Joseph Stiglitz Quotes About Country

Quotes about: Country

When Donald Trump campaigned for president, he told the American people that he would be a different type of Republican, that he would take on the political and economic establishment, that he would stand up for working people, that he understood the pain that families all across this country were experiencing. Well, sadly, it was just cheap and dishonest campaign rhetoric that was meant to get votes, nothing more than that.

Joseph Stiglitz

Country, Pain, People

Source: www.truth-out.org
Governments can enhance growth by increasing inclusiveness. A country's most valuable resource is its people. So it is essential to ensure that everyone can live up to their potential, which requires educational opportunities for all.

Joseph Stiglitz

Country, Educational, Opportunity

"The Great Divide: Unequal Societies and What We Can Do about Them". Book by Joseph Stiglitz, 2015.
Drug companies spend more on advertising and marketing than on research, more on research on lifestyle drugs than on life saving drugs, and almost nothing on diseases that affect developing countries only. This is not surprising. Poor people cannot afford drugs, and drug companies make investments that yield the highest returns.

Joseph Stiglitz

Country, Yield, People
Finance ministers and central bank governors have the seats at the table, not labor unions or labor ministers. Finance ministers and central bank governors are linked to financial communities in their countries, so they push policies that reflect the viewpoints and interests of the financial community and barely hear the voices of those who are the first victims of dictated policies.

Joseph Stiglitz

Country, Voice, Community

Source: www.progressive.org
Unfettered market American-style capitalism doesn't work. Developing countries can't afford that kind of luxury. They just can't afford it. Period. If there's a mistake, they can't afford to put out $2 trillion.

Joseph Stiglitz

Country, Mistake, Luxury

Interview with Amitabh Pal, www.sharedhost.progressive.org. May 27, 2011.
The country has large unfunded liabilities - social security, health care, and there will have to be some adjustments to these problems. What is scary though is how much worse things have gotten in the last eight years, and the Iraq war is one of the main factors.

Joseph Stiglitz

Country, War, Scary

Source: www.washingtonpost.com
In the midst of the East Asian crisis, there were choices. One choice would have been to encourage countries to implement a bankruptcy law that could have threatened the interests of the lenders. Workers' rights should be a central focus of development. But nowhere did issues of workers' rights, including the right to participate in the decisions which would affect their lives in so many ways, get raised.

Joseph Stiglitz

Country, Choices, Focus
As a rich country, we can, in some sense, "afford" the war. But spending money on the war means that we are not spending money on other things that we could have spent the money on.

Joseph Stiglitz

Country, War, Mean

Source: www.washingtonpost.com
It is a set of policies formulated between 15th and 19th streets by the U.S. Treasury, and World Bank. Countries should focus on stabilization, liberalization, privatization.

Joseph Stiglitz

Country, Focus, World
The international institutions go around the world preaching liberalization, and the developing countries see that means open up your markets to our commodities, but we aren't going to open our markets to your commodities. In the nineteenth century, they used gunboats. Now they use economic weapons and arm-twisting.

Joseph Stiglitz

Country, Mean, World

Source: www.progressive.org
Fortunately, America remains a robust democracy, where most individuals are not afraid to speak out. What we have done in Iraq has, however, compromised out standing as an advocate of basic human rights - the prime minister of one country responding to criticism of America for its human rights put it, it was liking having Dracula guard the blood bank. The loss of America's moral standing has been one of the great losses of this war.

Joseph Stiglitz

Country, War, Loss

Source: www.washingtonpost.com
Countries were told they had no incentives because of social ownership. The solution was privatization and profit, profit, profit. Privatization would replace inefficient state ownership, and the profit system plus the huge defense cutbacks would let them take existing resources and an increase in consumption. Worries about distribution and competition or even concerns about democratic processes being undermined by excessive concentration of wealth could be addressed later.

Joseph Stiglitz

Country, Worry, Competition
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.

Joseph Stiglitz

Country, Parent, Income

Source: www.pbs.org
For 60 years, since World War II, we have been trying to create a rules-based system, a global economic system. We understand that what makes our economy function is what we call the rule of law, and what is true domestically is also true internationally. It is important to have rules by which we govern our relations with other countries.

Joseph Stiglitz

Country, War, Important

Source: www.truth-out.org
The decision-making process in the White House does not let most issues get up to the President. The Council thought opening up global markets to derivatives that would destabilize other countries wasn't likely to create a lot of jobs in the U.S. and might adversely affect U.S. interests by causing global economic instability.

Joseph Stiglitz

Country, House, President
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.

Joseph Stiglitz

Country, Tariffs, Developing Countries

"In defence of the Asian Infrastructure Investment Bank" by Joseph Stiglitz, www.theguardian.com. April 14, 2015.
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.

Joseph Stiglitz

Country, Challenges, Economy

Source: www.huffingtonpost.com
What Trump has announced - that he is going to not obey rules by which we govern our relations with other countries. He's going to reject the treaties that we have had in the past. He is going to go from what is called a multilateral system, where we all work together, to trying to deal country by country and basically throw out what has been achieved over a 60-year period.

Joseph Stiglitz

Country, Past, Working Together

Source: www.truth-out.org
If you're injured in an automobile accident, and you sue the driver, you get much more for your injury than if you're fighting for your country. There's a double standard here.

Joseph Stiglitz

Country, Fighting, Double Standard

Source: www.spiegel.de
China's accumulation of reserves is a result of the IMF's mismanagement of the Asian financial crisis a decade or so ago. If countries know they can't rely on the IMF to help them, their best defense is their own reserve cushion. In a time of spreading global recession, too much emphasis on savings in surplus countries like China can impede prospects for global growth.

Joseph Stiglitz

Country, Growth, Helping

Source: www.huffingtonpost.com
The problem with NAFTA was with what we wanted. And there, the agenda had been set by our corporations. So what is true is that workers in the United States and workers in the developing countries were often disadvantaged. They were worse off. The big winners were our corporations.

Joseph Stiglitz

Country, Problem, Winner

Source: www.truth-out.org
No one would look just at a firm's revenues to assess how well it was doing. Far more relevant is the balance sheet, which shows assets and liability. That is also true for a country.

Joseph Stiglitz

Country, Balance, Looks
The powershift began already several years ago, under the Bush administration, when the dollar became very volatile and started declining. That is when China shifted from having almost 100 percent of its reserves in dollars to 75 percent. Some countries went completely out of the dollar. The dollar, for all intents and purposes, lost its special reserve status and people starting talking about a portfolio, or basket, approach as a store of wealth instead of the dollar.

Joseph Stiglitz

Country, People, Special

Source: www.huffingtonpost.com
The median family income in the U.S. is lower than it was a quarter-century ago, and if people don't have income, they can't consume, and you can't have a strong economy. There's significant risk - actually it's no longer a risk - a significant likelihood of a marked slowdown not only in China, but also in a lot of other countries like Brazil, which is in recession. All of the other countries that depend on commodities, including Canada, are facing difficulties. So it's hard to see a story of a strong U.S. economy.

Joseph Stiglitz

Country, Strong, People

Source: www.macleans.ca
I think that for the developing world there are many versions of capitalism, and countries have to choose one that's appropriate.

Joseph Stiglitz

Country, Thinking, World

Interview with Amitabh Pal, www.sharedhost.progressive.org. May 27, 2011.

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Born: February 9, 1943
Occupation: Economist
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