Joseph Stiglitz

There’s a pretty healthy tradition in the U.S. of socializing debt and privatizing gain. I don’t think it’s worked out very well.

Mark McCord

From a policy standpoint, many countries continue to focus on privatization, liberalization, deregulation and modernization as growth strategies. Unfortunately, according to Jean-Eric Aubert of the World Bank Institute, these policies typically do not yield the expected fruits due to their lack of sustainability, because they often fail to take into account emerging opportunities. For instance, the privatization of aging factories does little to enhance economic … [ Read more ]

John Adams

The way to improve society and reform the world is to enlighten [people], spread knowledge, and convince the multitude that they have, or may have, sense, knowledge and virtue. Declamations against the cunning of politicians and the ignorance, folly, inconstancy, or effrontery of the multitude will never do.

Bart van Ark

An economy doesn’t operate by market forces alone—it’s dependent on actions of business and consumers and government. There is a clear role for government in creating an environment in which business gets new opportunities. Yes, government should get out of spaces where it doesn’t have to be and let business do its thing. But government needs to be where there are so-called external effects, which … [ Read more ]

Milton Friedman

A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.

James Wolfensohn

I don’t know whether to call it hypocritical or a crime or simply being blind, but the one thing I’m certain of is that the developed countries must open up their markets. It makes no logical sense to try and help developing countries develop their productive capacity and then deny them access to markets. It makes no sense to spend $300 billion a year on … [ Read more ]

John Kenneth Galbraith

The surest flow of expenditure to sustain the economy, wherever it is, is that of the middle-class and below. When it has money, it spends. And there’s no similar assurance on more income for the affluent – that may be saved or squirreled away… there’s no similar certainty of support to the economy. And the basic thrust of the corporate elite is to pay money … [ Read more ]

Kenichi Ohmae

I do not believe China should be forced to hold democratic elections, even if that were possible. Its population would vote for leaders who distribute wealth to the poor. But there are still 900 million farmers in China with an average annual income of $500; distribution of wealth would simply be a synonym, as it is in India, for the distribution of poverty.

The Western … [ Read more ]

John Maynard Keynes

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist [or] … academic scribbler of a few years back.

Abba Eban (Israeli statesman)

Men and nations behave wisely, once they’ve exhausted all other alternatives.