--- title: "14 Economic Quotes By Joseph Stiglitz" description: "14 Economic quotes by Joseph Stiglitz. Plus more from Joseph Stiglitz and more Economic sayings from other authors." image: "https://sms4smile.com/quotes/i/931/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_805782.jpg" --- > [Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile…](https://sms4smile.com/quotes/joseph-stiglitz/much-of-my-work-in-this-period-was-concerned-with-exploring-the-logic/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/931/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_805782.jpg) > [The Clinton years were not an economic Nirvana; as chairman of the president's Council of Economic Advisers during part of this time,…](https://sms4smile.com/quotes/joseph-stiglitz/the-clinton-years-were-not-an-economic-nirvana-as-chairman-of-the/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/657/joseph-stiglitz-1351_aware_the-clinton-years-were-not-an-economic-n_2341478.jpg) > [The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.](https://sms4smile.com/quotes/joseph-stiglitz/the-only-surprise-about-the-economic-crisis-of-2008-was-that-it-came/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/5a7/joseph-stiglitz-1351_crisis_the-only-surprise-about-the-economic-cri_1853497.jpg) > [There is a broad consensus, not only in the United States but in most of the world, that if you are in…](https://sms4smile.com/quotes/joseph-stiglitz/there-is-a-broad-consensus-not-only-in-the-united-states-but-in-most/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/f52/joseph-stiglitz-1351_economic_there-is-a-broad-consensus-not-only-in-t_2107376.jpg) > [Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile…](https://sms4smile.com/quotes/joseph-stiglitz/much-of-my-work-in-this-period-was-concerned-with-exploring-the-logic-2/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/a0b/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_2706739.jpg) > [Similarly, payments for a dead soldier amount to only $500,000, which is far less than standard estimates of the lifetime economic cost…](https://sms4smile.com/quotes/joseph-stiglitz/similarly-payments-for-a-dead-soldier-amount-to-only-500-000-which-is/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/61d/joseph-stiglitz-1351_amount_similarly-payments-for-a-dead-soldier-am_1952529.jpg) > [The decision-making process in the White House does not let most issues get up to the President. The Council thought opening up…](https://sms4smile.com/quotes/joseph-stiglitz/the-decision-making-process-in-the-white-house-does-not-let-most/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/4c7/joseph-stiglitz-1351_country_the-decision-making-process-in-the-white_651720.jpg) > [The international institutions go around the world preaching liberalization, and the developing countries see that means open up your markets to our…](https://sms4smile.com/quotes/joseph-stiglitz/the-international-institutions-go-around-the-world-preaching/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/761/joseph-stiglitz-1351_arms_the-international-institutions-go-around_2667742.jpg) > [For 60 years, since World War II, we have been trying to create a rules-based system, a global economic system. We understand…](https://sms4smile.com/quotes/joseph-stiglitz/for-60-years-since-world-war-ii-we-have-been-trying-to-create-a-rules/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/828/joseph-stiglitz-1351_country_for-60-years-since-world-war-ii-we-have_2245818.jpg) > [Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to…](https://sms4smile.com/quotes/joseph-stiglitz/let-me-put-it-very-forcefully-no-large-economy-has-ever-recovered/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/260/joseph-stiglitz-1351_economic_let-me-put-it-very-forcefully-no-large-e_1865569.jpg) > [The recovery of the banks is what happens when you reduce competition, lend money to them at zero interest rates, allow them…](https://sms4smile.com/quotes/joseph-stiglitz/the-recovery-of-the-banks-is-what-happens-when-you-reduce-competition/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/6d1/joseph-stiglitz-1351_competition_the-recovery-of-the-banks-is-what-happen_3129836.jpg) > [When Donald Trump campaigned for president, he told the American people that he would be a different type of Republican, that he…](https://sms4smile.com/quotes/joseph-stiglitz/when-donald-trump-campaigned-for-president-he-told-the-american/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/ae3/joseph-stiglitz-1351_american-people_when-donald-trump-campaigned-for-preside_1783351.jpg) > [Now it is unambiguously clear that trickle-down economics does not