Joseph E. Stiglitz

Joseph E. Stiglitz was Chief Economist and Senior Vice President, Development Economics
at the World Bank between February 11, 1997 and November, 1999.

On June 28, 1995 President Clinton appointed Dr. Stiglitz Chairman of the Council of Economic Advisers. Dr. Stiglitz had been confirmed by the Senate in July 1993 and had served as a Member of the Council since that time. Dr. Stiglitz is on leave from Stanford University, where he is the Joan Kenney Professor of Economics. He has taught at Stanford since 1988. From 1979 to 1988 he was Professor of Economics at Princeton University. He was appointed Professor of Economics at Yale University in 1969 at the age of 26, and has also held the Drummond Chair in Political Economy at All Souls College, Oxford.

Dr. Stiglitz earned his B.A. from Amherst College, his Ph.D. from the Massachusetts Institute of Technology (MIT) and was a Fulbright Scholar and Tapp Junior Research Fellow at Cambridge University.

As an academic, Dr. Stiglitz helped create a new branch of economics "The Economics of Information" which has received widespread application throughout economics. Dr. Stiglitz also helped pioneer concepts such as the theory of adverse selection and moral hazard, which have now become standard tools of policy analysts as well as economic theorists. In the late 1970s and early 1980s, Dr. Stiglitz helped revive interest in the economics of technological change and other factors that contribute to long-run increases in productivity and living standards.

Dr. Stiglitz is a leading scholar of the economics of the Public Sector. Both his graduate textbook, co-authored with Anthony B. Atkinson, and undergraduate textbook have been leading texts in the subject throughout the world for the past decade, with translations in German, Spanish, Italian, Japanese, Chinese, Latvian, Ukrainian, Russian, and Turkish.

In 1979, the American Economic Association awarded Dr. Stiglitz its biennial John Bates Clark award, given to the economist under 40 who has made the most significant contributions to economics. His award citation reads in part: "Dr. Stiglitz is beyond compare among younger economists for the range and variety of his theoretical achievements, as well as for their vigor and their liveliness. From growth and capital to the economics of discrimination, from public finance to corporate finance, from information to uncertainty, from competitive equilibrium with exhaustible resources to monopolistic competition and product diversity, contemporary economic theory is crisscrossed with his footprints."