Stiglitz elected Foreign Member of Royal Society

15 May 2009

The Chair of the Brooks World Poverty Institute at The University of Manchester has been elected a Foreign Member of the country’s most prestigious scientific academy.

Professor Stiglitz
Professor Stiglitz

Professor Joe Stiglitz, who won the Nobel prize for economics in 2001, will join illustrious names from around the world elected to the Royal Society and famed for their scientific discoveries and achievements.

He is one of the few social scientists to receive the honour usually awarded to the physical sciences.

He was Chief Economist and Senior Vice-President of the World Bank from 1997-2000 and was also Chairman of the Council of Economic Advisers in the Clinton White House.

Professor Stiglitz is widely known for his critical stance on the privatization and liberalization policies of the World Bank and the IMF and was awarded the Nobel Prize in economics for his analyses of markets with asymmetric information in 2001

Each year, up to eight Foreign Members are elected through a peer review process that  culminates in a vote by existing Fellows.

There are currently 48 Nobel Prize winners among the Foreign Members including one peace prize winner.

The Royal Society is the world's oldest scientific academy and was founded in 1660.

Professor Stiglitz said: “I am delighted to receive this honour and join this remarkable group Fellows and Foreign Members of the Royal Society.

“They are international leaders in their respective fields.

“I am especially honoured to be one of the few social scientist to receive this award”.

Notes for editors

For media enquiries contact:

Mike Addelman
Media Relations Officer
Faculty of Humanities
The University of Manchester
0161 275 0790
07717 881 567