Joseph Stiglitz Quotes


Most poor people earn more than minimum wage when they are working; their problem is not low wages. The problem comes when they are not working.


Citations

Joseph Stiglitz, President's Council of Economic Advisors, Chief Economist, World Bank, Nobel Laureate in Economics, Economics, 1993

Sourced by: Eigen's Political and Historical Quotations

Related Quotes

Communications were quite primitive and out of desperation many jobless men would just walk the main road to the next community in hopes of finding work there.


Ten cents a day was a very low wage—it was about the equivalent of a meal at a tavern at the time. Workers throughout the country were outraged and give him a derogatory nickname—see Quotation 643585.


Joseph Stiglitz
Joseph Stiglitz
  • Born: February 9, 1943
  • Nationality: American
  • Profession: Economist

Joseph Eugene Stiglitz is an American economist, public policy analyst, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank and is a former member and chairman of the (US president's) Council of Economic Advisers. He is known for his support of Georgist public finance theory and for his critical view of the management of globalization, of laissez-faire economists (whom he calls "free-market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank.