Consensus, dissensus, confusion: the `Stiglitz Debate' in perspective

This essay reviews the often heated controversies unleashed by the 2002 publication of Globalization and its Discontents by Joseph E. Stiglitz, former Chief Economist of the World Bank and recipient of the2001 Nobel Prize for Economics. His critique of IMF policies and other economic orthodoxies, particularly in Russia and South Asia, has since come to be accepted more widely among mainstream economists. The author argues, however, that while Stiglitz is sympathetic to some of the arguments made by the so-called `anti-globalisation' movement, his views are far from the radical end of the spectrum.