Joseph E. Stiglitz Quote

"To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others. The former adds to society. The latter typically subtracts from it, for in the process of taking it away, wealth gets destroyed. A monopolist who overcharges for his product takes money from those whom he is overcharging and at the same time destroys value. To get his monopoly price, he has to restrict production."

by:	Joseph E. Stiglitz (1943-) American economist, public policy analyst, professor
Source:	The Price of Inequality (2012)
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Categories:	Wealth, Production, Taxation, Society, Economics, Monopoly
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-- Mary, MI
-- Mike, Norwalk
The Socialist approach is the only creation of wealth, all other notions are criminal because they a mad violent scramble for the available resources.  -- Fredrick William Sillik, Anytown      1
The socialist approach is enslave the masses, criminally take away a diminished wealth under threat of violence — or worse (by example, the 2nd plank of the communist manifesto) and then lie about all the illicit exploits.  -- Mike, Norwalk

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