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Top 25 Joseph E. Stiglitz Quotes (2024 Update)

Joseph E. Stiglitz Quote: “Ask not what your country can do for you, ask what you can do for your country.”

1. “Ask not what your country can do for you, ask what you can do for your country.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “The only true and sustainable prosperity is shared prosperity.”

2. “The only true and sustainable prosperity is shared prosperity.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Globalization is the field on which some of our major societal conflicts – including those over basic values – play out. Among the most important of those conflicts is that over the role of government and markets.”

3. “Globalization is the field on which some of our major societal conflicts – including those over basic values – play out. Among the most important of those conflicts is that over the role of government and markets.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “The euro was born with great hopes. Reality has proven otherwise.”

4. “The euro was born with great hopes. Reality has proven otherwise.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “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.”

5. “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.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Ensuring that we have a well-informed public citizenry is important for a well-functioning democracy, and that in turn requires an active and diverse media.”

6. “Ensuring that we have a well-informed public citizenry is important for a well-functioning democracy, and that in turn requires an active and diverse media.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “The head of Goldman Sachs, Lloyd Blankfein, made it perfectly clear: sophisticated investors don’t, or at least shouldn’t, rely on trust. Those who bought the products the banks sold were consenting adults who should have known better.”

7. “The head of Goldman Sachs, Lloyd Blankfein, made it perfectly clear: sophisticated investors don’t, or at least shouldn’t, rely on trust. Those who bought the products the banks sold were consenting adults who should have known better.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Part of the reason for this is that much of America’s inequality is the result of market distortions, with incentives directed not at creating new wealth but at taking it from others.”

8. “Part of the reason for this is that much of America’s inequality is the result of market distortions, with incentives directed not at creating new wealth but at taking it from others.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Americans all benefit from the physical and institutional infrastructure that has developed from the country’s collective efforts over generations.”

9. “Americans all benefit from the physical and institutional infrastructure that has developed from the country’s collective efforts over generations.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Of all the costs imposed on our society by the top 1 percent, perhaps the greatest is this: the erosion of our sense of identity in which fair play, equality of opportunity, and a sense of community are so important.”

10. “Of all the costs imposed on our society by the top 1 percent, perhaps the greatest is this: the erosion of our sense of identity in which fair play, equality of opportunity, and a sense of community are so important.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “The financial sector provides ample rewards for those who agree with them: lucrative consultancies, research grants, and the like. The documentary raises a question: Could this have influenced some economists’ judgments?”

11. “The financial sector provides ample rewards for those who agree with them: lucrative consultancies, research grants, and the like. The documentary raises a question: Could this have influenced some economists’ judgments?”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Today, China alone holds more than $1 trillion in public and private American IOUs. Cumulative borrowing from abroad during the six years of the Bush administration amounts to some $5 trillion. Most likely these creditors will not call in their loans – if they ever did, there would be a global financial crisis.”

12. “Today, China alone holds more than $1 trillion in public and private American IOUs. Cumulative borrowing from abroad during the six years of the Bush administration amounts to some $5 trillion. Most likely these creditors will not call in their loans – if they ever did, there would be a global financial crisis.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “My study of economics had taught me that the ideology of many conservatives was wrong; their almost religious belief in the power of markets – so great that we could largely simply rely on unfettered markets for running the economy – had no basis in theory or evidence.”

13. “My study of economics had taught me that the ideology of many conservatives was wrong; their almost religious belief in the power of markets – so great that we could largely simply rely on unfettered markets for running the economy – had no basis in theory or evidence.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “The more divided a society becomes in terms of wealth, the more reluctant the wealthy are to spend money on common needs. The rich don’t need to rely on government for parks or education or medical care or personal security.”

14. “The more divided a society becomes in terms of wealth, the more reluctant the wealthy are to spend money on common needs. The rich don’t need to rely on government for parks or education or medical care or personal security.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “As we look out at the world, the United States not only has the highest level of inequality among the advanced industrial countries, but the level of its inequality is increasing in absolute terms relative to that in other countries.”

15. “As we look out at the world, the United States not only has the highest level of inequality among the advanced industrial countries, but the level of its inequality is increasing in absolute terms relative to that in other countries.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “It’s expensive to keep 2.3 million people in prison.”

16. “It’s expensive to keep 2.3 million people in prison.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “We were not rich, but my parents had adjusted their lifestyle to their incomes – and in the end that is a big part of the battle.”

17. “We were not rich, but my parents had adjusted their lifestyle to their incomes – and in the end that is a big part of the battle.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Democracy, we now know, is more than periodic elections in some countries, such elections have been used to legitimize essentially authoritarian regimes and deprive large parts of the citizenry of basic rights.”

