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If there is to be support for trade globalization in the developed world, we must make sure that the benefits and costs are more evenly shared, which… - Joseph E. Stiglitz
" "If there is to be support for trade globalization in the developed world, we must make sure that the benefits and costs are more evenly shared, which will entail more progressive income taxation.
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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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Joseph Eugene Stiglitz
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Joseph Stiglitz
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An essential commitment, which virtually all observers have emphasized, is not to subsidize enterprises that are making losses. While the standard remedy for this is "privatization," it should be recognized that this is neither necessary nor sufficient for imposing hard budget constraints. Governments in many countries have subsidized private producers (e.g., of steel), and governments in some countries have imposed hard budget constraints on government enterprises.
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The United States and Europe have perfected the art of arguing for free trade while simultaneously working for trade agreements that protect themselves against imports from developing countries. [...] Western negotiators almost take it for granted that they can control what gets discussed, and determine the outcomes.
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