Towards a General Theory of Deep Downturns: Presidential Address from the 17th World Congress International Economic Association 2014 in Bloomington, MN

Joseph Stiglitz examines the theory behind the economic downturns that have plagued our world in recent times. This fascinating three-part lecture acknowledges the failure of economic models to successfully predict the 2008 crisis and explores alternative models which, if adopted, could potentially restore a stable and prosperous economy.