Joseph Stiglitz on the Great Divide
Video
Inequality is not inevitable but a
choice the cumulative result of unjust policies and misguided
priorities.
July 24,
2015 "Information
Clearing House"
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Inequality is an increasing problem in the Western world, leaving
everyone the rich as well as the poor worse off. The dream of a
socially mobile society is becoming an ever more unachievable myth.
Thats the view of Nobel Prize-winning economist Joseph Stiglitz,
who came to the Intelligence Squared stage for a rare London
appearance in May 2015. Stiglitz argued that inequality is not
inevitable but a choice the cumulative result of unjust policies
and misguided priorities.
Stiglitz exposed the neoliberal policies, such as deregulation and
tax cuts for the rich, which he claims are causing many people to
fall further and further behind. He proposed real solutions:
increasing taxes on corporations and the wealthy; helping homeowners
instead of banks; investing in education, science, and
infrastructure; and, most importantly, doing more to restore full
employment. Stiglitz drew on lessons from America the inequality
leader of the developed world as well as Scandinavia, Singapore,
and Japan. And he argued against what he sees as the tide of
unnecessary, destructive austerity that is sweeping across Europe.
While many believe we are faced with a choice between growth and
fairness, Stiglitz believes that with the right policies, we can
have both.
