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

Joseph Stiglitz

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" 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

" 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. "

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

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" What I argued in 'The Great Divide' is that societies can't function without trust, both politically and economically. "

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" Amherst is a liberal arts college, committed to providing students with a broad education. "

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" The reality is that what we did in 2010 with the Dodd-Frank wasn't enough. "

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" 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. "

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

Joseph Stiglitz

" 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

" With my kids, I'm a little sappier than my father may have been. "

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

" 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. "

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

" I'm enough of a political junkie to know if you have large numbers of people much worse off, you're going to have consequences. "

Joseph Stiglitz

" 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

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

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" The notion that every well educated person would have a mastery of at least the basic elements of the humanities, sciences, and social sciences is a far cry from the specialized education that most students today receive, particularly in the research universities. "

Joseph Stiglitz

" 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

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

Joseph Stiglitz

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

Joseph Stiglitz

" 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. "

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

" As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns. "

Joseph Stiglitz

" When markets fail, as they often do, collective action becomes imperative. "

Joseph Stiglitz

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

Joseph Stiglitz

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

Joseph Stiglitz

" But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs. "

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

" By taxing CO2, firms and households would have an incentive to retrofit for the world of the future. The tax would also provide firms with incentives to innovate in ways that reduce energy usage and emissions - giving them a dynamic competitive advantage. "

Joseph Stiglitz