Durham University honorary degree for Nobel Laureate economist
(23 September 2005)
One of the world’s leading economists has been saluted by Durham Business School with an honorary doctorate as part of the School’s 40th birthday celebrations.Joseph Stiglitz, currently University Professor at Columbia University in New York, was recognised at a special ceremony held in his honour at Durham Castle on 22 September. Durham University Vice-Chancellor Sir Kenneth Calman conferred the degree of Doctor of Civil Law.
The Professor received the Nobel Prize in economics in 2001.
Stiglitz helped create a new branch of economics – the economics of information – exploring the consequences of information asymmetries and pioneered concepts, which have become standard tools of policy analysts across the globe.
Professor Tony Antoniou, Dean of the Business School, said: “We are delighted to have the opportunity to recognise Professor Stiglitz’s contribution to economics in this our special 40th birthday year. His work has had a major influence on current thinking on macro-economics and monetary theory.”
Professor Stiglitz commented: “It was a great privilege to receive this honorary degree from Durham University. I particularly enjoyed the opportunity to meet the students, staff and guests at Durham Business School."
Professor Stiglitz has taught at Princeton, Stanford, MIT and All Souls College, Oxford. He was a member of the Council of Economic Advisers (CEA) from 1993-95, served as chair of the CEA from 1995-97. He then became Chief Economist and Senior Vice-President of the World Bank from 1997-2000.