Wonderful, and very accessible, look into the mechanisms behind the stagnant socio-economic mobility that is plaguing most Americans. Stiglitz offers a very coherent and easy to understand account of the growing gap in equality in America and the ramifications of this phenomenon. Especially poignant are his assertions that the dominant theories surrounding economic stability are, in fact, aiding in our economic instability. The policies and practices that are currently deleterious to so many, yet benefiting a very small minority, are eventually going to prove to also be harmful to those who are manipulating the system to their advantage. The shrinking middle class, the ballooning chasm between the rich and the poor, the lack of social capital all point to a diminishing of our democratic ideals and a slip into something more like an economic oligarchy - a theory that has recently been explored and elucidated in detail by political scientists. The Price Of Inequality is ultimately the loss of the American Dream. A very approachable, relatively quick, and comprehensive must-read for anyone who has been puzzling over the reasons why the American maxim of equal opportunity seems to be getting further and further out of reach. This book frames the US economy as the product of the interactions of several players: the 99%, the 1%, Corporations, Government, including the Federal Central Bank, and the Finance sector including Banks (including bankers). Progressives seem to see the government as the 99%'s only hope. Republicans believe that government somehow prevents the 99% from enjoying the fruits of the largesse of the 1%, the Corporations and the Financial sector. Stiglitz is an unapologetic progressive and lays out a convincing argument which can be summarized so: We have it in our hands to change our country so it works for us--Government can and should work for the good of the 99% because only when the 99% see life as fair will our country truly meet its potential again. I enjoyed the book but thought it about 50 pages too long. Some of the annotations to footnotes collected at the back of the book drove me slightly batty--once, in chapter 7, the annotation took me to the back of the book and then referred me to chapter 3-- the whole chapter! Definitely worth reading though and I must say joseph E. Stiglitz is a national treasure.
What do You think about The Price Of Inequality (2013)?
This book should be required reading for all college students.
—tab
Wow. Changed the way I look at the whole 1% agenda.
—Cecil41
