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Inequality is a choice. It is not inevitable.

Joseph Stiglitz

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Choice Inequality Inevitable

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The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
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Development Economy Surprise
Amherst is a liberal arts college, committed to providing students with a broad education.
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Broad College Education Student
Inequality is a choice. It is not inevitable.
JOSEPH STIGLITZ

Choice Inequality Inevitable
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
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Conventional Counter Economy Result Wisdom
It’s easy to get rich by getting a state asset at a deep discount.
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Asset Discount Rich Strategy
Bitcoin is successful only because of its potential for circumvention, lack of oversight.
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Bitcoin Lack Oversight Potential Success
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.
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Economy Education Equality Inequality Opportunity
But while I loved all of these courses, there was an irresistible attraction of economics.
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Attraction Economy
It is trust, more than money, that makes the world go round.
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Inspirational Money Round Trust World
Society can’t function without shared prosperity.
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Function Prosperity Share Society
American inequality didn’t just happen. It was created.
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Country Creation Happen Inequality
Letting bygones be bygones is a basic principle in economics.
JOSEPH STIGLITZ

Economy Principle
GDP tells you nothing about sustainability.
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Economy GDP Sustain
The reason that the invisible hand often seems invisible is that it is often not there.
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Invisible Reason
Poverty is what we call the extremes at the bottom.
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Bottom Country Extreme Poverty
When I said “the pocket of the banks,” it is not necessarily a mercenary relationship. It is a mindset.
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Bank Mindset Pocket
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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Bank Education Focus Infrastructure International Investment Poverty Private Project
When markets fail, as they often do, collective action becomes imperative.
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Bitcoin Crypto Currency Failure Market Share Market
It’s expensive to keep 2.3 million people in prison.
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Expensive People Prison
Multinational corporations must pay their fair share of taxes.
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Business Corporation Pay Tax
If the President asked you to help, I don’t think anybody could refuse, unless one felt that one couldn’t be effective.
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Ask Effective Help President Refuse
The U.S. basically wrote the rules and created the institutions of globalisation.
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Country Creation Global Institution Rule
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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Money Need Society Spend Wealth
We won’t have an economic recovery until Covid-19 is under control.
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Control Covid-19 Economy Recover
The U.S. won’t be free of Covid-19 until the world is.
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Country Covid-19 World
Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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Bankrupt Capital Essential Investment
Development is about transforming the lives of people, not just transforming economies.
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Development Economy Live People Transformation

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