Academic Commons

Articles

Information and the Change in the Paradigm in Economics, Part 2

Stiglitz, Joseph E.

The second part of a series on the change in the paradigm in economics examines the new theory of the firm. Topics discussed include how the competitive paradigm that was dominant for two centuries failed to explain key economic phenomena and produced misguided policy prescriptions, how information affects political processes, and the theories of corporate finance, corporate governance, and organizational design as the three pillars supporting the modern theory of the firm.

Subjects

Files

Also Published In

Title
American Economist

More About This Work

Academic Units
Business
Published Here
June 18, 2012
Academic Commons provides global access to research and scholarship produced at Columbia University, Barnard College, Teachers College, Union Theological Seminary and Jewish Theological Seminary. Academic Commons is managed by the Columbia University Libraries.