America, once the land of opportunity, is becoming a land of adversity, according to Nobel Prize-winning economist Joseph E. Stiglitz. In this incisive article, which some readers will find disconcerting and others inspiring, he argues that flawed policy and the insidious role of money in politics have resulted in a US economy that benefits only the wealthiest, leaving everyone else behind. He warns that leaders must intercede to rebalance the economy or suffer the consequences of radicalism and unrest.
In this summary, you will learn
- Why inequality in the United States has expanded since the 1970s,
- How “the American economy is rigged,”
- What government actions would remedy the imbalances and
- Why such corrections are necessary.
About the Author
Joseph E. Stiglitz is a professor at Columbia University and chief economist at the Roosevelt Institute. In 2001, he won the Nobel Prize in economics.