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

Joseph Stiglitz

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

Joseph Stiglitz

" Behind Trump's promise to 'make America great again' lie many fallacies. The most important fallacy is that America's place in the world can be restored to the one it occupied after World War II, when Europe was still recovering from vast devastation and most developing countries were still European colonies. It can't be. "

Joseph Stiglitz

" The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation. "

Joseph Stiglitz

" 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

" 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

" America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow. "

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. "

Joseph Stiglitz

" I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights. "

Joseph Stiglitz

" Technology has been advancing so fast that the number of jobs globally in manufacturing is declining. There is no way that Trump can bring significant numbers of manufacturing jobs back to the U.S. "

Joseph Stiglitz

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

Joseph Stiglitz

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

Joseph Stiglitz

" Regulatory reform must move beyond limiting the damage that the financial sector can do and ensure that the sector genuinely serves society. "

Joseph Stiglitz

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

Joseph Stiglitz

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

Joseph Stiglitz

" 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. "

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

" 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. "

Joseph Stiglitz

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

Joseph Stiglitz

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

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

" 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. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

" For Obama, the Trans-Pacific Partnership agreement - unilaterally abrogated by Trump - was part of the 'pivot to Asia,' a re-assertion of the role of America in that part of the world. "

Joseph Stiglitz

" 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. "

Joseph Stiglitz

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

Joseph Stiglitz

" There is something about the mindset of a scientist that is different - an awareness of uncertainty, modeling, proof. "

Joseph Stiglitz

" Europe can't rely on a Trump-led U.S. for its defence. But, at the same time, it should recognise that the cold war is over - however unwilling to acknowledge it America's industrial-military complex may be. "

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

" The financial sector has so distorted salaries that physicists are getting drawn into the financial sector. All that has led to an undersupply of people committed to the public sector. "

Joseph Stiglitz