Joseph Stiglitz Quotes

Trade balances are determined by national savings propensities, not exchange rates.

The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country.

Well, the U.S. is running a current account deficit; we are creating lots of investment opportunities in the United States that exceed our own domestic savings rates, so the issue here is to encourage higher savings rates in the United States.

U.S. capital formation, which has been pretty high in the '90s and very high in the late 1990s, is what is being financed by the savings of the rest of the world, generally poorer than ourselves, because our deficit on current account, chronic deficit, is their surplus, and they have been willingly bringing that to the American market.

One of the key drivers of Ireland's future is our balance of trade surplus.

The trade deficit always goes up when the economy is strong and plummets when the economy sinks, as it did during both the Great Depression of the 1930s and the Great Recession of 2008-09.

That level of trade deficit throttles real growth in our country and continues the unfortunate path of selling out America. We are not winning the global trade war, we are losing it badly.

Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.

We aren't leveraging this great economic engine, the strongest economy in the world. And yet we have this totally weak response. We import $500 billion a year more in products than we export.

The first thing that any President must do to lead effectively on economic issues is to persuade the country that trade matters.

Most of the expressions we use in economics are relative terms. All of us are votaries of free trade.

With a strong domestic economy, low national unemployment at 5 percent, and increasing retail sales, the picture should look rosy. But one look at the trade deficit changes all of that.

There is a strong link between the following three things: exporting, manufacturing and the degree of saving by the population. It's complicated, but if the population doesn't save, the economy will not tend to export as much, and if it doesn't export as much, it won't manufacture enough.

I think bolstering free trade is a boon to the dollar.

American consumers benefit from free trade and investment.

The German export successes are not the result of some sort of currency manipulation, but of the increased competitiveness of companies. The American growth model, on the other hand, is in a deep crisis.

Today, we have a trade regime which has led to the largest trade deficits this country has ever experienced.

The more competitive value of the dollar turned around the trade deficit.

We are on pace this year to have a trade deficit that is larger than $800 billion. We have never faced that before, but we continue to put forward trade agreements like these that leave us naked to competition that is neither free nor fair.

It is not our foreign trade that has caused the wonderful growth and expansion of the Republic.

There is no way out of playing by the rules of the international economy if you wish to be a part of it.

Trade never balances. It hasn’t since 1776.

In a global marketplace with its increased insecurities and - indeed often - volatility and instability, national economic stability is at a premium, the precondition for all we can achieve, and no nation can secure the high levels of sustainable investment it needs without both monetary and fiscal stability together.

The United States is the least protectionist country in the world but has the largest trade deficit, while other countries are highly protectionist and have huge trade surpluses. This cannot continue.

We're in a trade war. We've been in a trade war for decades. That's why we have the deficit.