As activity restarts following pandemic lockdowns and countries like China struggle to restore normality, the global economy is enduring something “we’ve never done before,” the Columbia University professor said in an interview in Lindau, Germany.
Rahul Gandhi also askd Prime Minister Narendra Modi to break silence and start facing questions on the issues raning from the farm bills to border dispute with China.
Rather than using GDP as the metric to measure economic well-being, India must look at a more holistic system, such as the OECD Better Life Index
Stiglitz said this has not always been the case, but the European Union's fortunes have taken a turn for the worse since the 28-nation bloc adopted a common currency, which he blames for much of the continent's present-day woes.
The leak in April of more than 11.5 million documents from the Panamanian law firm Mossack Fonseca, dubbed the "Panama Papers," detailed financial information from offshore accounts and potential tax evasion by the rich and powerful.
Many economists and experts on financial matters in the US have come out openly, saying if Trump wins the election, his hostile attitude to free trade would alienate Mexico and China in particular, resulting in escalation of trade war.
The world of zero interest rates has outlived its usefulness, according to a chorus of influential bankers, watchdogs and economists anxious about asset bubbles and wealth inequality.
If Europe were to enter a recession it would likely be "relatively minor," but persistent stagnation puts the single-currency bloc "on target for a lost decade," he said.
Whether it is Lehman or quantitative easing or tapering for that matter, a fact of globalization is global inflows and outflows of funds can have huge destabilizing effects on all economies.
“The point about quantitative easing, tapering is that monetary policy has only a very limited effect in the United States. It has global repercussions but the effect in creating jobs in the United States is very low,†Stiglitz told CNBC-TV18.
After the US jobs data for the month of December came in lower-than-expected , experts believe the US Federal Reserve will hold on to its tapering programe for now but the continuity will depend on the subsequent jobs data going ahead.
DK Mittal, secretary of financial services, GoI, shares his view on banking regulation amendment bill. He says that the RBI being the regulator will be the notifying authority, and they will issue the guidelines for the banking regulation amendment bill very shortly maybe in next two weeks time.
Nobel Prize-winning economist Joseph Stiglitz explains on CNBC-TV18 that issuing bank licences to NBFCs is risky and suggests maintaning the focus on boosting growth
Once seen as the land of opportunity, the US today is grappling with rising inequality and a political system that benefits the rich at the expense of others, resulting in lower growth and risking the death of the American dream, according to Nobel prize-winning economist Joseph Stiglitz.
The European Central Bank has the ability to do more to tackle to the euro zone‘s debt crisis than it has been doing, Nobel Laureate and Professor at Columbia University Joseph Stiglitz told CNBC‘s “Worldwide Exchange†Friday.
Noted economist Joseph Stiglitz is not surprised by the slowdown in India. "We are seeing slowdown across all emerging markets," he says.
The euro will find it "very difficult" to survive without the implementation of a eurobond framework, Nobel Prize winning economist Joseph Stiglitz said on Monday.