PDF Ebook , by Joseph E. Stiglitz
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, by Joseph E. Stiglitz
PDF Ebook , by Joseph E. Stiglitz
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Product details
File Size: 1274 KB
Print Length: 449 pages
Publisher: W. W. Norton & Company; 1 edition (June 11, 2012)
Publication Date: April 8, 2013
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B007MKCQ30
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Amazon Best Sellers Rank:
#42,675 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
Joseph Stiglitz is a Nobel Prize winner in Economics. In this work, he examines the effects of inequality in wealth and income in the United States. In this book, he addresses how inequality (Page xi) ". . .is cause and consequence of the failure of the political system, and it contributes to the instability of our economic system, which in turn contributes to increased inequality. . . ."The book addresses a number of related issues in its various chapters. He begins by laying out the extent of inequality and how those with disproportionate wealth enhance their own economic well-being by government decisions supportive of the wealthy. This ends up, in the author's view, strengthening further inequality. He discusses the deleterious consequences of enhancement of the power of the very wealthy. The key chapter is entitled "Why It Matters."Then, he begins his analysis of the implications of inequality on American politics and democracy. Among other issues, he contends that the very rule of law is being undermined.He concludes the book by noting that two scenarios exist for the United States: a more fair country with more equitable distribution of wealth, a healthier society, and a more democratic system. That is his preferred scenario. The other? Continuing increase in inequality, with the less well-off having poorer educational opportunity, poorer health care, and a sense of hopelessness. Market-oriented readers, believing in a less regulated economic system, will not find Stiglitz' arguments convincing. Just so, liberal readers will likely feel pretty sympathetic to his views. Whatever readers' views might be, though, this is a well written perspective that illuminates clearly one perspective on the life and times of the American economy and its people in the second decade of the 21st century.
Superb book. This is a careful, very detailed dissection of all of the arguments for a society to allow development of the kind of extreme distribution of wealth the U.S. has allowed to occur over the past 35 or so years--since Reagan instituted policies designed to wreck our economy and basically destroy the nation. That may sound harsh, but the truth is no nation can survive concentrating tremendous wealth in the hands of a very small portion of the population. That might have worked 200 years ago, but it cannot work in a modern society. The Great Depression should have proven that, and did to every knowledgable, thinking person. The only people who believe the lies being perpetrated by the plutocracy are their paid mouthpieces and the ignorant (meaning lacking knowledge, not stupidity) people duped by their lies.
Well, how do I persuade EVERYONE on the planet to read this book? Stiglitz wrote a wonderful little piece in Vanity Fair back in 2011, entitled "of the 1%, by the 1% and for the 1%". About . . . the 1%. He succinctly summarized there what he wonderfully explains here. See if you can find the article: http://www.vanityfair.com/news/2011/05/toponepercent201105. This book is an expansion of that.The wonderful thing about Stiglitz, besides his Nobel Prize in economics, is that he writes very well, he cites a ton of examples, and he refers to studies and facts in abundance, but with a simple clarity. He is also very much aware of something called "behavioral economics". If you don't know what that is - look it up. Another Nobel prize winner, Daniel Kahnneman, in a book called Thinking, Fast and Slow, clearly explained that when it comes to economic decisions, we are definitely NOT rational animals. Any theoretical approach to how economics SHOULD work is doomed. We don't actually operate that way.Stiglitz takes the most recent history, casts the economic thought back to the founders - Adam Smith and others - and explains clearly the path of perdition that we are upon. You may think an unequal society is not a good idea, not fair, not whatever. What you need to grasp that it is a very dangerous way to run a society - VERY dangerous. We are destroying our own efficiency and productivity by this mindless path of downsizing government, reducing taxes, and failing to invest in ourselves - in our children, our infrastructure, our health, etc. Economics is not that complicated. If you take wealth OUT - rent seeking - we all lose. We only all gain if you invest in us, ourselves, our infrastructure. Taking wealth out is a lose / lose.It is a as clear as a bell to me - but HOW on earth can we get the balance of our citizenry and our elected wonks to understand this? They are not rational about elections either.So READ THIS, please. And see if you can't get a few others to do the same. We owe it to the kids and grandkids. This way evil lurks.
This is s wonderfully accessible grounding in contemporary economics theory, with numerous examples drawn from near-current American experience. It explains the concepts of inequity and its sources in the very structures of our laws and economic objectives. Like the old adage has it, "Nobody votes himself out of office," and this certainly applies to the 1 percent monied class in the US. The regressive income taxation formulas, the inheritance tax system, and the tight circle of 'good old boys' pretty much insures that the wealthiest and their families will stay that way, while the 99 percent continues to be misled by second-rank politicians and media pundits who convince many that this is the system that works in our best interest as well. Careful study of this text will give readers the information they need to unveil the conspiracy of inequality that holds the vast majority of us in confused passivity. Sanders, Warren, and Cortez are not the "second-rank politicians" referred to above, but the numerous millionaires who warm the seats of Congress promising us "pie tomorrow" are the ones to watch-out for. Follow these three campaigns in the light of what this book teaches you about how inequality in the opportunity to earn, to learn, and to revise the political system we have inherited has led to the moral and social impoverishment under which the 99 percent lives today.
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