Summary
Joseph Stiglitz: The Great Divide
Inequality societies and what to do with them
The "Great Divide" according to the interpretation of the paradigmatic Nobel laureate and former president of the World Bank, Joseph Stiglitz, is only a metaphor for the growing economic differences between people: both in terms of property and income. In the book in front of you, they are presented very convincingly first of all using the example of the USA, but they are also listed as a bad global tendency that has been going on for the last four decades. Escalation of inequality to extremes is partly the cause of slow economic growth, but slow growth and inequality are "matters of political choice". They reproduce the state of a vicious circle in which institutions, laws, the taxation system, and even elections, are subordinated to the interests of the top 1% of the population. That 1%, which in the USA has close to 22% of the wealth (and the richest 0.1% with about 11%), succeeds thanks to the concentration of power to further increase inequality and an insurmountable gap, and even the physical separation of rich neighborhoods in relation to poor parts of cities, with the rationale of protecting the maintenance of public goods or enabling a favorable social and cultural environment for the development of their children.
Biblos Newsletter
New titles, special copies and quiet recommendations from the antiquarian bookshop.