Joseph Stiglitz Quotes
The financial sector has so distorted salaries that physicists are getting drawn into the financial sector. All that has led to an undersupply of people committed to the public sector.
Stiglitz, Joseph E. The Price of Inequality: How Today's Divided Society Endangers Our Future. W. W. Norton & Company, 2012.
While business generally pays much more than Federal service, there are many brilliant people in the government who are not primarily motivated by making the most possible money. NIST for example had two Nobel Prize winners, and several others have served in the National Institutes of Health. Some of the best economists have worked for the government, and the military is full of outstanding men and women of intellect. But generally, with its higher salaries, the private sector has the recruiting advantage though not to the degree Regan implied.
Dr. Franklin, the oldest delegate, had written his speech but was feeling too weak to present it. The other Pennsylvania delegate, James Wilson, read his speech.
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.
