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Stiglitz explains how America exported bad economics, bad policies, and bad behavior to the rest of the world, only to cobble together a haphazard and ineffective response when the markets finally seized up. In this forthright and incisive book, Nobel Laureate Joseph E. He won the Nobel Prize for Economics in 2001 and is the author of the best-selling Globalization and Its Discontents, Making Globalization Work, The Roaring Nineties and The Price of Inequality, all published by Penguin.The current global financial crisis carries a 'made in America' label. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. Joseph Stiglitz was Chief Economist at the World Bank until January 2000. this is Joe Stiglitz's victory lap' Michael Hirsh, Newsweek

'A powerful new book' Devin Leonard, The New York Times always enthralling' Martin Jacomb, Spectator Business we need more of his ilk' Will Hutton, Observer Drawing on his years spent shaping policy at the World Bank, Nobel Laureate Joseph Stiglitz shows why far more radical reforms are needed to avoid future crises, why the cost of recovery should be borne by the financial sector, and how we now have the opportunity to create a new global economic order. This acclaimed and inspiring book, by one of the world's leading economic thinkers, dissects the flawed ideas that led to the credit crunch, but also looks to the future. But what happens now? Are bailouts and stern lectures enough, or do we need a rethink of our entire financial system? When the world economy went into freefall, so too did our unquestioning faith in markets. Out of the crisis of our times, Joseph Stiglitz's Freefall: Free Markets and the Sinking of the Global Economy is a convincing, coherent and humane account that goes to the heart of how we run our societies.