Quote

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

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
Thinking
Thinks
World
Anybody
Getting
Wrong
Thing
Really
Would
Bank
Think
Reform

More quotes by Joseph Stiglitz

Image
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
Image
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.
Joseph Stiglitz
Image
Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
Joseph Stiglitz
Image
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
Image
Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
Joseph Stiglitz
Image
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.
Joseph Stiglitz
Image
American inequality didn't just happen. It was created.
Joseph Stiglitz
Image
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
Image
These debt obligations will simply erode America's standard of living in the future. Money spent to service the debt is money that we don't have to spend on consumption's goods, or on investment in our future.
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
Climate change is a reality.
Joseph Stiglitz
Image
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
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 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.
Joseph Stiglitz
Image
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
Image
Most people think the Iraq war has increased the probability of an attack. However, it's difficult to put this aspect into financial terms.
Joseph Stiglitz
Image
If you destroy a firm, you can't pull it out of bankruptcy overnight.
Joseph Stiglitz
Image
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
Image
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
Image
Moreover, because we chose to finance the way by borrowing, our deficits and debt has soared, and this means we have less room for maneuver, less money available to stimulate the eocnomy in the way needed.
Joseph Stiglitz