A Quote by Joseph Stiglitz
High levels of economic inequality lead to imbalances in political power, as those at the top use their economic weight to shape our politics in ways that give them more economic power.
Quote Topics
Quote Author
Related Quotes
Viewed as a means to the end of political freedom, economic arrangements are important because of their effect on the concentration or dispersion of power. The kind of economic organization that provides economic freedom directly, namely, competitive capitalism, also promotes political freedom because it separates economic power from political power and in this way enables the one to offset the other
Our work has only begun. In our time we have an historic opportunity to shape a global balance of power that favors freedom and that will therefore deepen and extend the peace. And I use the word power broadly, because even more important than military and indeed economic power is the power of ideas, the power of compassion, and the power of hope.
The political objective of universal capitalism is maximum individual autonomy, the separation of political power wielded by the holders of public office from economic power held by citizens, and the broad diffusion of privately owned economic power.
The ability of the 1 percent to buy politicians and regulators is nothing new in American politics - just as inequality has been a permanent part of our economic system. This is true of virtually all political and economic systems.
It is economic power that determines political power, and governments become the political functionaries of economic power.
Economic progress means the discovery and application of better ways of doing things to satisfy our wants. The piping of water to a household that previously dragged it from a well, the growing of two blades of grass where one grew before, the development of a power loom that enables one man to weave ten times as much as he could before, the use of steam power and electric power instead of horse or human power - all these things clearly represent economic progress.
We in America were worried about many problems dealing with economic inequality and political inequality. The Communist Party seemed to be the only political force, both concerned and willing, to take action to stop the threat of fascism abroad and to work for economic and political reform in this country.
I use the word power broadly. Even more important than military and economic power is the power of ideas, the power of compassion, and the power of hope.
The illegitimate use of a state by economic interests for their own ends is based upon a preexisting illegitimate power of the state to enrich some persons at the expense of others. Eliminate that illegitimate power of giving differential economic benefits and you eliminate or drastically restrict the motive for wanting political influence.
That's not to say they [Bill and Hillary Clinton] intend to be corrupt, but I think they're way too cozy with the economic elite, and we know that our political system exemplifies the power of the economic elite.
We have power... Our power isn’t in a political system, or a religious system, or in an economic system, or in a military system; these are authoritarian systems... they have power... but it’s not reality. The power of our intelligence, individually or collectively IS the power; this is the power that any industrial ruling class truly fears: clear coherent human beings.
The cornerstones of this country's operation are economic and political strength and power. The black man doesn't have the economic strength - and it will take time for him to build it. But right now the American black man has the political strength and power to change his destiny overnight.
If China stood on an equal basis with other nations, she could compete freely with them in the economic field and be able to hold her own without failure. But as soon as foreign nations use political power as a shield for their economic designs, then China is at a loss how to resist or to compete successfully with them.
The first principle of economic symmetry: building the economic power to consume simultaneously with the industrial power to produce.
Our economic system has enabled companies and individuals to use their power and influence to capture and retain an ever-increasing share of the benefits of economic growth while the benefits for the poorest in society have shrunk.
The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groups.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Craig Roberts Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist