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" A lot of my book, 'The Price of Inequality,' is about why there has been an increase in rent-seeking. "
Joseph Stiglitz
Why
Price
Lot
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" The IP standards advanced countries favour typically are designed not to maximise innovation and scientific progress, but to maximise the profits of big pharmaceutical companies and others able to sway trade negotiations. "
Joseph Stiglitz
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Progress
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" The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation. "
Joseph Stiglitz
May
Spirit
Paris
" Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to happen in the United States, and it's not going to happen in Europe. "
Joseph Stiglitz
Going
Economy
Me
" Ensuring preschool education for all and investing more in public schools is essential if the U.S. is to avoid becoming a neo-feudal country where advantages and disadvantages are passed on from one generation to the next. "
Joseph Stiglitz
Country
Education
Generation
" China, with its large emerging middle class, is among the big beneficiaries of globalization. "
Joseph Stiglitz
Big
China
Class
" In the end, the politics of the euro zone weren't strong enough to create a fully integrated fiscal union with a common banking system, etc. "
Joseph Stiglitz
Politics
Create
End
" Globally, manufacturing jobs are on the decline, simply because productivity growth has outpaced growth in demand. "
Joseph Stiglitz
Growth
Manufacturing
Productivity
" A less healthy America is not going to be as productive. "
Joseph Stiglitz
Healthy
Productive
America
" As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns. "
Joseph Stiglitz
Pay
Work
Problem
" Negative interest rates hurt banks' balance sheets, with the 'wealth effect' on banks overwhelming the small increase in incentives to lend. "
Joseph Stiglitz
Wealth
Hurt
Small
" Too many countries of the former Soviet bloc remain under the control of authoritarian leaders, including some, like the Russian president, Vladimir Putin, who have learned how to maintain a more convincing facade of elections than their communist predecessors. "
Joseph Stiglitz
Like
Control
More
" The financial sector has so distorted salaries that physicists are getting drawn into the financial sector. All that has led to an undersupply of people committed to the public sector. "
Joseph Stiglitz
Getting
Led
People
" China-led globalization in some ways worries me because they are not concerned about human rights, labor rights. They probably aren't even really concerned about competitive marketplaces. So in some ways, they're like Mr. Trump. "
Joseph Stiglitz
Me
Human Rights
Globalization
" It is always better to tax bad things than good things. "
Joseph Stiglitz
Good Things
Better
Bad
" While it was an experiment to bring them together, nothing has divided Europe as much as the euro. "
Joseph Stiglitz
Nothing
Bring
Divided
" America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow. "
Joseph Stiglitz
America
India
Grow
" An economy in which most citizens are doing worse year after year - an economy like America's - is not likely to do well over the long haul. "
Joseph Stiglitz
Year
Long
Economy
" I began my career as a physicist. And in the White House, my buddies were the people from the White House office of science and technology policy. But a lot of the people were lawyers. They like winning an argument, but science-based, evidence-based reasoning was just sort of not in their framework. "
Joseph Stiglitz
People
Winning
Technology
" If Trump actually wants to help those who have been left behind, he must go beyond the ideological battles of the past. "
Joseph Stiglitz
Go
Past
Help
" Technology has been advancing so fast that the number of jobs globally in manufacturing is declining. There is no way that Trump can bring significant numbers of manufacturing jobs back to the U.S. "
Joseph Stiglitz
Numbers
Fast
Manufacturing
" Hedge funds are not noted for their long-term thinking - for them, a quarter is an eternity. "
Joseph Stiglitz
Thinking
Eternity
Long-Term
" Trump can bring jobs back, but they will be minimal-wage jobs, not the high-paying jobs of the 1950s. "
Joseph Stiglitz
Will
Jobs
Trump
" Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation. "
Joseph Stiglitz
Logic
Every Day
Exploring
" Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis. "
Joseph Stiglitz
Crisis
Office
Good
" The diversity of Europe is its strength. But for a single currency to work, over a region with enormous economic and political diversity, is not easy. "
Joseph Stiglitz
Diversity
Political
Strength
" Growth is not an objective in itself; we should be concerned with standards of living. "
Joseph Stiglitz
Objective
Standards
Growth
" Trump has been criticized by mainstream Republicans for not really being one of them. But he is definitely one of them when it comes to the central palliative for any ill befalling the country: a tax cut for the rich. "
Joseph Stiglitz
Rich
Tax
Republicans
" By taxing CO2, firms and households would have an incentive to retrofit for the world of the future. The tax would also provide firms with incentives to innovate in ways that reduce energy usage and emissions - giving them a dynamic competitive advantage. "
Joseph Stiglitz
Tax
Giving
Future
" America will suffer under Trump. "
Joseph Stiglitz
America
Will
Trump
" The bank bailout should have been more focused on helping small and medium sized banks, on helping homeowners. I think the trade agreements are a disaster. "
Joseph Stiglitz
Disaster
Trade
Bank