The Price of Inequality
How Today's Divided Society Endangers Our Future
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.
Praise For The Price of Inequality: How Today's Divided Society Endangers Our Future…
— Thomas B. Edsall - New York Times Book Review
Stiglitz writes clearly and provocatively. He’s the kind of economist who can talk about terms such as 'rent-seeking' and the 'euro crisis' and bring readers along for the ride... Stiglitz isn’t just writing about people being hurt by inequality, he is also writing about the system itself being in jeopardy and what needs to be done to fix it.
— Dante Chinni - Washington Post
Concise and clearly argued.
— Publishers Weekly
An impassioned argument backed by rigorous economic analysis.
— Kirkus Reviews
An important and smart new book... It’s a searing read.
— Nicholas Kristof - New York Times
W. W. Norton & Company, 9780393088694, 448pp.
Publication Date: June 11, 2012