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" 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. "

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

Joseph Stiglitz

Deeper

Washington

Swamp

" 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 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. "

" 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. "

" The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy. "

" 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. "

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

" 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

Help

" 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. "

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

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

" 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. "

" Trump sees the world in terms of a zero-sum game. In reality, globalisation, if well managed, is a positive-sum force: America gains if its friends and allies - whether Australia, the E.U., or Mexico - are stronger. But Trump's approach threatens to turn it into a negative-sum game: America will lose, too. "

" 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. "

" 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. "

" I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard. "

Joseph Stiglitz

University

Brother

" A less healthy America is not going to be as productive. "

" Globalization and trade liberalization were supposed to make us all better off through the mechanism of trickle-down economics. What we seemed to be seeing instead was trickle-up economics, accompanied by a destruction of democratic politics, as we moved ever closer to a system of 'one dollar, one vote' as opposed to 'one person, one vote.' "

" 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. "

" 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. "

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

Joseph Stiglitz

Economists

Results

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

" Society can't function without shared prosperity. "

" 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. "

" 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. "

" Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor. "

" 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? "

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

" My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst. "

Joseph Stiglitz

Responsibility

Teachers

" 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. "