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" When markets fail, as they often do, collective action becomes imperative. "

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. "

Joseph Stiglitz

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

Joseph Stiglitz

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

Joseph Stiglitz

" 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. "

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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

" 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. "

Joseph Stiglitz

" Donald Trump's astonishing victory in the U.S. presidential election has made one thing abundantly clear: too many Americans - particularly white male Americans - feel left behind. "

Joseph Stiglitz

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

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" High levels of economic inequality lead to imbalances in political power, as those at the top use their economic weight to shape our politics in ways that give them more economic power. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

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

Joseph Stiglitz

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

Joseph Stiglitz

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

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" I went to public schools, and while Gary was, like most American cities, racially segregated, it was at least socially integrated - a cross section of children from families of all walks of life. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" Americans like to say we're fighting for democracy, and yet young Americans have come to the view that democracy doesn't deliver. "

Joseph Stiglitz

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

Joseph Stiglitz

" Having excessive power in the hands of one country meant the fate of the world was too dependent on what happened in that one country. "

Joseph Stiglitz

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

Joseph Stiglitz

" When you have a highly divided society, it's hard to come together to make investments in the common good. "

Joseph Stiglitz

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

Joseph Stiglitz

" 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. "

Joseph Stiglitz

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

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz