Professor Stiglitz to inform the work of the Economy Committee

16.02.2013

Nobel prize winning economist Professor Joseph E. Stiglitz will give evidence to the Economy, Energy and Tourism Committee to inform them on the adequacy of current measures of economic performance.

Professor Stiglitz, who has advised both the French and American Governments, will give evidence to the Committee via video link at its meeting on the 27 February. The Committee will be asking Professor Stiglitz for his views on alternatives to gross domestic product (GDP) as a measure of economic activity and of the wellbeing of society more generally. This will be a one-off session which will help the Committee further their understanding of what work can be done in this area.

Convener of the Economy, Energy and Tourism Committee Murdo Fraser MSP said:

“Professor Stiglitz is a world renowned academic who has advised the French and American Governments as well as the World Bank and the United Nations. So his expertise in alternative measures of economic growth is unparalleled and our committee is delighted that he will inform our understanding of this subject.”

Professor Joseph E. Stiglitz said:

“I am delighted to advise, for the first time, a committee of the Scottish Parliament. My work with the international Commission on the Measurement of Economic Performance and Social Progress has underlined the concerns over the adequacy of gross domestic product as a measure of well-being, and I hope that my knowledge and expertise in this area will convince the Committee to consider this issue in more detail.”

Background

The Economy, Energy and Tourism Committee will conduct a one off evidence session on the adequacy of current measures of economic performance.

This will take place on Wednesday 27 February at 1-2pm in Committee Room 1 and tickets are available now. Members of the public that would like to attend this session should contact Visitor Services on 0131 348 5200.

Short biography for Professor Joseph Stiglitz

Joseph E. Stiglitz is University Professor at Columbia University in New York and the winner of the 2001 Nobel Prize for Economics. He served on U.S. President Bill Clinton's economic team as a member and then chairman of the U.S. Council of Economic Advisors, and then joined the World Bank as chief economist and senior vice president. In 2008 he was asked by the French President, Nicolas Sarkozy, to chair the Commission on the Measurement of Economic Performance and Social Progress, which released its final report in September 2009.

In 2009 he was appointed by the President of the United Nations General Assembly as chair of the Commission of Experts on Reform of the International Financial and Monetary System, which also released its report in September 2009.