The Price of Inequality: How Today's Divided Society Endangers Our Future Kindle Edition

A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–winning economist.The top 1 percent of Americans control 40 percent of the nation’s wealth. And, as Joseph E. Stiglitz explains, while those at the top enjoy the best health care, education, and benefits of wealth, they fail to realize that “their fate is bound up with how the other 99 percent live.” Stiglitz draws on his deep understanding of economics to show that growing inequality is not inevitable: moneyed interests compound their wealth by stifling true, dynamic capitalism. They have made America the most unequal advanced industrial country while crippling growth, trampling on the rule of law, and undermining democracy. The result: a divided society that cannot tackle its most pressing problems. With characteristic insight, Stiglitz examines our current state, then teases out its implications for democracy, for monetary and budgetary policy, and for globalization. He closes with a plan for a more just and prosperous future. This work examines how the wealthy classes have contributed to growing inequality in society and explains how the quest to increase wealth has hindered the country's economic growth as well as its efforts to solve its most pressing economic problems. In it the author, a Nobel Prize-winning economist puts forth a forceful argument against America's vicious circle of growing inequality. America currently has the most inequality, and the least equality of opportunity, among the advanced countries. While market forces play a role in this stark picture, politics has shaped those market forces. Here the author exposes the efforts of well-heeled interests to compound their wealth in ways that have stifled true, dynamic capitalism. Along the way he examines the effect of inequality on our economy, our democracy, and our system of justice. He explains how inequality affects and is affected by every aspect of national policy, and offers a vision for a more just and prosperous future, supported by a concrete program to achieve that vision Examines How The Wealthy Classes Have Contributed To Growing Inequality In Society And Explains How The Quest To Increase Wealth Has Hindered The Country's Economic Growth As Well As Its Efforts To Solve Its Most Pressing Economic Problems. Ch.1 America's 1 (one) Percent Problem -- Ch.2 Rent Seeking And The Making Of An Unequal Society -- Ch.3 Markets And Inequality -- Ch.4 Why It Matters -- Ch.5 A Democracy In Peril -- Ch.6 1984 Is Upon Us -- Ch.7 Justice For All? How Inequality Is Eroding The Rule Of Law -- Ch.8 The Battle Of The Budget -- Ch.9 A Macroeconomic Policy And A Central Bank By And For The 1 (one) Percent -- Ch.10 The Way Forward: Antoher World Is Possible. Joseph E. Stiglitz. Includes Bibliographical References And Index.