José Manuel Bolieiro received Joseph Stiglitz, 2001 Nobel Prize in Economic Sciences - Communication

Presidência do Governo Regional

This week, the President of the Regional Government, José Manuel Bolieiro, received Joseph Stiglitz, winner of the 2001 Nobel Prize in Economic Sciences, who is visiting the Region.

Joseph Stiglitz is recognised as one of the creators of the theory of markets with asymmetric information. This theory explains how market failures can occur when two or more economic agents involved in transactions have qualitatively or quantitatively superior information compared to others.

"The Azores are proud to welcome influential thinkers like Joseph Stiglitz. His arrival is a confirmation of the growing relevance of our Region on the international scene and a source of inspiration for all of us," stated José Manuel Bolieiro.

Stiglitz graduated from Amherst College and holds a doctorate from MIT. In 2011, he was voted one of the most influential people in the world by Time magazine. Currently, he is a retired professor of economics, business administration, and international business at Columbia University in New York. He also serves as the Chief Economist at the Roosevelt Institute.

He is also one of the coordinators of the Committee on Global Thought, co-chair of the Initiative for Policy Dialogue and president of the International Economic Association.

In the past, he was President of the Clinton Administration's Economic Council, and Chief Economist and Vice-President of the World Bank.

Also in the context of the meeting, the President of the Government stated that this was "an opportunity to meet and dialogue with a relevant and inspiring figure."

With his work, Stiglitz has helped to clarify contexts in which markets do not function correctly and has shown how selective government intervention can improve economic performance.