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" The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy. "
Joseph Stiglitz
Public Policy
Policy
Activity
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" I don't think we can have democracies that work where most of the people are not benefiting economically, where most of the people are worried about their job security. "
Joseph Stiglitz
Security
Job
Most
" 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
" China, with its large emerging middle class, is among the big beneficiaries of globalization. "
Joseph Stiglitz
Big
China
Class
" 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. "
Joseph Stiglitz
City
Texas
New York
" A politically astute president who understood deeply the economics and politics of corporate tax reform could conceivably muscle Congress toward a reform package that made sense. Trump is not that leader. "
Joseph Stiglitz
Leader
Congress
Economics
" 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
Like
Control
More
" Hedge funds are not noted for their long-term thinking - for them, a quarter is an eternity. "
Joseph Stiglitz
Thinking
Eternity
Long-Term
" To maximise global social welfare, policymakers should strongly encourage the diffusion of knowledge from developed to developing countries. "
Joseph Stiglitz
Welfare
Encourage
Knowledge
" 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. "
Joseph Stiglitz
Security
Government
Create
" In addition to offering benefits to those who invest, carry out research, and create jobs, higher taxes on land and real-estate speculation would redirect capital toward productivity-enhancing spending - the key to long-term improvement in living standards. "
Joseph Stiglitz
Improvement
Create
Research
" 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
" But while I loved all of these courses, there was an irresistible attraction of economics. "
Joseph Stiglitz
Attraction
Loved
Courses
" Tax policy should reflect a country's values and address its problems. "
Joseph Stiglitz
Values
Tax
Reflect
" With my kids, I'm a little sappier than my father may have been. "
Joseph Stiglitz
Little
May
Than
" Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation. "
Joseph Stiglitz
Logic
Every Day
Exploring
" If Trump actually wants to help those who have been left behind, he must go beyond the ideological battles of the past. "
Joseph Stiglitz
Go
Past
Help
" Economists often like startling theorems, results which seem to run counter to conventional wisdom. "
Joseph Stiglitz
Like
Economists
Results
" 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. "
Joseph Stiglitz
Information
Good
Insight
" 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
Education
Cry
Research
" 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
Power
Politics
Political
" 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
Political
You
People
" The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits. "
Joseph Stiglitz
Normal
Economics
Lead
" 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
Disaster
Trade
Bank
" 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
" 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
" 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
" 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
" While it was an experiment to bring them together, nothing has divided Europe as much as the euro. "
Joseph Stiglitz
Nothing
Bring
Divided
" 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
Run
You
Think
" 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