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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. "

Joseph Stiglitz

Currency

Will

Working

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

" 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. "

" 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. "

" Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently. "

" A single currency entails a fixed interest rate, which means countries can't manage their own currency to suit their own needs. You need a variety of institutions to help nations for which the policies aren't well suited. Europe introduced the euro without providing those structures. "

" 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. "

" 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

" 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. "

" 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. "

" By taxing CO2, firms and households would have an incentive to retrofit for the world of the future. The tax would also provide firms with incentives to innovate in ways that reduce energy usage and emissions - giving them a dynamic competitive advantage. "

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

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

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

" 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. "

" Trump has been criticized by mainstream Republicans for not really being one of them. But he is definitely one of them when it comes to the central palliative for any ill befalling the country: a tax cut for the rich. "

" 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. "

" European officials thought that austerity was part of what they called their 'convergence policies,' of trying to bring countries together. Instead, it actually made things worse. There's more inequality within countries and more disparity across countries. "

" 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. "

" It isn't inevitable that we have a globalization which is used by the corporations not to pay taxes. It is not inevitable that we have a form of globalization in which corporations use the threat of moving jobs abroad to lower wages. None of this is inevitable. "

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

Joseph Stiglitz

Economists

Results

" With neoliberalism discredited and austerity failed, we need to rewrite the rules of the economy once again. But this time in the right way. We need rules that focus on long-term economic growth, and the only kind of sustainable prosperity is shared prosperity. "

" Bitcoin is successful only because of its potential for circumvention, lack of oversight. "

" 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. "

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

" 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. "

" I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are. "

" 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. "

" One can only hope that America, and other countries, will not need more natural persuasion before taking to heart the lessons of Hurricane Harvey. "

" 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. "

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