A Quote by Joseph Stiglitz
People at the top spend less money than those at the bottom, so when you have redistribution toward the top, aggregate demand goes down. Unless you intervene, you're going to have a weak economy unless something else happens.
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People at the top spend less money than those at the bottom so when you have redistribution toward the top, aggregate demand goes down. Unless you intervene, you're going to have a weak economy unless something else happens. That something else could be a bubble. The United States tried a tech bubble and a housing bubble, but those were not sustainable answers. So I view inequality as a fundamental part of our macroeconomic weakness.
If consumers don't have the wherewithal to spend because all the money's going to the top, and the people at the top only spend a very small fraction of what they earn, then the economy is almost inevitably destined to slow.
It is impossible for the nation to develop unless states develop, the process of policy planning also has to change from 'top to bottom' to 'bottom to top
The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow’s hands.
I'm not in those top secret meetings, nor would it be appropriate - the president can't tell me what's hap - what's being said in a top secret meeting unless I have top secret clearance. I will eventually be in those meetings.
But our waste problem is not the fault only of producers. It is the fault of an economy that is wasteful from top to bottom-a symbiosis of an unlimited greed at the top and a lazy, passive, and self-indulgent consumptiveness at the bottom-and all of us are involved in it.
Speaking generally, people who are drawn to journalism are interested in what happens from the ground up less than they are from the top down.
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they load it down with debt. They make their money by lending to the bottom 95%, or the bottom 99%. When you give them more after-tax income, it enables them to buy even more control of government, even more control of election campaigns. They're not going to spend this money back into the goods-and-services economy.
If you have children, you cannot feed them forever with flags for breakfast and cartridges for lunch. You need something more substantial. Unless you educate your children and spend less money on conflicts, unless you develop your science, technology and industry, you don't have a future.
For the players, these top, top, top games or these top, top, top events - like a World Cup or a European Championship - are not common but, of course, something special.
Being on top of the world doesn't mean anything unless you know what it's like to be at the bottom.
We must renew the economy from the bottom up, not top down.
I would say that everyone that you see who is successful in the mainstream, at the top of Billboard, who has a Top 40 hit... at some point, unless they're a complete fabrication of the industry with no identity of their own and a carbon copy clone of someone else, they in themselves started out being underground.
The biggest shortage in the world is not oil or food-it's leadership. Why is it such a scarce resource? Because egos get involved. Most people in top positions think they are better than somebody else, think they need something better than somebody else. It's economic assets, it's status, it's all those other things that prevent the people at the top from subordinating themselves totally to the people they lead. It is not socialism. Leaders get paid a lot more than those they lead, they get paid for their knowledge and skill...but they are no better as a person.
We have a chance for racial solidarity because all of us, unless you`re in the top 1 percent, are really struggling in this economy.
We're living in a world that's divided into two economies: the economy of the 1%, and the economy of the bottom 99%. I guess you could be more "centrist" and say the top 10% versus the bottom 90%. But there's definitely a stratification at work here.
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