The price of inequality
Inequality is the cause and consequence of the failure of the political system, it contributes to the instability of our economic system, which in turn contributes to increasing inequality. The author recognizes a global crisis that increases inequality, inhibits growth, and massively restricts equal opportunities. The gap between rich and poor continues to widen, and the global financial and economic crisis does not change anything. On the contrary, even in times of crisis, politics and economics seem to be more one-sidedly following the interests of the super-rich, while many people are getting worse and worse.
The aim is to shed light on the close integration of politics and the economy and to make it clear that the growing inequality also damages the economy. It is about illuminating the close integration of politics and the economy and making it clear that the growing inequality also damages the economy. In his preface, Stiglitz develops his central claims. He specifically addresses America and outlines the causes of increasing inequality through an economic system that is less stable, less efficient and less viable. The governments do little to curb the markets, but carry more or less special interests. People are increasingly experiencing injustice, such as the different educational opportunities of different social classes. There is less equality of opportunity in America today. However, this inequality threatens the future of the US, because the vast majority of the population cannot spend money and thus cannot boost the economy. This inequality not only hampers business and growth, It also means that equal opportunities are steadily declining.
The emergence of social inequality is largely the consequence of today’s existing inequality as a result of government policy that would not be largely due to market forces. Apart from the great injustice that Stiglitz wants to fight, he explains in his book the causes that the inequality in the US has not fallen from the sky, it was made. The author shows how the top one uses his power through lobbying, the development of monopolies and influencing politics and the judiciary in order to gain more and more money, power and influence. The winners in this system are the corporations, banks and insurance companies that share the money among themselves. If they donate, then for the election campaign to influence politics. When interest groups hold too much power in their hands, it manages to achieve a policy that serves them and not society as a whole.