Making Globalization Work Quotes

“Development is about transforming the lives of people, not just transforming economies.”
― Joseph E. Stiglitz, Making Globalization Work

“Overborrowing 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. Stiglitz, Making Globalization Work

“I 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. Stiglitz, Making Globalization Work

“Globalization is the field on which some of our major societal conflicts—including those over basic values—play out. Among the most important of those conflicts is that over the role of government and markets.”
― Joseph E. Stiglitz, Making Globalization Work