# Quote — Joseph E. Stiglitz, Making Globalization Work

> The IMF has been encouraging, sometimes even forcing (as condition of assistance), countries to have their central banks focus only on inflation. Europe succumbed to these doctrines. Today, throughout Euroland, there is unhappiness as the European Central Bank pursues a monetary policy that, while it may do wonders for bond markets by keeping inflation low and bond prices high, has left Europe's growth and employment in shambles.

- Author: [Joseph E. Stiglitz](https://www.leafyquotes.com/joseph-e-stiglitz.md)
- Book: [Making Globalization Work](https://www.leafyquotes.com/joseph-e-stiglitz/making-globalization-work.md)
- Page: 280
- Source: [Wikiquote](https://en.wikiquote.org/wiki/Joseph_Stiglitz#Making_globalization_work_(2006)) ([CC BY-SA 4.0](https://creativecommons.org/licenses/by-sa/4.0/))
- Quote page: https://www.leafyquotes.com/joseph-e-stiglitz/making-globalization-work/the-imf-has

## More from this book

> Limited liability should not be sacrosanct. Like property rights—including intellectual property—it is a creation of man, to provide appropriate incentives; when that artifice fails to fulfill its social function, it needs to be modified.

p. 207 — [Quote page](https://www.leafyquotes.com/joseph-e-stiglitz/making-globalization-work/limited-liability-should.md)

> The era of multilateral trade liberalization seems to be nearing an end (at least for a while), as well-founded disillusionment in the developing countries combines with growing protectionist sentiment in the developed world.

p. 81 — [Quote page](https://www.leafyquotes.com/joseph-e-stiglitz/making-globalization-work/the-era-of-multilateral.md)

> When I was at the World Bank, it would often be said in the face of obvious failure that our strategy was correct, it just wasn't implemented well.

p. 52 — [Quote page](https://www.leafyquotes.com/joseph-e-stiglitz/making-globalization-work/when-i-was.md)