Stiglitz and Other Heavyweight Champion Economists in Epic Battle Over Austerity Policies That Devastate Millions

By William K. Black

August 13, 2013  |  This article discusses a simmering feud among five of the most prominent economists in the world (two of them Nobel Laureates).  It was prompted by the August 8, 2013 article by Raghuram Rajan [3], who has just been selected to run India’s Central Bank, entitled: “The Paranoid Style in Economics.”  (Note: I have deliberately “buried the lead” in my last section.)

The personalities involved have a great deal to do with the feud, but as Paul Krugman wrote on May 23, 2013, “It’s Not About You [4].”