Joseph Stiglitz explains how inequality hurts the US economy


Stiglitz insists that increasing inequality in the United States comes from a breakdown of the political and economic systems. Failure to hold any banker accountable for actions that contributed to the recent economic crisis is a prime cause. The current level of inequality increases instability, reduces productivity, and undermines democracy. He shows that the consequences include a monopolistic redistribution powerful enough to have caused massive distortions in the U.S. [...]

How does economic inequality affect your health?


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Inequality and Health

How does inequality and health relate? Increasing evidence from scientists the world over indicates that many health outcomes — everything from life expectancy to infant mortality and obesity — can be linked to the level of economic inequality within a given population. Greater economic inequality appears to lead to worse health outcomes.

By greater inequality, epidemiologists — the scientists [...]

Where do you stand? Is this system fair?


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Wealth Inequality

Wealth inequality can be described as the unequal distribution of assets within a population. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation.

Defining Wealth

We equate wealth with “net worth,” the sum total of your assets minus your liabilities.

Examples of assets: checking and savings accounts, vehicles, a home that [...]

Joseph E. Stiglitz | The Price of Inequality


By Joseph E Stiglitz, Project Syndicate | News Analysis

In Joseph E. Stiglitz’s new book, ”The Price of Inequality: How Today’s Divided Society Endangers Our Future,” the Nobel Prize-winning economist argues that there is a price to be paid for economic inequality. 

New York – America likes to think of itself as a land of opportunity, and others view it in much the same light. But, while [...]

Should we Reduce Economic Inequality or the Absolute Poverty Level?


American society should reduce inequality if it had the choice. There are several reasons why American society should reduce inequality rather than reducing the absolute level of poverty. Firstly, the number of people in poverty has been correlated with the level of inequality in the U.S. for the last 50 years, which suggests that reducing inequality may in itself reduce the level of poverty. Secondly, it it is [...]

The New Inequality Is Wealth, Not Income

Director of the Asset Building Program, New America Foundation 


Even before the Great Recession hit, a number of researchers and academics were sharing observations on the divergent paths of those in the middle and on the bottom compared to those at the top and very top. Median wages have been relatively stagnant, and, more importantly, had become divorced from productivity gains. [...]

Inequality = Unhealthy Economy


Why Economic Inequality is Not Good for the Economy


The nineteenth and twentieth centuries saw multiple discourses on the relationship between concepts of ‘truth’ and power—social, political and economic. The ‘view from nowhere,’ the rhetorical device of science and economics used to claim that truth exists in ‘the world’ outside of social relations has faced challenges from Marxian materialists, phenomenologists, cultural anthropologists and post-modern deconstructionists. It persists [...]

Occupation: Coming to a City Near You?


By Mary Bottari || The Occupation Is On The Move, Find a Big Bank Protest Near You ||

October 24, 2011 “PRWatch” – U.S. Senator Paul Wellstone used to say “sometimes you have to pick a fight to win one.”

Now Occupy Wall Street has picked one, right in Jamie Dimon’s backyard.

October 4th, 2011 | Leave a comment

The American Jobs Depression, and How To Get Out of It


By Robert Reich ||

The Reverend Al Sharpton and various labor unions have announced a March for Jobs. But I’m afraid we’ll need more than marches to get jobs back.

Since the start of the Great Recession at the end of 2007, America’s potential labor force – that is, working-age people who want jobs – has grown by over 7 million. But since then, the number [...]

Class Warfare: Bring It On!


By Richard Reeves ||

LOS ANGELES—President Obama came out here last Tuesday to proclaim himself a “warrior for the middle class.” Would that it were true.

In a similar situation to what we have today—that is the rich get richer and the poor (and middle class) get poorer—President Franklin Roosevelt said of what used to be called plutocrats: “I welcome their hatred.”

I’m not sure that Obama, the rationalist [...]