i find stiglitz such a treat to listen to, for the precise reason that he's such a master logician. his arguments are just lucid. i'm constantly finding myself practically finishing his sentences - and not because i have any deeper insight, beyond being decently read on the topic, and simply because he's got that much flow.

what he's really doing in this presentation is masterfully explaining why classical economic theory is useless unless it is applied to an agrarian economy, which is a boat that sailed nearly two hundred years ago over most of the planet.