Joseph E. Stiglitz is University Professor at Columbia University and the winner of the 2001 Nobel Prize for Economics. He served on President Clinton's economic team as a member and then chairman of the U.S. Council of Economic Advisors in the mid-1990s, and then joined the World Bank as chief economist and senior vice president. Stiglitz has received the John Bates Clark Medal. He was a Fulbright Scholar at Cambridge University, held the Drummond Professorship at All Souls College, Oxford, and has taught at M.I.T, Yale, Stanford, and Princeton.