Joseph stiglitz inequality

Joseph stiglitz contribution to economics

Nobel Prize-winning economist Joseph Stiglitz wrote a decade ago about an alarming wealth and income gap in the U. One of the biggest changes since is the role politics plays in both shaping the discourse about inequality and creating it. Inequality was once explained as a natural result of technological innovation that had increased demand for skilled labor and cut demand for unskilled labor.

The resurgence of populist, nationalist political movements around the world, including in the U. The Republican party has embraced anti-intellectualism and stoked distrust in science, which attracts those who feel disrespected by elites; and Democrats have prioritized certain policies that have limited appeal. Inequality has played a major role during the pandemic, both in terms of who thrived financially as well as who survived.

And with percent of Americans living paycheck to paycheck, if you get sick, you have to go to work if you possibly can. You need public investment. A price of carbon is not going to solve the problem of public transportation systems or the basic research that is going to come to be so influential in determining whether we are going to be able to move quickly to renewable energies.

Ultimately, he said, we will need new political approaches. Magda Baden was just 14 when the Nazis sent her to Auschwitz.

Joseph stiglitz quotes

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