Development is about transforming the lives of people, not just transforming economies.
Joseph E. StiglitzTag: development
The budgetary cost to the UK of the wars in Iraq and Afghanistan through 2010 will total more than £18 billion. If we include the social costs the total impact will exceed £20 billion.
Joseph E. StiglitzSe necesitan políticas para un crecimiento sostenible, equitativo y democrático. Esta es la razón del desarrollo. El desarrollo no consiste en ayudar a unos pocos individuos a enriquecerse o en crear un puñado de absurdas industrias protegidas que solo benefician a la elite del país; no consiste en traer a Prada y Benetton, Ralph Lauren o Louis Vuitton para los ricos de las ciudades, abandonando a los pobres del campo de su miseria. El que se pudieran comprar bolsos de Gucci en los grandes almacenes de Moscú no significo que el país se había vuelto una economía de mercado. El desarrollo consiste en transformar las sociedades, mejorar las vidas de los pobres, permitir que todos tengan la oportunidad de salir adelante y acceder a la salud y a la educación. Este tipo de desarrollo no tendrá lugar si sólo unos pocos dictan las políticas que deberá seguir un país. Conseguir que se tomen decisiones democráticas quiere decir garantizar que un abanico de economistas, funcionarios y expertos de los países en desarrollo estén activamente involucrados en el debate. También implica una amplia participación que va bastante más allá de los expertos y los políticos. Los países en desarrollo deben tomar las riendas de su propio porvenir. Pero nosotros en occidente no podemos eludir nuestras responsabilidades
Joseph E. StiglitzCertainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them
Joseph E. StiglitzOverborrowing or overlending? Lenders encourage indebtedness because it is profitable. Developing country governments are sometimes even pressured to overborrow ... Even without corruption, it is easy to be influenced by Western businessmen and financiers ... Countries that aren't sure that borrowing is worth the rist are told how important it is to establis a credit rating: borrow even if you really don't need the money.
Joseph E. StiglitzI became convinced that the advanced industrial countries, through international organizations like the International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank, were not only not doing all that they could to help these [developing] countries but were sometimes making their life more difficult. IMF programs had clearly worsened the East Asian crisis, and the "shock therapy" they had pushed in the former Soviet Union and its satellites played an important role in the failure of the transition.
Joseph E. StiglitzThere are two visions of America a half century from now. One is of a society more divided between the haves and the have-nots, a country in which the rich live in gated communities, send their children to expensive schools, and have access to first-rate medical care. Meanwhile, the rest live in a world marked by insecurity, at best mediocre education, and in effect rationed health care―they hope and pray they don't get seriously sick. At the bottom are millions of young people alienated and without hope. I have seen that picture in many developing countries; economists have given it a name, a dual economy, two societies living side by side, but hardly knowing each other, hardly imagining what life is like for the other. Whether we will fall to the depths of some countries, where the gates grow higher and the societies split farther and farther apart, I do not know. It is, however, the nightmare towards which we are slowly marching.
Joseph E. Stiglitz...decisions were often made because of ideology and politics. As a result many wrong-headed actions were taken, ones that did not solve the problem at hand but that fit with the interests or beliefs of the people in power.
Joseph E. StiglitzTag: politics globalization
The same is true for the market economy: the power of markets is enormous, but they have no inherent moral character. We have to decide how to manage them... For all these reasons, it is plain that markets must be tamed and tempered to make sure they work to the benefit of most citizens. And that has to be done repeatedly, to ensure that they continue to do so.
Joseph E. StiglitzTag: governments markets economic-system
The protesters have called into question whether there is a real democracy. Real democracy is more than the right to vote once every two or four years. The choices have to be meaningful. But increasingly, and especially in the US, it seems that the political system is more akin to "one dollar one vote" than to "one person one vote". Rather than correcting the market failures, the political system was reinforcing them.
Joseph E. StiglitzTag: politics democracy inequality
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