What separates developing countries from developed countries is as much a gap in knowledge as a gap in resources.
Interpretation
The disparity between developing and developed nations lies in their access to knowledge and resources.
This quote by Joseph Stiglitz highlights that the divide between developing and developed countries is not only due to a lack of financial resources but also a significant difference in knowledge and education. It suggests that understanding, expertise, and the ability to innovate are critical for growth and development, and addressing these gaps is essential for improving the conditions of developing countries.
In practice
In a speech about the importance of education in economic growth.
Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor.
I don't think we can have democracies that work where most of the people are not benefiting economically, where most of the people are worried about their job security.
Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to happen in the United States, and it's not going to happen in Europe.
One of the arguments I make for the failure of the euro is that, at the time it was being constructed, there was a 'neo-liberal' ideology which said that all we need to do to make this thing work is to get deficits low, keep inflation low, and take down barriers, and then everything would be fine.
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.
We have a locale-based education system; we have increasing economic segregation. We clearly need a larger federal program to try to help disadvantaged districts.
In schools, including universities, most resources are spent to purchase the time and motivation of a limited number of people to take up predetermined problems in a ritually defined setting. The most radical alternative to school would be a network or service which gave each man the same opportunity to share his current concern with others motivated by the same concern.
What you have been taught by listening to others' words you will forget very quickly; what you have learned with your whole body you will remember for the rest of your life.
All questions of process require an answer that begins with a very important sentence, and the sentence is: 'Everybody is different.' Whatever way of working you name - methodical, haphazard, gets up early in the morning, sleeps all day, works at night, revises immensely, never revises at all - someone has made great work with that way.
The teacher is commodified, the school is a shop, the subjects are consumer goods. To read, to think, to reflect, isn't a question of want, it's a question of need.
I certainly wasn't seeking any degree, the way a college confers a status symbol upon its students. My homemade education gave me, with every additional book that I read, a little bit more sensitivity to the deafness, dumbness and blindness that was afflicting the black race in America. Not long ago, an English writer telephoned me, asking questions. One was, "What's your alma mater?" I told him, "Books.
My early childhood prepared me to be a social psychologist. I grew up in a South Bronx ghetto in a very poor family. From Sicilian origin, I was the first person in my family to complete high school, let alone go to college.
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