The work of the outstanding American economist, Nobel Prize laureate in economics (2001) J. Stiglitz, which is a direct continuation of his previous book “Globalization: Alarming Trends,” provides an in-depth analysis of the development of the US economy in the 20th century - early. XXI centuries The author reflects on the rapid development of the “new economy” based on information technology, showing its strengths and weaknesses. Stiglitz reveals the reasons for the transition of the rise of the 90s into corporate scandals and recession. In parallel, he demonstrates the inadequacy in the new conditions of policies arising from standard neoclassical economic thought, applying his theory of information asymmetry to it. The latter is of significant interest to Russia from the point of view of analyzing the mistakes of the reform period and developing a course for the future.