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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.

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
People
Bills
Promise
Simply
Course
Money
Payments
Giving
Printing
Make
Inflation
Always
Dollar

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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.
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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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Amherst is a liberal arts college, committed to providing students with a broad education.
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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.
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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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It is trust, more than money, that makes the world go round.
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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.
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In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
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For that to happen, growth has to be very strong. To get back to normalcy, we will have to have extended growth of more than 3 percent. That's not in the cards.
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Amherst was pivotal in my broad intellectual development MIT in my development as a professional economist.
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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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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.
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The war in Iraq has been very, very expensive - partly because the Administration tried to keep the apparent costs down. But the benefits have been elusive at best - partly because the ostensible reasons for going war were unconnected with reality - no weapons of mass destruction, no connections with 9/11.
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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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Any society has to delegate the responsibility to maintain a certain kind of order. Enforcing regulations, making sure people stop at stoplights. We can’t function as a society without rules and regulations, and the enforcement mechanism of those rules and regulations.
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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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The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn. Too late.
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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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If you destroy a firm, you can't pull it out of bankruptcy overnight.
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