Monday, October 11, 2004


an economist shames bush....

SCRANTON - For a Nobel Prize-winning economist who regularly expounds on 'information assymetries,' 'Pareto inefficiencies' and 'sovereign debt,' Joseph Stiglitz has a surprisingly concise and blunt take on the state of the U.S. economy.

'Bush is to blame,' the Columbia University professor concluded in an interview Friday at the University of Scranton.

Stiglitz, a former member of President Bill Clinton's Council of Economic Advisors and former chief economist for the World Bank, was scheduled to speak at the university Friday on the competing economic visions of the two candidates for president. Stiglitz has given similar talks at other universities, driven by what he called the Bush administration's 'phenomenally bad' stewardship of the U.S. economy.

Stiglitz said Bush had 'squandered' the surpluses left by the Clinton administration.

'It has been one of the worst performances of an economic administration ever.'

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