Forward Thinking

When we last checked in with TIME's Board of Economists, at Davos in February, they were already warning that the economic woes of the U.S. were likely to spread to the rest of the world. So with America facing its biggest crisis since Pearl Harbor, what happens now?

Joseph Stiglitz is professor of economics at Columbia University, former chief economist at the World Bank, and former economic adviser to President Bill Clinton. He was awarded the Nobel Prize for economic science in 2001:

"The U.S. economy was clearly sliding into a recession. The attack pushed...

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