Abstract

REBEL WITH A CAUSE

The article presents information about Joseph Stiglitz , the famous economist. Over the past several years, Stiglitz, a celebrated theorist who was awarded the 2001 Nobel Prize in economics for his work on asymmetric information, has grown accustomed to being at the center of controversy. From 1997 to 2000, Stiglitz served as senior vice president and chief economist at the World Bank, a title that did not stop him from publicly criticizing the bank's sister institution, the International Monetary Fund (IMF). Stiglitz's outspokenness, unprecedented for a high-ranking insider, infuriated top officials at the IMF and eventually led James Wolfensohn, the World Bank's president, to inform him that he would have to mute his criticism or resign. Stiglitz chose to leave.