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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
Political
Strength
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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
Currency
Will
Working
" With neoliberalism discredited and austerity failed, we need to rewrite the rules of the economy once again. But this time in the right way. We need rules that focus on long-term economic growth, and the only kind of sustainable prosperity is shared prosperity. "
Joseph Stiglitz
Focus
Time
Need
" The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation. "
Joseph Stiglitz
May
Spirit
Paris
" 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
Threat
Planet
Change
" Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis. "
Joseph Stiglitz
Crisis
Office
Good
" 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
See
Side
Virtue
" Society can't function without shared prosperity. "
Joseph Stiglitz
Prosperity
Function
Without
" There's a long list of investments that governments could and should be making. There is strengthening infrastructure, such as transport and communications; there is investment in education; there is investment in families, particularly putting measures in place that free women from having to make the choice between raising a family and work. "
Joseph Stiglitz
Women
Free
Education
" America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow. "
Joseph Stiglitz
America
India
Grow
" 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
" 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
Over
America
Cold War
" Amherst is a liberal arts college, committed to providing students with a broad education. "
Joseph Stiglitz
Education
Arts
College
" 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. "
Joseph Stiglitz
Work
World
Together
" I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights. "
Joseph Stiglitz
Generation
Like
Rights
" There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists. "
Joseph Stiglitz
Been
Winner
First
" 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
" 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
" What I argued in 'The Great Divide' is that societies can't function without trust, both politically and economically. "
Joseph Stiglitz
Trust
Divide
Function
" 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
Numbers
Fast
Manufacturing
" But while I loved all of these courses, there was an irresistible attraction of economics. "
Joseph Stiglitz
Attraction
Loved
Courses
" 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
" A lot of my book, 'The Price of Inequality,' is about why there has been an increase in rent-seeking. "
Joseph Stiglitz
Why
Price
Lot
" 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. "
Joseph Stiglitz
America
World
Republican
" America under Trump has gone from being a world leader to an object of derision. "
Joseph Stiglitz
Object
Leader
Gone
" 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
" Americans like to say we're fighting for democracy, and yet young Americans have come to the view that democracy doesn't deliver. "
Joseph Stiglitz
Fighting
Young
View
" A less healthy America is not going to be as productive. "
Joseph Stiglitz
Healthy
Productive
America
" 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
" There is something about the mindset of a scientist that is different - an awareness of uncertainty, modeling, proof. "
Joseph Stiglitz
Modeling
Mindset
Uncertainty
" If manufacturing jobs do come back to the U.S., they will be done by robots in hi-tech parts of the country rather than the Rust Belt states. "
Joseph Stiglitz
Robots
Done
Country