A Quote by Joseph Stiglitz
International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.
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Separating out banks and investment banks right now under Glass-Steagall would have very big implications to the liquidity and the capital markets and banks being able to perform necessary lending.
Too many politicians seem to reach for 'infrastructure' as the default answer to investment, as if roads and bridges were the answer to everything. Even the IMF and the World Bank seem to mainly offer infrastructure spending as an alternative to austerity, although they are right to focus on the need for investment.
I think the critical point, really, is that we need to focus black economic empowerment more on the creation of new wealth rather than on these big deals that have been characteristic of this process in the past, of people going to banks, borrowing a lot of money, buying this and when the shares don't perform very well, the shares go back to the banks, because there's other people who own this anyway. I think we need to re-focus it so that it really does impact on growth, new investment, new employment and a general, better spread of wealth in South Africa.
Investment in infrastructure enables children to go to school. Investment in vital public services like health and education gives young people the opportunity to shape their own futures and reach their potential.
Considering community support and cost-benefit analysis, I have supported earmarks for projects of high public purpose involving such areas as higher education, alternative energy, transportation, medical research and military infrastructure.
We will primarily focus on affordable housing, water supply and transport infrastructure, as these are critical for Mumbai. Infrastructure deficit is an issue in all urban areas.
Republican leaders have made clear they have no plans to use the power of government to stimulate the economy, invest in job creation and spur job growth. The Fed's plan is to give banks more money to finance the private sector job creation. But banks have ample cash now; they aren't lending, and the private sector is not creating the jobs. That is why we have 15 million people unemployed.
Some infrastructure projects clearly require massive, coordinated investment - interstate highways or a new trans-Hudson tunnel, for instance. Others don't have to. We should be unafraid of pilot projects and learning.
On the Glass-Steagall thing, like I said, if you could demonstrate to me that it was a mistake, I'd be glad to look at the evidence. But I can't blame [the Republicans]. This wasn't something they forced me into. I really believed that given the level of oversight of banks and their ability to have more patient capital, if you made it possible for [banks] to go into the investment banking business as continental European investment banks could always do, that it might give us a more stable source of long-term investment.
Capital market liberalization includes freeing up deposit and lending rates, opening up the market to foreign banks, and removing restrictions on capital account transactions and bank lending. The focus is on deregulation, not on finding the right regulatory structure.
We need investment in green economy infrastructure; public services, training and education; and a multilateral plan to create youth job opportunities.
The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending.
I do believe that India needs a lot more foreign direct investment than we've got, and we should have the ambition to move in the same league many other countries in our neighborhood are moving. We may not be able to reach where the Chinese are today, but there is no reason why we should not think big about the role of foreign direct investment, particularly in the areas relating to infrastructure, where our needs for investment are very large. We need new initiatives, management skills, and I do believe that direct foreign investment can play a very important role.
If history judges society for how it treats those in need, so markets judge economies by the incentives they provide for private investment, the infrastructure that supports growth, and the burdens placed on job creation.
We need a comprehensive focus on infrastructure that supports not just transportation but also broadband, education, healthcare, and our environment.
Mr. Trump wants to turn the U.S. economy into the kind of real estate development that has made him so rich in New York. It will make his fellow developers rich, and it will make the banks that finance this infrastructure rich, but the people are going to have to pay for it in a much higher cost for transportation, much higher cost for all the infrastructure that he’s proposing. You could call Trump's plan "public investment to create private profit". That's really his plan in a summary.
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