After having been a World Bank official and receiving the Nobel distinction he embarked on a crusade against international finance and the big players thereof.
According to him, Argentina (and Brazil for that matter) was cursed. Indeed, financial markets decided that Argentina was risky despite the fact its debt to GDP ratio was no worse than most European countries. No matter what Argentina would do right, its fate was carved in stone from outside: Thumbs down as if international financial markets were a large Roman crowd asking for the wounded gladiator's death.
Frankly, I find it hard to swallow. I fail to get the full picture. As always the devil lies in the details. It was a time when Stiglitz had a passion for details (see his insurance and banking papers). It seems that this time is over and leads him to gross oversimplification which is sad for a man of his stature and responsibility.
I leave you the task of judging:
Stiglitz Explains International Finance
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