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The reason that the invisible hand often seems invisible is that it is often not there.

Joseph Stiglitz

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Invisible Reason

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Amherst is a liberal arts college, committed to providing students with a broad education.
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The more divided a society becomes in terms of wealth, the more reluctant the wealthy are to spend money on common needs.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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Development is about transforming the lives of people, not just transforming economies.
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Poverty is what we call the extremes at the bottom.
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What you measure affects what you do. If you don’t measure the right thing, you don’t do the right thing.
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The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
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The problem is a lot of what is called economics is not economics. It is more ideology or religion.
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Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
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When markets fail, as they often do, collective action becomes imperative.
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The facts shouldn’t get in the way of a pleasant fantasy.
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If the President asked you to help, I don’t think anybody could refuse, unless one felt that one couldn’t be effective.
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It is trust, more than money, that makes the world go round.
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We won’t have an economic recovery until Covid-19 is under control.
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International lending banks need to focus on areas where private investment doesn’t go, such as infrastructure projects, education and poverty relief.
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Loose money and light regulation were a toxic mixture. It exploded.
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