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

Joseph Stiglitz

Related Topics

Different Economy Fundamental Group Involvement Policy Politics

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

Development Economy Surprise
Workers’ rights should be a central focus of development.
JOSEPH STIGLITZ

Central Development Focus Rights
International lending banks need to focus on areas where private investment doesn’t go, such as infrastructure projects, education and poverty relief.
JOSEPH STIGLITZ

Bank Education Focus Infrastructure International Investment Poverty Private Project
It is trust, more than money, that makes the world go round.
JOSEPH STIGLITZ

Inspirational Money Round Trust World
Bitcoin is successful only because of its potential for circumvention, lack of oversight.
JOSEPH STIGLITZ

Bitcoin Lack Oversight Potential Success
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
Amherst is a liberal arts college, committed to providing students with a broad education.
JOSEPH STIGLITZ

Broad College Education Student
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
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
Loose money and light regulation were a toxic mixture. It exploded.
JOSEPH STIGLITZ

Mixture Money Toxic
American inequality didn’t just happen. It was created.
JOSEPH STIGLITZ

Country Creation Happen Inequality
Multinational corporations must pay their fair share of taxes.
JOSEPH STIGLITZ

Business Corporation Pay Tax
Ask not what your country can do for you, ask what you can do for your country.
JOSEPH STIGLITZ

Country Independence Inspirational
Letting bygones be bygones is a basic principle in economics.
JOSEPH STIGLITZ

Economy Principle
Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
JOSEPH STIGLITZ

Behavior Debt Government Market Private
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
JOSEPH STIGLITZ

Country Development Infrastructure Serious Trade
When markets fail, as they often do, collective action becomes imperative.
JOSEPH STIGLITZ

Bitcoin Crypto Currency Failure Market Share Market
Development is about transforming the lives of people, not just transforming economies.
JOSEPH STIGLITZ

Development Economy Live People Transformation
Inequality is a choice. It is not inevitable.
JOSEPH STIGLITZ

Choice Inequality Inevitable
We won’t have an economic recovery until Covid-19 is under control.
JOSEPH STIGLITZ

Control Covid-19 Economy Recover
The U.S. basically wrote the rules and created the institutions of globalisation.
JOSEPH STIGLITZ

Country Creation Global Institution Rule
The facts shouldn’t get in the way of a pleasant fantasy.
JOSEPH STIGLITZ

Fact Fantasy Pleasant
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
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
Climate change poses an existential threat to the planet that is no less dire than that posed by North Korea’s nuclear ambitions.
JOSEPH STIGLITZ

Ambition Change Climate Existence Nuclear Planet

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