professor at columbia and a winner of the 2001 nobel prize in economics as well as the 1979 john bates clark medal. he served in the clinton administration as the chair of the president's council of economic advisers followed by an appointment of senior vice president and chief economist of the world bank. he's a co-founder of the initiative for policy dialogue current president at the international economic association chair of the u.n. commission studying ways to reform the financial system and a member of the sftc committee on emerging regulatory issues. last year foreign policy magazine named him one of the top 100 global thinkers. dr. stiglitz, thank you very much for being with us. >> thank you for holding these hearings. i welcome this opportunity to share with you my thoughts on senate bill 1138 and the broader subject of how we can best finance research on hiv/aids and for health more generally. i should begin by saying that the approach taken by the bill is exactly right. it reflects an approach that i have been arguing for years include my book "making globalization work" and the

professor at columbia university and winner of the 2001 nobel prize in economics as well as the 1979 john bates clark medal. he served in the chair of the economic advisers followed by an appointment of chief adviser of the world bank, he is a co-founder of the initiative of dialogue economic association, chair of the u.n. commission to perform ways of the financial system and a member of the cdc on one of the top 100 global thinkers. thanks very much for being with us. >> thank you very much for holding these hearings. i welcome the opportunity to share with you my thoughts of bill 1138 and the broader subject of how we can best enhance research on hiv/aids and help generally. i would say the approach taken on the bill is exactly right. it reflects the approach i've been arguing for for years, including my book "making globalization work ". the timing of this hearing couldn't be better. coming soon after the release of the report and the consultive expert work of the world health organization. i was able to present a keynote address in the launch of the report in geneva just over a week ago. interes