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The Price of Inequality: How Today's Divided Society Endangers Our Future
Download Ebook The Price of Inequality: How Today's Divided Society Endangers Our Future
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Audible Audiobook
Listening Length: 13 hours and 4 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Tantor Audio
Audible.com Release Date: June 11, 2012
Whispersync for Voice: Ready
Language: English, English
ASIN: B008AF2KO6
Amazon Best Sellers Rank:
Superb book. This is a careful, very detailed dissection of all of the arguments for a society to allow development of the kind of extreme distribution of wealth the U.S. has allowed to occur over the past 35 or so years--since Reagan instituted policies designed to wreck our economy and basically destroy the nation. That may sound harsh, but the truth is no nation can survive concentrating tremendous wealth in the hands of a very small portion of the population. That might have worked 200 years ago, but it cannot work in a modern society. The Great Depression should have proven that, and did to every knowledgable, thinking person. The only people who believe the lies being perpetrated by the plutocracy are their paid mouthpieces and the ignorant (meaning lacking knowledge, not stupidity) people duped by their lies.
Well, how do I persuade EVERYONE on the planet to read this book? Stiglitz wrote a wonderful little piece in Vanity Fair back in 2011, entitled "of the 1%, by the 1% and for the 1%". About . . . the 1%. He succinctly summarized there what he wonderfully explains here. See if you can find the article: http://www.vanityfair.com/news/2011/05/toponepercent201105. This book is an expansion of that.The wonderful thing about Stiglitz, besides his Nobel Prize in economics, is that he writes very well, he cites a ton of examples, and he refers to studies and facts in abundance, but with a simple clarity. He is also very much aware of something called "behavioral economics". If you don't know what that is - look it up. Another Nobel prize winner, Daniel Kahnneman, in a book called Thinking, Fast and Slow, clearly explained that when it comes to economic decisions, we are definitely NOT rational animals. Any theoretical approach to how economics SHOULD work is doomed. We don't actually operate that way.Stiglitz takes the most recent history, casts the economic thought back to the founders - Adam Smith and others - and explains clearly the path of perdition that we are upon. You may think an unequal society is not a good idea, not fair, not whatever. What you need to grasp that it is a very dangerous way to run a society - VERY dangerous. We are destroying our own efficiency and productivity by this mindless path of downsizing government, reducing taxes, and failing to invest in ourselves - in our children, our infrastructure, our health, etc. Economics is not that complicated. If you take wealth OUT - rent seeking - we all lose. We only all gain if you invest in us, ourselves, our infrastructure. Taking wealth out is a lose / lose.It is a as clear as a bell to me - but HOW on earth can we get the balance of our citizenry and our elected wonks to understand this? They are not rational about elections either.So READ THIS, please. And see if you can't get a few others to do the same. We owe it to the kids and grandkids. This way evil lurks.
This is s wonderfully accessible grounding in contemporary economics theory, with numerous examples drawn from near-current American experience. It explains the concepts of inequity and its sources in the very structures of our laws and economic objectives. Like the old adage has it, "Nobody votes himself out of office," and this certainly applies to the 1 percent monied class in the US. The regressive income taxation formulas, the inheritance tax system, and the tight circle of 'good old boys' pretty much insures that the wealthiest and their families will stay that way, while the 99 percent continues to be misled by second-rank politicians and media pundits who convince many that this is the system that works in our best interest as well. Careful study of this text will give readers the information they need to unveil the conspiracy of inequality that holds the vast majority of us in confused passivity. Sanders, Warren, and Cortez are not the "second-rank politicians" referred to above, but the numerous millionaires who warm the seats of Congress promising us "pie tomorrow" are the ones to watch-out for. Follow these three campaigns in the light of what this book teaches you about how inequality in the opportunity to earn, to learn, and to revise the political system we have inherited has led to the moral and social impoverishment under which the 99 percent lives today.
This, much like Robert Reich's books, is an excellent description and explanation of our macroeconomic policy failings over the last 30 years or so. Whereas Reich's focus much on historical anecdotes of past policies, their successes or failings and how they match with today's policies, this book is more academic in nature, moving back and forth between economic theory and economic reality. Both reveal that our true national debt problems are due to a lack of revenue rather than overspending because it is a lack of spending that causes recessions in the first place. The economy produces more than it consumes and the lack of demand is due to the unequal distribution of wealth and this problem will only be exacerbated by policies that do nothing but move wealth to the already wealthy. While neither Stiglitz or Reich are overtly politically partisan in their writings, focusing mostly on objective facts, both also do make it quite clear that it has been largely the policies of the political right that have created much of the problems that we face today. Overall, this is a great read for anyone interested in the nitty gritty details of macroeconomic policy and how they have misused (purposely or not) or misunderstood leaving us in the situation at present.
I really appreciate the author, a Nobel economist willing to speak out. Unfortunately, this is the kind of book I have trouble reading because I become too angry to go on. It is a story that hundreds of millions of clue-less Americans need to hear, however. When, Dear Lord, can we "Move On" from the "Churches of the Republican Way"? (That's my sentiments, not the authors. But, really! I'm 72 years old, been protesting all my life, and just now the choice of the majority of white American Christians just effed us all AGAIN in their latest tax "overhaul".
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