Who Saw the Crisis Coming? Not Stiglitz

As I read through our Stiglitz book I am hit by just how little premonition he, and it would appear the rest of the financial system, had of the impending financial crisis.  His book, Making Globalization Work, was published in 2006 --- just one year before the beginning of the crisis. Of course Stiglitz points out many problems with the world financial system and the economy, from too much liberalization to the use of old-boy politics to the overhang of debt on third-world countries but there is no real warning of a crisis. Yet Stiglitz appears to have great confidence in his ability to diagnose the problems of the world and how to fix them. It would be interesting to interview him now and ask him why, if he is so knowledgeable, could he not have foretold what was to come?