A Quote by Joseph Stiglitz
The analysis in the era of Ronald Reagan and Margaret Thatcher was that government was interfering with the efficiency of the economy through protectionism, government subsidies, and government ownership. Once the government "got out of the way," private markets would allocate resources efficiently and generate robust growth. Development would simply come.
Related Quotes
Year after year in Washington, budget debates seem to come down to an old, tired argument: on one side, those who want more government, regardless of the cost; on the other, those who want less government, regardless of the need....Government has a role, and an important role. Yet, too much government crowds out initiative and hard work, private charity and the private economy....Government should be active, but limited; engaged, but not overbearing.
Even if someone wanted a purely free-market, competitive media system, it would require extensive government regulation to set up those markets. All our largest media companies are based on the grant of explicit government monopoly privileges and licenses, or franchises, or subsidies. The government didn't come in after the system was in place, it built the system in the first place.
Efficiency in government is a more elusive concept than efficiency in the private economy, which may be measured relatively easily as output per units of input. What is the government's 'output?'
In the 1980s and 1990s, radical change in economic policies fostered by Ronald Reagan and Margaret Thatcher put the brakes on government planning and ushered in a new free-market supply-side era and a two-decade boom. That model has been abandoned in the new century. This must be reversed.
To speak practically and as a citizen, unlike those who call themselves no-government men, I ask for, not at once no government, but at once a better government. Let every man make known what kind of government would command his respect, and that will be one step toward obtaining it.
It was an absurd theory that by cutting taxes you would increase government revenues, because the growth of the economy would create an overflow of taxes that would fall into the government coffers.
During the socialist period, the government became too big. That created a crowding-out effect in the private economy, and it gave everybody the need to pay more taxes in order to finance this big government. We are against big government. We want a smaller and more efficient government.
In almost every enterprise, government has provided business with opportunities for private gain at public expense. Government nurtures private capital accumulation through a process of subsidies, supports, and deficit spending and an increasingly inequitable tax system.
Without computers, the government would be unable to function at the level of effectiveness and efficiency that we have come to expect. . . . Today's government uses computers which are capable of cranking out millions of documents per day without any regard whatsoever for their content, thereby freeing government employees for more important responsibilities, such as not answering their phones.
We gotta get Fannie and Freddie out of government ownership. It makes no sense that these are owned by the government and have been controlled by the government for as long as they have.
China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway.
We want a good government that works. Let us rise above caste divisions and nepotism and pledge to elect a government that is development oriented. Delhi needs a stable government and a strong government
Government isn't there just to administer life support to failing markets. Without the government, many of those markets would not even exist.
You can see it in the worship of [Ronald] Reagan, which portrays him as somebody who saved us from government. Actually he was an apostle of big government.
Some members of Congress will claim that the federal government needs the power to monitor Americans in order to allow the government to operate more efficiently. I would remind my colleagues that, in a constitutional republic, the people are never asked to sacrifice their liberties to make the jobs of government officials easier.
The Government of the absolute majority instead of the Government of the people is but the Government of the strongest interests; and when not efficiently checked, it is the most tyrannical and oppressive that can be devised.
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