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.
Like a cyclone, imperialism spins across the globe; militarism crushes peoples and sucks their blood like a vampire.
We, the people, are not free. Our democracy is but a name. We vote? What does that mean? It means we choose between Tweedledee and Tweedledum. We elect expensive masters to do our work for us, and then blame them because they work for themselves and for their class.
The true principle of a republic is that the people should choose whom they please to govern them. Representation is imperfect, in proportion as the current of popular favor is checked. The great source of free government, popular election, should be perfectly pure, and the most unbounded liberty allowed.
The Latin root of the word 'politics' means 'of the people.' Politics is about something bigger than electoral politics; in that sense, I feel like I'm already involved.
We will keep the promise of Social Security by taking the responsible steps to strengthen it - not by turning it over to Wall Street.
I say further that for this great legislative body to ignore the Constitution and the fundamental concepts of our governmental system is to act in a manner which could ultimately destroy the freedom of all American citizens, including the freedoms of the very persons whose feelings and whose liberties are the major subject of this legislation.
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