Stiglitz specifically wrote about minimal interventions of e.g. just supporting/hosting (reliable) information exchanges.
His proof showed that there were some markets where there was no value for any individual player to "pay" for the information needed to improve a market, so it stayed bad. Stiglitz' career definitely moved in a direction of more interventionist policies (of which I'm probably more sympathetic than you to some/many of them).
Are you suggesting that I'm trying to curry political favor with...Stiglitz (or someone else)?
Are you suggesting that I'm trying to curry political favor with...Stiglitz (or someone else)?