Bruce Snyder's Reviews > The Price of Inequality: How Today's Divided Society Endangers Our Future

The Price of Inequality by Joseph E. Stiglitz
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Sep 13, 2012

it was amazing

Turns out that dog-eat-dog, unregulated capitalism ultimately destroys not only the poor and the middle-class, but eventually the 1% as well. Carnegie's insight that lead to his "Gospel of Wealth" recognized the obligation the wealthy had to improve the society that allowed their accumulation of great wealth. Stiglitz takes us one step further in noting that eventually the whole economy self-destructs if there are no regulations to control the amoral profit-motivated "free market". Total freedom for the pike is death not only to the minnow, as John Stuart Mill pointed out, but also to the medium-sized fish, and eventually the pike as well, who will eat their own young.
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