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?
More Quotes from Joseph E. Stiglitz:
I approached the problem as a series of thought experiments - unlike many other sciences, we typically cannot do actual experiments.Joseph E. 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 E. Stiglitz
Amherst is a liberal arts college, committed to providing students with a broad education.
Joseph E. Stiglitz
The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.
Joseph E. 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 E. Stiglitz
There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.
Joseph E. Stiglitz
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Based on Topics: Future QuotesHas there ever been a more revealing moment this year? Let me just put this in fairly simple terms: Al Jazeera now broadcasts the words of Senator Durbin to the Mideast, certainly putting our troops in greater danger. No more needs to be said about the motives of liberals.
Karl Rove
It's more fun having him as everyman in the 25th Century. It is better to concentrate on what this planet will be like 500 years from now, and not be dealing with little aliens in space and all that related stuff.
Gil Gerard
Through the centuries, men of law have been persistently concerned with the resolution of disputes in ways that enable society to achieve its goals with a minimum of force and maximum of reason.
Archibald Cox