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"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?"
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"Our "Make in India" initiative is not intended for only manufacturing for the domestic market or import substitution. It is as much about making world-class products and services for the whole globe."
"Capitalism without Bankruptcy is like Catholicism without Hell."
"Employment is the biggest form of slavery."
"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
"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."
"The ways by which you may get your money almost without exception lead downward. To have done anything by which you earn money 'merely' is to be truly idle or worse. If the labourer gets no more than the wages which his employer pays him, he is cheated, he cheats himself.. If I should sell both my forenoons and afternoons to society, as most appear to do, I am sure that for me there would be nothing left worth living for.. You must get your living by loving."
"Money is representative, and follows the nature and fortunes of the owner...The farmer is covetous of his dollar, and with reason. It is no waif to him. He knows how many strokes of labor it represents. His bones ache with the days' work that earned it. He knows how much land it represents - how much rain, frost and sunshine. He knows that, in the dollar, he gives you so much discretion and patience, so much hoeing and threshing. Try to lift his dollar; you must lift all that weight. In the city, where money follows the skit of a pen or a lucky rise in exchange, it comes to be looked on as light."
Explore more quotes by Joseph E. Stiglitz
"I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights."
"In debate, one randomly was assigned to one side or the other. This had at least one virtue - it made one see that there was more than one side to these complex issues."
"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."
"I knew that discrimination existed, even though there were many individuals who were not prejudiced."
"My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth."
"The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy."
"But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs."
"My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst."
"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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