Quotes from Joseph E. Stiglitz

Es este desdén por la verdad, la ciencia, el conocimiento y la democracia lo que diferencia a Reagan, y otros movimientos conservadores del pasado, de la Administración Trump y otros líderes similares

Why do investors fail to realize that money placed in a mutual fund that tries to pick "out-performing stocks" is unlikely to yield a better return than money invested in the S&P 500? If fund managers and investment advisers are so good at picking stocks, why are they risking your money rather than their own? Some

La economía no es un juego de suma cero; la política económica afecta al crecimiento, y las acciones que aumentan la desigualdad ralentizan el crecimiento, especialmente a largo plazo.

We saw that balanced increases in taxes and expenditures stimulate the economy. By the same token, balanced cutbacks in expenditures and taxes will lead to a contraction in the economy. And if we go one step farther, as the Right wants to do, to cut back expenditures even more, in a valiant if possibly fruitless attempt to reduce the deficit, the contraction will be even greater. U

Los intentos descarados de suprimir a algunos votantes y el fraude electoral desbocado, el sabotaje a la democracia, constituyen a su vez un caso aparte en la Administración actual. No es que estas cosas no se hicieran en el pasado —por desgracia, son casi inherentes a la tradición estadounidense—, sino que nunca se habían hecho de manera tan implacable, con tanta precisión y tan flagrantemente.

Rather than justice for all, we are evolving into a system of justice for those who can afford it. We have banks that are not only too big to fail, but too big to be held accountable.

Development is about transforming the lives of people, not just transforming economies.

The only true and sustainable prosperity is shared prosperity.

Of all the costs imposed on our society by the top 1 percent, perhaps the greatest is this: the erosion of our sense of identity in which fair play, equality of opportunity, and a sense of community are so important.

To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others. The former adds to society. The latter typically subtracts from it, for in the process of taking it away, wealth gets destroyed. A monopolist who overcharges for his product takes money from those whom he is overcharging and at the same time destroys value. To get his monopoly price, he has to restrict production.

The more divided a society becomes in terms of wealth, the more reluctant the wealthy are to spend money on common needs. The rich don't need to rely on government for parks or education or medical care or personal security.

The facts shouldn't get in the way of a pleasant fantasy.

decisions were often made because of ideology and politics. As a result many wrong-headed actions were taken, ones that did not solve the problem at hand but that fit with the interests or beliefs of the people in power.

Overborrowing or overlending? Lenders encourage indebtedness because it is profitable. Developing country governments are sometimes even pressured to overborrow ... Even without corruption, it is easy to be influenced by Western businessmen and financiers ... Countries that aren't sure that borrowing is worth the rist are told how important it is to establis a credit rating: borrow even if you really don't need the money.

The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live.

The U.S. incarceration rate is the world's highest and some nine to ten times that of many European countries. Almost 1 in 100 American adults is behind bars.61 Some U.S. states spend as much on their prisons as they do on their universities.

Part of the reason for this is that much of America's inequality is the result of market distortions, with incentives directed not at creating new wealth but at taking it from others.

Ensuring that we have a well-informed public citizenry is important for a well-functioning democracy, and that in turn requires an active and diverse media.

Americans all benefit from the physical and institutional infrastructure that has developed from the country's collective efforts over generations.

The head of Goldman Sachs, Lloyd Blankfein, made it perfectly clear: sophisticated investors don't, or at least shouldn't, rely on trust. Those who bought the products the banks sold were consenting adults who should have known better.

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

it's easy to get rich by getting a state asset at a deep discount.

Growing inequality, combined with a flawed system of campaign finance, risks turning America's legal system into a travesty of justice. Some may still call it the "rule of law," but in today's America the proud claim of "justice for all" is being replaced by the more modest claim of "justice for those who can afford it.

The financial sector provides ample rewards for those who agree with them: lucrative consultancies, research grants, and the like. The documentary raises a question: Could this have influenced some economists' judgments?