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
An example might be, when the owner of the firm knows more than the shareholders.
Elderly people remember when they could go to the movie for a nickel or a quarter,
Greenspan's irresponsible support of that tax cut was critical to its passage.
China has been selling a lot of goods to the West, particularly to the US, but at the same time it has been providing the money to provide the goods.
I told the commission that offering the two versions of Windows without a price difference was not a level playing field.
Asia has become the source of finance, the source of savings. It now has the human capital to manage that well. Why doesn't it take the advantage of that opportunity to try and create financial markets that work better for the people of Asia.
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.
International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.
American inequality didn't just happen. It was created.
The problem is a lot of what is called economics is not economics. It is more ideology or religion.
It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much that seems so counter to what the world is like. Many of the things that I'm going to describe make so much more common sense than these notions that seem counter to what ones eyes see every day.
Any society has to delegate the responsibility to maintain a certain kind of order. Enforcing regulations, making sure people stop at stoplights. We can't function as a society without rules and regulations, and the enforcement mechanism of those rules and regulations.
The protesters have called into question whether there is a real democracy. Real democracy is more than the right to vote once every two or four years. The choices have to be meaningful. But increasingly, and especially in the US, it seems that the political system is more akin to "one dollar one vote" than to "one person one vote". Rather than correcting the market failures, the political system was reinforcing them.
They [free market policies] were never based on solid empirical and theoretical foundations, and even as many of these policies were being pushed, academic economists were explaining the limitations of markets for instance, whenever information is imperfect, which is to say always.