Amherst is a liberal arts college, committed to providing students with a broad education.
Joseph Stiglitz
Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.
Joseph Stiglitz
As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.
Joseph Stiglitz
But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.
Joseph Stiglitz
But while I loved all of these courses, there was an irresistible attraction of economics.
Joseph Stiglitz
Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.
Joseph Stiglitz
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Joseph Stiglitz
I grew up in a family in which political issues were often discussed, and debated intensely.
Joseph Stiglitz
I knew that discrimination existed, even though there were many individuals who were not prejudiced.
Joseph Stiglitz
I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous.
Joseph Stiglitz
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.
Joseph Stiglitz
I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard.
Joseph Stiglitz
I went to public schools, and while Gary was, like most American cities, racially segregated, it was at least socially integrated - a cross section of children from families of all walks of life.
Joseph Stiglitz
I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights.
Joseph Stiglitz
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 Stiglitz
In debate, one randomly was assigned to one side or the other. This had at least one virtue - it made one see that there was more than one side to these complex issues.
Joseph Stiglitz
International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.
Joseph Stiglitz
Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.
Joseph Stiglitz
Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation.
Joseph Stiglitz
My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth.
Joseph Stiglitz
Related Authors
Milton Friedman, Thomas Sowell, John Kenneth Galbraith, Jeremy Rifkin, Thorstein Veblen, Paul Samuelson, Alan Greenspan, Jeffrey Sachs
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