Whither Socialism

(Paperback)

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Description

The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical model not only may have provided an inadequate framework for understanding market economies but may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies.

Reviews

Whither Socialism is to be recommended. It offers deep new thinking on a big subject: the role of the state. It is rigorous and accessible, a rare combination.

Author Bio

Joseph Stiglitz, a 2001 Nobel Laureate, is University Professor at Columbia University.