Why Famous: Joseph Steiglitz won the 2001 Nobel Prize in Economics. He and few economists George A. Akerlof and A. Michael Spence showed that asymmetric information can provide the key to understanding many observed market phenomena, including unemployment and credit rationing.
Stiglitz has served as an economic advisor to US Presidents Bill Clinton and Barack Obama. At the World Bank Stiglitz has served both as senior vice-president and chief economist (1997-2000).
In 2008 the President of the United Nations General Assembly asked him to chair a commission into the economic crisis which resulted in the Stiglitz Report.
- 2004-10-28 Economist Joseph Stiglitz (61) weds professor Anya Schiffrin (41) at the Municipal Building in New York
- 1997-02-13 Joseph Stiglitz becomes Chief Economist of the World Bank
- 2001-12-10 Nobel Prize for Economics awarded jointly to Joseph Stiglitz, George A. Akerlof and A. Michael Spence "for their analyses of markets with asymmetric information"