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" China, with its large emerging middle class, is among the big beneficiaries of globalization. "

Joseph Stiglitz

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" What's going to happen is that there will be a definite consensus that Europe is not working. The diagnosis will be to shed the currency and keep the rest, or that Europe is not working and a broader rejection - like in the U.K. "

Joseph Stiglitz

" Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor. "

Joseph Stiglitz

" Donald Trump's astonishing victory in the U.S. presidential election has made one thing abundantly clear: too many Americans - particularly white male Americans - feel left behind. "

Joseph Stiglitz

" 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

" America under Trump has gone from being a world leader to an object of derision. "

Joseph Stiglitz

" There is something about the mindset of a scientist that is different - an awareness of uncertainty, modeling, proof. "

Joseph Stiglitz

" 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

" 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

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

Joseph Stiglitz

" Having excessive power in the hands of one country meant the fate of the world was too dependent on what happened in that one country. "

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

" To someone like me, who has watched trade negotiations closely for more than a quarter-century, it is clear that U.S. trade negotiators got most of what they wanted. The problem was with what they wanted. Their agenda was set, behind closed doors, by corporations. "

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

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

Joseph Stiglitz

" In an economy, when the government spends more and invests in the economy, that money circulates, and recirculates again and again. So not only does it create jobs once: the investment creates jobs multiple times. "

Joseph Stiglitz

" The U.S. basically wrote the rules and created the institutions of globalisation. "

Joseph Stiglitz

" The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy. "

Joseph Stiglitz

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

Joseph Stiglitz

" While it was an experiment to bring them together, nothing has divided Europe as much as the euro. "

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

" Trump assumed office promising to 'drain the swamp' in Washington, D.C. Instead, the swamp has grown wider and deeper. "

Joseph Stiglitz

" Globally, manufacturing jobs are on the decline, simply because productivity growth has outpaced growth in demand. "

Joseph Stiglitz

" People at the top spend less money than those at the bottom, so when you have redistribution toward the top, aggregate demand goes down. Unless you intervene, you're going to have a weak economy unless something else happens. "

Joseph Stiglitz

" The Clinton years were not an economic Nirvana; as chairman of the president's Council of Economic Advisers during part of this time, I'm all too aware of mistakes and lost opportunities. "

Joseph Stiglitz

" 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

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

Joseph Stiglitz

" But while I loved all of these courses, there was an irresistible attraction of economics. "

Joseph Stiglitz

" One of the things that happens when you have austerity is that wages get lower, and some people think lower wages in the short run can increase corporate profits. "

Joseph Stiglitz

" 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

" I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are. "

Joseph Stiglitz