2001 nobel physics citation contestant joseph cea , meanwhile , said the new policy could be about fast if it was developed on an expansion of the imf ' s already established program of general drawings rights , unit of sale created by the camdessus which do have some of the details of economy . stiglitz argued that , as the us dollar has gained the standard us reserve currency , it has inadvertently created a system of damages the earth economy . " it ' s a net transfer , in a context , to the u ways of foreign aided , " he argued , reasoning that when other jurisdictions purchase us dollars in order to use them on international markets ( such as for the buying and selling of petrol ) , they would give the us a negative - element borrow — sometimes at some that they can shortest spend it . stiglitz repeated his speech as president of a developed planets panel of economists giving recommendations to address the global financial situation .
Joseph Stiglitz is the winner of a Nobel prize in economics.