Nobel Laureate Economist Joseph Stiglitz receives the title of doctor honoris causa of the NKUA’s Department of Economics

Nobel Laureate Economist Joseph Stiglitz was awarded the title of doctor honoris causa of the Department of Economics of the NKUA’s School of Economics and Political Sciences.

The awarding ceremony took place on Tuesday, 15 October 2024, at 19:00, at the Great Hall of the National and Kapodistrian University of Athens.

Addressing the ceremony was the Rector of the National and Kapodistrian University of Athens, Professor Gerasimos Siasos.

It was Professor at the NKUA’s Department of Economics, Mr Andreas Papandreou, who presented the work and personality of the honouree.

Immediately afterwards, the Chair of the Department of Economics of the NKUA’s School of Economics and Political Sciences, Professor Stylianos Kotsios, read the Department’s Resolution, the Award, and the Honorary Diploma.

Then, the Dean of the School of Economics and Political Sciences, Professor Nikolaos Eriotis, invested the honouree with the gown of the School.

The ceremony concluded with the honouree, Nobel Laureate Professor Joseph Stiglitz, giving a speech entitled ‘Road to Freedom: Economics and the Good Society’.

In his address to the honouree, the Rector of NKUA, Professor Gerasimos Siasos, said the following:

‘In keeping with a long-standing tradition of our Institution to celebrate those who have contributed the most to science and society, it is with great joy that we confer today a high honour of our University, the title of doctor honoris causa, awarded by the NKUA’s School of Economics and Political Sciences to Nobel Laureate Professor Joseph Stiglitz, one of the greatest and most influential thinkers of our time.

Joseph Stiglitz is not only an acclaimed Economist. He is also a figure who has fundamentally shaped how we understand contemporary economies and their challenges.

His work and presence have considerably influenced global economics, social justice, and sustainable development.

With over fifty years of academic and research activity, Mr Stiglitz has earned international renown for his innovative thought and dedication to reducing social and economic inequities.

His pioneering theory of markets with asymmetric information, which earned him the Nobel Prize in Economics in 2001, is one of the most important developments in the economic thought of the 20^th century. This theory exposes the flaws of traditional approaches, demonstrating that markets are not always efficient, and that imperfect information can lead to failures with dire consequences for society and its well-being.

Professor Stiglitz’s influence is not limited to the academic field alone. Stiglitz has been a global policymaker in serving as Chief Economist for the World Bank and Chairman of the US Council of Economic Advisers. These posts allowed him to put his theoretical ideas into practice, offering real answers to global concerns.

His academic career at some of the world’s top Universities, including Yale, Stanford, Princeton, and Columbia—alongside his more than 40 honorary doctorates—reflects Professor Stiglitz’s impact on economic theory and practice at the international level.

It is nevertheless his struggle for a more just society that makes Joseph Stiglitz stand out, as through his articles he opened the debate about global inequalities and highlighted the need for a new form of globalization.

Stiglitz fiercely denounces the disparities that plague contemporary societies while advocating for progressive taxation, access to affordable healthcare, universal education, and decent housing for everyone. His commitment to addressing social inequalities and insistence on the need for policies that protect the most vulnerable make him a beacon of hope and change.

In addition, Stiglitz has emerged as one of the most influential voices of reason in the worldwide discussion over climate economics. He frequently emphasizes that modern economies must work under terms that ensure long-term viability without sacrificing social cohesion or environmental responsibility.

The esteemed Professor at the Department of Economics, Mr Andreas Papandreou, will now take the floor. He will give us a more detailed image of Mr Stiglitz and discuss a globally renowned scholar whose work has shaped the contemporary economy and changed how we understand global challenges.

 Dear Professor Stiglitz,

On behalf of the Rectory Authorities of the National and Kapodistrian University of Athens, I would like to express my sincere congratulations.

It is a great honour for the academic community of the National and Kapodistrian University of Athens to welcome you to our Institution.

We are proud to acknowledge your great contribution to science and society, and deeply grateful to be inspired by your work.

We wish you all the best in the progress of your scientific work and your future endeavours.

Thank you.’