Joseph Stiglitz is an American economist and recipient of the esteemed 2001 Nobel Prize in economics. He is also a professor at Columbia University in New York City and a former chief economist for the World Bank. Much of Stigliz's work has revolved around “The Economics of Information”, a burgeoning field of economics which he had a significant role in creating. This field of economics focuses on the effectiveness of real-world economic systems and how they can better inform decisions made by businesses.

Stiglitz also made important contributions to public finance theory. His work seeks to answer questions such as how to calculate the cost of taxation, how to make public policies more useful, and how to mobilize investment for poor countries. In 2001, Stiglitz was awarded the Nobel Prize for his work into how markets inefficiencies may affect economic outcomes.

Not content on delivering academic excellence alone, Joseph Stiglitz has shown himself to be a committed public intellectual, writing numerous books and speaking publicly on global issues. In 2007, Stiglitz took part in the formation of the Intergovernmental Panel on Climate Change alongside former US vice-president Al Gore and others, leading to the Nobel Peace Prize being awarded to the entire body for their work.

In his books and lectures, Stiglitz has taken on pressing issues such as economic inequality and climate change. He has challenged popular economic theories and raised important questions about global economic power structures. Speaking out against policies such as austerity measures and free market capitalism, many of Stiglitz's recommendations have become accepted practice in economics and beyond.

Joseph Stiglitz has laid a substantial imprint on economics and public debates over the course of his fruitful career. His work in the Economics of Information and his challenge of economic theories have caused waves across the academic world and in many public institutions. He totally deserves his Nobel prize, and he is surely a name which should be remembered as one of the greatest economists of our time.