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" Trump will fail even in his proclaimed goal of reducing the trade deficit, which is determined by the disparity between domestic savings and investment. "

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. "

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" Economists often like startling theorems, results which seem to run counter to conventional wisdom. "

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" 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. "

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" Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them. "

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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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" America under Trump has gone from being a world leader to an object of derision. "

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" A lot of my book, 'The Price of Inequality,' is about why there has been an increase in rent-seeking. "

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" 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. "

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" While it was an experiment to bring them together, nothing has divided Europe as much as the euro. "

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

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" 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. "

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" When you're in government, you have a big impact in Washington, but Washington may not be doing very much. "

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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. "

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" With the election of Trump, America's soft power has taken a big hit. The United States has moved from a position of leadership in the creation of a rules-based international system to a position of leadership in its destruction and the creation of a regime of global protectionism. The damage will be long-lasting. "

Joseph Stiglitz

" It's very hard to persuade a young person who has seen the Great Recession, who has seen all the problems with inequality, to tell them inequality is not important and that markets are always efficient. They'd think you're crazy. "

Joseph Stiglitz

" 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. "

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" 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

" 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. "

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

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" I knew that discrimination existed, even though there were many individuals who were not prejudiced. "

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

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" 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. "

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" Globally, manufacturing jobs are on the decline, simply because productivity growth has outpaced growth in demand. "

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" 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. "

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" 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. "

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