Joseph Stiglitz: unsurprising Jeremy Corbyn is a Labour leadership contender

Anti-austerity figures have emerged because young people feel badly let down by centre-left governments such as Blair's, says Nobel economics laureate

A Nobel prize-winning economist has said it is unsurprising that an anti-austerity figure such as Jeremy Corbyn has emerged as a contender for the Labour leadership.

Speaking in London on Sunday, Joseph Stiglitz warned that policies from centre-left governments such as Tony Blair's had undermined the middle-ground message, partly by entrenching wealth for the very few.

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