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"I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are."
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"CAPITALISM: If everything worked without need of repair, upgrade or replacement, then peaceful minds and prosperity would prevail among the masses rather than just the few who control markets."
"Bling" is not an indication of riches. It is a product of value-based spending, to enrich the pockets of those outside of ones sphere of influence...the haves' bleeding the have-nots'."
"So far, therefore, as the science of exchange relates to the advantage of one of the exchanging persons only, it is founded on the ignorance or incapacity of the opposite person. . . . It is therefore a science founded on nescience. . . . This science, alone of sciences, must, by all available means, promulgate and prolong its opposite nescience. . . . It is therefore peculiarly and alone science of darkness."
"We aren't leveraging this great economic engine, the strongest economy in the world. And yet we have this totally weak response. We import $500 billion a year more in products than we export."
"An economy growing at 7 percent per year, can and must find the resources to improve the lives of its millions of poor."
"You can't tax business. Business doesn't pay taxes. It collects taxes."
Explore more quotes by Joseph E. Stiglitz
"I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous."
"Amherst is a liberal arts college, committed to providing students with a broad education."
"I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights."
"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."
"Economists often like startling theorems, results which seem to run counter to conventional wisdom."
"Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist."
"Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation."
"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."
"The notion that every well educated person would have a mastery of at least the basic elements of the humanities, sciences, and social sciences is a far cry from the specialized education that most students today receive, particularly in the research universities."
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