Joseph Stiglitz
US president-elect Joe Biden wants to massively increase investment in everything from clean energy to
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This paper sets forth a set of policies which are an alternative to the standard IMF prescriptions. It delineates the circumstances under which such policies could be easily implemented, outlines the risks, and provides a framework for thinking through how these risks can be assessed relative to the risks of the standard IMF strategies.
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For a long time, economic thought emphasized market efficiency over industrial policy, viewing government intervention
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