Works in ChatGPT, Claude, or Any AI
Add semantic quote search to your AI assistant via MCP. One command setup.
Competition is important, not only because of its ability to promote economic efficiency but also because of the zest that it gives to life. Here we … - Joseph E. Stiglitz
" "Competition is important, not only because of its ability to promote economic efficiency but also because of the zest that it gives to life. Here we encounter one of the many ambivalences that characterizes our views about market economies: Competition is good, but we have our doubts about excessive competition. We encourage cooperation within teams but competition among them. We frown upon people who are excessively competitive. Yet the competitive market environment may encourage and bring out these aspects of individuals' personalities. If ruthlessly competitive people are successful, such behavior may be imitated. At the same time those who are (excessively) cooperative may be taken advantage of, derogated as pansies. Accordingly such behavior will be discouraged.
English
Collect this quote
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.
Also Known As
Birth Name:
Joseph Eugene Stiglitz
Native Name:
Joseph Stiglitz
Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.
Additional quotes by Joseph E. Stiglitz
In short, whether for the obvious reason that in the absence of futures markets the price system cannot perform its essential coordinating role with respect to future-oriented activities, such as investments, or for the more subtle reasons just discussed, that in the absence of futures markets, extending infinitely far into the future, the market economy is likely to exhibit dynamic instabilities there is no reason to believe that even with rational expectations it will converge to the steady state; there is no presumption that markets, left to themselves, will be efficient. For advocates of market socialism, the implication of this analysis seems clear: There is a need for the kind of government control of the allocation of investment envisaged in market socialism.
Try QuoteGPT
Chat naturally about what you need. Each answer links back to real quotes with citations.
Loading...