America’s Global Election

by Joseph E. Stiglitz Joseph E. Stiglitz, a Nobel laureate in economics, is University Professor at Columbia University. His most recent book is The Price of Inequality: How Today’s Divided Society Endangers our Future. 01.11.2012


Most people around the world will not be able to vote in the United States’s upcoming presidential election, even though they have a great deal at stake in the result. Overwhelmingly, non-US citizens favor Barack Obama’s re-election over a victory for his challenger, Mitt Romney. There are good reasons for this.............While Bush is not on the ballot, Romney has not really distanced himself from the Bush administration’s policies. On the contrary, his campaign has featured the same advisers, the same devotion to higher military spending, the same belief that tax cuts for the rich are the solution to every economic problem, and the same fuzzy budget math.....

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A Book Introduction:

The Price of Inequality: How Today's Divided Society Endangers Our Future by Joseph E. Stiglitz

June 11, 2012

A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–winning economist.

The top 1 percent of Americans control 40 percent of the nation’s wealth. And, as Joseph E. Stiglitz explains, while those at the top enjoy the best health care, education, and benefits of wealth, they fail to realize that “their fate is bound up with how the other 99 percent live.” 

Stiglitz draws on his deep understanding of economics to show that growing inequality is not inevitable: moneyed interests compound their wealth by stifling true, dynamic capitalism. They have made America the most unequal advanced industrial country while crippling growth, trampling on the rule of law, and undermining democracy. The result: a divided society that cannot tackle its most pressing problems. With characteristic insight, Stiglitz examines our current state, then teases out its implications for democracy, for monetary and budgetary policy, and for globalization. He closes with a plan for a more just and prosperous future.

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