“One of the things that happens when you have austerity is that wages g...” — Joseph Stiglitz Quote

“One of the things that happens when you have austerity is that wages get lower, and some people think lower wages in the short run can increase corporate profits.”

“Letting bygones be bygones is a basic principle in economics.”

“To maximise global social welfare, policymakers should strongly encourage the diffusion of knowledge from developed to developing countries.”

“Italians have always had a high savings rate. They love putting their money into their own government bonds - even more than in houses, stocks and gold. The higher rates climb, the happier they are to invest. So if austerity plans drive rates up, it's music to Italian ears.”

“As austerity has drained the blood from public services, preventive services have been the first to suffer.”

“Europe's younger generation has only experienced austerity.”