Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
Joseph StiglitzNationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
Joseph StiglitzAmherst is a liberal arts college, committed to providing students with a broad education.
Joseph StiglitzNo 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.
Joseph StiglitzTwenty per cent of American children grow up in poverty, and that means they get inadequate nutrition, inadequate health care, and because we have a very local education system, they get inadequate access to education. With those as a starting base, you perpetuate inequality. That's why, here in New York, Mayor de Blasio has made a big deal of trying to focus on preschool education, because by five years old, there are already huge differences. We've finally begun to recognize it.
Joseph Stiglitz