Joseph Stiglitz
Joseph Stiglitz
Joseph Eugene Stiglitz, ForMemRS, FBA, is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciencesand the John Bates Clark Medal. He is a former senior vice president and chief economist of the World Bank and is a former member and chairman of theCouncil of Economic Advisers. He is known for his critical view of the management of globalization, laissez-faire economists, and some international institutions like the International Monetary...
NationalityAmerican
ProfessionEconomist
Date of Birth9 February 1943
CountryUnited States of America
Joseph Stiglitz quotes about
Active learning is always involved with interaction between teachers and students and Socratic methods and that's gonna continue.
But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.
Trickle-down economics is a myth. Enriching corporations - as the TPP would - will not necessarily help those in the middle, let alone those at the bottom.
I understand why political leaders in the beginning want to be cheerleaders to generate optimism. But to admit that they didn't understand the depths of the problem afterwards, I found a little bit surprising.
What you measure affects what you do. If you don't measure the right thing, you don't do the right thing.
The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
Even if Bush could be forgiven for taking America, and much of the rest of the world, to war on false pretenses, and for misrepresenting the cost of the venture, there is no excuse for how he chose to finance it. His was the first war in history paid for entirely on credit. As America went into battle, with deficits already soaring from his 2001 tax cut, Bush decided to plunge ahead with yet another round of tax relief for the wealthy.
My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst.
Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.
Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.
The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
I've always been sceptical about the notion that the market is a person you can engage in an argument with, and that that person is an intelligent, rational, well-intentioned person: it is fantasy. We know that ... the market is subject to irrational optimism and pessimism, and is vindictive ... You're dealing with a crazy man ... Having got what he wants he will still kill you.
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.
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.