World-famous economist Joseph E. Stiglitz, winner of the 2001 Nobel Prize in Economic Sciences, gave a speech on economic development to Tsinghua students and faculty at the School of Public Policy and Management (SPPM) recently.

Mr. Stiglitz is a former Senior Vice President and Chief Economist of the World Bank and former Chairman of the U.S. Council of Economic Advisors.

In his speech titled “The Post Washington Consensus Consensus,” Mr. Stiglitz talked about world economic development and stressed the importance of maintaining a balance between the government and the market. He also pointed out that since each country has its own history and stage of economic development, and some common principles apply, different “prescriptions” should be used for developing different economies.

The speech was part of the series of academic forums called “Mind Forum – Beijing Consensus,” organized by SPPM. Professor Wang Youqiang, associate dean of academic affairs of SPPM, hosted the speech.

By Li Han