The Roaring Nineties: Why We're Paying the Price for the Greediest Decade in History

FromtheNobelPrize-winningauthorof"GlobalizationandItsDiscontents"comesacoruscatinganalysisoftheboomandbustofthe1990s-howandwhyithappened,howtheseedsofdestructionweresowninthemidstofapparentprosperity,andhowAmericaandtheworldarestillfailingtolearnthelessonsfromwhatwentwrong."TheRoaringNineties"isinpartthestoryofhowthecorruptandgreedygottheircomeuppance.ButStiglitzalsodevelopsaconvincingalternativetothefree-marketmantra.Heshowswhygreedisnotgoodandhowifleftuncheckeditleadstodeceptions,distortionsanddisasters.Hearguesthatachievingtherightbalancebetweengovernmentandthemarketisthebestwaytowardssustainedgrowthandefficiency,andthatbothcompaniesandeconomiesmusttosomeextentberegulatedbytrustandconsiderationforothers.Thisisn'tjustgoodmorality-it'sgoodeconomicstoo.