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Joseph E. Stiglitz

Amherst is a liberal arts college, committed to providing students with a broad education.

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But while I loved all of these courses, there was an irresistible attraction of economics.

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I grew up in a family in which political issues were often discussed, and debated intensely.

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Economists often like startling theorems, results which seem to run counter to conventional wisdom.

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I knew that discrimination existed, even though there were many individuals who were not prejudiced.

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Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.

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I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights.

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The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.

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But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.

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Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation.

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