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. [...]
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 [...]
Nobel Prize-winning economist Joseph Stiglitz was Amy Goodman’s timely guest on “Democracy Now!” on Thursday, giving his much-needed perspective on the proposed 2012 budget and his must-read Vanity Fair article, “Of the 1%, by the 1%, for the 1%.”