US Economy Joseph Stiglitz

  • June 14- It isn't so much that the rent is too high, it is that firms are earning too much of it from political influence and too little from innovation. But in economics Nobelist Robert Shiller's classic example of political rent extraction, when a feudal lord puts a chain across a river to extract a toll he creates no value, only slowing trade and enriching himself.

  • TOKYO, May 20- A group of Japan's ruling lawmakers has urged Prime Minister Shinzo Abe to proceed with a planned sales tax hike next April and compile a supplementary budget to mitigate the impact of the tax on the sluggish economy. They also said the government should compile 10 trillion yen of stimulus measures to improve output gap for this fiscal year and set...

  • TOKYO, May 20- A group of Japan's ruling lawmakers will petition the country's prime minister to proceed with a planned sales tax hike next year and compile a supplementary budget to mitigate the impact of the tax, a source familiar with the matter told Reuters. The proposal marks a reversal in thinking for the policy study group, which is led by a Liberal...

  • TOKYO, April 13- OECD Secretary-General Angel Gurria pressed on Wednesday for the Group of Seven rich countries to coordinate a a fiscal spending boost to bolster global growth. He told Japan's Prime Minister Shinzo Abe that the fiscal spending did not need to be large, but should focus on infrastructure, education and policies that improve productivity,...

  • TOKYO, March 22- U.S. economist Paul Krugman said on Tuesday he advised Japan's Prime Minister Shinzo Abe to delay a sales tax increase scheduled for next year and to boost fiscal spending because the economy is still not strong enough to escape deflation. Abe is meeting overseas economists to help him prepare for a Group of Seven summit that Japan will host in May.

  • By Stanley White and Minami Funakoshi. Nobel laureate and economist Joseph Stiglitz said on Wednesday that he had advised Japan's Prime Minister Shinzo Abe to delay a sales tax increase scheduled for next year and focus more on fiscal spending to boost a recovery from recession. Abe is meeting with foreign economists to help him prepare for hosting a Group of...

  • TOKYO, March 16- Nobel laureate and economist Joseph Stiglitz said on Wednesday he told Prime Minister Shinzo Abe that Japan should not go ahead with another sales tax hike planned for next year. Stiglitz, a Columbia University professor, said that another sales tax hike would steer the economy in the "wrong direction" and that Japan should focus on fiscal...

  • Characters from the game Candy Crush on the floor of the New York Stock Exchange, in honor of the mobile gaming company King holding its initial public offering at the NYSE on March 26, 2014 in New York City.

    Happy Wednesday. We now return to our regularly scheduled program of spring.

  • Joseph Stiglitz: US needs fiscal stimulus

    Nobel prize winning economist Joseph Stiglitz weighs in on the disappointing US jobs report in an interview with CNBC TV's 18 Latha Venkatesh.

  • George Soros, founder of Soros Fund Management LLC

    "Germany did the minimum that was necessary to preserve the euro... And that is what maintained the crisis conditions," business magnate George Soros said.

  • Oct 24- Nobel Prize-winning economist Joseph Stiglitz chided U.S. President Barack Obama and Republican presidential candidate Mitt Romney for not seriously addressing the troubled U.S. housing market during the recent series of presidential debates.

  • JOHANNESBURG, Oct 9- A South African court on Tuesday ordered the local unit of Wal-Mart to double a planned fund for small suppliers to $23 million, ending more than a year of legal wrangling over its entry into Africa.

  • Joseph Stiglitz

    Under-regulated and over-powerful banks weaken the global economy and lead to higher inequality, Nobel prize-winning economist Joseph Stiglitz told CNBC.

  • Joseph Stiglitz

    Once seen as the land of opportunity, the U.S. today is grappling with rising inequality and a political system that benefits the rich at the expense of others, resulting in lower growth and risking the death of the American dream, according to Nobel prize-winning economist Joseph Stiglitz.