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Quote by Joseph Stiglitz

“When you think of policies that are going to address inequality of wealth, you have to be very thoughtful about what economists call "incidence of taxes." If most of the savings is being done by capitalists, and you tax the return on capital, then they will have less to invest. That would mean, over the long run, that the rate of interest would go up. That would therefore undo some of the intent to lower the income of capitalists.”

Quote by Joseph Stiglitz

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Joseph Stiglitz
Joseph Stiglitz

Joseph Stiglitz is a renowned economist born on February 9, 1943, in the United States. He has made extensive contributions to the field of economics, particularly in the areas of development economics, globalization, and financial policy. Stiglitz served as Chief Economist and Senior Vice President at the World Bank and was awarded the Nobel Prize in Economics in 1998. more

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