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Succinct, accessible, and authoritative, Thomas Piketty’s The Economics of Inequality is the ideal place to start for those who want to understand the fundamental issues at the heart of one the most pressing concerns in contemporary economics and politics. This work now appears in English for the first time.
Book Synopsis The Economics of Inequality by : Thomas Piketty
Download or read book The Economics of Inequality written by Thomas Piketty and published by Harvard University Press. This book was released on 2015-08-03 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Succinct, accessible, and authoritative, Thomas Piketty’s The Economics of Inequality is the ideal place to start for those who want to understand the fundamental issues at the heart of one the most pressing concerns in contemporary economics and politics. This work now appears in English for the first time.
A Nobel prize winner challenges us to throw off the free market fundamentalists and reclaim our economy. We all have the sense that the American economy—and its government—tilts toward big business, but as Joseph E. Stiglitz explains in his new book, People, Power, and Profits, the situation is dire. A few corporations have come to dominate entire sectors of the economy, contributing to skyrocketing inequality and slow growth. This is how the financial industry has managed to write its own regulations, tech companies have accumulated reams of personal data with little oversight, and our government has negotiated trade deals that fail to represent the best interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. If something isn’t done, new technologies may make matters worse, increasing inequality and unemployment. Stiglitz identifies the true sources of wealth and of increases in standards of living, based on learning, advances in science and technology, and the rule of law. He shows that the assault on the judiciary, universities, and the media undermines the very institutions that have long been the foundation of America’s economic might and its democracy. Helpless though we may feel today, we are far from powerless. In fact, the economic solutions are often quite clear. We need to exploit the benefits of markets while taming their excesses, making sure that markets work for us—the U.S. citizens—and not the other way around. If enough citizens rally behind the agenda for change outlined in this book, it may not be too late to create a progressive capitalism that will recreate a shared prosperity. Stiglitz shows how a middle-class life can once again be attainable by all. An authoritative account of the predictable dangers of free market fundamentalism and the foundations of progressive capitalism, People, Power, and Profits shows us an America in crisis, but also lights a path through this challenging time.
Book Synopsis People, Power, and Profits: Progressive Capitalism for an Age of Discontent by : Joseph E. Stiglitz
Download or read book People, Power, and Profits: Progressive Capitalism for an Age of Discontent written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2019-04-23 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Nobel prize winner challenges us to throw off the free market fundamentalists and reclaim our economy. We all have the sense that the American economy—and its government—tilts toward big business, but as Joseph E. Stiglitz explains in his new book, People, Power, and Profits, the situation is dire. A few corporations have come to dominate entire sectors of the economy, contributing to skyrocketing inequality and slow growth. This is how the financial industry has managed to write its own regulations, tech companies have accumulated reams of personal data with little oversight, and our government has negotiated trade deals that fail to represent the best interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. If something isn’t done, new technologies may make matters worse, increasing inequality and unemployment. Stiglitz identifies the true sources of wealth and of increases in standards of living, based on learning, advances in science and technology, and the rule of law. He shows that the assault on the judiciary, universities, and the media undermines the very institutions that have long been the foundation of America’s economic might and its democracy. Helpless though we may feel today, we are far from powerless. In fact, the economic solutions are often quite clear. We need to exploit the benefits of markets while taming their excesses, making sure that markets work for us—the U.S. citizens—and not the other way around. If enough citizens rally behind the agenda for change outlined in this book, it may not be too late to create a progressive capitalism that will recreate a shared prosperity. Stiglitz shows how a middle-class life can once again be attainable by all. An authoritative account of the predictable dangers of free market fundamentalism and the foundations of progressive capitalism, People, Power, and Profits shows us an America in crisis, but also lights a path through this challenging time.
The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
Book Synopsis Engine of Inequality by : Karen Petrou
Download or read book Engine of Inequality written by Karen Petrou and published by John Wiley & Sons. This book was released on 2021-03-03 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
American communities are facing chronic problems: fiscal stress, urban decline, environmental sprawl, mass incarceration, political isolation, disproportionate foreclosures and severe public health risks. In The Price of Paradise, David Troutt argues that it is a lack of mutuality in our local decision making that has led to this looming crisis facing cities and local governments. Arguing that there are structural flaws in the American dream, Troutt investigates the role that place plays in our thinking and how we have organized our communities to create or deny opportunity. Legal rules and policies that promoted mobility for most citizens simultaneously stifled and segregated a growing minority by race, class and—most importantly—place. A conversation about America at the crossroads, The Price of Paradise is a multilayered exploration of the legal, economic and cultural forces that contribute to the squeeze on the middle class, the hidden dangers of growing income and wealth inequality and the literature on how growth and consumption patterns are environmentally unsustainable.
