Joseph E. Stiglitz

Bio: Joseph E. Stiglitz is an academic researcher. The author has an hindex of 1, co-authored 1 publications receiving 8226 citations.

The Great Transformation: The Political and Economic Origins of Our Time

Abstract: But the fount and matrix of the system was the self-regulating market. It was this innovation which gave rise to a specific civilization. The gold standard was merely an attempt to extend the domestic market system to the international field; the balance of power system was a superstructure erected upon and, partly, worked through the gold standard; the liberal state was itself a creation of the self-regulating market. The key to the institutional system of the 19 century lay in the laws governing market economy. (p. 3).

Culture in action: symbols and strategies*

Abstract: Culture influences action not by providing the ultimate values toward which action is oriented, but by shaping a repertoire or "tool kit" of habits, skills, and styles from which people construct "strategies of action." Two models of cultural influence are developed, for settled and unsettled cultural periods. In settled periods, culture independently influences action, but only by providing resources from which people can construct diverse lines of action. In unsettled cultural periods, explicit ideologies directly govern action, but structural opportunities for action determine which among competing ideologies survive in the long run. This alternative view of culture offers new opportunities for systematic, differentiated arguments about culture's causal role in shaping action. The reigning model used to understand culture's effects on action is fundamentally misleading. It assumes that culture shapes action by supplying ultimate ends or values toward which action is directed, thus making values the central causal element of culture. This paper analyzes the conceptual difficulties into which this traditional view of culture leads and offers an alternative model. Among sociologists and anthropologists, debate has raged for several academic generations over defining the term "culture." Since the seminal work of Clifford Geertz (1973a), the older definition of culture as the entire way of life of a people, including their technology and material artifacts, or that (associated with the name of Ward Goodenough) as everything one would need to know to become a functioning member of a society, have been displaced in favor of defining culture as the publicly available symbolic forms through which people experience and express meaning (see Keesing, 1974). For purposes of this paper, culture consists of such symbolic vehicles of meaning, including beliefs, ritual practices, art forms, and ceremonies, as well as informal cultural practices such as language, gossip, stories, and rituals of daily life. These symbolic forms are the means through which "social processes of sharing modes of behavior and outlook within [a] community" (Hannerz, 1969:184) take place.

Does culture affect economic outcomes

Abstract: Until recently, economists have been reluctant to rely on culture as a possible determinant of economic phenomena. Much of this reluctance stems from the very notion of culture: it is so broad and the channels through which it can enter the economic discourse so ubiquitous (and vague) that it is difficult to design testable, refutable hypotheses. In recent years, however, better techniques and more data have made it possible to identify systematic differences in people's preferences and beliefs and to relate them to various measures of cultural legacy. These developments suggest an approach to introducing culturally-based explanations into economics that can be tested and may substantially enrich our understanding of economic phenomena. This paper summarizes this approach and its achievements so far, and outlines directions for future research.

Prosperity without growth : economics for a finite planet

Abstract: Foreword 1. Prosperity Lost 2. The Age of Irresponsibility 3. Redefining Prosperity 4. The Dilemma of Growth 5. The Myth of Decoupling 6. The 'Iron Cage' of Consumerism 7. Keynesianism and the 'Green New Deal' 8. Ecological Macro-Economics 9. Flourishing - within Limits 10. Governance for Prosperity 11. The Transition to a Sustainable Economy 12. A Lasting Prosperity Appendices References Endnotes