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Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity

4.08  ·  Rating details ·  220 ratings  ·  24 reviews
Inequality is a choice.


The United States bills itself as the land of opportunity, a place where anyone can achieve success and a better life through hard work and determination. But the facts tell a different story—the U.S. today lags behind most other developed nations in measures of inequality and economic mobility. For decades, wages have stagnated for the majority of w
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ebook, 256 pages
Published November 2nd 2015 by W. W. Norton Company
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Ian The link no longer works and it appears that the pdf file isn't available on Professor Stiglitz's Columbia website; only a link to the publisher's web…moreThe link no longer works and it appears that the pdf file isn't available on Professor Stiglitz's Columbia website; only a link to the publisher's website for the book among descriptions with similar links to his other books. https://www8.gsb.columbia.edu/faculty...(less)
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Hannah
Jun 13, 2016 rated it really liked it  ·  review of another edition
4 Stars - Incredible book.

Joseph E. Stiglitz is a well-known American economist and academic. In one of his most recent pieces he discusses his thesis: inequality is a choice - economic inequality that is. He does not argue, for example, that I as a woman choose to be paid less than a man. No, that would be a ridiculous argument and I would have tossed the book out the window if he had ever even hinted at that idea (or that African Americans choose to be paid less/have less economic advantage th
...more
Kyle Minton
Oct 04, 2016 rated it it was amazing  ·  review of another edition
ReWriting the Rules of the American Economy by Joseph Stiglitz

When the 2008 financial crisis struck, Noam Chomsky, influential leftist intellectual extraordinaire (and arguably a dying breed), recommend the United States government enlist Joseph Stiglitz to help drive the recovery as, at the very least, an ideological consultant. Even though the government uncharacteristically ignored the recommendation, the American public should most certainly not. Especially the American left. We should be pa
...more
Jim
Jan 25, 2016 rated it did not like it  ·  review of another edition
I read this book because I think there are problems with the US economy which need to be addressed. Specifically, I think the divide between middle class and CEO pay, the ratio of which has expanded exponentially over the years. I feel that the work of middle class needs to be valued and their pay needs to be raised, though as shown throughout history, taxation of the rich does not make the poor more wealthy. I read this book with the hopes on some fresh ideas on how to rebalance the earnings of ...more
Stan Murai
Apr 10, 2017 rated it really liked it  ·  review of another edition
Joseph Stiglitz, a Nobel laureate, with his colleagues
Nell Abernathy, Adam Hersh, Susan Holmberg and Mike
Konczal, have written a book to explain what is wrong
with the American economy with an agenda to change it.
The message is simple and clear: Inequality is choice.
The runaway flow of wealth to the top one percent is
governed by rules which need to be rewritten to restore
security and opportunity for the middle class and to
ensure strong growth and shared prosperity for all.

The United Stat
...more
Sandy
Dec 01, 2017 rated it it was amazing  ·  review of another edition
This was published in 2016 and I'm assuming Stiglitz and his team of researchers presumed they'd be addressing these very sensible policy changes to a Democratic administration. Of course, that's not how things worked out, so while I find these recommendations to be very smart and probably quite workable in some alternate universe--where Trump is not president and where our legislators are not a clown-car full of Ayn Randian government-hating zealots and dopey theocrats--to read it now is sort o ...more
kapil
Oct 30, 2016 rated it really liked it  ·  review of another edition
Shelves: non-fiction
While the author makes good arguments to prove that inequality is a choice (reduction of coorporate taxes, less unions), throughout the book he has cherry picked the data.
And at other places I don't agree with him ideologically - when he argues that giving citizenship to undocumented labor will increase their bargaining power but I don't consider giving citizenship to illegal immigrants ethically sound at first place. Also when he mixes race and class - blacks have higher poverty level but he sh
...more
Kate
Mar 16, 2017 rated it it was amazing  ·  review of another edition
Shelves: economy
I really enjoyed this book as a brief and yet deep perspective on how the American economy has been structured to enable inequality. Stiglitz presents both the historical relevant policy modes and associated actions by corporations, governments, and citizens. He balances this with recommendations on how we can move forward to overhaul our economic structure and financial structure towards something that will promote greater equality and inclusion.

This book left me wanting to revisit all of my e
...more
Vlad
May 02, 2017 rated it it was amazing  ·  review of another edition
Excellent analysis. It spells out in great detail why the poverty and inequality has risen in America. Bottom-line: it's greed, it's the failures capitalism, it's exploitation. Solution: rewriting the rules, including a full-on "attack" on the 1%.