Book Synopsis The Price of Paradise by : David Dante Troutt
Download or read book The Price of Paradise written by David Dante Troutt and published by NYU Press. This book was released on 2014-01-17 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: American communities are facing chronic problems: fiscal stress, urban decline, environmental sprawl, mass incarceration, political isolation, disproportionate foreclosures and severe public health risks. In The Price of Paradise, David Troutt argues that it is a lack of mutuality in our local decision making that has led to this looming crisis facing cities and local governments. Arguing that there are structural flaws in the American dream, Troutt investigates the role that place plays in our thinking and how we have organized our communities to create or deny opportunity. Legal rules and policies that promoted mobility for most citizens simultaneously stifled and segregated a growing minority by race, class and—most importantly—place. A conversation about America at the crossroads, The Price of Paradise is a multilayered exploration of the legal, economic and cultural forces that contribute to the squeeze on the middle class, the hidden dangers of growing income and wealth inequality and the literature on how growth and consumption patterns are environmentally unsustainable.
Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is—and for this, we need a quantitative, testable theory of fairness for free-market capitalism. How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory’s predictions to actual inequality data from various countries—showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair—and discusses the theory’s implications for tax policy, social programs, and executive compensation.
Book Synopsis How Much Inequality Is Fair? by : Venkat Venkatasubramanian
Download or read book How Much Inequality Is Fair? written by Venkat Venkatasubramanian and published by Columbia University Press. This book was released on 2017-08-08 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is—and for this, we need a quantitative, testable theory of fairness for free-market capitalism. How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory’s predictions to actual inequality data from various countries—showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair—and discusses the theory’s implications for tax policy, social programs, and executive compensation.
Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy. Jonathan D. Ostry, Prakash Loungani, and Andrew Berg demonstrate that the extent of inequality depends on the policies governments choose—such as whether to let capital move unhindered across national boundaries, how much austerity to impose, and how much to deregulate markets. While these policies do often confer growth benefits, they have also been responsible for much of the increase in inequality. The book also shows that inequality leads to weaker economic performance and proposes alternative policies capable of delivering more inclusive growth. In addition to improving access to health care and quality education, they call for redistribution from the rich to the poor and present evidence showing that redistribution does not hurt growth. Accessible to scholars across disciplines as well as to students and policy makers, Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.
Book Synopsis Confronting Inequality by : Jonathan D. Ostry
Download or read book Confronting Inequality written by Jonathan D. Ostry and published by Columbia University Press. This book was released on 2019-01-08 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy. Jonathan D. Ostry, Prakash Loungani, and Andrew Berg demonstrate that the extent of inequality depends on the policies governments choose—such as whether to let capital move unhindered across national boundaries, how much austerity to impose, and how much to deregulate markets. While these policies do often confer growth benefits, they have also been responsible for much of the increase in inequality. The book also shows that inequality leads to weaker economic performance and proposes alternative policies capable of delivering more inclusive growth. In addition to improving access to health care and quality education, they call for redistribution from the rich to the poor and present evidence showing that redistribution does not hurt growth. Accessible to scholars across disciplines as well as to students and policy makers, Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.
A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–winning economist. The top 1 percent of Americans control some 40 percent of the nation’s wealth. But as Joseph E. Stiglitz explains in this best-selling critique of the economic status quo, this level of inequality is not inevitable. Rather, in recent years well-heeled interests have compounded their wealth by stifling true, dynamic capitalism and making America no longer the land of opportunity that it once was. They have made America the most unequal advanced industrial country while crippling growth, distorting key policy debates, and fomenting a divided society. Stiglitz not only shows how and why America’s inequality is bad for our economy but also exposes the effects of inequality on our democracy and on our system of justice while examining how monetary policy, budgetary policy, and globalization have contributed to its growth. With characteristic insight, he diagnoses our weakened state while offering a vision for a more just and prosperous future.
