Rewriting the rules of the American economy
Joseph E. Stiglitz

Rewriting the rules of the American economy

an agenda for growth and shared prosperity

First edition.

Published .
Written in English.

About the Book

"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 workers while economic gains have disproportionately gone to the top one percent. Education, housing, and health care--essential ingredients for individual success--are growing ever more expensive. Deeply rooted structural discrimination continues to hold down women and people of color, and more than one-fifth of all American children now live in poverty. These trends are on track to become even worse in the future. Some economists claim that today's bleak conditions are inevitable consequences of market outcomes, globalization, and technological progress. If we want greater equality, they argue, we have to sacrifice growth. This is simply not true. American inequality is the result of misguided structural rules that actually constrict economic growth. We have stripped away worker protections and family support systems, created a tax system that rewards short-term gains over long-term investment, offered a de facto public safety net to too-big-to-fail financial institutions, and chosen monetary and fiscal policies that promote wealth over full employment." --

About the Edition

"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 workers while economic gains have disproportionately gone to the top one percent. Education, housing, and health care--essential ingredients for individual success--are growing ever more expensive. Deeply rooted structural discrimination continues to hold down women and people of color, and more than one-fifth of all American children now live in poverty. These trends are on track to become even worse in the future. Some economists claim that today's bleak conditions are inevitable consequences of market outcomes, globalization, and technological progress. If we want greater equality, they argue, we have to sacrifice growth. This is simply not true. American inequality is the result of misguided structural rules that actually constrict economic growth. We have stripped away worker protections and family support systems, created a tax system that rewards short-term gains over long-term investment, offered a de facto public safety net to too-big-to-fail financial institutions, and chosen monetary and fiscal policies that promote wealth over full employment." --

Table of Contents

Preface
Introduction
The current rules
More market power, less competition
The growth of the financial sector
The "shareholder revolution", the rise of ceo pay, and the squeezing of workers
Lower taxes for the wealthy
The end of full-employment monetary policy
The stifling of worker voice
The sinking floor of labor standards
Racial discrimination
Rewriting the rules
Taming the top
Make markets competitive
Fix the financial sector
Incentivize long-term business growth
Rebalance the tax and transfer system
Growing the middle
Make full employment the goal
Empower workers
Expand access to labor markets and opportunities for advancement
Expand economic security and opportunity
Conclusion
Appendix: overview of recent inequality trends
Acknowledgments
Notes.

Edition Notes

"A Roosevelt Institute book."

Includes bibliographical references (pages [191]-237).

Classifications

Dewey Decimal Class
330.973
Library of Congress
HC106.84 .S75 2016

The Physical Object

Pagination
xvii, 237 pages
Number of pages
237

ID Numbers

Open Library
OL27197178M
ISBN 10
0393254054, 0393353125
ISBN 13
9780393254051, 9780393353129
LC Control Number
2015037496
OCLC/WorldCat
921167501

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History

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