No one has challenged the policies of the international financial community as profoundly as Joseph Stiglitz, the former Chief Economist of the World Bank. In controversial speeches made around the world, Stiglitz has undone the conventional wisdom that dominated policy-making at the World Bank, the International Monetary Fund and the US Treasury Department.

For the first time, Stiglitz’s nine most revealing speeches have been gathered together, covering such topics as the failure of shock therapy and transition economics, the limits of capital market liberalization, the myopia of the Washington consensus, the role of knowledge in markets, the process of developing market institutions and the primacy of openness and worker participation. Along with Dr Ha-Joon Chang’s insightful commentary, they form the most powerful representation of Stiglitz’s thinking to be found anywhere. A landmark collection of material for economists everywhere.

Joseph E. Stiglitz is the former Chief Economist of the World Bank. He is currently Professor of Economics at Columbia University and Nobel Laureate, to NDTV

Commentary by Ha-Joon Chang; More Instruments and Broader Goals: Moving Toward the Post-Washington Consensus; Towards a New Paradigm for Development: Strategies, Policies and Processes; Redefining the Role of the State – What should it do? How should it do it? And how should these decisions be made? Whither Reform? – Ten Years of the Transition; The Role of International Financial Institutions in the Current Global Economy; Scan Globally, Reinvent Locally: Knowledge Infrastructure and the Localization of Knowledge; Participation and Development: Perspectives from the Comprehensive Development Paradigm; On Liberty, the Right to Know and Public Discourse: The Role of Transparency in Public Life; Democratic Development as the Fruit of Labor

‘Undoubtedly, the book has extended the frontiers of development economics and development assisting institutions should take note. […] It is a must for those interested in development policy-making processes and graduate students of development economics.’ —S. N. Kulkarni, in ‘Development and Change’ book reviews

‘A powerful collection of key speeches from one of the most controversial economists of our time… The most provocative book on international financial policy to appear for a long time.’ —Jeff Madrick, ‘Challenge Magazine’, contributing columnist, ‘New York Times’

‘This is a book that puts John Keble in his literary, cultural, political, and theological context as never before. It is essential reading for Students of nineteenth-century English literature as much as of religious history.’ —Peter Nockles, author of ‘The Oxford Movement in Context’