exposed

By Scott Lanman Jan. 2 (Bloomberg) — Joseph Stiglitz , the Nobel Prize- winning economist and Columbia University professor, said economists are among those at fault for the financial crisis, which exposed “major flaws” in prevailing ideas. The now-flawed premises include the ideas that economic participants behave rationally and that financial markets are competitive and efficient, Stiglitz said today in a slide presentation prepared for a speech today to the Allied Social Science Associations meeting in Atlanta Read the original here: Stiglitz Says Financial Crisis Exposed `Major Flaws’ in Economics Theories

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Stiglitz Says Financial Crisis Exposed `Major Flaws’ in Economics Theories