Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.
Joseph StiglitzEconomists often like startling theorems, results which seem to run counter to conventional wisdom.
Joseph StiglitzOne has to always ask the question: Where can one be most effective in helping shape policies? It is always difficult when you're inside because you're very constrained.
Joseph StiglitzThe striking thing about America is - it's historically, extraordinary unusual, I don't of any other instance - is that productivity of workers and wages have not moved in tandem.
Joseph StiglitzFor 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.
Joseph Stiglitz