American - Economist | February 9, 1943 -
Too many countries of the former Soviet bloc remain under the control of authoritarian leaders, including some, like the Russian president, Vladimir Putin, who have learned how to maintain a more convincing facade of elections than their communist predecessors.
Joseph Stiglitz
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Trump sees the world in terms of a zero-sum game. In reality, globalisation, if well managed, is a positive-sum force: America gains if its friends and allies - whether Australia, the E.U., or Mexico - are stronger. But Trump's approach threatens to turn it into a negative-sum game: America will lose, too.
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The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation.
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A lot of my book, 'The Price of Inequality,' is about why there has been an increase in rent-seeking.
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Having excessive power in the hands of one country meant the fate of the world was too dependent on what happened in that one country.
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For Obama, the Trans-Pacific Partnership agreement - unilaterally abrogated by Trump - was part of the 'pivot to Asia,' a re-assertion of the role of America in that part of the world.
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The Clinton years were not an economic Nirvana; as chairman of the president's Council of Economic Advisers during part of this time, I'm all too aware of mistakes and lost opportunities.
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Behind Trump's promise to 'make America great again' lie many fallacies. The most important fallacy is that America's place in the world can be restored to the one it occupied after World War II, when Europe was still recovering from vast devastation and most developing countries were still European colonies. It can't be.
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China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway.
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Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis.
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Trump has been criticized by mainstream Republicans for not really being one of them. But he is definitely one of them when it comes to the central palliative for any ill befalling the country: a tax cut for the rich.
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The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.
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