The Price of Inequality

Among developed nations, the United States currently leads in inequality and has the lowest levels of opportunity equality. Although economic forces contribute to this situation, political decisions have significantly influenced these market dynamics. In his best-selling work, Nobel laureate economist Joseph E. Stiglitz unveils how affluent groups have manipulated their wealth accumulation in ways that have hindered genuine, vibrant capitalism. He delves into the impacts of inequality on the economy, democracy, and the justice system. With his insightful analysis, Stiglitz demonstrates how inequality both shapes and is shaped by every facet of national policy. He presents a vision for a more equitable and prosperous future, backed by a detailed strategy to achieve this ideal. This book serves as a thorough counterpoint to both Democratic neoliberalism and Republican laissez-faire ideologies. While respected economists from center-right to center-left often attribute our current challenging circumstances to unstoppable forces like globalization, automation, and the 2008 debt-fueled crisis, Stiglitz uniquely challenges these narratives of inevitability. He strives to redefine the parameters of the discussion. --Thomas B. Edsall