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The Price Of Inequality Book Review

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The Price of Inequality Name Institution The Price of Inequality In the past, the US was a nation with an upward mobility and was different from other European societies with rigid class divisions, the young could anticipate to lead better lives than the older people. Joseph Stiglitz in his book, The Price of Inequality: How Today 's Divided Society Endangers Our Future observes that the industrialization that is present in the Western world paves the way for better intergenerational mobility (Krupa, 2013). The author of the book has made various achievements during his life in the economic sector. He is an economist that won the Nobel Prize, served as a chairman of the Council of Economic Advisors during the Clinton era, …show more content…

The example that caught my eye was about the six inheritors to the Walmart wealth that have more wealth than thirty percent of the individuals that are considered to be poor in the economy. The statistics are more alarming when observed in examples that are closer home. For instance, only nine percent of the students in the specialized colleges come from the population considered poor. On the other hand, seventy-four percent of the population is deemed to be well off. It is clear social mobility is no longer the solution in the long-run (Krupa, 2014). Stiglitz refers to the studies that demonstrate that there is likely to be social mobility in America than in other industrialized nations. I believe that all these citizens should be informed about these …show more content…

They give a comprehensive historical evaluation of the role that economic and political institutions play in promoting sustained economic growth in different nations across the globe. In addition, a common aspect with stable economies is that they encourage dynamism, innovation, and change (Joseph, 2012). In essence, Stiglitz 's assertions are a documentation of the lack of these inclusive organizations in

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