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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. A landmark collection of material for economists everywhere.
'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
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