18. “Democracy, we now know, is more than periodic elections in some countries, such elections have been used to legitimize essentially authoritarian regimes and deprive large parts of the citizenry of basic rights.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “The powerful try to frame the discussion in a way that benefits their interests, realizing that, in a democracy, they cannot simply impose their rule on others. In one way or another, they have to “co-opt” the rest of society to advance their agenda. Here.”

19. “The powerful try to frame the discussion in a way that benefits their interests, realizing that, in a democracy, they cannot simply impose their rule on others. In one way or another, they have to “co-opt” the rest of society to advance their agenda. Here.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “The success of an economy can be assessed only by looking at what is happening to the living standards – broadly defined – of most citizens over a sustained period of time.”

20. “The success of an economy can be assessed only by looking at what is happening to the living standards – broadly defined – of most citizens over a sustained period of time.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Growing inequality, combined with a flawed system of campaign finance, risks turning America’s legal system into a travesty of justice. Some may still call it the “rule of law,” but in today’s America the proud claim of “justice for all” is being replaced by the more modest claim of “justice for those who can afford it.”

21. “Growing inequality, combined with a flawed system of campaign finance, risks turning America’s legal system into a travesty of justice. Some may still call it the “rule of law,” but in today’s America the proud claim of “justice for all” is being replaced by the more modest claim of “justice for those who can afford it.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Most importantly, it became clear that the name “free trade agreement” was itself a matter of deceptive advertising: it was really a managed trade agreement, managed especially for special corporate interests, particularly in the United States.”

22. “Most importantly, it became clear that the name “free trade agreement” was itself a matter of deceptive advertising: it was really a managed trade agreement, managed especially for special corporate interests, particularly in the United States.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others. The former adds to society. The latter typically subtracts from it, for in the process of taking it away, wealth gets destroyed. A monopolist who overcharges for his product takes money from those whom he is overcharging and at the same time destroys value. To get his monopoly price, he has to restrict production.”

23. “To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others. The former adds to society. The latter typically subtracts from it, for in the process of taking it away, wealth gets destroyed. A monopolist who overcharges for his product takes money from those whom he is overcharging and at the same time destroys value. To get his monopoly price, he has to restrict production.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “If a business borrows to buy a machine, it’s a good thing, not a bad thing. During the past six years, America – its government, its families, the country as a whole – has been borrowing to sustain its consumption. Meanwhile, investment in fixed assets – the plants and equipment that help increase our wealth – has been declining.”

24. “If a business borrows to buy a machine, it’s a good thing, not a bad thing. During the past six years, America – its government, its families, the country as a whole – has been borrowing to sustain its consumption. Meanwhile, investment in fixed assets – the plants and equipment that help increase our wealth – has been declining.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “As medical care has improved, life expectancy has increased – on average, in the United States, by some two years between 1990 and 2000. But for the poorest group of Americans there has been no progress, and for poor women life expectancy has actually been declining.”

25. “As medical care has improved, life expectancy has increased – on average, in the United States, by some two years between 1990 and 2000. But for the poorest group of Americans there has been no progress, and for poor women life expectancy has actually been declining.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “If economic power in a country becomes too unevenly distributed, political consequences will follow. While we typically think of the rule of law as being designed to protect the weak against the strong, and ordinary citizens against the privileged, those with wealth will use their political power to shape the rule of law to provide a framework within which they can exploit others.9.”

26. “If economic power in a country becomes too unevenly distributed, political consequences will follow. While we typically think of the rule of law as being designed to protect the weak against the strong, and ordinary citizens against the privileged, those with wealth will use their political power to shape the rule of law to provide a framework within which they can exploit others.9.”

— Joseph E. Stiglitz

Joseph E. Stiglitz Quote: “Europe’s reaction to the UK’s referendum was dominated by the same harsh response that greeted Greece’s June 2015 ballot-box rejection of its bailout package. Herman Van Rompuy, former European Council1 president, expressed a widespread feeling when he said that Cameron’s decision to hold a referendum “was the worst policy decision in decades.” In so saying, he revealed a deep antipathy toward democratic accountability.”

27. “Europe’s reaction to the UK’s referendum was dominated by the same harsh response that greeted Greece’s June 2015 ballot-box rejection of its bailout package. Herman Van Rompuy, former European Council1 president, expressed a widespread feeling when he said that Cameron’s decision to hold a referendum “was the worst policy decision in decades.” In so saying, he revealed a deep antipathy toward democratic accountability.”

— Joseph E. Stiglitz

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