“I've always been sceptical about the notion that the market is a person you can engage in an argument with, and that that person is an intelligent, rational, well-intentioned person: it is fantasy. We know that ... the market is subject to irrational optimism and pessimism, and is vindictive ... You're dealing with a crazy man ... Having got what he wants he will still kill you.”
Quote by Joseph Stiglitz
Author
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
You May Also Like
“It's as if people used the invention of seat belts as an opportunity to take up drunk driving.”
Source: I.O.U.: Why Everyone Owes Everyone and No One Can Pay
“I want them poor and they deserve to be poor. You can't have capitalism without punishment.”
“Financial hydrogen bombs built on personal computers by 26-year-olds with MBAs.”
“The arrangement bore the same relation to actual finance as fantasy football bears to the NFL.”