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" 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. "

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" 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

" High levels of economic inequality lead to imbalances in political power, as those at the top use their economic weight to shape our politics in ways that give them more economic power. "

" 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. "

" Under the rule of law, if the government wants to prevent firms from outsourcing and offshoring, it enacts legislation and adopts regulations to create the appropriate incentives and discourage undesirable behaviour. It does not bully or threaten particular firms or portray traumatised refugees as a security threat. "

" Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them. "

" 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. "

" 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. "

" Behind Trump's promise to 'make America great again' lie many fallacies. The most important fallacy is that America's place in the world can be restored to the one it occupied after World War II, when Europe was still recovering from vast devastation and most developing countries were still European colonies. It can't be. "

" 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. "

" Europe can't rely on a Trump-led U.S. for its defence. But, at the same time, it should recognise that the cold war is over - however unwilling to acknowledge it America's industrial-military complex may be. "

" We share a common planet, and the world has learned the hard way that we have to get along and work together. We have learned, too, that cooperation can benefit all. "

" I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous. "

" International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief. "

" Growth is not an objective in itself; we should be concerned with standards of living. "

" America and the world are paying a high price for devotion to the extreme anti-government ideology embraced by Donald Trump and his Republican party. "

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

" 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. "

" 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. "

" President Trump sees the world in transactional and zero-sum terms - if something is good for China, it must be bad for the U.S. By contrast, economists see the world in much more nuanced ways: if globalization is well-managed, it can be a positive-sum game, where both the U.S. and China gain; if it is badly managed, it can be negative-sum. "

" If Trump wants to withdraw the U.S. from the Paris climate agreement, the rest of the world should impose a carbon-adjustment tax on U.S. exports that do not comply with global standards. "

" 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? "

" 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. "

" It is always better to tax bad things than good things. "

" Tax policy should reflect a country's values and address its problems. "

" 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. "

" 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

" 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. "

" After the destruction of New Orleans by Hurricane Katrina in 2005, the shutdown of much of New York City by Sandy in 2012, and now the devastation wrought on Texas by Harvey, the U.S. can and should do better. "

" Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently. "

" My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth. "