68 Joseph Stiglitz Quotes for You to Enjoy

Joseph Stiglitz

American Economist

Born: Feb 9, 1943

America Been Will Work World You

Related authors: Alan Greenspan Herbert A. Simon John Kenneth Galbraith Milton Friedman Paul A. Volcker Richard Thaler Robert Reich Thomas Sowell

Globalization and trade liberalization were supposed to make us all better off through the mechanism of trickle-down economics. What we seemed to be seeing instead was trickle-up economics, accompanied by a destruction of democratic politics, as we moved ever closer to a system of 'one dollar, one vote' as opposed to 'one person, one vote.' Joseph Stiglitz

Politics Vote Destruction Better Economics System Seeing Seemed Through Better Off Instead Supposed Democratic Globalization Make Trade Opposed Accompanied Were Dollar Off Person Closer Moved Us Mechanism Ever

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. Joseph Stiglitz

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. Joseph Stiglitz

Education You Equality Opportunity Our Weakens Seems More Outrageous Leads Economy Equal Because Inequality Access Just

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. Joseph Stiglitz

Me Rights Human Rights Worries Ways Some About Like Concerned Globalization Because Trump Labor Human Really Even Competitive

President Trump sees the world in transactional and zero-sum terms - if something is good for China, it must be bad for the U.S. By contrast, economists see the world in much more nuanced ways: if globalization is well-managed, it can be a positive-sum game, where both the U.S. and China gain; if it is badly managed, it can be negative-sum. Joseph Stiglitz

Good Game World President President Trump Ways Bad Must See Something More Sees Both Badly Economists Terms Globalization Trump Contrast Where Gain China Much Zero-Sum

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. Joseph Stiglitz

With neoliberalism discredited and austerity failed, we need to rewrite the rules of the economy once again. But this time in the right way. We need rules that focus on long-term economic growth, and the only kind of sustainable prosperity is shared prosperity. Joseph Stiglitz

Too many countries of the former Soviet bloc remain under the control of authoritarian leaders, including some, like the Russian president, Vladimir Putin, who have learned how to maintain a more convincing facade of elections than their communist predecessors. Joseph Stiglitz

Control Too President Facade Some Russian More Remain Putin Leaders Maintain Countries Like Learned How Than Authoritarian Soviet Predecessors Former Elections Convincing Communist Who Many Including

What separates developing countries from developed countries is as much a gap in knowledge as a gap in resources. Joseph Stiglitz

Knowledge Resources Developed Developed Countries Developing Developing Countries Countries Much Separates Gap

I began my career as a physicist. And in the White House, my buddies were the people from the White House office of science and technology policy. But a lot of the people were lawyers. They like winning an argument, but science-based, evidence-based reasoning was just sort of not in their framework. Joseph Stiglitz

Technology Science People Argument Science And Technology White White House Framework Lawyers Winning Physicist Buddies Like House Policy Sort Were Lot Began Office Just Reasoning Career

We share a common planet, and the world has learned the hard way that we have to get along and work together. We have learned, too, that cooperation can benefit all. Joseph Stiglitz

Work Together World Too Benefit Way Share Along Learned Get Common Work Together Planet Hard Hard Way Cooperation

After the destruction of New Orleans by Hurricane Katrina in 2005, the shutdown of much of New York City by Sandy in 2012, and now the devastation wrought on Texas by Harvey, the U.S. can and should do better. Joseph Stiglitz

The U.S. basically wrote the rules and created the institutions of globalisation. Joseph Stiglitz

Rules Institutions Wrote Globalisation Created Basically

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. Joseph Stiglitz

Inevitable Pay Corporations Jobs Threat Abroad Globalization None Wages Form Which Moving Taxes Lower Use Used

The diminishing economic role of the United States in the global economy means that global political power will also become more dispersed. The world will become multipolar. By clumsily re-asserting a wish for U.S. dominance, Donald Trump is accelerating the opposite. Joseph Stiglitz

World Political Political Power Will Power Wish Become States Diminishing More Economic Economy Global Global Economy Also Accelerate Opposite Trump Dominance Role Donald Donald Trump Means United United States

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. Joseph Stiglitz

Some people say we have this inequality because some people have been contributing much more to our society, and so it's fair that they get more. But then you look at the people who are at the top, and you realize they're not the people who have transformed our economy, our society. Joseph Stiglitz

You People Some People Society Our Top Say People Say Some More Fair Economy Look Because Inequality Been Contributing Get Transformed Realize Then Much Who

The IP standards advanced countries favour typically are designed not to maximise innovation and scientific progress, but to maximise the profits of big pharmaceutical companies and others able to sway trade negotiations. Joseph Stiglitz

Trump sees the world in terms of a zero-sum game. In reality, globalisation, if well managed, is a positive-sum force: America gains if its friends and allies - whether Australia, the E.U., or Mexico - are stronger. But Trump's approach threatens to turn it into a negative-sum game: America will lose, too. Joseph Stiglitz

Game Reality World Will Stronger Lose Too Approach Threatens Sees Allies Terms Globalisation Well Force Trump Mexico Australia Friends America Whether Gains Turn Zero-Sum

Under the rule of law, if the government wants to prevent firms from outsourcing and offshoring, it enacts legislation and adopts regulations to create the appropriate incentives and discourage undesirable behaviour. It does not bully or threaten particular firms or portray traumatised refugees as a security threat. Joseph Stiglitz

Government Law Appropriate Rule Rule Of Law Security Security Threat Threat Threaten Adopt Prevent Outsourcing Particular Does Discourage Undesirable Bully Behaviour Legislation Refugees Wants Create Incentives Regulations Portray

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. Joseph Stiglitz

Me Guidance Better Thought Before Gone Harvard Would Brother Counselor Had He Like Because His Than Large Amherst University

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

Education College Liberal Liberal Arts Broad Students Providing Committed Arts Amherst

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

Broad Development Economist MIT Intellectual Intellectual Development Pivotal Professional Amherst

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