The problem is a lot of what is called economics is not economics. It is more ideology or religion.
Joseph StiglitzMost 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 StiglitzAny society has to delegate the responsibility to maintain a certain kind of order. Enforcing regulations, making sure people stop at stoplights. We canโt function as a society without rules and regulations, and the enforcement mechanism of those rules and regulations.
Joseph StiglitzNot everybody is qualified to go to Stanford, but everybody should have access to the best qualify for which they are eligible.
Joseph StiglitzWe could have saved Wall Street without putting our future in jeopardy. I predicted that there would be all-around consequences - in the long run as well as in the short run. People are now saying we can't afford health care reform because we spent all the money on the banks. So, in effect, we're saying that it's better that we give rich bankers a couple of trillion than giving ordinary Americans access to health care.
Joseph Stiglitz