The protesters have called into question whether there is a real democracy. Real democracy is more than the right to vote once every two or four years. The choices have to be meaningful. But increasingly, and especially in the US, it seems that the political system is more akin to "one dollar one vote" than to "one person one vote". Rather than correcting the market failures, the political system was reinforcing them.
Joseph StiglitzThe budgetary cost to the UK of the wars in Iraq and Afghanistan through 2010 will total more than £18 billion. If we include the social costs the total impact will exceed £20 billion.
Joseph StiglitzI think that for the developing world there are many versions of capitalism, and countries have to choose one that's appropriate.
Joseph StiglitzThese debt obligations will simply erode America's standard of living in the future. Money spent to service the debt is money that we don't have to spend on consumption's goods, or on investment in our future.
Joseph Stiglitz