A Quote by Joseph Stiglitz
My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth.
Related Quotes
Under Obama, income growth has been confined almost entirely to those at the top of the income distribution, continuing a pattern that began under President George W. Bush.
Two-factor economics makes it clear that our economic problem is not what one-factor (labor-centric) thinkers assert: an inequitable distribution of income. It is an inequitable distribution of productive power, from which an unworkable distribution of income results.
The climate change problem is at its heart an ethical problem. It's a problem of income distribution and it's a problem of income distribution with dimensions that we don't usually think about very much.
Does inequality in the distribution of income increase or decrease in the course of a country's economic growth?
Growth is a substitute for equality of income. So long as there is growth there is hope, and that makes large income differentials tolerable.
I don't see basic income as a panacea, but we must have a new income distribution system. The old one has broken down irretrievably.
Despite a voluminous and often fervent literature on "income distribution," the cold fact is that most income is not distributed: It is earned.
The liberal fiscal spending of the 2004-08 period was made possible both by rising government revenues and national income growth and by relative comfort on the external side. After 2009,these pillars of growth began to wobble. By 2012, they were shaking.
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.
The real scientific study of the distribution of wealth has, we must confess, scarcely begun. The conventional academic study of the so-called theory of distribution into rent, interest, wages, and profits is only remotely related to the subject. This subject, the causes and cures for the actual distribution of capital and income among real persons, is one of the many now in need of our best efforts as scientific students of society.
In the old 20th-century income distribution system, the shares of income going to capital, mainly in profits, and labor, in wages and non-wage benefits, were roughly stable. But that system is no more.
Trade is good for the economy. Trade creates growth. The problem is that it creates growth but it does not think about distribution of the benefits of that growth.
Income tax in particular in the United States is concentrated on the top half of the income distribution, and very heavily skewed towards the top 10 or even top 1 percent.
In socialism, private property is anathema, and equal distribution of income the first consideration. In capitalism, private property is cardinal, and distribution left to ensue from the play of free contract and selfish interest on that basis, no matter what anomalies it may present.
Cities that tend of have better schools for middle-income families, they tend to have much better prospects for kids moving up in the income distribution.
A premise of the new city is that we want a society to be as egalitarian as possible. For this purpose, quality-of-life distribution is more important than income distribution. [And quality of life includes] a living environment as free of motor vehicles as possible.
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