Growth is more important than inflation: Joseph Stiglitz

"In a trade-off between growth and moderate inflation, I would plump for growth." That, clearly is a cue for the Reserve Bank of India, from Nobel prize-winning economist Joseph Stiglitz. "The rating agencies are the ones that need credibility, not the nations or other entities they rate," he says, although he is quick to add that there are still some people out there in the financial markets who perversely take these agencies seriously, meaning that ratings are not completely beside the point. But Joseph Stiglitz does not waffle when he gives his opinions. 

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