Joseph E. Stiglitz
Globalization was supposed to bring prosperity to developing nations, but rigid policies from international institutions often brought economic devastation instead.
International financial institutions prioritize the interests of Western financial markets over the social and economic well-being of developing countries.
Imposing rapid capital market liberalization on nations without adequate regulatory frameworks often leads to devastating financial instability and deep recessions.
Strict fiscal austerity during an economic downturn worsens the crisis by increasing unemployment and destroying vital social safety nets.