Quotessence
Home / Authors / Joseph Stiglitz
Joseph Stiglitz

Joseph Stiglitz Quotes

Economist

Filter quotes by topic

AllCountryPeopleWarEconomyIfsProblemWorldPolicyEconomicInterestIraq WarRateThinkingCareCrisisMeanCostDoneEconomicsEconomist

Famous Joseph Stiglitz Quotes

“There will come a moment when the most urgent threats posed by the credit crisis have eased and the larger task before us will be to chart a direction for the economic steps ahead. This will be a dangerous moment. Behind the debates over future policy is a debate over history-a debate over the causes of our current situation. The battle for the past will determine the battle for the present. So it's crucial to get the history straight.”

MomentsPastCausesBehindsSituationStepsEconomicDangerousPolicyBattleTasksCrisisThreatInvestingDetermineCurrentsCreditDebateCrucialUrgentCurrent Situation
Author:Joseph Stiglitz
Create image

“The IMF is a more complicated issue. I think there is a broad sentiment among both the left and the right that the IMF may be doing more harm than good. On the right, there's the view that it represents a form of corporate welfare that is counter to the IMF's own ideology of markets. But anybody who has watched government from the inside recognizes that governments need institutions, need ways to respond to crises. If the IMF weren't there, it would probably be reinvented. So the issue is fundamentally reform.”

IfsThinkingWayNeedsMayGovernmentFormLeftViewsIssuesCrisisInstitutionsComplicatedHarmIdeologyReformCorporateWelfareSentimentsBroadsImf
Author:Joseph Stiglitz
Create image

“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.”

CountryHelpingGrowthCrisisFinancialRelyFinancial CrisisMismanagement
Author:Joseph Stiglitz
Create image

“The crisis was 2008, in 2015 - almost eight years later and the gap between where we would have been and where we are is huge and not closing. The implied unemployment rate is very high, labour force participation is very low, and the increase in wages in the second quarter was the lowest in 25 years. Before this turmoil, the U.S. economy was in better shape than Europe or Canada, but not strong.”

StrongEconomyCrisisRateLabourParticipationLowest
Author:Joseph Stiglitz
Create image

“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.”

CountryChoicesInterestDecisionFocusCrisisBankruptcy
Author:Joseph Stiglitz
Create image