What will you learn from this book
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Growing Income Inequality: Stiglitz highlights the significant increase in income inequality in many countries, particularly the United States. He discusses the various factors contributing to this trend.
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Impact on Society: The book delves into the social consequences of inequality, including its impact on social mobility, education, health outcomes, and overall well-being of the population.
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Political Influence: Stiglitz examines how economic inequality can translate into political influence, potentially undermining democratic principles. He discusses the influence of wealth on policy decisions.
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Role of Institutions: The author explores the role of institutions in perpetuating or mitigating inequality. He discusses how policies and institutional structures can either exacerbate or alleviate economic disparities.
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Globalization and Inequality: Stiglitz analyzes the relationship between globalization and inequality, discussing how global economic forces can contribute to disparities within nations.
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Market Failures: The book emphasizes instances where market forces fail to address inequality adequately. Stiglitz argues for the need for government intervention to correct market failures and promote a fairer distribution of resources.
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Educational Inequality: Stiglitz discusses how disparities in education contribute to and perpetuate economic inequality. He explores the role of education as a tool for social mobility.
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Taxation Policies: The book explores the impact of tax policies on income distribution. Stiglitz advocates for tax reforms that address loopholes and ensure that the wealthy contribute their fair share.
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Economic Growth and Inequality: Stiglitz challenges the notion that unchecked inequality is a necessary byproduct of economic growth. He discusses alternative models that prioritize inclusive growth.
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Policy Recommendations: The author provides policy recommendations to address inequality, including reforms in taxation, education, social safety nets, and financial regulation. He advocates for a more inclusive economic system.
| Language | English |
|---|---|
| ISBN-10 | 0718197380 |
| ISBN-13 | 9780718197384 |
| No of pages | 590 |
| Font Size | Medium |
| Book Publisher | penguin |
| Published Date | 08 Apr 2013 |
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The Price Of Inequality is a critical and incisive examination of American society, politics, and economic policies in recent times. The author examines how greed and power have combined to drive a deep wedge, in a society where the privileged few ensure that their status remains undisturbed, at the cost of the majority.
The book shows how the elite 1% have retained a stranglehold on wealth and power, by exerting their considerable influence on politics and the government. They use their money and influence to gain leverage in defining the social and economic policies of the country.
The author says that the skewed divide in society is not just the result of natural economic dynamics, but the deliberate machinations of the privileged minority who have been allowed to flourish and grow at the expense of the rest of the society.
The author says that while a free and competitive market is necessary for growth, it needs checks and regulations. Without proper controlling measures, this just further tilts the scales in favour of the already rich and powerful. So while the elite minority get to retain their lives of luxury and power, enjoy the best medical care, and give their children the best education, the larger section of the society is stripped of such amenities.
The 99% have to live a life threatened by economic uncertainty, job insecurity, poor health care, and mediocre education. In the end, the book warns that this will affect the whole society, resulting in a weaker nation that is unable to make full use of its most valuable assets - people.
The Price Of Inequality was published in paperback by Penguin UK in 2013.
Key Features:
This book was written by a nobel laureate.
It offers insights into how the concentration of power and wealth in the hands of a few, has actually stifled the growth of a truly dynamic capitalism and free market.