Frasi di Joseph Stiglitz

Decisione, Natura, Sulla vita, Sulla salute

„Questa crisi, questo disastro [europeo] è artificiale […] e in sostanza questo disastro artificiale ha quattro lettere: l'euro.“

Sul disastro

„Dobbiamo riscrivere le regole dell'economia di mercato, ancora una volta, fare di meglio per ridurre il potere di mercato monopolistico, l'esclusione e la discriminazione; garantendo una minore trasmissione intergenerazionale dei vantaggi acquisiti, inclusa una minore trasmissione intergenerazionale del capitale umano e finanziario, in parte migliorando l'istruzione pubblica, aumentando la tassazione sull'eredità e reintroducendo una progressività maggiore nelle imposte sul reddito.“

Sull'istruzione

„L'aumento della finanziarizzazione dell'economia, combinata con una governance aziendale più debole e una vera e propria diffusa turpitudine morale, hanno portato ad una situazione in cui molti, nel settore finanziario, sfruttano il resto dell’economia.“

„Il mondo è sempre più diseguale ed è ormai evidente che non solo esistono elevati livelli di disuguaglianza nella maggior parte dei paesi, ma che queste disparità sono in aumento.“

Sul mondo

„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.

„Rather than justice for all, we are evolving into a system of justice for those who can afford it. We have banks that are not only too big to fail, but too big to be held accountable.“

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

— Joseph E. Stiglitz, Making Globalization Work

„Most poor people earn more than minimum wage when they are working; their problem is not low wages. The problem comes when they are not working.“

— Joseph E. Stiglitz
Economics (1993).

„The reason that the invisible hand often seems invisible is that it is often not there.“

— Joseph E. Stiglitz
Quoted in Daniel Altman, "Managing Globalization: Q & A with Joseph Stiglitz" http://blogs.iht.com/tribtalk/business/globalization/?p=177, The International Herald Tribune (2006-10-11).

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„There was an incongruity between many of the models that we were taught and the policy positions that our teachers (and we) believed in. The models seemed more consonant with free market prescriptions, though they were presented more as benchmarks rather than full characterizations.“

„The notion that every well educated person would have a mastery of at least the basic elements of the humanities, sciences, and social sciences is a far cry from the specialized education that most students today receive, particularly in the research universities.“

„I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous.“

„Once I undertook the analysis of a problem, I often looked at it from a variety of perspectives. I approached the problem as a series of thought experiments — unlike many other sciences, we typically cannot do actual experiments.“

„There is little doubt that the observation that quality may depend on price (productivity on wages; default probability on interest rates) has provided a rich mine for economic theorists: A simple modification of the basic assumptions results in a profound alteration of many of the basic conclusions of the standard paradigm. The Law of Supply and Demand has been repealed. The Law of the Single Price has been repealed. The Fundamental Theorem of Welfare Economics has been shown not to be valid.
More than that, the theories that we describe here provide the basis of progress toward a unification of macroeconomics and microeconomics. They pro vide an explanation of unemployment and credit rationing, derived from basic microeconomic principles. It is a theory in which the extensive idleness that periodically confronts society's resources, human and capital, is seen as but the most obvious example of market failures that prevasively and persistently distort the allocation of resources.“

— Joseph E. Stiglitz
"The Causes and Consequences of The Dependence of Quality on Price", Journal of Economic Literature, Vol. 25, No. 1 (Mar., 1987)

„The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn’t seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn. Too late.“