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Abstract


New Keynesian Market Efficiency and Joseph Eugene Stiglitz
Joseph E. Stiglitz, who shared the 2001 Nobel Prize for economics with George A. Akerlof and Michael Spence, and considered one of the most influential economists of the 21th century, was born on February 9, 1943 in Gary, an industrial town in the US state of Indiana. Her mother was a teacher and her father was an insurer. Racism, unemployment and poverty are common; These features of Gary with mostly immigrants populations, created a a young man who questioned what was going on around him. He completed his education at Amherst College in MIT and continued his postgraduate economics education as a scholarship student at this university. At MTI, received training from Nobel prize-winning economists, such as Paul A. Samuelson, Robert Solow, Franco Modigliani and Kenneth J. Arrow. Throughout his career, he served as a lecturer at the best universities of the world, as a senior advisor in the US government and as vice president at the World Bank. In addition to Stiglitz's asymmetric information on the economy, he has also made important work on issues such as efficiency wages, globalization, inequalities caused by patent laws, and finance and credit markets. Stiglitz who is known for his brave opposition to the global financial system, even when he works at the center of that system, is at the head of the economists most concerned about inequalities. According to him, there is no magic wand as the "invisible hand" that automatically regulates the markets as traditional economic theorists claim. On the contrary, the underlying cause of inequalities in the global dimension is the invisible hand itself. Therefore, the government has to intervene in the market to provide social justice in order to carry out necessary regulations. This study will examine Stiglitz's life, worldview, important studies and contributions to economics, who has become one of the leading names in economics since the 1980s.

Keywords
Stiglitz, Asymmetric Information, Globalization, Inequality


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