Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
JOSEPH STIGLITZIt’s easy to get rich by getting a state asset at a deep discount.
More Joseph Stiglitz Quotes
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American inequality didn’t just happen. It was created.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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I grew up in a family in which political issues were often discussed, and debated intensely.
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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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GDP tells you nothing about sustainability.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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It’s expensive to keep 2.3 million people in prison.
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Amherst is a liberal arts college, committed to providing students with a broad education.
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Ask not what your country can do for you, ask what you can do for your country.
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In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
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Society can’t function without shared prosperity.
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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 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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The facts shouldn’t get in the way of a pleasant fantasy.
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The U.S. basically wrote the rules and created the institutions of globalisation.
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Letting bygones be bygones is a basic principle in economics.
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It is trust, more than money, that makes the world go round.
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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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Climate change is a reality.
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But while I loved all of these courses, there was an irresistible attraction of economics.
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It’s easy to get rich by getting a state asset at a deep discount.
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Loose money and light regulation were a toxic mixture. It exploded.
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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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Development is about transforming the lives of people, not just transforming economies.
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The extra curricular activity in which I was most engaged – debating – helped shape my interests in public policy.
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When I said “the pocket of the banks,” it is not necessarily a mercenary relationship. It is a mindset.
JOSEPH STIGLITZ