Joseph Stiglitz Quotes
It is a set of policies formulated between 15th and 19th streets by the U.S. Treasury, and World Bank. Countries should focus on stabilization, liberalization, privatization.
Policies seemed almost deliberately designed to suppress new enterprise and job creation. How many Americans will start a business if the interest rates are 150 percent?
We could, of course, always make the payments, simply by printing more money - we simply promise to pay people by giving them dollar bills - but that could set off inflation.
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.
The life prospects of an American are more dependent on the income and education of his parents than in any of the other advanced industrial countries.
When I said "the pocket of the banks," it is not necessarily a mercenary relationship. It is a mindset.
For instance, one of the costs of the war is that soldiers today get very seriously injured but stay alive, and we can keep them alive but at an enormous price.
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.
Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
America has had to turn to foreigners to finance its debt - not surprising since household saving in the last years has plummeted to zero. China is one of the largest holders of American debt.
Anybody who has watched government from the inside recognizes that governments need institutions, need ways to respond to crises.