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The Price of Inequality: Discussion

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Inequality is not inevitable. But in recent years well-heeled interested have compounded their wealth by stifling true, dynamic capitalism. They have made America the most unequal advanced industrial country, distorted by key policy debates, and fomented a divided society. In The Price of Inequality, Nobel Prize-winning economist and best-selling author Joeseph Stiglitz exposes the effect of the inequality on our democracy and our system of justice while examining how monetary policy, budgetary policy, and globalization have contributed to its growth. With characteristic insight, he diagnoses our weakened state while offering a vision for a more just and prosperous future.

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This book distills the essence of the economic disparity in the US and provides insight into how inequitable the US has become.  In addition to the excellent and clear expostulation of the economy and the damage disparity does to the entire society, it illustrates the underlying malady that leads to social disruption as described in The Spirit Level: Why Greater Equality Makes Societies Stronger.  Equity itself is a valid goal for any society and the rising Gini coefficient in the US bodes ill for the future from many aspects.  The election we face provides a choice, though a rather poor one, campared to what is needed.  As Joe describes so well, policies that improved equity would address so many of the myriad problems we face.

Sadly, neither the general public nor the leaders of our flawed political system are likely to read or heed the sound advise offered in this book.

 
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