Thursday, May 01, 2008


Joseph Stiglitz is not infallible, but he has good very service in many ways, not least in his recent analysis with Linda Blimes, The Three Trillion Dollar War. So I was a little disappointed at a talk he gave today in Oxford, Meeting the Challenges of Global Governance in the 21st Century.

He made some strong points, of course, regarding government and regulatory capture by banks and big financial players -- plenty to justify the old saying "if you're not angry you're not paying attention"; but for all his gifts, Stiglitz is not always an outstanding public speaker, and he was frustratingly sketchy on how a Financial Product Safety Commission and a Financial System Oversight Commission would work.

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