Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity

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Joseph E. Stiglitz (Columbia University)

Rewriting the Rules of the American Economy

An Agenda for Growth and Shared Prosperity

Joseph E. Stiglitz (Columbia University)

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English

Norton
04 December 2015

Economics & Business; Economic theory & philosophy; Public finance

Inequality is a choice. The United States bills itself as the land of opportunity, a place where anyone can achieve success and a better life through hard work and determination.

But the facts tell a different story - the U.S. today lags behind most other developed nations in measures of inequality and economic mobility. For decades, wages have stagnated for the majority of workers while economic gains have disproportionately gone to the top one percent. Education, housing and health care-essential ingredients for individual success-are growing ever more expensive. Deeply rooted structural discrimination continues to hold down women and people of colour, and more than one-fifth of all American children now live in poverty. These trends are on track to become even worse in the future. Some economists claim that today's bleak conditions are inevitable consequences of market outcomes, globalisation and technological progress. If we want greater equality, they argue, we have to sacrifice growth. This is simply not true.

American inequality is the result of misguided structural rules that actually constrict economic growth. We have stripped away worker protections and family support systems, created a tax system that rewards short-term gains over long-term investment, offered a de facto public safety net to too-big-to-fail financial institutions, and chosen monetary and fiscal policies that promote wealth over full employment.

By: Joseph E. Stiglitz (Columbia University)
Imprint: Norton
Country of Publication: United States
Dimensions: Height: 208mm, Width: 140mm, Spine: 20mm
Weight: 227g
ISBN: 9780393353129
ISBN 10: 0393353125
Publication Date: 04 December 2015
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active

Reviews for Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity

The secret truth about economic inequality in America: once you look at the issue this way, it's hard to think of it any other way. -- Time An aggressive blueprint for rewriting 35 years of policies [that] have led to a vast concentration of wealth among the richest Americans and an increasingly squeezed middle class. -- The New York Times this is a beautifully written book, and one that can be read in an afternoon. It is short and to the point, a clear, concise and up-to-date book. -- Times Higher Education