Expanding on the Wicksell Lectures he presented at the Stockholm School of Economics in April 1990, Stiglitz (economics, Stanford U.; member, President Clinton's Council of Economic Advisers) explores the issues of both economic policy and theory now confronting nations in transition from market socialism to market economies. He presents a critique of the dominant neoclassical or Walrasian economic model, and presents his own alternative paradigm, based on an economics of information which delves more deeply into the theoretical and practical workings of market economies, socialism, and market socialism. Annotation copyright Book News, Inc. Portland, Or.