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" Bitcoin is successful only because of its potential for circumvention, lack of oversight. "
Joseph Stiglitz
Because
Only
Potential
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" What separates developing countries from developed countries is as much a gap in knowledge as a gap in resources. "
Joseph Stiglitz
Much
Knowledge
Resources
" When markets fail, as they often do, collective action becomes imperative. "
Joseph Stiglitz
Action
Markets
Collective
" If there is a silver lining in the Trump cloud, it is a new sense of solidarity over core values such as tolerance and equality, sustained by awareness of the bigotry and misogyny, whether hidden or open, that Trump and his team embody. "
Joseph Stiglitz
Cloud
Team
Equality
" What I argued in 'The Great Divide' is that societies can't function without trust, both politically and economically. "
Joseph Stiglitz
Trust
Divide
Function
" Trump sees the world in terms of a zero-sum game. In reality, globalisation, if well managed, is a positive-sum force: America gains if its friends and allies - whether Australia, the E.U., or Mexico - are stronger. But Trump's approach threatens to turn it into a negative-sum game: America will lose, too. "
Joseph Stiglitz
Game
World
Reality
" But while I loved all of these courses, there was an irresistible attraction of economics. "
Joseph Stiglitz
Attraction
Loved
Courses
" 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
" It's very clear that TPP was promoted by corporate interests, it was driven by ideology, not by economic science. And when they started looking at the net trade benefits, they are miniscule. "
Joseph Stiglitz
Trade
Started
Science
" To maximise global social welfare, policymakers should strongly encourage the diffusion of knowledge from developed to developing countries. "
Joseph Stiglitz
Welfare
Encourage
Knowledge
" In addition to offering benefits to those who invest, carry out research, and create jobs, higher taxes on land and real-estate speculation would redirect capital toward productivity-enhancing spending - the key to long-term improvement in living standards. "
Joseph Stiglitz
Improvement
Create
Research
" Society can't function without shared prosperity. "
Joseph Stiglitz
Prosperity
Function
Without
" Hedge funds are not noted for their long-term thinking - for them, a quarter is an eternity. "
Joseph Stiglitz
Thinking
Eternity
Long-Term
" The diminishing economic role of the United States in the global economy means that global political power will also become more dispersed. The world will become multipolar. By clumsily re-asserting a wish for U.S. dominance, Donald Trump is accelerating the opposite. "
Joseph Stiglitz
Political
Economy
Wish
" Trump will fail even in his proclaimed goal of reducing the trade deficit, which is determined by the disparity between domestic savings and investment. "
Joseph Stiglitz
Trade
Goal
Investment
" China, with its large emerging middle class, is among the big beneficiaries of globalization. "
Joseph Stiglitz
Big
China
Class
" I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights. "
Joseph Stiglitz
Generation
Like
Rights
" The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation. "
Joseph Stiglitz
May
Spirit
Paris
" It is always better to tax bad things than good things. "
Joseph Stiglitz
Good Things
Better
Bad
" It's very hard to persuade a young person who has seen the Great Recession, who has seen all the problems with inequality, to tell them inequality is not important and that markets are always efficient. They'd think you're crazy. "
Joseph Stiglitz
You
Crazy
Great
" Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist. "
Joseph Stiglitz
Development
Intellectual
Professional
" European officials thought that austerity was part of what they called their 'convergence policies,' of trying to bring countries together. Instead, it actually made things worse. There's more inequality within countries and more disparity across countries. "
Joseph Stiglitz
Thought
Together
Trying
" 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
" America will suffer under Trump. "
Joseph Stiglitz
America
Will
Trump
" Trump assumed office promising to 'drain the swamp' in Washington, D.C. Instead, the swamp has grown wider and deeper. "
Joseph Stiglitz
Deeper
Washington
Swamp
" Amherst is a liberal arts college, committed to providing students with a broad education. "
Joseph Stiglitz
Education
Arts
College
" 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
" 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
" Letting bygones be bygones is a basic principle in economics. "
Joseph Stiglitz
Principle
Letting
Economics
" The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy. "
Joseph Stiglitz
Public Policy
Policy
Activity
" Some people say we have this inequality because some people have been contributing much more to our society, and so it's fair that they get more. But then you look at the people who are at the top, and you realize they're not the people who have transformed our economy, our society. "
Joseph Stiglitz
People
Society
You