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" Under Ronald Reagan in the United States and Margaret Thatcher in the U.K., there was a rewriting of the basic rules of capitalism. These two governments changed the rules governing labour bargaining, weakening trade unions, and they weakened anti-trust enforcement, allowing more monopolies to be created. "

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" If there is a silver lining in the Trump cloud, it is a new sense of solidarity over core values such as tolerance and equality, sustained by awareness of the bigotry and misogyny, whether hidden or open, that Trump and his team embody. "

Joseph Stiglitz

Cloud

Team

Equality

" We could have managed globalization in ways that ordinary citizens would have benefited rather than just the corporations. Trade is beneficial. There are gains to be had from taking advantage of comparative advantage and specialization. That's true, if you manage globalization right. "

" 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 euro zone was driven by the neoliberal view that markets are always efficient. That in itself is political. There was no pressing economic need that the euro was required to solve, but leaders believed that it would foster growth. "

" My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth. "

" 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. "

" 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. "

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

" 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. "

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

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

" 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. "

" 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. "

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

" 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. "

" 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. "

" 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. "

" If Trump actually wants to help those who have been left behind, he must go beyond the ideological battles of the past. "

Joseph Stiglitz

Past

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" The Clinton years were not an economic Nirvana; as chairman of the president's Council of Economic Advisers during part of this time, I'm all too aware of mistakes and lost opportunities. "

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

" 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. "

" China, with its large emerging middle class, is among the big beneficiaries of globalization. "

" 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. "

" Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis. "

" 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. "

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

" 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. "

" 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. "

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

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