Book Synopsis The Price of Inequality: How Today's Divided Society Endangers Our Future by : Joseph E. Stiglitz
Download or read book The Price of Inequality: How Today's Divided Society Endangers Our Future written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2012-06-11 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: A forceful argument against America's vicious circle of growing inequality by the Nobel Prize–winning economist. The top 1 percent of Americans control some 40 percent of the nation’s wealth. But as Joseph E. Stiglitz explains in this best-selling critique of the economic status quo, this level of inequality is not inevitable. Rather, in recent years well-heeled interests have compounded their wealth by stifling true, dynamic capitalism and making America no longer the land of opportunity that it once was. They have made America the most unequal advanced industrial country while crippling growth, distorting key policy debates, and fomenting a divided society. Stiglitz not only shows how and why America’s inequality is bad for our economy but also exposes the effects of inequality on our democracy and on our system of justice while examining how monetary policy, budgetary policy, and globalization have contributed to its growth. With characteristic insight, he diagnoses our weakened state while offering a vision for a more just and prosperous future.
“There's Money in Thirst,” reads a headline in the New York Times. The CEO of Nestlé, purveyor of bottled water, heartily agrees. It is important to give water a market value, he says in a promotional video, so “we're all aware that it has a price.” But for those who have no access to clean water, a fifth of the world's population, the price is thirst. This is the frightening landscape that Karen Piper conducts us through in The Price of Thirst—one where thirst is political, drought is a business opportunity, and more and more of our most necessary natural resource is controlled by multinational corporations. In visits to the hot spots of water scarcity and the hotshots in water finance, Piper shows us what happens when global businesses with mafia-like powers buy up the water supply and turn off the taps of people who cannot pay: border disputes between Iraq and Turkey, a “revolution of the thirsty” in Egypt, street fights in Greece, an apartheid of water rights in South Africa. The Price of Thirst takes us to Chile, the first nation to privatize 100 percent of its water supplies, creating a crushing monopoly instead of a thriving free market in water; to New Delhi, where the sacred waters of the Ganges are being diverted to a private water treatment plant, fomenting unrest; and to Iraq, where the U.S.-mandated privatization of water resources destroyed by our military is further destabilizing the volatile region. And in our own backyard, where these same corporations are quietly buying up water supplies, Piper reveals how “water banking” is drying up California farms in favor of urban sprawl and private towns. The product of seven years of investigation across six continents and a dozen countries, and scores of interviews with CEOs, activists, environmentalists, and climate change specialists, The Price of Thirst paints a harrowing picture of a world out of balance, with the distance between the haves and have-nots of water inexorably widening and the coming crisis moving ever closer.
Book Synopsis The Price of Thirst by : Karen Piper
Download or read book The Price of Thirst written by Karen Piper and published by U of Minnesota Press. This book was released on 2014-10-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: “There's Money in Thirst,” reads a headline in the New York Times. The CEO of Nestlé, purveyor of bottled water, heartily agrees. It is important to give water a market value, he says in a promotional video, so “we're all aware that it has a price.” But for those who have no access to clean water, a fifth of the world's population, the price is thirst. This is the frightening landscape that Karen Piper conducts us through in The Price of Thirst—one where thirst is political, drought is a business opportunity, and more and more of our most necessary natural resource is controlled by multinational corporations. In visits to the hot spots of water scarcity and the hotshots in water finance, Piper shows us what happens when global businesses with mafia-like powers buy up the water supply and turn off the taps of people who cannot pay: border disputes between Iraq and Turkey, a “revolution of the thirsty” in Egypt, street fights in Greece, an apartheid of water rights in South Africa. The Price of Thirst takes us to Chile, the first nation to privatize 100 percent of its water supplies, creating a crushing monopoly instead of a thriving free market in water; to New Delhi, where the sacred waters of the Ganges are being diverted to a private water treatment plant, fomenting unrest; and to Iraq, where the U.S.-mandated privatization of water resources destroyed by our military is further destabilizing the volatile region. And in our own backyard, where these same corporations are quietly buying up water supplies, Piper reveals how “water banking” is drying up California farms in favor of urban sprawl and private towns. The product of seven years of investigation across six continents and a dozen countries, and scores of interviews with CEOs, activists, environmentalists, and climate change specialists, The Price of Thirst paints a harrowing picture of a world out of balance, with the distance between the haves and have-nots of water inexorably widening and the coming crisis moving ever closer.
Inequality for All makes an important contribution to current debates about economic inequalities and the growing achievement gap, particularly in mathematics and science education. The authors argue that the greatest source of variation in opportunity to learn is not between local communities, or even schools, but between classrooms. They zero in on one of the core elements of schooling—coverage of subject matter content—and examine how such opportunities are distributed across the millions of school children in the United States. Drawing on data from the third TIMMS international study of curriculum and achievement, as well as a six-district study of over 500 schools across the United States, they point to Common Core State Standards as being a key step in creating a more level playing field for all students. William H. Schmidt is University Distinguished Professor at Michigan State University and co-director of the Education Policy Center. Curtis C. McKnight is emeritus professor of mathematics at the University of Oklahoma.
