How best should we re-regulate the financial system after the credit crisis? Two Nobel-prize-winning American economists with forthright views on free markets will debate this question, online, until October 24th. Myron Scholes, who shared the Nobel prize in 1997 for determining the value of derivatives, is one of the architects of complex, deregulated finance. Joseph Stiglitz, his opponent, shared the Nobel prize in 2001 for helping to develop a theory of asymmetric information which showed that only in exceptional circumstances are markets efficient. He is better known for his withering critiques of the imf and free markets, even while he was chief economist at the World Bank.
展开▼
