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American inequality didn't just happen. It was created.

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
American
Didn
Happens
Inequality
Created
Happen

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What you measure affects what you do. If you don't measure the right thing, you don't do the right thing.
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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.
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Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
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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.
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The life prospects of an American are more dependent on the income and education of his parents than in any of the other advanced industrial countries.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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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.
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The attempt to minimize cost and maximize profits often interfered with our true mission in Iraq. We should have been working to get jobs for Iraqis, but the contractors found it cheaper to import Nepalese and others. This increased resentment, contributed to unemployment, and to our losing the hearts and minds of the Iraqis.
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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.
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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.
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You can't overestimate what happens when you encourage regulators to believe that the goal of regulation is not to regulate.
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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.
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The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn. Too late.
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The Bush administration has been doing everything it can to hide the huge number of returning veterans who are severely wounded - 17,000 so far including roughly 20 percent with serious brain and head injuries. Even the estimate of $500 billion ignores the lifetime disability and healthcare costs that taxpayers will have to spend for years to come.
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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.
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If you're injured in an automobile accident, and you sue the driver, you get much more for your injury than if you're fighting for your country. There's a double standard here.
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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?
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When I said the pocket of the banks, it is not necessarily a mercenary relationship. It is a mindset.
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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.
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Most people think the Iraq war has increased the probability of an attack. However, it's difficult to put this aspect into financial terms.
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