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Title: To err is human. To err this much is Stiglitz
Review: Although, as Stiglitz points out several times, capitalism is not perfect at transmitting information through the pricing system, he fails to demonstrate how state controlled firms could possibly do any better. He correctly observes that firms operate internally without a price system, but he also fails to observe that individual firms are small in comparison to the market, which is what allows firms to calculate how resources are used internally. This book is full of large errors and over simplifications of the regulatory and market process. However, if you're a serious socialist, it's the best book out there for you.
