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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
Needed
Stimulate
Less
Moreover
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Borrowing
Money
Chose
Mean
Finance
Debt
Soared
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Maneuver
Room
Deficits
More quotes by Joseph Stiglitz
GDP tells you nothing about sustainability
Joseph Stiglitz
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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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.
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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 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
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
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Joseph Stiglitz
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.
Joseph Stiglitz
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.
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Anybody who knows about capitalism knows that bankruptcy is an essential part of capitalism.
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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.
Joseph Stiglitz
Amherst is a liberal arts college, committed to providing students with a broad education.
Joseph Stiglitz
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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In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
Joseph Stiglitz
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
I think that for the developing world there are many versions of capitalism, and countries have to choose one that's appropriate.
Joseph Stiglitz
You saw on your TV what happened in New Orleans after Hurricane Katrina. The Reserves or National Guard are usually the people we use for those national emergencies. They weren't here, they were over in Iraq, and so we were less protected.
Joseph Stiglitz
Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
Joseph Stiglitz
The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
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The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
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