Joseph Stiglitz Quotes

Most Famous Joseph Stiglitz Quotes of All Time!

We have created a collection of some of the best joseph-stiglitz quotes so you can read and share anytime with your friends and family. Share our Top 10 Joseph Stiglitz Quotes on Facebook, Twitter, and Pinterest.

Popular Quotes Topics for You.

High levels of economic inequality lead to imbalances in political power, as those at the top use their economic weight to shape our politics in ways that give them more economic power.

There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.

Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.

I grew up in a family in which political issues were often discussed, and debated intensely.

I went to public schools, and while Gary was, like most American cities, racially segregated, it was at least socially integrated - a cross section of children from families of all walks of life.

The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.

My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst.

In debate, one randomly was assigned to one side or the other. This had at least one virtue - it made one see that there was more than one side to these complex issues.

I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard.

Amherst is a liberal arts college, committed to providing students with a broad education.

The notion that every well educated person would have a mastery of at least the basic elements of the humanities, sciences, and social sciences is a far cry from the specialized education that most students today receive, particularly in the research universities.

But while I loved all of these courses, there was an irresistible attraction of economics.

I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights.

Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.

My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth.

If stability and efficiency required that there existed markets that extended infinitely far into the future - and these markets clearly did not exist - what assurance do we have of the stability and efficiency of the capitalist system?

Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation.

Economists often like startling theorems, results which seem to run counter to conventional wisdom.

But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.

As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.

I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous.

I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are.

I knew that discrimination existed, even though there were many individuals who were not prejudiced.

Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.

International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.

Bitcoin is successful only because of its potential for circumvention, lack of oversight.

If manufacturing jobs do come back to the U.S., they will be done by robots in hi-tech parts of the country rather than the Rust Belt states.

For the president of the United States, reputation does matter. The reputation of the United States does matter. We are dealing with countries all over the world. They want to know if your word is good. Trump's word is not good.

I don't think we can have democracies that work where most of the people are not benefiting economically, where most of the people are worried about their job security.

Society can't function without shared prosperity.

The bank bailout should have been more focused on helping small and medium sized banks, on helping homeowners. I think the trade agreements are a disaster.

It's very hard to persuade a young person who has seen the Great Recession, who has seen all the problems with inequality, to tell them inequality is not important and that markets are always efficient. They'd think you're crazy.

When you don't have equality of opportunity because you don't have equal access to education, it just seems so outrageous. It weakens our economy and leads to more inequality.

We have a locale-based education system; we have increasing economic segregation. We clearly need a larger federal program to try to help disadvantaged districts.

The reality is that what we did in 2010 with the Dodd-Frank wasn't enough.

The diversity of Europe is its strength. But for a single currency to work, over a region with enormous economic and political diversity, is not easy.

The euro zone was driven by the neoliberal view that markets are always efficient. That in itself is political. There was no pressing economic need that the euro was required to solve, but leaders believed that it would foster growth.

In the end, the politics of the euro zone weren't strong enough to create a fully integrated fiscal union with a common banking system, etc.

A single currency entails a fixed interest rate, which means countries can't manage their own currency to suit their own needs. You need a variety of institutions to help nations for which the policies aren't well suited. Europe introduced the euro without providing those structures.

America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow.

China-led globalization in some ways worries me because they are not concerned about human rights, labor rights. They probably aren't even really concerned about competitive marketplaces. So in some ways, they're like Mr. Trump.

It isn't inevitable that we have a globalization which is used by the corporations not to pay taxes. It is not inevitable that we have a form of globalization in which corporations use the threat of moving jobs abroad to lower wages. None of this is inevitable.

We could have managed globalization in ways that ordinary citizens would have benefited rather than just the corporations. Trade is beneficial. There are gains to be had from taking advantage of comparative advantage and specialization. That's true, if you manage globalization right.

When you have a highly divided society, it's hard to come together to make investments in the common good.

Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to happen in the United States, and it's not going to happen in Europe.

Guys, we are trying to share Unique Joseph Stiglitz Quotes, so you will not get to read the same things again and again on our website. You can also share your favorites on Facebook or send them to a friend who loves to reading quotes.