work. But what does that mean? That means we have to structure…](https://sms4smile.com/quotes/joseph-stiglitz/now-it-is-unambiguously-clear-that-trickle-down-economics-does-not/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/552/joseph-stiglitz-1351_cutting_now-it-is-unambiguously-clear-that-trick_641445.jpg) > [There will come a moment when the most urgent threats posed by the credit crisis have eased and the larger task before…](https://sms4smile.com/quotes/joseph-stiglitz/there-will-come-a-moment-when-the-most-urgent-threats-posed-by-the/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Image](https://sms4smile.com/quotes/i/08a/joseph-stiglitz-1351_battle_there-will-come-a-moment-when-the-most-u_1899263.jpg) ## Other authors on Economic ## More by Joseph Stiglitz > [I grew up in a family in which political issues were often discussed, and debated intensely.](https://sms4smile.com/quotes/joseph-stiglitz/i-grew-up-in-a-family-in-which-political-issues-were-often-discussed/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.](https://sms4smile.com/quotes/joseph-stiglitz/but-individuals-and-firms-spend-an-enormous-amount-of-resources/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [China, with its large emerging middle class, is among the big beneficiaries of globalization.](https://sms4smile.com/quotes/joseph-stiglitz/china-with-its-large-emerging-middle-class-is-among-the-big/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [Trickle-down economics is a myth. Enriching corporations - as the TPP would - will not necessarily help those in the middle, let alone those…](https://sms4smile.com/quotes/joseph-stiglitz/trickle-down-economics-is-a-myth-enriching-corporations-as-the-tpp/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [Some people say we have this inequality because some people have been contributing much more to our society, and so it's fair that they…](https://sms4smile.com/quotes/joseph-stiglitz/some-people-say-we-have-this-inequality-because-some-people-have-been/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much…](https://sms4smile.com/quotes/joseph-stiglitz/it-s-actually-a-tribute-to-the-quality-of-economics-teaching-that/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [In an economy, when the government spends more and invests in the economy, that money circulates, and recirculates again and again. So not only…](https://sms4smile.com/quotes/joseph-stiglitz/in-an-economy-when-the-government-spends-more-and-invests-in-the/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.](https://sms4smile.com/quotes/joseph-stiglitz/the-laws-of-normal-economics-dictate-that-lower-taxes-combined-with/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [A less healthy America is not going to be as productive.](https://sms4smile.com/quotes/joseph-stiglitz/a-less-healthy-america-is-not-going-to-be-as-productive/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability -…](https://sms4smile.com/quotes/joseph-stiglitz/as-i-noted-in-my-nobel-lecture-an-early-insight-in-my-work-on-the/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [We noted the psychological problems facing many of the returning from Iraq veterans - of the 700,000 returning veterans, more than a 100,000 have…](https://sms4smile.com/quotes/joseph-stiglitz/we-noted-the-psychological-problems-facing-many-of-the-returning-from/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [World War II was really unusual, because America was in the Great Depression before. So the war did help the US economy to get…](https://sms4smile.com/quotes/joseph-stiglitz/world-war-ii-was-really-unusual-because-america-was-in-the-great/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [Moreover, because we chose to finance the way by borrowing, our deficits and debt has soared, and this means we have less room for…](https://sms4smile.com/quotes/joseph-stiglitz/moreover-because-we-chose-to-finance-the-way-by-borrowing-our/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [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…](https://sms4smile.com/quotes/joseph-stiglitz/i-ve-always-been-sceptical-about-the-notion-that-the-market-is-a/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [The striking thing about America is - it's historically, extraordinary unusual,I don't of any other instance - is that productivity of workers and wages…](https://sms4smile.com/quotes/joseph-stiglitz/the-striking-thing-about-america-is-it-s-historically-extraordinary/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/economic/joseph-stiglitz/#itemlist", "name": "14 Economic Quotes By Joseph Stiglitz", "numberOfItems": 14, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/much-of-my-work-in-this-period-was-concerned-with-exploring-the-logic/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/931/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_805782.jpg", "contentUrl": "https://sms4smile.com/quotes/i/931/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_805782.jpg", "url": "https://sms4smile.com/quotes/i/931/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_805782.jpg", "width": 1080, "height": 1080, "caption": "“Much of my work in this period was concerned with exploring the logic of economic models, but also with…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 2, "item": { "@type": "Quotation", "text": "The Clinton years were not an economic Nirvana; as chairman of the president's Council of Economic Advisers during part of this time, I'm all too aware of mistakes and lost opportunities.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/the-clinton-years-were-not-an-economic-nirvana-as-chairman-of-the/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/657/joseph-stiglitz-1351_aware_the-clinton-years-were-not-an-economic-n_2341478.jpg", "contentUrl": "https://sms4smile.com/quotes/i/657/joseph-stiglitz-1351_aware_the-clinton-years-were-not-an-economic-n_2341478.jpg", "url": "https://sms4smile.com/quotes/i/657/joseph-stiglitz-1351_aware_the-clinton-years-were-not-an-economic-n_2341478.jpg", "width": 1080, "height": 1080, "caption": "“The Clinton years were not an economic Nirvana; as chairman of the president's Council of Economic Advisers…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 3, "item": { "@type": "Quotation", "text": "The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/the-only-surprise-about-the-economic-crisis-of-2008-was-that-it-came/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/5a7/joseph-stiglitz-1351_crisis_the-only-surprise-about-the-economic-cri_1853497.jpg", "contentUrl": "https://sms4smile.com/quotes/i/5a7/joseph-stiglitz-1351_crisis_the-only-surprise-about-the-economic-cri_1853497.jpg", "url": "https://sms4smile.com/quotes/i/5a7/joseph-stiglitz-1351_crisis_the-only-surprise-about-the-economic-cri_1853497.jpg", "width": 1080, "height": 1080, "caption": "“The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 4, "item": { "@type": "Quotation", "text": "There is a broad consensus, not only in the United States but in most of the world, that if you are in an economic downturn, you need to stimulate. Germany seems to be an exception.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/there-is-a-broad-consensus-not-only-in-the-united-states-but-in-most/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/f52/joseph-stiglitz-1351_economic_there-is-a-broad-consensus-not-only-in-t_2107376.jpg", "contentUrl": "https://sms4smile.com/quotes/i/f52/joseph-stiglitz-1351_economic_there-is-a-broad-consensus-not-only-in-t_2107376.jpg", "url": "https://sms4smile.com/quotes/i/f52/joseph-stiglitz-1351_economic_there-is-a-broad-consensus-not-only-in-t_2107376.jpg", "width": 1080, "height": 1080, "caption": "“There is a broad consensus, not only in the United States but in most of the world, that if you are in an…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 5, "item": { "@type": "Quotation", "text": "Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with everyday observation.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/much-of-my-work-in-this-period-was-concerned-with-exploring-the-logic-2/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/a0b/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_2706739.jpg", "contentUrl": "https://sms4smile.com/quotes/i/a0b/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_2706739.jpg", "url": "https://sms4smile.com/quotes/i/a0b/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_2706739.jpg", "width": 1080, "height": 1080, "caption": "“Much of my work in this period was concerned with exploring the logic of economic models, but also with…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 6, "item": { "@type": "Quotation", "text": "Similarly, payments for a dead soldier amount to only $500,000, which is far less than standard estimates of the lifetime economic cost of a death. This statistical value of a life in the US amounts to circa $6.5 million.