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Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Joseph Stiglitz
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Joseph Stiglitz
Age: 81
Born: 1943
Born: February 9
Critic
Economist
Non-Fiction Writer
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University Teacher
Writer
Gary
Indiana
Joseph Eugene Stiglitz
Joseph Stiglitz
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More quotes by Joseph Stiglitz
Amherst was pivotal in my broad intellectual development MIT in my development as a professional economist.
Joseph Stiglitz
The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
Joseph Stiglitz
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?
Joseph Stiglitz
Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
Joseph Stiglitz
Amherst is a liberal arts college, committed to providing students with a broad education.
Joseph Stiglitz
The national debt will have increased by approximately 50% in just eight years! We will have created a new unfunded entitlement - disability and health care benefits for the huge number of disabled veterans returning from the Iraq war.
Joseph Stiglitz
One has to always ask the question: Where can one be most effective in helping shape policies? It is always difficult when you're inside because you're very constrained.
Joseph Stiglitz
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
Joseph Stiglitz
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.
Joseph Stiglitz
Not everybody is qualified to go to Stanford, but everybody should have access to the best qualify for which they are eligible.
Joseph Stiglitz
Drug companies spend more on advertising and marketing than on research, more on research on lifestyle drugs than on life saving drugs, and almost nothing on diseases that affect developing countries only. This is not surprising. Poor people cannot afford drugs, and drug companies make investments that yield the highest returns.
Joseph Stiglitz
For that to happen, growth has to be very strong. To get back to normalcy, we will have to have extended growth of more than 3 percent. That's not in the cards.
Joseph Stiglitz
The momentum today behind the idea of a new global reserve currency reflects, in effect, the rise of the rest in world politics and economics, led by China.
Joseph Stiglitz
Similarly, payments for a dead soldier amount to only $500,000, which is far less than standard estimates of the lifetime economic cost of a death. This statistical value of a life in the US amounts to circa $6.5 million.
Joseph Stiglitz
The only people benefiting in Iraq war are George Bush's Jr. friends in the oil industry. He has done the American economy and the global economy an enormous disfavor, but his Texan friends couldn't be happier.
Joseph Stiglitz
In the early 1990s, there was a debate among economists over shock therapy versus a gradualism strategy for Russia. The people in Russia who believed in shock therapy were Bolsheviks a few people at the top that rammed it down everybody's throat. They viewed the democratic process as a real impediment to reform.
Joseph Stiglitz
The problem is a lot of what is called economics is not economics. It is more ideology or religion.
Joseph Stiglitz
The military is focusing only on the short run costs. If they don't provide appropriate body armor, they save some money today, but the healthcare cost is going to be the future for some other president down the line. I view that as both fiscally and morally irresponsible.
Joseph Stiglitz
You can't overestimate what happens when you encourage regulators to believe that the goal of regulation is not to regulate.
Joseph Stiglitz
In fact, for just about 1/6 of the cost of an Iraq War, we could have put the social security system on sound financial footings for the next 50 to 75 years. The problems can be managed - but not if we continue to fight this war for another 80 years.
Joseph Stiglitz