Tax policy should reflect a country's values and address its problems.
Interpretation
Tax policy should align with a nation's ethical standards and tackle societal issues.
Joseph Stiglitz emphasizes that a country's tax policy is not merely a financial tool but a reflection of its core values. It should be designed to address the challenges faced by society while promoting fairness and equity, highlighting the moral responsibility of governments to use taxation in a way that serves the common good.
In practice
During a political debate about tax reforms, one might use this quote to emphasize the moral responsibility of lawmakers.
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.
What separates developing countries from developed countries is as much a gap in knowledge as a gap in resources.
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.
Of course, there is no question that Libya - and the world - will be better off with Gaddafi out of power. I, along with many other world leaders, have embraced that goal, and will actively pursue it through non-military means. But broadening our military mission to include regime change would be a mistake.
Fascism is a worldwide disease. Its greatest threat to the United States will come after the war, either via Latin America or within the United States itself.
Nowadays you don't need to be a senator or a CEO or a celebrity to have a voice in the media, and if you happen to be a senator, a CEO or a celebrity, you have a thousand people each with their own respective audiences to hold you accountable.
I think the Democrats are going to have to be willing to give up, maybe, some short-term political gain by whipping up fears on some of these things - if it's a reasonable Social Security proposal, a reasonable Medicare proposal. We've got to deal with these things. You cannot have health care devour the economy.
For us democracy is a question of human dignity. And human dignity is political freedom.
Our 'neoconservatives' are neither new nor conservative, but old as Bablyon and evil as Hell.
Subscribe for the occasional hand-picked quote. No noise.