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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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Joseph Stiglitz
Age: 81
Born: 1943
Born: February 9
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Non-Fiction Writer
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Gary
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Joseph Eugene Stiglitz
Joseph Stiglitz
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More quotes by Joseph Stiglitz

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The issue is: $1 trillion or $2 trillion is a lot of money. If our objective is to have stability in the Middle East, secure oil, or extend democracy, you can do a lot of democracy buying for this sum. To put it in context: The whole world spends $50 billion a year on foreign aid.
Joseph Stiglitz
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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.
Joseph Stiglitz
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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.
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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Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Joseph Stiglitz
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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
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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
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It is unlikely that others would even demand their money back overnight, for doing so would lead to the value of the dollar plummeting what they would get back with be worth little. But what we are already seeing is an erosion of confidence of the dollar, which is seeing the dollar fall in value.
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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The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
Joseph Stiglitz
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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.
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 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.
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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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
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GDP tells you nothing about sustainability
Joseph Stiglitz
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I think that for the developing world there are many versions of capitalism, and countries have to choose one that's appropriate.
Joseph Stiglitz
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It is trust, more than money, that makes the world go round.
Joseph Stiglitz
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Amherst is a liberal arts college, committed to providing students with a broad education.
Joseph Stiglitz
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The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
Joseph Stiglitz