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.”

Joseph E. Stiglitz

Wealth , Production , Taxation , Society , Economics , Monopoly

---

Ratings and Comments

• Reply

Mary, MI    1/3/22

• Reply

Mike, Norwalk    1/3/22

• 1
• Reply

Fredrick William Sillik, Anytown    9/15/22

The Socialist approach is the only creation of wealth, all other notions are criminal because they a mad violent scramble for the available resources.

• Reply

Mike, Norwalk Fredrick William Sillik, Anytown 9/15/22

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.

SaveOk2

SaveOk2

View CommentsClick to view or comment.