March 19, 2013     Permalink economy, america Submitted by Michael Dewey

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Rising Economic Inequality in America: Its Causes and Consequences, Part 2: click here

Even though Dr. Stiglitz paints a gloomy picture of the economic conditions in the United States, he believes that a happy ending is within reach and there could be light at the end of tunnel. "Another world is possible. We can achieve a society in accord with our fundamental values, with more opportunity, and higher total national income, a stronger democracy, and higher living standards for most individuals" (p. 266). While Dr. Stiglitz is critical of the rich and their attempts to preserve the status quo, he emphasizes that his book is not about "politics of envy," bashing, or class warfare. It is rather about raising the common consciousness about fairness and efficiency, and about an economic system that benefits all and not just the privileged few.