From DemocracyNow interview:
As European leaders scramble to address the sovereign debt crisis, Nobel Prize-winning economist Joseph Stiglitz argues the austerity measures pushed by Germany, the United States and international creditors are only "going to make the countries weaker and weaker." If European economies contract, Stiglitz predicts that "our economy [will] go down further into the hole. ... Those policies then increase the probability of our weak economy tipping over into recession." Stiglitz’s new book is "The Price of Inequality: How Today’s Divided Society Endangers our Future."Joseph Stiglitz, Nobel Prize-winning economist and a professor at Columbia University. He is the author of numerous books. His most recent book is The Price of Inequality: How Today’s Divided Society Endangers Our Future.