Joseph Stiglitz is a Nobel Prize-winning economist and professor at Columbia University. He was recently interviewed on Democracy Now by Amy Goodman. He discussed his recent claim, in an article in Vanity Fair, that America is rapidly becoming “Of the 1, by the 1, for the 1%”. He explained that while income and wealth have increased dramatically for the top 1% of Americans, that of the rest of us has been static or declining. He continues to explain many of the bad outcomes from this that are already occurring (decreasing education levels our children relative to the rest of the world, failure of many Democrats to see that taxing the top 1% would permit continuation of the social spending now being threatened, manipulation of governmental regulations by the very wealthy to protect their gains from taxation, special deals permitting cheap mining on public lands by private firms, and still others. For a great looks by a very respected economist at what is so terribly wrong in our country now, read the interview at http://www.democracynow.org/2011/4/7/nobel_economist_joseph_stiglitz_assault_on
Stiglitz on Dangers from Wealth Inequality in America
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