The Price of Inequality

How Today's Divided Society Endangers Our Future

By: Joseph E. Stiglitz

Narrated by: Paul Boehmer

Length: 13 hrs and 4 mins

Publisher's summary

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.

©2012 Joseph E. Stiglitz (P)2012 Tantor

Like going to school

Would you recommend this audiobook to a friend? If so, why?

I have already done so, via social media. I think that everyone should read/hear this work. Those who do not know history being doomed to repeat it, as they say.

What was the most compelling aspect of this narrative?

We were listening to the book as we drove through a lot of abject poverty situations and huge tracts of GMO corn and soybeans. It was disturbing, to say the least.

Was there a moment in the book that particularly moved you?

When I wondered whether we are all doomed.

Paul Ryan Should Read This Book

If you could sum up The Price of Inequality in three words, what would they be?

Sobering
Fact-filled
Well-argued

Who was your favorite character and why?

Not applicable. This is a non-fiction book by a Nobel prize-winning economist and former chairman of the Council of Economic Advisers in the Clinton administration.

What do you think the narrator could have done better?

N.A.

If you could give The Price of Inequality a new subtitle, what would it be?

If you are already depressed about the state of the American economy and American society, this book isn't going to make you feel any better.

Great Narration, Great book, even better writer

Stieglitz is one of my favorite writers/economists. His intentional simplicity often cuts through the seemingly deep economical concepts and explains the world in the most basic way possible without losing sight of the overarching point that he's trying to make. Narration was good too!

Wow a real eye opener

Always leaned center right but Damn this is a mess we must fix both parties should be ashamed

The Price of Equality

Outrageously important and enlightening! This is a critical analysis of America's unequal economic and political structures.

Too dense for an audiobook

This book remains a very important analysis of the economic malfeasance of the US banking sector and the failure of oversight by government. It is tough going because Stiglitz is writing for an informed audience and expects his readers to keep up. He comes across as partisan but doles out equal blame onto the Reagan, Clinton, Bush, and Obama administrations -- the last one for its utter failure in the banks bail-out in 2008. He is equally critical of the Federal Reserve with its preference for large corporate and financial institutions rather than people.
Everyone should read this, and Americans should vote Sanders as the best chance of getting any of it implemented.

Well researched . . . well presented

I never studied economics - and was not aware of most of the content of this book. It is "heavy" and important to be aware . . . especially in this election year!! Heads up - Americans - "read" this and go to the polls!!! (and make sure your friends do too!)

One side is never enough....

There is a fundamental question about inequality this book fails to address. How much inequality is the right amount? Clearly some inequality is both unavoidable and necessary for innovation. This book seems to take the position that the amount of inequality we have now is way too much, but does not propose a goal equality level. I agree that inequality is a bit high, and is getting higher as corporations and the very rich are no longer paying a fair share mostly using loopholes. Nevertheless, I find many of the author’s proposed solutions way over the crazy line. Extending unemployment payments for long periods (do you know people holding off getting a job just in case unemployment is extended again; I do), increasing federal taxes on families earning more than $270K to 70% (history shows this will not work). Stopping investments in productivity (the author phrased it as not investing in labor saving instead invest only in resource saving). Matching the savings of the poor (such policies would be played and end up counter-productive).

It seems the author thinks poor people who were “exploited” by being given homes and a mortgages for which they should never have qualified should now get their mortgages restructured into something they can afford.

The author rages against monopoly powers and do nothing exploiters like Steve Jobs. I found these arguments very poorly supported.

My favorite line was if we follow the author’s recommendations “many more people will have a shot of one day being in the 1%”. Of course, the top 1% will always be 1%. So to increase the 1% we would need to do a 15 minutes of richness kind of deal. The author also mentions education and legal reform without stating any real proposals.

I did agree with the author on a few things. I am also a strong supporter of the estate tax (I think it should be called the slutty heiress tax, not a death tax) and I strongly agree that existing tax loopholes, earmarks, and pork are out of control and related to unsustainable growth in inequality. I never like one sided books that use one side of statistics to make a point (especially when they are making a point I agree with)!

Good explanation

Explains difference between the Chicago School and his evaluation. Very valuable. It is a good read.

Great Book!

What made the experience of listening to The Price of Inequality the most enjoyable?

A thorough and thoughtful analysis of the social and economic forces shaping the plight of millions. Engaging, informative and relevant.

What do you think the narrator could have done better?

Unfortunately, the narrator reads as if standing in front of economically ignorant highschool freshmen. How about trying to read to adults for a change!