The Price of Inequality

by Joseph E. Stiglitz ⚡

Stiglitz sets a compelling narrative in The Price of Inequality, that is, the world is becoming increasingly economically unequal.

The more divided a society becomes in terms of wealth, the more reluctant the wealthy are to spend money on common needs. The rich don’t need to rely on government for parks or education or medical care or personal security.

I come from a middle-class background, but looking at my life now, I can't help but think that I, and most of the people alongside me, are now members of the working class. There is, clearly, something rotten at the core of our society. The result is a lack of opportunity and a lack of fair reward for work done. We produce more, but the fruits of our labour remain at the top, rather than trickling down.

As Stiglitz so eloquently points out, until we decide to take this issue more seriously, things will continue to get worse. Unfortunately I have no consequence that the powers that be have any incentive to change things for the better for the 99%.