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Rewriting the Rules of the American Economy an Agenda for Growth and Shared Prosperity Paperback – 4 December 2015
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Inequality is a choice.
The United States bills itself as the land of opportunity, a place where anyone can achieve success and a better life through hard work and determination. But the facts tell a different story―the U.S. today lags behind most other developed nations in measures of inequality and economic mobility. For decades, wages have stagnated for the majority of workers while economic gains have disproportionately gone to the top one percent. Education, housing, and health care―essential ingredients for individual success―are growing ever more expensive. Deeply rooted structural discrimination continues to hold down women and people of color, and more than one-fifth of all American children now live in poverty. These trends are on track to become even worse in the future.
Some economists claim that today's bleak conditions are inevitable consequences of market outcomes, globalization, and technological progress. If we want greater equality, they argue, we have to sacrifice growth. This is simply not true. American inequality is the result of misguided structural rules that actually constrict economic growth. We have stripped away worker protections and family support systems, created a tax system that rewards short-term gains over long-term investment, offered a de facto public safety net to too-big-to-fail financial institutions, and chosen monetary and fiscal policies that promote wealth over full employment.
- Print length256 pages
- LanguageEnglish
- Publisher*Norton agency titles
- Publication date4 December 2015
- Dimensions13.97 x 2.03 x 20.83 cm
- ISBN-100393353125
- ISBN-13978-0393353129
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Review
The secret truth about economic inequality in America: once you look at the issue this way, it's hard to think of it any other way.-- "Time"
At a time when 25 hedge fund managers make more than all our nation's kindergarten teachers combined, it is clear that the rules are rigged in favor of the wealthy few. Joseph Stiglitz has proposed a bold plan to rewrite these rules by rebuilding our economy for the twenty-first century.--Randi Weingarten, president of the American Federation of Teachers
Stiglitz realizes that deepening inequality in our country is not an unlucky act of nature, but a consequence of the policies we have chosen. This lively book suggests a whole menu of policy changes to move us toward a more widely shared prosperity.--Robert Solow, winner of the Nobel Prize
About the Author
Product details
- Publisher : *Norton agency titles; 1st edition (4 December 2015)
- Language : English
- Paperback : 256 pages
- ISBN-10 : 0393353125
- ISBN-13 : 978-0393353129
- Dimensions : 13.97 x 2.03 x 20.83 cm
- Customer Reviews:
About the author

Joseph E. Stiglitz is a professor of economics at Columbia University and the recipient of a John Bates Clark Medal and a Nobel Prize. He is also the former senior vice president and chief economist of the World Bank. His books include Globalization and Its Discontents, The Three Trillion Dollar War, and Making Globalization Work. He lives in New York City.
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One of the problems with the economy is the rewarding of "short-termism" over long term investment. Witness the gambling with derivatives.
Trade agreements are another issue where the agreements are more "managed trade" than "free trade."
He provides a solution for high pharmaceutical costs and calls for transparency in financial markets.
The tax system encourages speculation over actual work or labor.
A helpful feature is the definition of economic terms throughout the book.
The best part of the book is that the author not only explains what is wrong with the American economy, he explains how it can be corrected.


