Quote

GDP tells you nothing about sustainability

Joseph Stiglitz

Change background

T
T
T

Change font

TAGS & TOPICS

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
Sustainability
Tells
Nothing

More quotes by Joseph Stiglitz

Image
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.
Joseph Stiglitz
Image
The country has large unfunded liabilities - social security, health care, and there will have to be some adjustments to these problems. What is scary though is how much worse things have gotten in the last eight years, and the Iraq war is one of the main factors.
Joseph Stiglitz
Image
The striking thing about America is - it's historically, extraordinary unusual, I don't of any other instance - is that productivity of workers and wages have not moved in tandem.
Joseph Stiglitz
Image
Unfettered market American-style capitalism doesn't work. Developing countries can't afford that kind of luxury. They just can't afford it. Period. If there's a mistake, they can't afford to put out $2 trillion.
Joseph Stiglitz
Image
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
Image
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
Image
America has had to turn to foreigners to finance its debt - not surprising since household saving in the last years has plummeted to zero. China is one of the largest holders of American debt.
Joseph Stiglitz
Image
What you measure affects what you do. If you don't measure the right thing, you don't do the right thing.
Joseph Stiglitz
Image
Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
Joseph Stiglitz
Image
They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems.
Joseph Stiglitz
Image
I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard.
Joseph Stiglitz
Image
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
Image
Amherst was pivotal in my broad intellectual development MIT in my development as a professional economist.
Joseph Stiglitz
Image
The budgetary cost to the UK of the wars in Iraq and Afghanistan through 2010 will total more than £18 billion. If we include the social costs the total impact will exceed £20 billion.
Joseph Stiglitz
Image
The problem is a lot of what is called economics is not economics. It is more ideology or religion.
Joseph Stiglitz
Image
Trump is particularly unfit to serve because he approaches these without any view of what the truth is, and he approaches these with an enormous amount of prejudice. You cannot begin saying we want to solve the problem when you have a mindset that is against the Mexicans, against Islamists.
Joseph Stiglitz
Image
The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
Joseph Stiglitz
Image
I don't think anybody really thinks that one should get rid of the World Bank. Reform is one thing, but getting rid of it I think would be wrong.
Joseph Stiglitz
Image
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
Image
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