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
This is a critical analysis of the problems with our nation's economy and government, showing how both the free market and the government controls are failing the Vast majority of Americans (and because of globalization, many in other countries). Its conclusions are probably only obvious to US liberals, but as one I got a lot of great sources of studies to support that position.
It is biased, of course, but he also points out a lot that I think the Right would agree with - that rent seeking behavior, and policies that support it, are huge burdens on our economy. The conclusion of the need for eliminating rent seeking by taxation on those practices and closing loopholes in our tax code is probably not universal, but it's sound and he supports it well. Maybe audiobooks omit citations because of narrative flow, but I would have liked more links to specific studies.
Just a proud daddy of the most beautiful girl in the world
Always leaned center right but Damn this is a mess we must fix both parties should be ashamed
An educator and senior who listens to his books from his phone through his hearing aids.
The Price of Inequality by Nobel Prize winner, Joseph E. Stiglitz is by far the best book on Economics that I have read. His arguments will not be embraced by the free market advocates, but to those with an open mind and some social conscience his explanations of the issues at play in our country will resonate. His illustration of how the very rich are able to use many rent seeking devices to redirect wealth to themselves is very clear and hard to refute. His speculation of where the American economy is heading is alarming. I think his book ought to be mandatory reading for all undergraduate economics students.
While I support the overall view of the book, I found the absolutes and many examples of stretching the facts disappointing. There are enough facts to make the case for closing the economic gaps that create inequality and you will find those in this book. However, the simple facts must not have dramatic enough for Stiglitz. This book will fan the flames of the far right and give them more reasons to do the same with their own slanted interpretations of facts and partial truths. It certainly will not help them understand and is not likely to move a person in the center to agree. It will simply cause those of a common attitude to dig in deeper thus further preventing us from reaching resolution.
The performance of the reader is great, it's the actual content that ruins it for me. I understand why he writes what he does, and am ok with what he believes but there is nothing new or exciting in his ideas or explanations
Realize that the problem is the Human condition, all of his "solutions" ignore this fact, I feel as if he has a very naive and unrealistic view of people. He assumes that people wont take advantage of every situation they can. I believe there is a very small portion of the population that is altruistic, but the true 99% are the amount of people who will look after themselves 1st and foremost.
Yes, I enjoy the diversity of his thinking from mine, and find that I agree with most every problem he conveys, I just disagree with almost all of his solutions.
The title says it all. The author presents well reasoned, well documented arguments about how the average citizen is losing out to special interests.
The roots of the hyperpartisanism were clearly explained - at least this authors hypothesis. What was really interesting are the games that politicians play to get what THEY want and there are times that what they want is not in alignment with what is best for their constituents.
I was of the belief that the present lack of bipartisan cooperation was due to Obama being an African American (and I do believe that plays a big part especially in the minds of some very vocal voters) but I have come to realize that there are bigger issues at play.
As the author states, the ideas and data are presented in ways so as to allow readers of all levels of economic understanding to enjoy and gain from this book.
Paul does a fantastic job reading the book. He is quite enjoyable to listen to.
The author presents data, and also presents suggestions. The idea that the author wants to raise taxes to 70% is absurd. He simply states that some economists have said that mathematically that would be a realistic amount and that at that percentage, the top earners would still do fine. Contrary to what some reviews on here have said, he is not suggesting actually doing that.
What the author does suggest is that, while the government isn't perfect (people are fallible) and corporations are not perfect (the market is entirely fallible), minor adjustments are needed in a civilized society to make sure the market behaves properly and functions for the good of more, not less people. This idea is not radicle. This idea is also not unproven.
The key to the authors suggestions are just that, MINOR adjustments. Nothing radical at all about that. And nothing that ordinary, logical people could not agree with.
The author shows, that if you are voting for people who pretend to care about you so they can keep more of what they earn (and trickle down to you as if more supply will equal more demand) you are doing so at great cost to yourself, your society, and your country.
I think it is easier to listen but the print or Kindle (which I have) version helps with tables, charts, and statistics provided in the text. In order to recall it later I find that it helps to read as well as hear that type of material. Also, the book contained detailed footnotes and references. By having the print version, I was able to look up reference materials and read it myself.
This is nonfiction but there is nonetheless a story line tracing the development of inequality over the 20th Century. The most important message is that inequality hurts everyone including those at the top and that a certain amount of income and wealth leveling is good for everyone.
A frightening book.
Stiglitz paints a very compelling picture of American economic inequality and its consequences for America and the world. In its descriptions of area after area of the Economy, it functions as both an explanation and a warning that American Capitalism as it is practiced today is incompatible with anyone's model of fairness, reason or simple decency. His description of "rent-seeking" (the process by which companies and individuals seek forms of subsidy to make money faster and with less effort), is clear, compelling and almost painful.
Stiglitz and Boehmer make you understand this, and once you do, you understand the fundamental problem with American economic policy and why it is that YOU as an American have bailed out the richest slice of American Economic actors (who make money by *breathing*) but not the poor people who were the victims of unscrupulous lending policies made in the name of those at the top and who are even now being evicted from homes.It is a great book that is clear and current and one that will make you angry.
Paul Boehmer's vocal timbre and reading clarity make the writings of a world-class economist more easily accessible.
In most reviews, the usual approach is to say, "blah, this and that were good" or "blah, this and that could have been improved." With Stiglitz and Boehmer, the only thing to say is: "I recommend this and I think you should hear it."If you read it, you will understand and despise, Mitt Romney.
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