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The price of inequality /
Joseph E. Stiglitz.
New York : W. W. Norton & Company, 2013.
lxiv, 523 pages ; 21 cm
0393345068 (pbk.), 9780393345063 (pbk.)
More Details
New York : W. W. Norton & Company, 2013.
0393345068 (pbk.)
9780393345063 (pbk.)
contents note
America's 1 percent problem -- Rent seeking and the making of an unequal society -- Markets and inequality -- Why it matters -- A democracy in peril -- 1984 is upon us -- Justice for all? How inequality is eroding the Rule of Law -- The battle of the budget -- A macroeconomic policy and a central bank by and for the 1 percent -- The way forward : another world is possible.
general note
"First published as a Norton paperback."--Verso of title page.
Originally published in hardcover edition, ©2012.
Examines how the wealthy classes have contributed to growing inequality in society and explains how the quest to increase wealth has hindered the country's economic growth as well as its efforts to solve its most pressing economic problems.
catalogue key
Includes bibliographical references (pages 365-502) and index.
A Look Inside
About the Author
Author Affiliation
Winner of the Nobel Prize in economics, Joseph E. Stiglitz is the best-selling author of Freefall, Globalization and Its Discontents, Making Globalization Work, and, with Linda Bilmes, The Three Trillion Dollar War. He teaches at Columbia University and lives in New York City.
Full Text Reviews
Appeared in Choice on 2013-02-01:
Nobel Prize-winning economist Stiglitz (Columbia Univ.) adds to the growing literature on inequality, persuasively arguing that a more equal and fair economy would also be a more efficient and dynamic one. Stiglitz reviews the evidence that American society has become dangerously unequal, not just in economic terms but also socially and politically. He builds on previous work holding that this growing inequality is mostly the product of policy, not merely the inevitable consequence of globalization. Stiglitz argues that almost every political decision of the last few decades has favored the 1 percent over the 99 percent, and in this he consciously adopts the language of the recent Occupy Wall Street (OWS) movement. He argues that high levels of inequality are not only bad for the vast majority of the US public, but also for the 1 percent over the long run. Stiglitz concludes with a comprehensive series of reforms that offer a change of course. Given the state of US politics, it is unlikely his plan will be adopted short of a revitalized OWS movement and/or a 1 percent in better touch with its own self-interest "properly understood." Summing Up: Highly recommended. All readership levels. S. E. Horn Everett Community College
Appeared in Library Journal on 2012-07-20:
Nobel Prize-winning economist Stiglitz (economics, Columbia Univ.; Freefall: America, Free Markets, and the Sinking of the World Economy) addresses the growing inequality of income and wealth in the United States. He explains how over the last three decades the gap between the wealthy and poor has widened and how the middle class has come under increasing financial stress. Those in the upper one percent, he says, have amassed political power to influence the government and electorate to enact policies that do not benefit most citizens. He warns that inequitable societies inevitably fail as distrust, alienation, and perceived unfairness erode societal cohesion. Among the reforms he advocates are increasing taxes (and making the tax code more progressive), eliminating hidden special-interest subsidies, investing in education and infrastructure, strengthening the social safety net, and making the central bank's top priority employment rather than inflation. Verdict Stiglitz's cogently argued indictment of American inequality is an important work. Paired with fellow Nobel laureate Paul Krugman's End This Depression Now!, they provide an accessible picture of current liberal economic thought. Essential reading for all Americans.-Lawrence Maxted, Gannon Univ. Lib., Erie, PA (c) Copyright 2012. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Review Quotes
An impassioned argument backed by rigorous economic analysis.
Concise and clearly argued.
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.
The single most comprehensive counterargument to both Democratic neoliberalism and Republican laissez-faire theories. While credible economists running the gamut from center right to center left describe our bleak present as the result of seemingly unstoppable developments-globalization and automation, a self-replicating establishment built on "meritocratic" competition, the debt-driven collapse of 2008-Stiglitz stands apart in his defiant rejection of such notions of inevitability. He seeks to shift the terms of the debate.
This item was reviewed in:
The Australian, February 2013
Guardian UK, April 2013
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Bowker Data Service Summary
'The Price of Inequality' provides a powerful critique of free-market ideas, and of the directions that America and many other societies have taken over the past 30 years, showing not why they are unfair, but also unwise.
Main Description
America currently has the most inequality, and the least equality of opportunity, among the advanced countries. While market forces play a role in this stark picture, politics has shaped those market forces. In this best-selling book, Nobel Prize-winning economist Joseph E. Stiglitz exposes the efforts of well-heeled interests to compound their wealth in ways that have stifled true, dynamic capitalism. Along the way he examines the effect of inequality on our economy, our democracy, and our system of justice. Stiglitz explains how inequality affects and is affected by every aspect of national policy, and with characteristic insight he offers a vision for a more just and prosperous future, supported by a concrete program to achieve that vision.
Main Description
The top I percent of Americans control some 40 percent of the nation's wealth. But as Joseph E. Stiglitz explains in this best-selling critique of the economic status quo, this level of inequality is not inevitable. Rather, in recent years well-heeled interests have compounded their wealth by stifling true, dynamic capitalism and making America no longer the land of opportunity that it once was. They have made America the most unequal advanced industrial country while crippling growth, distorting key policy debates, and fomenting a divided society. Stiglitz not only shows how and why America's inequality is bad for our economy but also exposes the effects of inequality on our democracy and on our system of justice while examining how monetary policy, budgetary policy, and globalization have contributed to its growth. With characteristic insight, he diagnoses our weakened state while offering a vision for a more just and prosperous future. Book jacket.
Table of Contents
Preface to the Paperback Editionp. ix
Prefacep. xxxvii
Acknowledgmentsp. lix
America's 1 Percent Problemp. 1
Rent Seeking and the Making of an Unequal Societyp. 35
Markets and Inequalityp. 65
Why It Mattersp. 104
A Democracy in Perilp. 148
1984 Is upon Usp. 183
Justice for All? How Inequality Is Eroding the Rule of Lawp. 234
The Battle of the Budgetp. 259
A Macroeconomic Policy and a Central Bank By and For the 1 Percentp. 298
The Way Forward: Another World Is Possiblep. 332
Notesp. 365
Indexp. 503
Table of Contents provided by Ingram. All Rights Reserved.

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