Joseph Stiglitz on Inequality and the cost to society

Joseph Eugene Stiglitz is an Economics professor at Columbia University and 2001 recipient of the Nobel Memorial Prize in Economic Sciences. He is also the former senior vice president and chief economist of the World Bank.

I’d like to share 3 very interesting and in my opinion thought provoking articles of his entitled the “The 1 Percent’s Problem” and “Inequality: Of the 1%, by the 1%, for the 1%” and “The price of inequality“.

The sub-statement of the first reads,

Why won’t America’s 1 percent—such as the six Walmart heirs, whose wealth equals that of the entire bottom 30 percent—be a bit more . . . selfish? As the widening financial divide cripples the U.S. economy, even those at the top will pay a steep price.

This first piece was adapted from his: The Price of Inequality, by Joseph Stiglitz, Published in June by W.W. Norton & Company, Inc. (U.S.), and in July by Allen Lane (U.K.); © 2012 by the author.

Another article worth taking a look at is :  Joseph Stiglitz: ‘ This Deficit Fetishism is Killing Our Economy