Freefall has ratings and reviews. Trevor said: This is To say that Joseph E. Stiglitz is an “Insanely great Economist” is a truism. This book indicates . Freefall: Free Markets and the Sinking of the Global Economy by Joseph The warnings of Stiglitz and a handful of other dissident voices were. An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future Great Recession.

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Want to Read Currently Reading Read. Our financial markets have failed us, but we can not function without them. The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression.

All in all, a good read, if you have time for it. Excellent discussion of several complicated subjects. I was amazed by how much Stiglitz had to say in this book, perhaps a testament to his passion of the subject and his desire to see the U. Stiglitz quotes other causes, of equal salience, including: By using this site, you agree to the Terms of Use and Privacy Policy.

Freefall: America, Free Markets, and the Sinking of the World Economy by Joseph E. Stiglitz

But inequity has social, moral and even economic costs. The Nordic countries are exemplified as a group of countries with a relatively high income tax brackets but, in direct contradiction of American mainstream economists, have a consistently high quality of life. Stiglitz examines the rising of China and the other emergent countries, how in the near future geopolitical power will shift from the West to East.

A society’s well being cannot be solely and accurately assessed through the level of its GDP, the profits garnered by financial firms or the bonuses CEOs bag home, let alone the number of fortune companies we have.

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Jul 20, Simon Wood rated it it was amazing. While the economic arguments are interesting, I’m particularly taken by Stiglitz’s arguments about moral failure in the American society In the United States, they are fighting over the size of their bonuses.

I agree with him that conservative, right-leaning principles have completely failed us. Some of Stiglitz’s suggestions still need to be acted on to sstiglitz another financial meltdown.

Growing inequality indicates shrinking opportunities for the vast majority. It illuminates the more sordid happenings in society; how the government is a puppet to Big Business, the master; how Western governments are as parsimonious as their private sectors in the provision of international aid, and arguably more importantly, noting their obvious and recurrent display of outright hypocrisy against develop Reading books of this sort, that is, about economic crises and their causes, freeall a tendency to evoke a sense of frustrative disdain.

I liked it because Stiglitz is not just an unalloyed liberal economist.

Stiglitz has plenty of criticism for both the Bush and Obama administrations, and states his own remedies that should have been taken to correct our shattered economy. The policy prescriptions, however, are vague and lack detail. Even if you’re not interested in learning how and why the the Great Recession of occurred, I recommend reading the last four or five chapters on how we could improve today’s American-style capitalism, which leaves so many people behind.

For the most part, the book is a fairly readable review of the economic meltdown and the factors that led to it. Stiglitz must write like the freakin dickens, or he has a verbose editor, or something of that sort. The author then illustrates the damage wrought by predatory capitalism in what he calls the great mortgage scam.


The blame lies on the bank owners, loan agencies, investment firms, Wall Street firms who misdeeds overlaps each other, causing a bubble in which billions of dollars are bet on how long will that bubble last before it burst. But he also finds time for some personal revenge.

Freefall: America, Free Markets, and the Sinking of the World Economy

The global economy was — and remains — seriously unbalanced between debtor and creditor nations. He is known for his critical view of the management of globalization, free-market economists whom he calls “free market fundamentalists” and some international institutions like the International Monetary Fund and the World Bank. So that was all good.

It hurts me to say the things in the above paragraph. Welcome to the new corporate welfare state.

Freefall: Free Markets and the Sinking of the Global Economy by Joseph Stiglitz

The New Statesman rather focused on shortcomings of Freefall: But the chances that democratic frsefall will prevail will depend upon reforms in campaign contributions and electoral processes. America, as the book rightly notes, has lived off one bubble after another for years. This review has been hidden because it contains spoilers. This is a lucid book, it is a book that treefall the existing assumptions particularly neoliberal economic assumptions and presents a way forward for a more stable, ecologically sustainable and more just society.