It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much that seem… - Joseph E. Stiglitz
" "It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much that seems so counter to what the world is like. Many of the things that I'm going to describe make so much more common sense than these notions that seem counter to what ones eyes see every day.
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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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Thus the first objective of state economic policy is to ensure competition. This needs to be taken into account in the process of privatization or reorganizing state enterprises, as well as in the laws allowing the formation of firms, cooperatives, and partnerships. The government must take actions to minimize the barriers to entry.
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