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"As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns."
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"We try, when we wake, to lay the new day at God's feet; before we have finished shaving, it becomes our day and God's share in it is felt as a tribute which we must pay out of 'our own' pocket, a deduction from the time which ought, we feel, to be 'our own'. A man starts a new job with a sense of vocation and, perhaps, for the first week still keeps the discharge of the vocation as his end, taking the pleasures and pains from God's hand, as they came, as 'accidents'. But in the second week he is beginning to 'know the ropes': by the third, he has quarried out of the total job his own plan for himself within that job, and when he can pursue this he feels that he is getting no more than his rights, and when he cannot, that he is being interfered."
"The Lord had given them the day and the Lord had given them the strength. And the day and the strength had been dedicated to labor, and the labor was its reward. Who was the labor for? What would be its fruits? These were irrelevant and idle questions."
"If I went to work in a factory the first thing I'd do is join a union."
"Employment stereotypes you."
"The work I did in Vertigo meant nothing if no one cared about the movie. Luckily, Vertigo had a revival and people had begun to recognize there was something special and it gained in reputation. But it just as well could have ended up rotting in film cans somewhere."
Explore more quotes by Joseph E. Stiglitz
"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."
"Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist."
"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."
"But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs."
"The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy."
"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."
"I knew that discrimination existed, even though there were many individuals who were not prejudiced."
"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?"
"There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists."
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