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recession

Interview with Joseph Stiglitz

by Carmela Cruz, John Feffer | Mar 26, 2008

Joseph Stiglitz was born in Indiana in 1943. He currently teaches at Columbia University, where he is chair of the university’s Committee on Global Thought. During Bill Clinton’s administration, he was a member of the Council of Economic Advisers then later its chairman from 1993-97. He then became chief economist and senior vice-president of the World Bank from 1997-2000.

Capitalism in an Apocalyptic Mood

by Walden Bello, John Feffer | Feb 20, 2008

Skyrocketing oil prices, a falling dollar, and collapsing financial markets are the key ingredients in an economic brew that could end up in more than just an ordinary recession. The falling dollar and rising oil prices have been rattling the global economy for sometime. But it is the dramatic implosion of financial markets that is driving the financial elite to panic.