Relatively simple article from the New York Fed explaining why everything Stiglitz says here is wrong: <a href="https:&#x2F;&#x2F;www.newyorkfed.org&#x2F;medialibrary&#x2F;media&#x2F;research&#x2F;staff_reports&#x2F;sr380.pdf" rel="nofollow">https:&#x2F;&#x2F;www.newyorkfed.org&#x2F;medialibrary&#x2F;media&#x2F;research&#x2F;staff...</a><p>Not sure if Stiglitz is aware of these points because he doesn&#x27;t address any of them. Or it&#x27;s possible I&#x27;m misunderstanding something, Stiglitz&#x27; article is very complex and is clearly intended for economists, I&#x27;m not sure why it&#x27;s appearing in the Guardian.