Quote

As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.

Joseph Stiglitz

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Joseph Stiglitz
Age: 81
Born: 1943
Born: February 9
Critic
Economist
Non-Fiction Writer
Professor
Science Writer
University Teacher
Writer
Gary
Indiana
Joseph Eugene Stiglitz
Joseph Stiglitz
Problem
Economics
Work
Difficulty
Early
Noted
Concerned
Lecture
Pay
Lectures
Return
Nobel
Information
Returns
Getting
Insight

More quotes by Joseph Stiglitz

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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
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I think what they've been doing is largely almost in firefighting mode without a good conceptual framework - either at the micro or the macro level. Micro, you would ask: What kind of financial or banking system do we want? Macro, you would say: What are the underlying problems in the structure of our economy?
Joseph Stiglitz
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Most poor people earn more than minimum wage when they are working their problem is not low wages. The problem comes when they are not working.
Joseph Stiglitz
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Anybody who has watched government from the inside recognizes that governments need institutions, need ways to respond to crises.
Joseph Stiglitz
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The problem with NAFTA was with what we wanted. And there, the agenda had been set by our corporations. So what is true is that workers in the United States and workers in the developing countries were often disadvantaged. They were worse off. The big winners were our corporations.
Joseph Stiglitz
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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.
Joseph Stiglitz
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There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.
Joseph Stiglitz
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Not everybody is qualified to go to Stanford, but everybody should have access to the best qualify for which they are eligible.
Joseph Stiglitz
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Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
Joseph Stiglitz
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In a globally integrated economy, the biggest challenge is to make sure there is adequate global aggregate demand, achieved through spending, when countries like China feel they must save high levels of dollar reserves to protect against international currency volatility.
Joseph Stiglitz
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The important lesson of the deficit is - and the national debt - is we have to be careful about how we're spending money.
Joseph Stiglitz
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If you destroy a firm, you can't pull it out of bankruptcy overnight.
Joseph Stiglitz
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The war in Iraq has been very, very expensive - partly because the Administration tried to keep the apparent costs down. But the benefits have been elusive at best - partly because the ostensible reasons for going war were unconnected with reality - no weapons of mass destruction, no connections with 9/11.
Joseph Stiglitz
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In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
Joseph Stiglitz
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The problem is a lot of what is called economics is not economics. It is more ideology or religion.
Joseph Stiglitz
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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
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Negative effects on the economy were covered up with a flood of liquidity from the Fed. That,plus lax regulation, led to a housing bubble, a consumption boom - but we were living on borrowed money. It was inevitable that there would be a day of reckoning, and it has now come. We will be paying the costs with interest.
Joseph Stiglitz
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It is trust, more than money, that makes the world go round.
Joseph Stiglitz
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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
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Poverty is what we call the extremes at the bottom.
Joseph Stiglitz