Joseph Stiglitz Quotes

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Joseph Stiglitz

Profession : Economist

Birth : February 9, 1943

If Trump wants to withdraw the U.S. from the Paris climate agreement, the rest of the world should impose a carbon-adjustment tax on U.S. exports that do not comply with global standards.

Joseph Stiglitz

Trump sees the world in terms of a zero-sum game. In reality, globalisation, if well managed, is a positive-sum force: America gains if its friends and allies - whether Australia, the E.U., or Mexico - are stronger. But Trump's approach threatens to turn it into a negative-sum game: America will lose, too.

Joseph Stiglitz

If there is a silver lining in the Trump cloud, it is a new sense of solidarity over core values such as tolerance and equality, sustained by awareness of the bigotry and misogyny, whether hidden or open, that Trump and his team embody.

Joseph Stiglitz

Under the rule of law, if the government wants to prevent firms from outsourcing and offshoring, it enacts legislation and adopts regulations to create the appropriate incentives and discourage undesirable behaviour. It does not bully or threaten particular firms or portray traumatised refugees as a security threat.

Joseph Stiglitz

The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation.

Joseph Stiglitz

A lot of my book, 'The Price of Inequality,' is about why there has been an increase in rent-seeking.

Joseph Stiglitz

Having excessive power in the hands of one country meant the fate of the world was too dependent on what happened in that one country.

Joseph Stiglitz

The diminishing economic role of the United States in the global economy means that global political power will also become more dispersed. The world will become multipolar. By clumsily re-asserting a wish for U.S. dominance, Donald Trump is accelerating the opposite.

Joseph Stiglitz

With the election of Trump, America's soft power has taken a big hit. The United States has moved from a position of leadership in the creation of a rules-based international system to a position of leadership in its destruction and the creation of a regime of global protectionism. The damage will be long-lasting.

Joseph Stiglitz

For Obama, the Trans-Pacific Partnership agreement - unilaterally abrogated by Trump - was part of the 'pivot to Asia,' a re-assertion of the role of America in that part of the world.

Joseph Stiglitz

The Clinton years were not an economic Nirvana; as chairman of the president's Council of Economic Advisers during part of this time, I'm all too aware of mistakes and lost opportunities.

Joseph Stiglitz

President Trump sees the world in transactional and zero-sum terms - if something is good for China, it must be bad for the U.S. By contrast, economists see the world in much more nuanced ways: if globalization is well-managed, it can be a positive-sum game, where both the U.S. and China gain; if it is badly managed, it can be negative-sum.

Joseph Stiglitz

Behind Trump's promise to 'make America great again' lie many fallacies. The most important fallacy is that America's place in the world can be restored to the one it occupied after World War II, when Europe was still recovering from vast devastation and most developing countries were still European colonies. It can't be.

Joseph Stiglitz

China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway.

Joseph Stiglitz

China, with its large emerging middle class, is among the big beneficiaries of globalization.

Joseph Stiglitz

Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis.

Joseph Stiglitz

Trump has been criticized by mainstream Republicans for not really being one of them. But he is definitely one of them when it comes to the central palliative for any ill befalling the country: a tax cut for the rich.

Joseph Stiglitz

The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.

Joseph Stiglitz

Hedge funds are not noted for their long-term thinking - for them, a quarter is an eternity.

Joseph Stiglitz

Obama had to save the banks, sure, but he didn't have to save the bankers and the shareholders and the bondholders. We broke the rules of capitalism in order to save those at the top - as we always do.

Joseph Stiglitz