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

Joseph Stiglitz

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" 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. "

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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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" 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. "

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" 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. "

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" 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. "

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" 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. "

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" An economy in which most citizens are doing worse year after year - an economy like America's - is not likely to do well over the long haul. "

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

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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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" 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. "

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

Joseph Stiglitz

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

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" 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. "

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

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" I don't think we can have democracies that work where most of the people are not benefiting economically, where most of the people are worried about their job security. "

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

" 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. "

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" There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists. "

Joseph Stiglitz

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

Joseph Stiglitz

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

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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. "

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. "

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" The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits. "

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" Climate change poses an existential threat to the planet that is no less dire than that posed by North Korea's nuclear ambitions. "

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

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" 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. "

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" 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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" 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.' "

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

Joseph Stiglitz