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The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.

Joseph Stiglitz

Related Topics

Development Economy Surprise

Bagwalas

Popular Authors

Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

It’s expensive to keep 2.3 million people in prison.
JOSEPH STIGLITZ

Expensive People Prison
I grew up in a family in which political issues were often discussed, and debated intensely.
JOSEPH STIGLITZ

Debt Discuss Family Grow Up Intense Politics
Letting bygones be bygones is a basic principle in economics.
JOSEPH STIGLITZ

Economy Principle
The extra curricular activity in which I was most engaged – debating – helped shape my interests in public policy.
JOSEPH STIGLITZ

Activity Circular Debt Help Interest Policy Public
When I said “the pocket of the banks,” it is not necessarily a mercenary relationship. It is a mindset.
JOSEPH STIGLITZ

Bank Mindset Pocket
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
JOSEPH STIGLITZ

Country Development Infrastructure Serious Trade
GDP tells you nothing about sustainability.
JOSEPH STIGLITZ

Economy GDP Sustain
The more divided a society becomes in terms of wealth, the more reluctant the wealthy are to spend money on common needs.
JOSEPH STIGLITZ

Money Need Society Spend Wealth
Inequality is a choice. It is not inevitable.
JOSEPH STIGLITZ

Choice Inequality Inevitable
Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
JOSEPH STIGLITZ

Bankrupt Capital Essential Investment
Loose money and light regulation were a toxic mixture. It exploded.
JOSEPH STIGLITZ

Mixture Money Toxic
Bitcoin is successful only because of its potential for circumvention, lack of oversight.
JOSEPH STIGLITZ

Bitcoin Lack Oversight Potential Success
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
JOSEPH STIGLITZ

Conventional Counter Economy Result Wisdom
Society can’t function without shared prosperity.
JOSEPH STIGLITZ

Function Prosperity Share Society
What you measure affects what you do. If you don’t measure the right thing, you don’t do the right thing.
JOSEPH STIGLITZ

Affect Measure Right
Poverty is what we call the extremes at the bottom.
JOSEPH STIGLITZ

Bottom Country Extreme Poverty

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