The Price of Inequality

By Geoffrey James via   Article
5 Books that Billionares Don’t Want You to Read

“The Price of Inequality

 Subtitle: How Today’s Divided Society Endangers Our Future

Author: Joseph E. Stiglitz

Summary: Explains how well-heeled interests have compounded their wealth at the expense of the rest of the country, favoring huge companies and inherited wealth and creating a hostile environment for entrepreneurs and small business.

Best Quote: ‘Remarkably, in the heyday of unbridled capitalism, the early years of the century, a period in which inequality at the top increased at historic rates, there was no private sector job creation. And if we exclude construction–based on a real estate bubble–the record looks even worse. Not only doesn’t the money given to the top not necessarily go into ‘job creation’ and innovation; some of it goes into distorting our politics, especially in this new era of unbridled campaign contributions ushered in by Citizens United. What we have seen quite clearly is that a common use of wealth is to gain advantage in rent seeking, perpetuating inequalities through the political process.'”


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: