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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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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
Debt
Soared
Available
Maneuver
Room
Deficits
Needed
Stimulate
Less
Moreover
Means
Borrowing
Money
Chose
Mean
Finance
More quotes by Joseph Stiglitz
I went to public schools, and while Gary was, like most American cities, racially segregated, it was at least socially integrated - a cross section of children from families of all walks of life.
Joseph Stiglitz
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 problem is a lot of what is called economics is not economics. It is more ideology or religion.
Joseph Stiglitz
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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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
Joseph Stiglitz
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
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.
Joseph Stiglitz
Anybody who has watched government from the inside recognizes that governments need institutions, need ways to respond to crises.
Joseph Stiglitz
In a globally integrated economy, the biggest challenge is to make sure there is adequate global aggregate demand, achieved through spending, when countries like China feel they must save high levels of dollar reserves to protect against international currency volatility.
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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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The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
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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.
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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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No one would look just at a firm's revenues to assess how well it was doing. Far more relevant is the balance sheet, which shows assets and liability. That is also true for a country.
Joseph Stiglitz
Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
Joseph Stiglitz
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
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Joseph Stiglitz
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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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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