If stability and efficiency required that there existed mar… - Joseph E. Stiglitz

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If stability and efficiency required that there existed markets that extended infinitely far into the future — and these markets clearly did not exist — what assurance do we have of the stability and efficiency of the capitalist system?

Joseph E. Stiglitz

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About Joseph E. Stiglitz

Joseph Eugene Stiglitz (born February 9, 1943) is an American economist and author. He is the winner of the John Bates Clark Medal in 1979 and the Nobel Memorial Prize in Economics in 2001, which he shared with George Akerlof and Michael Spence. Stiglitz previously served as Chief Economist of the World Bank between 1997 and 2000.

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Birth Name: Joseph Eugene Stiglitz

Native Name: Joseph Stiglitz

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Ha-Joon Chang Paul Krugman John Komlos Friedrich Hayek Kenneth Arrow

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Economists often like startling theorems, results which seem to run counter to conventional wisdom.

In part, free trade has not worked because we have not tried it: trade agreements of the past have been neither free nor fair. They have been asymmetric, opening up markets in the developing countries to goods from the advanced industrial countries without full reciprocation.

The fall of Wall Street is for market fundamentalism what the fall of the Berlin Wall was for communism.

If stability and efficiency required that there existed markets that extended infinitely far into the future — and these markets clearly did not exis… - Joseph E. Stiglitz

About Joseph E. Stiglitz

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Additional quotes by Joseph E. Stiglitz