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Health care is very different from other sectors of the economy in several respects, one of which is the fact that the risk can be very high beyond people's ability. That leads to insurance.
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
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Care
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Health
People
Risk
Economy
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Insurance
More quotes by Joseph Stiglitz
It is trust, more than money, that makes the world go round.
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American inequality didn't just happen. It was created.
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The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
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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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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.
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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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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.
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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.
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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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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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The problem is a lot of what is called economics is not economics. It is more ideology or religion.
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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.
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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.
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I knew that discrimination existed, even though there were many individuals who were not prejudiced.
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We could, of course, always make the payments, simply by printing more money - we simply promise to pay people by giving them dollar bills - but that could set off inflation.
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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.
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The proposal for a new global reserve currency - or Special Drawing Rights - is a good idea for many reasons. Yes, for the Chinese it would cushion any fall in the value of the dollar per se because it would only be part of a basket of other currencies, including the yen and the euro.
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The grand larceny that occurred in Russia, the corruption that resulted in nine or ten people getting enormous wealth through loans-for-shares, was condoned because it allowed the reelection of Boris Yeltsin.
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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.
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Amherst was pivotal in my broad intellectual development MIT in my development as a professional economist.
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