Joseph Stiglitz
Joseph Stiglitz
Joseph Eugene Stiglitz, ForMemRS, FBA, is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciencesand the John Bates Clark Medal. He is a former senior vice president and chief economist of the World Bank and is a former member and chairman of theCouncil of Economic Advisers. He is known for his critical view of the management of globalization, laissez-faire economists, and some international institutions like the International Monetary...
NationalityAmerican
ProfessionEconomist
Date of Birth9 February 1943
CountryUnited States of America
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.
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.
I grew up in a family in which political issues were often discussed, and debated intensely.
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?
In developing countries, lack of infrastructure is a far more serious barrier to trade than tariffs.
Even if Bush could be forgiven for taking America, and much of the rest of the world, to war on false pretenses, and for misrepresenting the cost of the venture, there is no excuse for how he chose to finance it. His was the first war in history paid for entirely on credit. As America went into battle, with deficits already soaring from his 2001 tax cut, Bush decided to plunge ahead with yet another round of tax relief for the wealthy.
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.
You can't overestimate what happens when you encourage regulators to believe that the goal of regulation is not to regulate.
The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.
I understand why political leaders in the beginning want to be cheerleaders to generate optimism. But to admit that they didn't understand the depths of the problem afterwards, I found a little bit surprising.
Health care is very different from other sectors of the economy in several respects, one of which is the fact that the risk can be very high beyond people's ability. That leads to insurance.
Not everybody is qualified to go to Stanford, but everybody should have access to the best qualify for which they are eligible.
Active learning is always involved with interaction between teachers and students and Socratic methods and that's gonna continue.