Cropped picture of Joseph Stiglitz, U.S. economist. (Photo credit: Wikipedia)

DALIAN/CHINA, 12SEPT09 – Martin Wolf, Associate Editor and Chief Economics Commentator, The Financial Times. (Photo credit: Wikipedia)

Read Nobel Prize winning economist, Joe Stiglitz‘ review of Martin Wolfe’s new book – the latter is the FT’s chief economics commentator. Check it out!

via Martin Wolf’s ‘The Shifts and the Shocks’ – FT.com.

According to both Stiglitz and Wolf the World’s financial system is in deep distress. In particular, the banking system is not working effectively.

Let me give you a flavor:

Wolf argues persuasively that these results were not inevitable but rather the predictable results of policy failures, and that they will have long-run consequences.

Views?

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