Book Review: The Price of Inequality: How Today’s Divided Society Endangers Our Future by Joseph E. Stiglitz | Stephen Diagram

The Price of Inequality: How Today’s Divided Society Endangers Our Future by Joseph E. Stiglitz

“Favoritism for the rich and justice for those who can afford it.”

BUY The Price of Inequality: How Today’s Divided Society Endangers Our Future


  1. America’s inequality is a result of taking wealth from others; not creating new wealth
  2. Inequalities in wealth are greater than inequalities in income
  3. Market forces are a result of government policy; the government can move money
  4. Marginal Productivity Theory: more productive workers get better pay because they better contribute to society

  1. Inequality is a result of political and economic forces
  2. “Rent Seeking” income is a reward for holding large shares of wealth; not creating wealth
  3. “Rent Seeking” comes from government subsidies. Laws that decrease competition, enable relaxed regulations
  4. The Estate tax and restrictions on campaign contributions would help increase market competition

  1. A free and competitive market is beneficial to society if government regulations and oversight are put in place
  2. The media and congress are unaware of how heavily they are influenced by money
  3. Inequality is the sand in the gears of capitalism, creating volatiltiy, fueling crisis and slowing growrth
  4. Inequality leas to inadequate schooling, housing and neighborhood conditions

  1. Discrimination within the american peope shows a nations failure to make the best of its citizens
  2. Lack of opportunity means that a nations most valuale asset; its people, are not being fully used
  3. The rich fear a strong government might redistribute their wealth
  4. Reducing government spending makes the government unable to invest in infrastructure.

“Favoritism for the rich and justice for those who can afford it.”

  1. The recent housing market crisis shows that the big banks believe they are too big to fail. They believe they do not need to be held accountable.

“Power tends to corrupt, and absolute power corrupts absolutely.”

The 2008 Great recession led to an increase in unemployment, less unemployment benefits, less health insurance and less retire benefits.

Central Banks should not be independent, should not be free from regulation and should not be free from oversight.

BUY The Price of Inequality: How Today’s Divided Society Endangers Our Future

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