However, one disappointment I have with the solutions proposed is that they do not mention at all an UNIVERSAL BASIC INCOME proposal and a cap to maximum personal income.
Morgan
Apr 27, 2018 rated it really liked it  ·  review of another edition
This was a thorough and important report on the economic structures that created and continually reinforce inequality, short-termism, and slowed economic growth; and how we can reshape regulations and policies to mitigate these factors. Learned a lot from this book, and highly recommend it.
Paul Marshall
Jul 28, 2016 rated it it was amazing  ·  review of another edition
Economic and social change with a heart and a brain

Here is the plan I've been looking for. Real ideas not just platitudes. Deep research and targeted plans for a future I can live with.
Colin Lippy
May 01, 2018 rated it it was amazing  ·  review of another edition
Excellent explanation of our current situation, how we got here, and what we have to do to fix it.
Andrew
Jun 22, 2015 rated it it was amazing  ·  review of another edition
Rent-seeking is a real bummer! Read this for free online and find out what to do about it.
Ryan
Feb 15, 2016 rated it it was amazing  ·  review of another edition
Just read this. The man has a Nobel Prize for a reason.
Mayor
Nov 04, 2015 rated it really liked it  ·  review of another edition
If only ... well written and thought thru
David02139
Apr 13, 2017 rated it really liked it  ·  review of another edition
Good description on what has been done to increase the gap in wealth and what can be done about it. Short read on suggestions and why what has been done in the past has not worked.
Bill
Apr 12, 2017 rated it really liked it  ·  review of another edition
Good ideas about concrete prescriptions for reforming the American economy. A little longer than it needed to be, I thought.
Liang Gang Yu
Feb 17, 2017 rated it really liked it  ·  review of another edition
I picked up the book when I ran into it in the library. Nobel prize winner Joseph Stiglitz, the author, has many publications influenced my view on economies. This book covers a timely topic - inequality and growth.

I am convinced that inequality is a choice, and we can effectively address inequality by changing the rules of Economy. The book contains sparse data to support this idea. However, I am not satisfied with the explanation that economy will also grow fast with those new rules. No convin
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christina
Mar 17, 2017 rated it liked it  ·  review of another edition
Shelves: non-fiction
Great book if you want to be reinforced in your views about the inequalities that have divided America from the haves and have nots. Pretty good book if you want to get a exhausting list of the things that need to change in order to see that inequality dissipate. Useless book if you want realistic plans for implementing any of the changes Stiglitz believes is required to balance inequality and promote prosperity for all.

How now, brown cow?
John  Mihelic
Two of the left’s leading lights in terms of economic thinking have books that came out recently. I’m not sure what the order was, but Robert Reich blew up my Facebook timeline promoting his new book “Saving Capitalism from the Capitalist”. Stiglitz hits many of the same points here in “Rewriting the Rules of the American Economy”.

This book has its roots in a report from the Roosevelt Institute, and its layout and overall tone belie the audience. It was written more towards policy makers and a
...more
B.
Jun 08, 2016 rated it liked it  ·  review of another edition
I listened to the audio book and it read like a laundry list of policy recommendations, which makes sense since the book is based on an actual policy proposal. In the first part he does review the causes of the 2008 economic crisis, providing the needed context for understanding the policy agenda, but overall, as you might guess, this does not make for very engaging reading. One prominent idea expressed in its pages is captured by the slogan, "Inequality is a choice", a clever way of countering ...more
John Doyle
I am sympathetic to the central claim of this book that income inequality is a serious threat to American society. I am also supportive of many of the policy ideas advanced by the author, including changes to the tax code and political fundraising rules. However, for me the book itself was disappointingly one-sided in its framing of issues and interpretation of data. For example, the notion that intellectual property rules are the reason drugs cost too much and that IP protection should therefor ...more
Sheryl
Jun 03, 2016 rated it really liked it  ·  review of another edition
Great insight! If only we could change all the rules and follow it..
Lauren
Mar 03, 2016 rated it really liked it  ·  review of another edition
Great to read during the election cycle. If only these suggestions were enacted. If only every politician read this book.
Ashley
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Larry Hitchon
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Joseph Eugene Stiglitz, ForMemRS, FBA, is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is also the former Senior Vice President and Chief Economist of the World Bank. He is known for his critical view of the management of globalization, free-market economists (whom h ...more

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