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

Joseph Stiglitz

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

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

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

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

" 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

" 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

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

Joseph Stiglitz

" My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst. "

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

" In debate, one randomly was assigned to one side or the other. This had at least one virtue - it made one see that there was more than one side to these complex issues. "

Joseph Stiglitz

" America will suffer under Trump. "

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

" The euro zone was driven by the neoliberal view that markets are always efficient. That in itself is political. There was no pressing economic need that the euro was required to solve, but leaders believed that it would foster growth. "

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

" 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

" 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

" 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

" The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation. "

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

" 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

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

Joseph Stiglitz

" To maximise global social welfare, policymakers should strongly encourage the diffusion of knowledge from developed to developing countries. "

Joseph Stiglitz

" For the president of the United States, reputation does matter. The reputation of the United States does matter. We are dealing with countries all over the world. They want to know if your word is good. Trump's word is not good. "

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

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

Joseph Stiglitz

" 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

" 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

" 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

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

Joseph Stiglitz

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

Joseph Stiglitz