Joseph Stiglitz on Globalization

Economist Joseph Stiglitz has won the Nobel Prize, has been chairman of President Clinton's Council of Economic Advisers, chief economist at the World Bank — and made waves everywhere he's gone.

His 2002 bestseller "Globalization and Its Discontents" captured the apprehension of a world twirling in the churn of a globalizing economy — from outsourcing and layoffs in America to revolutionary change abroad.

Now he's back with a warning that globalization is going off the rails, and needs some serious oversight — new rules on trade and the environment and labor. Critics say he's dreaming. Stiglitz says we'd better dream fast.

Hear a conversation with the in-your-face Nobel prize-winner Joseph Stiglitz about making globalization work.

Quotes from the Show:

"Inequality [in incomes] is the most serious problem with globalization." Joseph Stiglitz

"Globalization has brought enormous benefits to some countries." Joseph Stiglitz

"I am a great cheer for globalization when it is managed well." Joseph Stiglitz

Guests:

Joseph Stiglitz, winner of the Nobel Prize in Economics in 2001. He is former chief economist at the World Bank and chair of the Council of Economic Advisers. He is Professor of Economics at Columbia University. His new book is
"Making Globalization Work."

Zanny Minton Beddoes, Washington economics editor at The Economist magazine, where she covers the American economy, economic policy and issues surrounding globalization.