Economist and Nobel prize-winner Joseph Stiglitz is a former vice-president of the World Bank and a former adviser to President Bill Clinton. He is currently a professor at Columbia University in New York.

He was in Dublin today and gave a lecture about the subject of his new book, called 'Making Globalization Work'. He maintains that globalisation could benefit everyone on the planet.

He put forward radical new ways of dealing with crippling indebtedness of developing countries and a new system of global reserves to overcome international financial instability.

He also favours the use of an economically incentivised framework for dealing with the energy pollutions which create global warming and which threaten us all on a planetary scale.

He calls for reform of global institutions which as the UN, the IMF and the World Bank to make them capable of responding to the problems of today's age.

The 2006 ESRI Geary Lecture 'Making Globalisation Work'  was held this evening in Dublin's Burlington Hotel.  The lecture is organised each year and honours Dr R C Geary, the first director of the Institute, who has been described as the most eminent Irish statistician and economist of the twentieth century.