Joseph Stiglitz: Funds Pockets of Secrecy

Posted by admin on Wednesday, December 28, 2016

Economist Joseph Stiglitz Money Quote saying in the Overcoming the Shadow Economy report on Panama Papers, Joseph Stiglitz believes complete transparency is required worldwide financial markets. Economist Joseph Stiglitz said:
 

 

“In a globalized world, if there is any pocket of secrecy, funds will flow through that pocket” — Joseph Stiglitz

 

 

The best interpretation of the quote by Joseph E. Stiglitz is that if there is any place with lax financial regulations or secrecy, money will flow into that place, potentially for illicit activities such as money laundering or tax evasion.

This highlights the importance of global financial transparency and cooperation to prevent such activities and ensure that funds are used for the greater good.

Categories: finance Tagged:fundsjoseph stiglitzpocket