In The Great Divide , Joseph E. Stiglitz expands on the diagnosis he offered in his best-selling book The Price of Inequality and suggests ways to counter America's growing problem. With his signature blend of clarity and passion, Stiglitz argues that inequality is a choice--the cumulative result of unjust policies and misguided priorities.Read more...
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In The Great Divide, Joseph E. Stiglitz expands on the diagnosis he offered in his best-selling book The Price of Inequality and suggests ways to counter America's growing problem. With his signature blend of clarity and passion, Stiglitz argues that inequality is a choice--the cumulative result of unjust policies and misguided priorities.
Gathering his writings for popular outlets including Vanity Fair and the New York Times, Stiglitz exposes in full America's inequality: its dimensions, its causes, and its consequences for the nation and for the world. From Reagan-era to the Great Recession and its long aftermath, Stiglitz delves into the irresponsible policies--deregulation, tax cuts, and tax breaks for the 1 percent--that are leaving many Americans farther and farther beyond and turning the American dream into an ever more unachievable myth. With formidable yet accessible economic insight, he urges us to embrace real solutions: increasing taxes on corporations and the wealthy; offering more help to the children of the poor; investing in education, science, and infrastructure; helping out homeowners instead of banks; and, most importantly, doing more to restore the economy to full employment. Stiglitz also draws lessons from Scandinavia, Singapore, and Japan, and he argues against the tide of unnecessary, destructive austerity that is sweeping across Europe.
Ultimately, Stiglitz believes our choice is not between growth and fairness; with the right policies, we can choose both. His complaint is not so much about capitalism as such, but how twenty-first-century capitalism has been perverted. His is a call to confront America's economic inequality as the political and moral issue that it is. If we reinvest in people and pursue the other policies that he describes, America can live up to the shared dream of a more prosperous, more equal society.
- ISBN-13: 9780393248579
- ISBN-10: 0393248577
- Publisher: W. W. Norton & Company
- Publish Date: April 2015
- Page Count: 448
- Dimensions: 9.36 x 6.95 x 1.41 inches
- Shipping Weight: 1.75 pounds
Publishers Weekly® Reviews
- Reviewed in: Publishers Weekly, page .
- Review Date: 2015-04-27
- Reviewer: Staff
Nobel Prize–winning economist Stiglitz's collection of recent essays is a fine, if at times repetitive, look at the steady increase in income inequality throughout the world over the past several years. Stiglitz (The Price of Inequality) contends that a number of U.S. policies created in the last 30 years have contributed both to this phenomenon and to the Great Recession. He also argues that trickle-down economics and the "too big to fail" arguments of the financial industry have led the U.S. down a dangerous path that disrupts innovation, lowers life expectancy, and will cripple the country economically for the next few decades. He proposes any number of solutions that would reduce income inequality and the power of the wealthiest 1% but also seriously increase the scope of government. The essays are grouped thematically into different sections with titles like "Dimensions of Inequality" and "Policy." While many would work perfectly well as standalones, when grouped together they risk boring the reader with redundant background information. That said, with this book Stiglitz has succeeded in breaking down complex economic concepts into language that educated laypeople can understand, and readers will be fascinated by his ideas. (Apr.)