Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
JOSEPH STIGLITZInternational lending banks need to focus on areas where private investment doesn’t go, such as infrastructure projects, education and poverty relief.
More Joseph Stiglitz Quotes
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When markets fail, as they often do, collective action becomes imperative.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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The problem is a lot of what is called economics is not economics. It is more ideology or religion.
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Bitcoin is successful only because of its potential for circumvention, lack of oversight.
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Letting bygones be bygones is a basic principle in economics.
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What you measure affects what you do. If you don’t measure the right thing, you don’t do the right thing.
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The U.S. won’t be free of Covid-19 until the world is.
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The reason that the invisible hand often seems invisible is that it is often not there.
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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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The U.S. basically wrote the rules and created the institutions of globalisation.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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Society can’t function without shared prosperity.
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It’s easy to get rich by getting a state asset at a deep discount.
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We won’t have an economic recovery until Covid-19 is under control.
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Multinational corporations must pay their fair share of taxes.
JOSEPH STIGLITZ