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  • Published: 14 June 2013
  • ISBN: 9780718197384
  • Imprint: Penguin Press
  • Format: Paperback
  • Pages: 592
  • RRP: $27.99
Categories:

The Price of Inequality




Nobel Laureate Joseph Stiglitz explains why we are experiencing such destructively high levels of inequality - and why this is not inevitable

Nobel Laureate Joseph Stiglitz explains why we are experiencing such destructively high levels of inequality - and why this is not inevitable

The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn - too late.

In this timely book, Joseph Stiglitz identifies three major causes of our predicament: that markets don't work the way they are supposed to (being neither efficient nor stable); how political systems fail to correct the shortcomings of the market; and how our current economic and political systems are fundamentally unfair. He focuses chiefly on the gross inequality to which these systems give rise, but also explains how inextricably interlinked they are. Providing evidence that investment - not austerity - is vital for productivity, and offering realistic solutions for levelling the playing field and increasing social mobility, Stiglitz argues that reform of our economic and political systems is not just fairer, but is the only way to make markets work as they really should.

Joseph Stiglitz was Chief Economist at the World Bank until January 2000. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. He won the Nobel Prize for Economics in 2001 and is the best-selling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work and Freefall, all published by Penguin.

  • Published: 14 June 2013
  • ISBN: 9780718197384
  • Imprint: Penguin Press
  • Format: Paperback
  • Pages: 592
  • RRP: $27.99
Categories:

About the author

Joseph Stiglitz

Joseph Stiglitz was Chief Economist at the World Bank until January 2000. Before that he was Chairman of President Clinton's Council of Economic Advisors. He is currently Professor of Finance and Economics at Columbia University. He won the Nobel Prize for Economics in 2001.

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Praise for The Price of Inequality

Superb and original . . . Stiglitz is a rare combination of virtuoso economist, witty polemicist and public intellectual

Robert Kuttner, New Statesman

Important and smart . . . a searing read

Nicholas Kristof, The New York Times

The often inchoate anger seen in Occupy Wall Street is given shape, fluency, substance and authority by Stiglitz . . . he methodically and lyrically (almost joyously) exposes the myths that provide justification for 'deficit fetishism'

Yvonne Roberts, Observer

Trenchant, engaging . . . Stiglitz writes clearly and provocatively

Dante Chinni, Washington Post

A towering genius of economics

Independent