Friday, March 18, 2016
Stiglitz on inequality
See this excerpt from his book The Price of Inequality. Inequality is not a result of the 'natural' forces of the marketplace but intentionally designed to drain wealth from society and give it to those in power. A lot of it has to do with the Enlightenment worship of the individual, and the specious notion that those at the top deserve it due to their own herculean efforts. What those at the top did learn was how to manipulate the government to do their bidding, rigging the system in their favor at the expense of everyone else. See the article for a much more detailed analysis.