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/similarly-payments-for-a-dead-soldier-amount-to-only-500-000-which-is/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/61d/joseph-stiglitz-1351_amount_similarly-payments-for-a-dead-soldier-am_1952529.jpg", "contentUrl": "https://sms4smile.com/quotes/i/61d/joseph-stiglitz-1351_amount_similarly-payments-for-a-dead-soldier-am_1952529.jpg", "url": "https://sms4smile.com/quotes/i/61d/joseph-stiglitz-1351_amount_similarly-payments-for-a-dead-soldier-am_1952529.jpg", "width": 1080, "height": 1080, "caption": "“Similarly, payments for a dead soldier amount to only $500,000, which is far less than standard estimates of…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 7, "item": { "@type": "Quotation", "text": "The decision-making process in the White House does not let most issues get up to the President. The Council thought opening up global markets to derivatives that would destabilize other countries wasn't likely to create a lot of jobs in the U.S. and might adversely affect U.S. interests by causing global economic instability.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/the-decision-making-process-in-the-white-house-does-not-let-most/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/4c7/joseph-stiglitz-1351_country_the-decision-making-process-in-the-white_651720.jpg", "contentUrl": "https://sms4smile.com/quotes/i/4c7/joseph-stiglitz-1351_country_the-decision-making-process-in-the-white_651720.jpg", "url": "https://sms4smile.com/quotes/i/4c7/joseph-stiglitz-1351_country_the-decision-making-process-in-the-white_651720.jpg", "width": 1080, "height": 1080, "caption": "“The decision-making process in the White House does not let most issues get up to the President. The Council…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 8, "item": { "@type": "Quotation", "text": "The international institutions go around the world preaching liberalization, and the developing countries see that means open up your markets to our commodities, but we aren't going to open our markets to your commodities. In the nineteenth century, they used gunboats. Now they use economic weapons and arm-twisting.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/the-international-institutions-go-around-the-world-preaching/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/761/joseph-stiglitz-1351_arms_the-international-institutions-go-around_2667742.jpg", "contentUrl": "https://sms4smile.com/quotes/i/761/joseph-stiglitz-1351_arms_the-international-institutions-go-around_2667742.jpg", "url": "https://sms4smile.com/quotes/i/761/joseph-stiglitz-1351_arms_the-international-institutions-go-around_2667742.jpg", "width": 1080, "height": 1080, "caption": "“The international institutions go around the world preaching liberalization, and the developing countries…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 9, "item": { "@type": "Quotation", "text": "For 60 years, since World War II, we have been trying to create a rules-based system, a global economic system. We understand that what makes our economy function is what we call the rule of law, and what is true domestically is also true internationally. It is important to have rules by which we govern our relations with other countries.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/for-60-years-since-world-war-ii-we-have-been-trying-to-create-a-rules/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/828/joseph-stiglitz-1351_country_for-60-years-since-world-war-ii-we-have_2245818.jpg", "contentUrl": "https://sms4smile.com/quotes/i/828/joseph-stiglitz-1351_country_for-60-years-since-world-war-ii-we-have_2245818.jpg", "url": "https://sms4smile.com/quotes/i/828/joseph-stiglitz-1351_country_for-60-years-since-world-war-ii-we-have_2245818.jpg", "width": 1080, "height": 1080, "caption": "“For 60 years, since World War II, we have been trying to create a rules-based system, a global economic…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 10, "item": { "@type": "Quotation", "text": "Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to happen in the United States, and it's not going to happen in Europe.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/let-me-put-it-very-forcefully-no-large-economy-has-ever-recovered/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/260/joseph-stiglitz-1351_economic_let-me-put-it-very-forcefully-no-large-e_1865569.jpg", "contentUrl": "https://sms4smile.com/quotes/i/260/joseph-stiglitz-1351_economic_let-me-put-it-very-forcefully-no-large-e_1865569.jpg", "url": "https://sms4smile.com/quotes/i/260/joseph-stiglitz-1351_economic_let-me-put-it-very-forcefully-no-large-e_1865569.jpg", "width": 1080, "height": 1080, "caption": "“Let me put it very forcefully: No large economy has ever recovered from an economic downturn through…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 11, "item": { "@type": "Quotation", "text": "The recovery of the banks is what happens when you reduce competition, lend money to them at zero interest rates, allow them to gamble. That particular style of restoration actually inhibits the economic recovery.