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 E. Stiglitz)
My work on the economics of uncertainty led naturally to the work on information asymmetries, and more generally, imperfect information. (Joseph E. 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 E. 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 E. 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 E. Stiglitz)
The notion that every well educated person would have a mastery of at least the basic elements of the humanities, sciences, and social sciences is a far cry from the specialized education that most students today receive, particularly in the research universities. (Joseph E. 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 E. Stiglitz)
I knew that discrimination existed, even though there were many individuals who were not prejudiced. (Joseph E. Stiglitz)
But while I loved all of these courses, there was an irresistible attraction of economics. (Joseph E. Stiglitz)
Amherst is a liberal arts college, committed to providing students with a broad education. (Joseph E. 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 E. Stiglitz)
My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst. (Joseph E. 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 E. Stiglitz)
Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist. (Joseph E. Stiglitz)
Another project that I began in Cambridge concerned the interaction between the distribution of income and short run macro economic behavior. (Joseph E. Stiglitz)
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