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

Rewriting the Rules of the American Economy An Agenda for Growth and Shared Prosperity It s time to rewrite the rules to curb the runaway flow of wealth to the top one percent to restore security and opportunity for the middle class and to foster stronger growth rooted in broadly shar

  • Title: Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity
  • Author: Joseph E. Stiglitz
  • ISBN: null
  • Page: 394
  • Format: Kindle Edition
  • It s time to rewrite the rules to curb the runaway flow of wealth to the top one percent, to restore security and opportunity for the middle class, and to foster stronger growth rooted in broadly shared prosperity.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 anIt s time to rewrite the rules to curb the runaway flow of wealth to the top one percent, to restore security and opportunity for the middle class, and to foster stronger growth rooted in broadly shared prosperity.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 expensive Deeply rooted structural discrimination continues to hold down women and people of color, and 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, globalization, 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.

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      Published :2019-02-01T18:35:43+00:00

    1 thought on “Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity

    1. 4 Stars - Incredible book.Joseph E. Stiglitz is a well-known American economist and academic. In one of his most recent pieces he discusses his thesis: inequality is a choice - economic inequality that is. He does not argue, for example, that I as a woman choose to be paid less than a man. No, that would be a ridiculous argument and I would have tossed the book out the window if he had ever even hinted at that idea (or that African Americans choose to be paid less/have less economic advantage th [...]

    2. ReWriting the Rules of the American Economy by Joseph StiglitzWhen the 2008 financial crisis struck, Noam Chomsky, influential leftist intellectual extraordinaire (and arguably a dying breed), recommend the United States government enlist Joseph Stiglitz to help drive the recovery as, at the very least, an ideological consultant. Even though the government uncharacteristically ignored the recommendation, the American public should most certainly not. Especially the American left. We should be pa [...]

    3. I read this book because I think there are problems with the US economy which need to be addressed. Specifically, I think the divide between middle class and CEO pay, the ratio of which has expanded exponentially over the years. I feel that the work of middle class needs to be valued and their pay needs to be raised, though as shown throughout history, taxation of the rich does not make the poor more wealthy. I read this book with the hopes on some fresh ideas on how to rebalance the earnings of [...]

    4. This was published in 2016 and I'm assuming Stiglitz and his team of researchers presumed they'd be addressing these very sensible policy changes to a Democratic administration. Of course, that's not how things worked out, so while I find these recommendations to be very smart and probably quite workable in some alternate universe--where Trump is not president and where our legislators are not a clown-car full of Ayn Randian government-hating zealots and dopey theocrats--to read it now is sort o [...]

    5. I really enjoyed this book as a brief and yet deep perspective on how the American economy has been structured to enable inequality. Stiglitz presents both the historical relevant policy modes and associated actions by corporations, governments, and citizens. He balances this with recommendations on how we can move forward to overhaul our economic structure and financial structure towards something that will promote greater equality and inclusion. This book left me wanting to revisit all of my e [...]

    6. I picked up the book when I ran into it in the library. Nobel prize winner Joseph Stiglitz, the author, has many publications influenced my view on economies. This book covers a timely topic - inequality and growth.I am convinced that inequality is a choice, and we can effectively address inequality by changing the rules of Economy. The book contains sparse data to support this idea. However, I am not satisfied with the explanation that economy will also grow fast with those new rules. No convin [...]

    7. Great book if you want to be reinforced in your views about the inequalities that have divided America from the haves and have nots. Pretty good book if you want to get a exhausting list of the things that need to change in order to see that inequality dissipate. Useless book if you want realistic plans for implementing any of the changes Stiglitz believes is required to balance inequality and promote prosperity for all.How now, brown cow?

    8. Two of the left’s leading lights in terms of economic thinking have books that came out recently. I’m not sure what the order was, but Robert Reich blew up my Facebook timeline promoting his new book “Saving Capitalism from the Capitalist”. Stiglitz hits many of the same points here in “Rewriting the Rules of the American Economy”. This book has its roots in a report from the Roosevelt Institute, and its layout and overall tone belie the audience. It was written more towards policy m [...]

    9. I listened to the audio book and it read like a laundry list of policy recommendations, which makes sense since the book is based on an actual policy proposal. In the first part he does review the causes of the 2008 economic crisis, providing the needed context for understanding the policy agenda, but overall, as you might guess, this does not make for very engaging reading. One prominent idea expressed in its pages is captured by the slogan, "Inequality is a choice", a clever way of countering [...]

    10. I am sympathetic to the central claim of this book that income inequality is a serious threat to American society. I am also supportive of many of the policy ideas advanced by the author, including changes to the tax code and political fundraising rules. However, for me the book itself was disappointingly one-sided in its framing of issues and interpretation of data. For example, the notion that intellectual property rules are the reason drugs cost too much and that IP protection should therefor [...]

    11. While the author makes good arguments to prove that inequality is a choice (reduction of coorporate taxes, less unions), throughout the book he has cherry picked the data.And at other places I don't agree with him ideologically - when he argues that giving citizenship to undocumented labor will increase their bargaining power but I don't consider giving citizenship to illegal immigrants ethically sound at first place. Also when he mixes race and class - blacks have higher poverty level but he sh [...]

    12. Economic and social change with a heart and a brainHere is the plan I've been looking for. Real ideas not just platitudes. Deep research and targeted plans for a future I can live with.

    13. Great to read during the election cycle. If only these suggestions were enacted. If only every politician read this book.

    14. Joseph Stiglitz, a Nobel laureate, with his colleagues Nell Abernathy, Adam Hersh, Susan Holmberg and Mike Konczal, have written a book to explain what is wrong with the American economy with an agenda to change it. The message is simple and clear: Inequality is choice. The runaway flow of wealth to the top one percent is governed by rules which need to be rewritten to restore security and opportunity for the middle class and to ensure strong growth and shared prosperity for all. The United Stat [...]

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