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His previous book revealed the shocking truth about globalization. Now, Joseph Stiglitz blows the whistle on the devastation wrought by the free market mantra in the nineties – and shows how Bush is ignoring the lessons from what happened.
This is the explosive story of how capitalism US-style got its comeuppance: how excessive deregulation, government pandering to big business and exorbitant CEO salaries all fed the bubble that burst so dramatically amid corporate scandal and anti-globalization protest.
As Chief Economic Advisor to the President at the time, Stiglitz exposes the inside story of what went wrong, but also reveals how Bush's administration is now making things worse – much worse – for the economy, the US and the rest of the world. Stiglitz takes us one step further, showing how a more balanced approach to the market and government can lead not only to a better economy, but a better society.
"A searing critique of Dubyanomics [...] The Nobel laureate who took on the IMF is now turning his guns on the American President. Stiglitz knows when to pick a fight"
"One of the most important economic and political thinkers of our time"
- Independent on Sunday
"Stiglitz's dissection of the follies of the "Roaring Nineties" is as good as it gets"
- Will Hutton
"An iconic figure [...] Stiglitz's book will encourage those who wish to halt the partial Americanization that has already taken place in Europe"
- Daily Telegraph
"Stiglitz has become a hero to the anti-globalization movement"
"An acidic economic polemicist [...] Economics is now a far more powerful agent of change than politics. And that makes [Stiglitz] a very dangerous man"
- Faisal Islam, Observer