On January 20, 2010, New America welcomed distinguished economist Joseph Stiglitz in presenting his new book, Freefall: America, Free Markets, and the Sinking of the World Economy. Dr. Stiglitz began his talk by stating that the economy prior to the collapse had been sick for quite some time; indeed, according to Dr. Stiglitz, the economic collapse had been highly predictable. The cause of the financial crisis had been the false assumption that markets are self-regulating. However, Dr.