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The Price of Inequality
Cover of The Price of Inequality
The Price of Inequality
How Today's Divided Society Endangers Our Future
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A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–winning economist. The top 1 percent of Americans control some 40 percent of the nation's wealth. But...
A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–winning economist. The top 1 percent of Americans control some 40 percent of the nation's wealth. But...
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  • A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–winning economist.

    The top 1 percent of Americans control some 40 percent of the nation's wealth. But as Joseph E. Stiglitz explains in this best-selling critique of the economic status quo, this level of inequality is not inevitable. Rather, in recent years well-heeled interests have compounded their wealth by stifling true, dynamic capitalism and making America no longer the land of opportunity that it once was. They have made America the most unequal advanced industrial country while crippling growth, distorting key policy debates, and fomenting a divided society. Stiglitz not only shows how and why America's inequality is bad for our economy but also exposes the effects of inequality on our democracy and on our system of justice while examining how monetary policy, budgetary policy, and globalization have contributed to its growth. With characteristic insight, he diagnoses our weakened state while offering a vision for a more just and prosperous future.

About the Author-

  • Joseph E. Stiglitz is a Nobel Prize–winning economist and the best-selling author of Globalization and Its Discontents Revisited: Anti- Globalization in the Age of Trump, The Price of Inequality, and Freefall. He was chairman of the Council of Economic Advisers under President Clinton, chief economist of the World Bank, named by Time as one of the 100 most influential individuals in the world, and now teaches at Columbia University and is chief economist of the Roosevelt Institute.

Reviews-

  • Publisher's Weekly

    August 13, 2012
    In his concise and clearly argued newest, Stiglitz, a Nobel Prize-winning economist, outlines the economic, political, and social obstacles currently facing the U.S. and explores possibilities for how we can overcome them. Beginning with the financial collapse of 2008 and the ensuing Great Recession, Stiglitz (Globalization and Its Discontents) makes the now-ubiquitous point that "the rich were getting richer, while the rest were facing hardships that seem inconsonant with the American dream." The author opines that from this growing gap stem many other sobering social ills, such as "pollution, unemployment, and… the degradation of values to the point where everything is acceptable and no one is accountable." And while he contends that our current modus operandi is "neither stable nor sustainable," Stiglitz insists that inequality is not inherent in the system. He then goes on to lay out a plan for the long term, recommending practical changes to macroeconomic policies, taxes, labor laws, and how we navigate a globalizing world and dealing with the deficit. His visions of America's two possible futures reveals the extent of the dishearteningly large socioeconomic rift and its forecasted consequences, but Stiglitz's solutions—upheld by experience, perceptive analysis, and copious research—could very well bridge that divide, and reduce it in the process.

  • Publisher's Weekly

    September 24, 2012
    With the presidential election just weeks away, Stiglitz offers a fascinating look at the wealthiest Americans (aka the 1%) and their effect on the country at large. Paul Boehmer's narration is clear and workmanlike, but his performance suffers from slow pacing—his slow, halting way of speaking is monotonous at times—which will prevent many listeners from fully engaging with this audio edition. In later portions of the audiobook, Boehmer does pick up the pace—and this helps engage listeners more fully. The material is compelling, but it takes time for the narrator to truly hit his stride. If one is willing to tough it out through the lulls, there are plenty of economic and social lessons to be learned. A Norton hardcover.

  • Thomas B. Edsall;New York Times Book Review The single most comprehensive counterargument to both Democratic neoliberalism and Republican laissez-faire theories. While credible economists running the gamut from center right to center left describe our bleak present as the result of seemingly unstoppable developments—globalization and automation, a self-replicating establishment built on "meritocratic" competition, the debt-driven collapse of 2008—Stiglitz stands apart in his defiant rejection of such notions of inevitability. He seeks to shift the terms of the debate.
  • Kirkus Reviews An impassioned argument backed by rigorous economic analysis.

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    W. W. Norton & Company
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The Price of Inequality
The Price of Inequality
How Today's Divided Society Endangers Our Future
Joseph E. Stiglitz
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Joseph E. Stiglitz
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