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/the-recovery-of-the-banks-is-what-happens-when-you-reduce-competition/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/6d1/joseph-stiglitz-1351_competition_the-recovery-of-the-banks-is-what-happen_3129836.jpg", "contentUrl": "https://sms4smile.com/quotes/i/6d1/joseph-stiglitz-1351_competition_the-recovery-of-the-banks-is-what-happen_3129836.jpg", "url": "https://sms4smile.com/quotes/i/6d1/joseph-stiglitz-1351_competition_the-recovery-of-the-banks-is-what-happen_3129836.jpg", "width": 1080, "height": 1080, "caption": "“The recovery of the banks is what happens when you reduce competition, lend money to them at zero interest…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 12, "item": { "@type": "Quotation", "text": "When Donald Trump campaigned for president, he told the American people that he would be a different type of Republican, that he would take on the political and economic establishment, that he would stand up for working people, that he understood the pain that families all across this country were experiencing. Well, sadly, it was just cheap and dishonest campaign rhetoric that was meant to get votes, nothing more than that.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/when-donald-trump-campaigned-for-president-he-told-the-american/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/ae3/joseph-stiglitz-1351_american-people_when-donald-trump-campaigned-for-preside_1783351.jpg", "contentUrl": "https://sms4smile.com/quotes/i/ae3/joseph-stiglitz-1351_american-people_when-donald-trump-campaigned-for-preside_1783351.jpg", "url": "https://sms4smile.com/quotes/i/ae3/joseph-stiglitz-1351_american-people_when-donald-trump-campaigned-for-preside_1783351.jpg", "width": 1080, "height": 1080, "caption": "“When Donald Trump campaigned for president, he told the American people that he would be a different type of…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 13, "item": { "@type": "Quotation", "text": "Now it is unambiguously clear that trickle-down economics does not work. But what does that mean? That means we have to structure our economic policies to make sure that we have shared prosperity. And you don't do that by giving a tax cut to the big winners and raising taxes on those who have not done very well. Your economic policy has to respond to the way our economic system has been working.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/now-it-is-unambiguously-clear-that-trickle-down-economics-does-not/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/552/joseph-stiglitz-1351_cutting_now-it-is-unambiguously-clear-that-trick_641445.jpg", "contentUrl": "https://sms4smile.com/quotes/i/552/joseph-stiglitz-1351_cutting_now-it-is-unambiguously-clear-that-trick_641445.jpg", "url": "https://sms4smile.com/quotes/i/552/joseph-stiglitz-1351_cutting_now-it-is-unambiguously-clear-that-trick_641445.jpg", "width": 1080, "height": 1080, "caption": "“Now it is unambiguously clear that trickle-down economics does not work. But what does that mean? That means…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 14, "item": { "@type": "Quotation", "text": "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.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/there-will-come-a-moment-when-the-most-urgent-threats-posed-by-the/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/08a/joseph-stiglitz-1351_battle_there-will-come-a-moment-when-the-most-u_1899263.jpg", "contentUrl": "https://sms4smile.com/quotes/i/08a/joseph-stiglitz-1351_battle_there-will-come-a-moment-when-the-most-u_1899263.jpg", "url": "https://sms4smile.com/quotes/i/08a/joseph-stiglitz-1351_battle_there-will-come-a-moment-when-the-most-u_1899263.jpg", "width": 1080, "height": 1080, "caption": "“There will come a moment when the most urgent threats posed by the credit crisis have eased and the larger…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } } ] }, { "@type": "CollectionPage", "@id": "https://sms4smile.com/quotes/about/economic/joseph-stiglitz/#webpage", "url": "https://sms4smile.com/quotes/about/economic/joseph-stiglitz/", "name": "Economic Quotes by Joseph Stiglitz", "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "mainEntity": { "@id": "https://sms4smile.com/quotes/about/economic/joseph-stiglitz/#itemlist" }, "primaryImageOfPage": { "@id": "https://sms4smile.com/quotes/i/931/joseph-stiglitz-1351_attempting_much-of-my-work-in-this-period-was-conce_805782.jpg" }, "description": "14 Economic quotes by Joseph Stiglitz. 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