A Quote by Joseph Stiglitz

There have always been two theories about inequality. One is that it reflects just deserts. The other is that there are large elements of exploitation and inequality of opportunities. The evidence is overwhelmingly that the increase in inequality is associated with those negative factors. If it were all social contribution, then when the top did better, they would be contributing to everybody's well-being. That trickle-down hasn't happened. We've seen median income, people in the middle, actually worse off than they were 25 years ago.

Joseph Stiglitz

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About Actually Always Associated Been Being Better Contributing Contribution Did Down Elements Everybody Evidence Exploitation Factors Happened Income Increase Inequality Just Large Median Middle Negative Off Opportunities Other People Reflects Seen Social Than Then Theories Those Top Trickle Two Well Well-Being Were Worse Would Would Be Years Years Ago

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Joseph Stiglitz
American - Economist
Born: February 9, 1943

Most people believe that inequality is rising - and indeed it has been rising for a while in a number of rich countries. And there is lots of talk and realization of this. It's harder to understand that at the same time, you can actually have global inequality going down. Technically speaking, national inequality can increase in every single country and yet global inequality can go down. And why it is going down is because very large, populous, and relatively poor countries like India and China are growing quite fast.

Branko Milanovic

Here's what income and wealth inequality is about. Last year, the top 25 hedge fund managers made more than 24 billion, enough to pay the salaries of 425,000 public school teachers. This level of inequality is neither moral or sustainable

Bernie Sanders

we should reject the attempt to divert the national conversation away from soaring inequality toward the alleged moral failings of those Americans being left behind. Traditional values aren't as crucial as social conservatives would have you believe ? and, in any case, the social changes taking place in America's working class are overwhelmingly the consequence of sharply rising inequality, not its cause.

Paul Krugman

True education makes for inequality; the inequality of individuality, the inequality of success, the glorious inequality of talent, of genius.

Felix Schelling

Global inequality is such an abstract concept, simply because there is no global government. Telling people in rich countries who have had no increase in real incomes, stagnant median wages and so on, that on the other hand global inequality is going down because people who are much poorer than them are getting richer - it's something that maybe they would like in an abstract sense, because everyone is happy there are fewer poor Chinese, but you may not be as happy if these Chinese are taking your job.

Branko Milanovic

Income inequality has no necessary connection with poverty, the lack of material resources for a decent life, such as adequate food, shelter, and clothing. A society with great income inequality may have no poor people, and a society with no income inequality may have nothing but poor people.

Robert Higgs

It is true that globalization has fueled greater income inequality. But much of this increase should be welcomed, not condemned. There is nothing inherently bad about inequality. Whether it is bad depends on how it comes about and what it does.

Angus Deaton

When I was poor and I complained about inequality they said I was bitter. Now I'm rich and I complain about inequality they say I'm a hypocrite. I'm starting to think they just don't want to talk about inequality.

Russell Brand

I think, unfortunately, we've always lived in a world of massive inequality: inequality between the haves and the have-nots, inequality between men and women that not only exists temporally but geographically as well.

O. T. Fagbenle

Hillary Clinton, income inequality, it's richest damn woman next to the Kennedy family, and you're trying to tell me she cares about income inequality?

Joe Biden

There is far too little discussion in Washington about the collapse of the middle class , almost no discussion at all about the incredible income inequality and wealth inequality in this country, and the fact that we're moving toward an oligarch form of society.

Bernie Sanders

Stark inequality, poverty, and unemployment are driving increased social unrest and, consequently, social and economic risk. Environmental deterioration may well intensify social inequality.

Sharan Burrow

Inequality hardens society into a class system. Inequality divides us from one another... Inequality undermines democracy.

George Packer

Egalitarians create the most dangerous inequality of all - inequality of power. Allowing politicians to determine what all other human beings will be allowed to earn is one of the most reckless gambles imaginable. Like the income tax, it may start off being applied only to the rich but it will inevitably reach us all.

Thomas Sowell

It's very hard to persuade a young person who has seen the Great Recession, who has seen all the problems with inequality, to tell them inequality is not important and that markets are always efficient. They'd think you're crazy.

Joseph Stiglitz

In the U.S. when people like me started writing things about inequality, the economic journals had no classification for inequality. I couldn't find where to submit my inequality papers because there was no such topic. There was welfare, there was health issues, there was trade obviously. Finance had hundreds of sub groups.

Branko Milanovic

A Quote by Joseph Stiglitz

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