Joseph Stiglitz stepped down as chief economist of the World Bank a decade ago after his outspoken criticism of Washington and International Monetary Fund economic policies left him afoul of powerful foes including then-Treasury Secretary Larry Summers.
Today, however, the Nobel laureate in economics is attracting attention as much of his economic doomsaying has proven correct. Here is the story in Business Week.
And the edited interview:
Q – You are calling for a new global currency to replace the dollar. What is the crux of the idea?
A – The central idea is that the current system of depending on a single currency and the political and economic management of that currency is volatile. It's inequitable because poor people are lending to the U.S. at low interest rates. In a global economy, you need a global o say anything else, it would su
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