Book Synopsis Inequality for All by : William Schmidt
Download or read book Inequality for All written by William Schmidt and published by Teachers College Press. This book was released on 2015-04-17 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequality for All makes an important contribution to current debates about economic inequalities and the growing achievement gap, particularly in mathematics and science education. The authors argue that the greatest source of variation in opportunity to learn is not between local communities, or even schools, but between classrooms. They zero in on one of the core elements of schooling—coverage of subject matter content—and examine how such opportunities are distributed across the millions of school children in the United States. Drawing on data from the third TIMMS international study of curriculum and achievement, as well as a six-district study of over 500 schools across the United States, they point to Common Core State Standards as being a key step in creating a more level playing field for all students. William H. Schmidt is University Distinguished Professor at Michigan State University and co-director of the Education Policy Center. Curtis C. McKnight is emeritus professor of mathematics at the University of Oklahoma.
America’s higher education system is failing its students. In the space of a generation, we have gone from being the best-educated society in the world to one surpassed by eleven other nations in college graduation rates. Higher education is evolving into a caste system with separate and unequal tiers that take in students from different socio-economic backgrounds and leave them more unequal than when they first enrolled. Until the 1970s, the United States had a proud history of promoting higher education for its citizens. The Morrill Act, the G.I. Bill and Pell Grants enabled Americans from across the income spectrum to attend college and the nation led the world in the percentage of young adults with baccalaureate degrees. Yet since 1980, progress has stalled. Young adults from low to middle income families are not much more likely to graduate from college than four decades ago. When less advantaged students do attend, they are largely sequestered into inferior and often profit-driven institutions, from which many emerge without degrees—and shouldering crushing levels of debt. In Degrees of Inequality, acclaimed political scientist Suzanne Mettler explains why the system has gone so horribly wrong and why the American Dream is increasingly out of reach for so many. In her eye-opening account, she illuminates how political partisanship has overshadowed America’s commitment to equal access to higher education. As politicians capitulate to corporate interests, owners of for-profit colleges benefit, but for far too many students, higher education leaves them with little besides crippling student loan debt. Meanwhile, the nation’s public universities have shifted the burden of rising costs onto students. In an era when a college degree is more linked than ever before to individual—and societal—well-being, these pressures conspire to make it increasingly difficult for students to stay in school long enough to graduate. By abandoning their commitment to students, politicians are imperiling our highest ideals as a nation. Degrees of Inequality offers an impassioned call to reform a higher education system that has come to exacerbate, rather than mitigate, socioeconomic inequality in America.
Book Synopsis Degrees of Inequality by : Suzanne Mettler
Download or read book Degrees of Inequality written by Suzanne Mettler and published by Basic Books (AZ). This book was released on 2014-03-11 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: America’s higher education system is failing its students. In the space of a generation, we have gone from being the best-educated society in the world to one surpassed by eleven other nations in college graduation rates. Higher education is evolving into a caste system with separate and unequal tiers that take in students from different socio-economic backgrounds and leave them more unequal than when they first enrolled. Until the 1970s, the United States had a proud history of promoting higher education for its citizens. The Morrill Act, the G.I. Bill and Pell Grants enabled Americans from across the income spectrum to attend college and the nation led the world in the percentage of young adults with baccalaureate degrees. Yet since 1980, progress has stalled. Young adults from low to middle income families are not much more likely to graduate from college than four decades ago. When less advantaged students do attend, they are largely sequestered into inferior and often profit-driven institutions, from which many emerge without degrees—and shouldering crushing levels of debt. In Degrees of Inequality, acclaimed political scientist Suzanne Mettler explains why the system has gone so horribly wrong and why the American Dream is increasingly out of reach for so many. In her eye-opening account, she illuminates how political partisanship has overshadowed America’s commitment to equal access to higher education. As politicians capitulate to corporate interests, owners of for-profit colleges benefit, but for far too many students, higher education leaves them with little besides crippling student loan debt. Meanwhile, the nation’s public universities have shifted the burden of rising costs onto students. In an era when a college degree is more linked than ever before to individual—and societal—well-being, these pressures conspire to make it increasingly difficult for students to stay in school long enough to graduate. By abandoning their commitment to students, politicians are imperiling our highest ideals as a nation. Degrees of Inequality offers an impassioned call to reform a higher education system that has come to exacerbate, rather than mitigate, socioeconomic inequality in America.
