By Li Han

Staff Writer of the Tsinghua News Center

Dr. Joseph E. Stiglitz, the 2001 Nobel Prize Winner in Economics, delivered a speech at Tsinghua on March 21. The same day, he was named an Honorary Professor of Tsinghua University. Tsinghua Vice President Xie Weihe awarded the letter of appointment to Dr. Stiglitz and earlier had a discussion with him on university development.

During his one-hour speech entitled “America’s Financial Crisis: Lessons for China”, Dr. Stiglitz noted, “Market fundamentalism does not work” and it “needs to have good regulatory structures.” He said that people “have to make fundamental reforms in the governance of the global economic system.” He then emphasized the importance of international cooperation in economic development.

Dr. Stiglitz was granted the Nobel Prize in Economics in 2001 for his analysis of asymmetric markets. His speech at Tsinghua is part of the Tsinghua Global Vision Lectures series, which has been incorporated into Tsinghua’s elective course system and has become very popular with students.

(Photo by Guo Haijun)