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
Professor Chapingo University
The subject, inequality in the U.S., is treated in a simple, informed, and elegant way. Dr. Stiglitz is able to provide an excellent argument of the many ways in which government and businesses transfer wealth from the low and middle earners to the top ones. It defies the mainstream concepts and explains why markets do not work well. In addition, it provides useful suggestions on how to reduce the inequality. The narration by Paul Boehmer is superb.
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!)
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