Address to the 18th Australia-Fiji Business Forum, Shangri-La Fijian Resort, Sydney, Australia, 17 October 2005 (excerpts)
“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.”
§3, p. 81
Making globalization work (2006)
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Joseph E. Stiglitz 39
American economist and professor, born 1943. 1943Related quotes
Source: The Political Economy of International Relations (1987), Chapter Seven, Dependence And Economic Development, p. 274
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“Trade is simply too important for economic development to be left to free trade economists.”
Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 3, More trade, fewer ideologies, p. 83
Context: The importance of international trade for economic development cannot be overemphasized. But free trade is not the best path to economic development. Trade helps economic development only when the country employs a mixture of protection and open trade, constantly adjusting it according to its changing needs and capabilities. Trade is simply too important for economic development to be left to free trade economists.
“World leaders should keep their word, particularly the developed countries.”