The Nobel prize of Economics Joseph Stiglitz, US Corresponding Academician to the Real Academia de Ciencias Económicas y Financieras of Spain (RACEF), will reflect in Barcelona December 10 on "Why austerity does not work: Policies for equitable and sustainable growth in Spain and Europe". The event, organized by RACEF and La Obra Social "la Caixa" will be held at 19.00 h. in EspacioCaixa Palau Macaya (Passeig de Sant Joan, 108).

Stiglitz entered in the RACEF last September 14 and inaugurated its academic course inviting the European Central Bank (ECB) to emulate the US Federal Reserve providing liquidity to the European economy to combat the recession. The Nobel considered in his inaugural address that "European austerity accentuated social inequality and, therefore, economic inefficiency". Stiglitz used his presence in Spain to present his latest work, "The price of inequality".