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

Joseph Stiglitz

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Activity Circular Debt Help Interest Policy Public

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

Economists often like startling theorems, results which seem to run counter to conventional wisdom.
JOSEPH STIGLITZ

Conventional Counter Economy Result Wisdom
Loose money and light regulation were a toxic mixture. It exploded.
JOSEPH STIGLITZ

Mixture Money Toxic
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

Economy Education Equality Inequality Opportunity
Ask not what your country can do for you, ask what you can do for your country.
JOSEPH STIGLITZ

Country Independence Inspirational
Inequality is a choice. It is not inevitable.
JOSEPH STIGLITZ

Choice Inequality Inevitable
GDP tells you nothing about sustainability.
JOSEPH STIGLITZ

Economy GDP Sustain
It’s easy to get rich by getting a state asset at a deep discount.
JOSEPH STIGLITZ

Asset Discount Rich Strategy
Development is about transforming the lives of people, not just transforming economies.
JOSEPH STIGLITZ

Development Economy Live People Transformation
Bitcoin is successful only because of its potential for circumvention, lack of oversight.
JOSEPH STIGLITZ

Bitcoin Lack Oversight Potential Success
Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
JOSEPH STIGLITZ

Bankrupt Capital Essential Investment
The facts shouldn’t get in the way of a pleasant fantasy.
JOSEPH STIGLITZ

Fact Fantasy Pleasant
Workers’ rights should be a central focus of development.
JOSEPH STIGLITZ

Central Development Focus Rights
Poverty is what we call the extremes at the bottom.
JOSEPH STIGLITZ

Bottom Country Extreme Poverty
American inequality didn’t just happen. It was created.
JOSEPH STIGLITZ

Country Creation Happen Inequality
We won’t have an economic recovery until Covid-19 is under control.
JOSEPH STIGLITZ

Control Covid-19 Economy Recover
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
But while I loved all of these courses, there was an irresistible attraction of economics.
JOSEPH STIGLITZ

Attraction Economy
Society can’t function without shared prosperity.
JOSEPH STIGLITZ

Function Prosperity Share Society
The problem is a lot of what is called economics is not economics. It is more ideology or religion.
JOSEPH STIGLITZ

Economy Ideology Problem Religion
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
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
JOSEPH STIGLITZ

Country Development Infrastructure Serious Trade
The reason that the invisible hand often seems invisible is that it is often not there.
JOSEPH STIGLITZ

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

Development Economy Surprise
Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
JOSEPH STIGLITZ

Different Economy Fundamental Group Involvement Policy Politics
Letting bygones be bygones is a basic principle in economics.
JOSEPH STIGLITZ

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

Expensive People Prison
When markets fail, as they often do, collective action becomes imperative.
JOSEPH STIGLITZ

Bitcoin Crypto Currency Failure Market Share Market

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