Joseph Stiglitz: The Illogic of Nobel Economics

Nobel-laureate economist Joseph Stiglitz recently published an opinion commentary in USA Today (Sept. 18) titled, “Fallacies of Romney’s Logic.”

Stiglitz, who served as the chairman of President Clinton’s Council of Economic Advisers, was writing as a political partisan in a heated election campaign, which is his privilege. In his zeal, though, he forgot that “those who live in glass houses should not throw stones.” Stiglitz’ own arguments were stunningly illogical. This article is not written to defend Romney, but to rebut the fallacies put forth by one of America’s most famous economists.

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