Inequality Is Holding Back The Recovery - By JOSEPH E. STIGLITZNYTimes.comQuicklink submitted by Susan Lee Schwartz Permalink
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|' A fifth of our kids live in poverty -- an aberration among rich nations'.. To Stigletz 'with inequality at its highest level since before the Depression, a robust recovery will be difficult in the short term, and the American dream -- a good life in exchange for hard work -- is slowly dying. Politicians typically talk about rising inequality and the sluggish recovery as separate phenomena, when they are in fact intertwined. Inequality stifles, restrains and holds back our growth. When even the free-market-oriented magazine The Economist argues -- that the magnitude and nature of the country's inequality represent a serious threat to America, we should know that something has gone horribly wrong. And yet, after four decades of widening inequality and the greatest economic downturn since the Depression, we haven't done anything about it... Read the four major reasons:|
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