233 Quotes by Joseph Stiglitz

The protesters have called into question whether there is a real democracy. Real democracy is more than the right to vote once every two or four years. The choices have to be meaningful. But increasingly, and especially in the US, it seems that the political system is more akin to "one dollar one vote" than to "one person one vote". Rather than correcting the market failures, the political system was reinforcing them.

The same is true for the market economy: the power of markets is enormous, but they have no inherent moral character. We have to decide how to manage them... For all these reasons, it is plain that markets must be tamed and tempered to make sure they work to the benefit of most citizens. And that has to be done repeatedly, to ensure that they continue to do so.

One needs to find innovative ways to transfer and absorb risks better within Asia, better ways of managing Asian financial markets.

China's growth has been export-based, but it may be difficult for it to sustain the pace of export growth.

China has been selling a lot of goods to the West, particularly to the US, but at the same time it has been providing the money to provide the goods.

He was the best articulator of a set of ideas. But they happen to be wrong ideas.

Greenspan's irresponsible support of that tax cut was critical to its passage.

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 question is whether some of the fears of last year will be realized this year. There is strong reason to worry.