JOSEPH STIGLITZ usually teaches at New York’s Columbia University, but now the Nobel Prize-winning economist is coming to Britain as part of Labour’s bid to challenge the Tories’ austerity claptrap.

The Price of Inequality author will deliver one of nine free public lectures announced by Labour yesterday.

The New Economics series starts next Tuesday when Professor Mariana Mazzucato, author of the Entrepreneurial State: Debunking Public v Private Sector Myths, delivers a talk on “market fixing to market creating and shaping.”