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" 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. "

Joseph Stiglitz

Getting

Led

People

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" Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist. "

" If I came home with a grade of A, my father would say, 'There must have been a lot of dummies in that class.' "

" 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. "

" 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 have a locale-based education system; we have increasing economic segregation. We clearly need a larger federal program to try to help disadvantaged districts. "

" The U.S. basically wrote the rules and created the institutions of globalisation. "

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

" 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. "

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

" China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway. "

" The IP standards advanced countries favour typically are designed not to maximise innovation and scientific progress, but to maximise the profits of big pharmaceutical companies and others able to sway trade negotiations. "

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

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

" 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. "

" I grew up in a family in which political issues were often discussed, and debated intensely. "

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

" Obama had to save the banks, sure, but he didn't have to save the bankers and the shareholders and the bondholders. We broke the rules of capitalism in order to save those at the top - as we always do. "

Joseph Stiglitz

Always

Capitalism

" 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. "

" 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. "

" 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. "

" 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. "

" Society can't function without shared prosperity. "

" One of the arguments I make for the failure of the euro is that, at the time it was being constructed, there was a 'neo-liberal' ideology which said that all we need to do to make this thing work is to get deficits low, keep inflation low, and take down barriers, and then everything would be fine. "

" 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? "

" China-led globalization in some ways worries me because they are not concerned about human rights, labor rights. They probably aren't even really concerned about competitive marketplaces. So in some ways, they're like Mr. Trump. "

Joseph Stiglitz

Human Rights

Globalization

" Trump assumed office promising to 'drain the swamp' in Washington, D.C. Instead, the swamp has grown wider and deeper. "

" 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. "

" Trump can bring jobs back, but they will be minimal-wage jobs, not the high-paying jobs of the 1950s. "

" America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow. "

" 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. "