Summary: Nobel Prize-winning economist Joseph Stiglitz argues that U.S. combat in Afghanistan and Iraq helped trigger 2008's economic collapse. According to Stiglitz, rises in oil prices, a culture of deregulation, and the housing bubble all stem from America's war involvement. Complete video available for free at http://fora.tv/2012/03/27/War_and_the_Economy_The_True_Cost_of_Conflict Joseph Stiglitz discusses the hidden costs of U.S. combat operations in Afghanistan and Iraq. Joseph E. Stiglitz was born in Gary, Indiana in 1943. A graduate of Amherst College, he received his PHD from MIT in 1967, became a full professor at Yale in 1970, and in 1979 was awarded the John Bates Clark Award, given biennially by the American Economic Association to the economist under 40 who has made the most significant contribution to the field. He has taught at Princeton, Stanford, MIT and was the Drummond Professor and a fellow of All Souls College, Oxford. He is now University Professor at Columbia University in New York and Chair of Columbia University's Committee on Global Thought. He is also the co-founder and Executive Director of the Initiative for Policy Dialogue at Columbia. In 2001, he was awarded the Nobel Prize in economics for his analyses of markets with asymmetric information, and he was a lead author of the 1995 Report of the Intergovernmental Panel on Climate Change, which shared the 2007 Nobel Peace Prize.
