We’ve collected the best Joseph Stiglitz Quotes. Use them as an inspiration.
With the election of Trump, America‘s soft power has taken a big hit. The United States has moved from a position of leadership in the creation of a rules-based international system to a position of leadership in its destruction and the creation of a regime of global protectionism. The damage will be long-lasting.
Under Ronald Reagan in the United States and Margaret Thatcher in the U.K., there was a rewriting of the basic rules of capitalism. These two governments changed the rules governing labour bargaining, weakening trade unions, and they weakened anti-trust enforcement, allowing more monopolies to be created.
But while I loved all of these courses, there was an irresistible attraction of economics.
Trump will fail even in his proclaimed goal of reducing the trade deficit, which is determined by the disparity between domestic savings and investment.
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor.
Donald Trump’s astonishing victory in the U.S. presidential election has made one thing abundantly clear: too many Americans – particularly white male Americans – feel left behind.
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.
America will suffer under Trump.
I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights.
People at the top spend less money than those at the bottom, so when you have redistribution toward the top, aggregate demand goes down. Unless you intervene, you’re going to have a weak economy unless something else happens.
To someone like me, who has watched trade negotiations closely for more than a quarter-century, it is clear that U.S. trade negotiators got most of what they wanted. The problem was with what they wanted. Their agenda was set, behind closed doors, by corporations.
I knew that discrimination existed, even though there were many individuals who were not prejudiced.
America’s role in the global economy inevitably was going to diminish; we’re smaller relative to – as China, India, other emerging markets grow.
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.
The reality is that what we did in 2010 with the Dodd-Frank wasn’t enough.
Trump can bring jobs back, but they will be minimal-wage jobs, not the high-paying jobs of the 1950s.
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.
Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
I grew up in a family in which political issues were often discussed, and debated intensely.
Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.
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.
China, with its large emerging middle class, is among the big beneficiaries of globalization.
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.
Ensuring preschool education for all and investing more in public schools is essential if the U.S. is to avoid becoming a neo-feudal country where advantages and disadvantages are passed on from one generation to the next.