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" 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
Politics
Create
End
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" 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
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" 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
Taxes
Moving
Globalization
" There is something about the mindset of a scientist that is different - an awareness of uncertainty, modeling, proof. "
Joseph Stiglitz
Modeling
Mindset
Uncertainty
" 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
Government
Create
Money
" A single currency entails a fixed interest rate, which means countries can't manage their own currency to suit their own needs. You need a variety of institutions to help nations for which the policies aren't well suited. Europe introduced the euro without providing those structures. "
Joseph Stiglitz
Help
You
Single
" We have a locale-based education system; we have increasing economic segregation. We clearly need a larger federal program to try to help disadvantaged districts. "
Joseph Stiglitz
Help
Segregation
Need
" For Obama, the Trans-Pacific Partnership agreement - unilaterally abrogated by Trump - was part of the 'pivot to Asia,' a re-assertion of the role of America in that part of the world. "
Joseph Stiglitz
Partnership
America
Agreement
" 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
" 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
System
Efficiency
Future
" With my kids, I'm a little sappier than my father may have been. "
Joseph Stiglitz
Little
May
Than
" 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
Most
Economic
World
" 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
" Under Ronald Reagan in the United States and Margaret Thatcher in the U.K., there was a rewriting of the basic rules of capitalism. These two governments changed the rules governing labour bargaining, weakening trade unions, and they weakened anti-trust enforcement, allowing more monopolies to be created. "
Joseph Stiglitz
Two
Unions
Capitalism
" Economists often like startling theorems, results which seem to run counter to conventional wisdom. "
Joseph Stiglitz
Like
Economists
Results
" I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights. "
Joseph Stiglitz
Generation
Like
Rights
" 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
World
Country
Fate
" Society can't function without shared prosperity. "
Joseph Stiglitz
Prosperity
Function
Without
" We could have managed globalization in ways that ordinary citizens would have benefited rather than just the corporations. Trade is beneficial. There are gains to be had from taking advantage of comparative advantage and specialization. That's true, if you manage globalization right. "
Joseph Stiglitz
Right
Trade
You
" What separates developing countries from developed countries is as much a gap in knowledge as a gap in resources. "
Joseph Stiglitz
Much
Knowledge
Resources
" 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
Trade
Someone
Doors
" Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist. "
Joseph Stiglitz
Development
Intellectual
Professional
" 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. "
Joseph Stiglitz
Good
World
Bad
" 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
" 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
Country
Education
Generation
" I knew that discrimination existed, even though there were many individuals who were not prejudiced. "
Joseph Stiglitz
Who
Discrimination
Even
" 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
" 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
World
Reputation
Know
" What I argued in 'The Great Divide' is that societies can't function without trust, both politically and economically. "
Joseph Stiglitz
Trust
Divide
Function
" 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
People
Winning
Technology