Joseph E. Stiglitz: Developing

Joseph E. Stiglitz is American economist and professor, born 1943.. Explore interesting quotes on developing.
Joseph E. Stiglitz: 78   quotes 4   likes

“Development is about transforming the lives of people, not just transforming economies.”

Joseph E. Stiglitz book Making Globalization Work

Source: Making Globalization Work

People

“The theories that I (and others) helped develop explained why unfettered markets often not only do not lead to social justice, but do not even produce efficient outcomes. Interestingly, there has been no intellectual challenge to the refutation of Adam Smith’s invisible hand: individuals and firms, in the pursuit of their self-interest, are not necessarily, or in general, led as if by an invisible hand, to economic efficiency. The only question that has been raised concerns the ability of government to remedy the deficiencies of the market. Within academia, a significant fraction of economists are involved with developing and expanding on the ideas of imperfect information (and imperfect markets) that I explored. For instance, Edmund Phelps, this year’s Nobel Prize winner, belongs to this "school" of thought. But in political discourse, simplistic “market fundamentalism” continues to exert enormous influence.”

Joseph E. Stiglitz

Interview on Bebbe Grillo's Blog http://www.beppegrillo.it/eng/2007/01/stiglitz.html, January 2007.

School , Justice , Idea , Question

“The problem is easy to state: developing countries borrow too much—or are lent too much—and in ways that force them to bear most or all of the risk of subsequent increases in interest rates, fluctuations in the exchange rate, or decreases in income. Given this, it is not surprising that they often cannot repay what is owed.”

Joseph E. Stiglitz book Making Globalization Work

§8
Making globalization work (2006)

Way , Problem , Country

“TRIPs imposed on the entire world the dominant intellectual property regime in the United States and Europe, as it is today. I believe that the way that intellectual property regime has evolved is not good for the United States and the EU; but even more, I believe it is not in the interest of the developing countries.”

Joseph E. Stiglitz book Making Globalization Work

§4.2 TRIPs, p. 117
Making globalization work (2006)

World , Way , Country

“The era of multilateral trade liberalization seems to be nearing an end (at least for a while), as well-founded disillusionment in the developing countries combines with growing protectionist sentiment in the developed world.”

Joseph E. Stiglitz book Making Globalization Work

§3, p. 81
Making globalization work (2006)

World , Country

“In part, free trade has not worked because we have not tried it: trade agreements of the past have been neither free nor fair. They have been asymmetric, opening up markets in the developing countries to goods from the advanced industrial countries without full reciprocation.”

Joseph E. Stiglitz book Making Globalization Work

§3, p. 62
Making globalization work (2006)

Past , Parting , Country

“New technologies (reinforced by new trade rules) are enhancing the market power of incumbent, dominant firms, such as Microsoft, which are all from the developed world; for the first time, in a key global industry, there is a near-global monopolist.”

Joseph E. Stiglitz book Making Globalization Work

§2, p. 58
Making globalization work (2006)

World , Time

“The natural resource curse is not fate; it is choice. The exploitation of natural resources is an important part of globalization today, and in some ways the failures of the resource-rich developing countries are emblematic of globalization's failures.”

Joseph E. Stiglitz book Making Globalization Work

§5, p. 149
Making globalization work (2006)

Country , Fate , Nature , Way

“If there is to be support for trade globalization in the developed world, we must make sure that the benefits and costs are more evenly shared, which will entail more progressive income taxation.”

Joseph E. Stiglitz book Making Globalization Work

§3, p. 100
Making globalization work (2006)

World , Support , Making love