Book Reviews. protection. These serious concerns are taking place in a rapidly changing work market shaped by new technologies which often puts the. Partha Dasgupta, University of Cambridge ” “Whither Socialism? In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal. Whither Socialism’ is the title of a recent book by Joseph Stiglitz, a Stan- poorly regulated private sector.3 Socialism failed as an overall.

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Joseph Stiglitz

Bjartur rated it liked it Nov 20, Edward rated it liked it Sep 29, Written in the midst of Eastern Europe’s transition out of communism, it reflects on the problems of market systems and, necessarily, on socialism. Sean Glover marked it as to-read Apr 13, Alex rated it it was amazing Jun 30, Grant added it May 11, Jonathan is currently reading it Dec 25, No trivia or quizzes yet.

Stiglitz argues that not only sockalism the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading.

This is perhaps Stiglitz’ masterpiece since he is now devoting himself to popular sodialism on current zocialism events. Return to Book Page.


The book includes a useful overview of new information economics – and associated critiques of mainstream neoclassical economics.

If you can remember your first economics course you will recall that it began with a set of fundamental assumptions, one of which was informatio This is perhaps Stiglitz’ masterpiece since he is now devoting himself to popular works on current economic events.

How will the coercive institutions of the state be constrained?

Just a moment while we sign you in to your Goodreads account. 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.

Sean marked it as to-read Apr 30, He also identifies problems arising from its assumptions concerning socialiwm of markets, competitiveness of markets, and the absence of innovation.

Whither Socialism? by Joseph E. Stiglitz

Critique of the First Fundamental Theorem of Welfare. Noah added it Sep 28, Books by Joseph E. Thorough, measured, and complex.

Hakija marked it as to-read Aug 04, You joeph find many works in economics that are really willing to face up to the complexity of the topic at hand rather than pointing out that complexity makes other explanations wrong and favoring their own panacea. The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. Ryan Edwards rated it it was amazing Apr 27, Chance marked it as to-read Nov 21, Goodreads helps you keep track of books you want to read.


Stiglitz is one of the most frequently cited economists in the world. Donovan rated it liked it Jul 30, Prychitko says that “the book hopes to go beyond the confines of pure technical economic theory, as its title implies.

He critiques the failures of real world markets to achieve the efficiencies envisioned by classical and neo-liberal economists and gives credit to both Marx and Schumpeter for their realization of the importance of technological innovation in the evolution of markets. Alexander marked it as to-read Jan 10, A Critique of the Second Fundamental Theorem.

It is a profound look at the spectrum of capitalism from neo-liberalism to market socialism.