1. 10

    They [free market policies] were never based on solid empirical and theoretical foundations, and even as many of these policies were being pushed, academic economists were explaining the limitations of markets for instance, whenever information is imperfect, which is to say always.

    16
  2. 9

    I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are.

    17
  3. 8

    Trickle-down economics is a myth. Enriching corporations - as the TPP would - will not necessarily help those in the middle, let alone those at the bottom.

    19
  4. 7

    Drug companies spend more on advertising and marketing than on research, more on research on lifestyle drugs than on life saving drugs, and almost nothing on diseases that affect developing countries only. This is not surprising. Poor people cannot afford drugs, and drug companies make investments that yield the highest returns.

    28
  5. 6

    Governments can enhance growth by increasing inclusiveness. A country's most valuable resource is its people. So it is essential to ensure that everyone can live up to their potential, which requires educational opportunities for all.

    39
  6. 5

    There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.

    48
  7. 4

    Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.

    57
  8. 3

    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. Throughout history, this is something that the top 1 percent eventually do learn. Too late.

    71
  9. 2

    International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.

    75
  10. 1

    Development is about transforming the lives of people, not just transforming economies.

    80
  11. Last Update: 31 January 2023

View the rest 120 Joseph Stiglitz sayings