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" 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. "

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

Joseph Stiglitz

Normal

Economics

Lead

" China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway. "

" 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. "

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

" 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. "

" 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. "

" In the end, the politics of the euro zone weren't strong enough to create a fully integrated fiscal union with a common banking system, etc. "

" To someone like me, who has watched trade negotiations closely for more than a quarter-century, it is clear that U.S. trade negotiators got most of what they wanted. The problem was with what they wanted. Their agenda was set, behind closed doors, by corporations. "

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

" Negative interest rates hurt banks' balance sheets, with the 'wealth effect' on banks overwhelming the small increase in incentives to lend. "

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

" International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief. "

" 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

" 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. "

" I began my career as a physicist. And in the White House, my buddies were the people from the White House office of science and technology policy. But a lot of the people were lawyers. They like winning an argument, but science-based, evidence-based reasoning was just sort of not in their framework. "

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

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

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

" 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? "

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

" 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. "

" President Trump sees the world in transactional and zero-sum terms - if something is good for China, it must be bad for the U.S. By contrast, economists see the world in much more nuanced ways: if globalization is well-managed, it can be a positive-sum game, where both the U.S. and China gain; if it is badly managed, it can be negative-sum. "

" Amherst is a liberal arts college, committed to providing students with a broad education. "

" 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. "

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

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

Joseph Stiglitz

Generation

Rights

" The diversity of Europe is its strength. But for a single currency to work, over a region with enormous economic and political diversity, is not easy. "

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

" We have a locale-based education system; we have increasing economic segregation. We clearly need a larger federal program to try to help disadvantaged districts. "

" What separates developing countries from developed countries is as much a gap in knowledge as a gap in resources. "