The Roaring Nineties by Joseph E. Stiglitz
A New History of the World's Most Prosperous Decade

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How one of the greatest economic expansions in history sowed the seeds of its own collapse.

With his best-selling Globalization and Its Discontents, Joseph E. Stiglitz showed how a misplaced faith in free-market ideology led to many of the recent problems suffered by the developing nations. Here he turns the same light on the United States.

The Roaring Nineties offers not only an insider's illuminating view of policymaking but also a compelling case that even the Clinton administration was too closely tied to the financial community—that along with enormous economic success in the nineties came the seeds of the destruction visited on the economy at the end of the decade.

This groundbreaking work by the Nobel Prize-winning economist argues that much of what we understood about the 1990s' prosperity is wrong, that the theories that have been used to guide world leaders and anchor key business decisions were fundamentally outdated. Yes, jobs were created, technology prospered, inflation fell, and poverty was reduced. But at the same time the foundation was laid for the economic problems we face today. Trapped in a near-ideological commitment to free markets, policymakers permitted accounting standards to slip, carried deregulation further than they should have, and pandered to corporate greed. These chickens have now come home to roost.

The paperback includes a new introduction that reviews the continued failure of the Bush administration's policies, which have taken a bad situation and made it worse.

About Joseph E. Stiglitz

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Winner of the 2001 Nobel Memorial Prize for Economics, Joseph E. Stiglitz is the best-selling author of Making Globalization Work; Globalization and Its Discontents; and, with Linda Bilmes, The Three Trillion Dollar War. He was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank. He teaches at Columbia University and lives in New York City.
Published February 7, 2011 by W. W. Norton & Company. 448 pages
Genres: Business & Economics, Political & Social Sciences. Non-fiction

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Kirkus Reviews

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Yet, he warns, it is a mistake to attribute to that administration the collapse of the great bubble and the dive into recession that closed the decade: though Clinton may earn middling marks, Stiglitz slyly notes, as a teacher he grades on a curve, and Clinton positively shines by comparison with...

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The Guardian

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My own view is that market fundamentalism has been shaped by the American conservative think tanks to dovetail so neatly with great American myths - individualism, the frontier, self-reliance, redemption through hard work, from log cabin to White House - that it has become a self-reinforcing ideo...

Oct 11 2003 | Read Full Review of The Roaring Nineties: A New H...

Publishers Weekly

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As an economic adviser to President Clinton and a World Bank official, Nobel Prize winner Stiglitz (Globalization and Its Discontents) had a front-row seat for the financial boom of the 1990s.

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Spectator Book Club

Stiglitz spent much of his early career in universities and made important advances in such highly theoretical areas of economics as the understanding of ‘information asymmetries’, which led to his being awarded the Nobel prize for economics.

Oct 04 2003 | Read Full Review of The Roaring Nineties: A New H...

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