The Great Divide

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  • Why
  • has
  • inequality
  • increased
  • in
  • the
  • Western
  • world
  • -
  • and
  • what
  • can
  • we
  • do
  • about
  • it?
  • In
  • The
  • Great
  • Divide,
  • Joseph
  • E.
  • Stiglitz
  • expands
  • on
  • the
  • diagnosis
  • he
  • offered
  • in
  • his
  • best-selling
  • book
  • The
  • Price
  • of
  • Inequality
  • and
  • suggests
  • ways
  • to
  • counter
  • this
  • growing
  • problem.
  • With
  • his
  • characteristic
  • blend
  • of
  • clarity
  • and
  • passion,
  • Stiglitz
  • argues
  • that
  • inequality
  • is
  • a
  • choice
  • -
  • the
  • cumulative
  • result
  • of
  • unjust
  • policies
  • and
  • misguided
  • priorities.In
  • these
  • essays,
  • articles
  • and
  • reflections,
  • Stiglitz
  • fully
  • exposes
  • the
  • inequality
  • -
  • from
  • its
  • dimensions
  • and
  • its
  • causes
  • to
  • its
  • consequences
  • for
  • the
  • world
  • -
  • that
  • is
  • afflicting
  • America
  • and
  • other
  • Western
  • countries
  • in
  • thrall
  • to
  • neoliberalism.
  • From
  • Reagan-era
  • policies
  • to
  • the
  • Great
  • Recession
  • and
  • its
  • long
  • aftermath,
  • Stiglitz
  • delves
  • into
  • the
  • processes
  • and
  • irresponsible
  • policies
  • -
  • deregulation,
  • tax
  • cuts
  • for
  • the
  • rich,
  • the
  • corruption
  • of
  • the
  • political
  • process
  • -
  • that
  • are
  • leaving
  • many
  • people
  • further
  • and
  • further
  • behind
  • and
  • turning
  • the
  • dream
  • of
  • a
  • socially
  • mobile
  • society
  • into
  • an
  • ever
  • more
  • unachievable
  • myth.
  • With
  • formidable
  • yet
  • accessible
  • economic
  • insight,
  • he
  • urges
  • us
  • to
  • embrace
  • real
  • solutions:
  • increasing
  • taxes
  • on
  • corporations
  • and
  • the
  • wealthy;
  • investing
  • in
  • education,
  • science,
  • and
  • infrastructure;
  • helping
  • homeowners
  • instead
  • of
  • banks;
  • and,
  • most
  • importantly,
  • doing
  • more
  • to
  • restore
  • the
  • economy
  • to
  • full
  • employment.
  • Stiglitz's
  • analysis
  • reaches
  • beyond
  • America
  • -
  • the
  • inequality
  • leader
  • of
  • the
  • developed
  • world
  • -
  • to
  • draw
  • lessons
  • from
  • Scandinavia,
  • Singapore,
  • and
  • Japan,
  • and
  • he
  • argues
  • against
  • the
  • tide
  • of
  • unnecessary,
  • destructive
  • austerity
  • that
  • is
  • sweeping
  • across
  • Europe.Ultimately,
  • Stiglitz
  • believes
  • our
  • choice
  • is
  • not
  • between
  • growth
  • and
  • fairness;
  • with
  • the
  • right
  • policies,
  • we
  • can
  • choose both.
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