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" Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist. "

Joseph Stiglitz

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" 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

" I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard. "

Joseph Stiglitz

" There is a broad consensus, not only in the United States but in most of the world, that if you are in an economic downturn, you need to stimulate. Germany seems to be an exception. "

Joseph Stiglitz

" The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits. "

Joseph Stiglitz

" With the election of Trump, America's soft power has taken a big hit. The United States has moved from a position of leadership in the creation of a rules-based international system to a position of leadership in its destruction and the creation of a regime of global protectionism. The damage will be long-lasting. "

Joseph Stiglitz

" 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

" Globalization and trade liberalization were supposed to make us all better off through the mechanism of trickle-down economics. What we seemed to be seeing instead was trickle-up economics, accompanied by a destruction of democratic politics, as we moved ever closer to a system of 'one dollar, one vote' as opposed to 'one person, one vote.' "

Joseph Stiglitz

" It isn't inevitable that we have a globalization which is used by the corporations not to pay taxes. It is not inevitable that we have a form of globalization in which corporations use the threat of moving jobs abroad to lower wages. None of this is inevitable. "

Joseph Stiglitz

" If manufacturing jobs do come back to the U.S., they will be done by robots in hi-tech parts of the country rather than the Rust Belt states. "

Joseph Stiglitz

" What separates developing countries from developed countries is as much a gap in knowledge as a gap in resources. "

Joseph Stiglitz

" If stability and efficiency required that there existed markets that extended infinitely far into the future - and these markets clearly did not exist - what assurance do we have of the stability and efficiency of the capitalist system? "

Joseph Stiglitz

" When markets fail, as they often do, collective action becomes imperative. "

Joseph Stiglitz

" 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

" 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

" 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

" A lot of my book, 'The Price of Inequality,' is about why there has been an increase in rent-seeking. "

Joseph Stiglitz

" Letting bygones be bygones is a basic principle in economics. "

Joseph Stiglitz

" 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

" 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

" If I came home with a grade of A, my father would say, 'There must have been a lot of dummies in that class.' "

Joseph Stiglitz

" 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

" 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

" When you have a highly divided society, it's hard to come together to make investments in the common good. "

Joseph Stiglitz

" I grew up in a family in which political issues were often discussed, and debated intensely. "

Joseph Stiglitz

" Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis. "

Joseph Stiglitz

" When you're in government, you have a big impact in Washington, but Washington may not be doing very much. "

Joseph Stiglitz

" America will suffer under Trump. "

Joseph Stiglitz

" Bitcoin is successful only because of its potential for circumvention, lack of oversight. "

Joseph Stiglitz

" Hedge funds are not noted for their long-term thinking - for them, a quarter is an eternity. "

Joseph Stiglitz

" Society can't function without shared prosperity. "

Joseph Stiglitz