Too many countries of the former Soviet bloc remain under the control of authoritarian leaders, including some, like the Russian president, Vladimir Putin, who have learned how to maintain a more convincing facade of elections than their communist predecessors. Joseph Stiglitz Read Quote
Trump sees the world in terms of a zero-sum game. In reality, globalisation, if well managed, is a positive-sum force: America gains if its friends and allies – whether Australia, the E.U., or Mexico – are stronger. But Trump’s approach threatens to turn it into a negative-sum game: America will lose, too. Joseph Stiglitz Read Quote
Under the rule of law, if the government wants to prevent firms from outsourcing and offshoring, it enacts legislation and adopts regulations to create the appropriate incentives and discourage undesirable behaviour. It does not bully or threaten particular firms or portray traumatised refugees as a security threat. Joseph Stiglitz Read Quote
The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation. Joseph Stiglitz Read Quote
Having excessive power in the hands of one country meant the fate of the world was too dependent on what happened in that one country. Joseph Stiglitz Read Quote
With the election of Trump, America’s soft power has taken a big hit. The United States has moved from a position of leadership in the creation of a rules-based international system to a position of leadership in its destruction and the creation of a regime of global protectionism. The damage will be long-lasting. Joseph Stiglitz Read Quote
For Obama, the Trans-Pacific Partnership agreement – unilaterally abrogated by Trump – was part of the ‘pivot to Asia,’ a re-assertion of the role of America in that part of the world. Joseph Stiglitz Read Quote
The Clinton years were not an economic Nirvana; as chairman of the president’s Council of Economic Advisers during part of this time, I’m all too aware of mistakes and lost opportunities. Joseph Stiglitz Read Quote
President Trump sees the world in transactional and zero-sum terms – if something is good for China, it must be bad for the U.S. By contrast, economists see the world in much more nuanced ways: if globalization is well-managed, it can be a positive-sum game, where both the U.S. and China gain; if it is badly managed, it can be negative-sum. Joseph Stiglitz Read Quote
Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis. Joseph Stiglitz Read Quote
