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

Joseph Stiglitz

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Conventional Counter Economy Result Wisdom

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

Loose money and light regulation were a toxic mixture. It exploded.
JOSEPH STIGLITZ

Mixture Money Toxic
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
Workers’ rights should be a central focus of development.
JOSEPH STIGLITZ

Central Development Focus Rights
If the President asked you to help, I don’t think anybody could refuse, unless one felt that one couldn’t be effective.
JOSEPH STIGLITZ

Ask Effective Help President Refuse
The facts shouldn’t get in the way of a pleasant fantasy.
JOSEPH STIGLITZ

Fact Fantasy Pleasant
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
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
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
JOSEPH STIGLITZ

Country Development Infrastructure Serious Trade
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
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
The U.S. won’t be free of Covid-19 until the world is.
JOSEPH STIGLITZ

Country Covid-19 World
Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
JOSEPH STIGLITZ

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

Conventional Counter Economy Result Wisdom
The reason that the invisible hand often seems invisible is that it is often not there.
JOSEPH STIGLITZ

Invisible Reason
Inequality is a choice. It is not inevitable.
JOSEPH STIGLITZ

Choice Inequality Inevitable
But while I loved all of these courses, there was an irresistible attraction of economics.
JOSEPH STIGLITZ

Attraction Economy
Development is about transforming the lives of people, not just transforming economies.
JOSEPH STIGLITZ

Development Economy Live People Transformation
Climate change is a reality.
JOSEPH STIGLITZ

Change Climate One Liner Reality
GDP tells you nothing about sustainability.
JOSEPH STIGLITZ

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

Development Economy Surprise
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 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
Ask not what your country can do for you, ask what you can do for your country.
JOSEPH STIGLITZ

Country Independence Inspirational

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