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Letting bygones be bygones is a basic principle in economics.

Joseph Stiglitz

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Economy Principle

Bagwalas

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

It is trust, more than money, that makes the world go round.
JOSEPH STIGLITZ

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

Bitcoin Lack Oversight Potential Success
The reason that the invisible hand often seems invisible is that it is often not there.
JOSEPH STIGLITZ

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

Behavior Debt Government Market Private
Development is about transforming the lives of people, not just transforming economies.
JOSEPH STIGLITZ

Development Economy Live People Transformation
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
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
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
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
JOSEPH STIGLITZ

Country Development Infrastructure Serious Trade
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
American inequality didn’t just happen. It was created.
JOSEPH STIGLITZ

Country Creation Happen Inequality
Poverty is what we call the extremes at the bottom.
JOSEPH STIGLITZ

Bottom Country Extreme Poverty
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
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

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