EAN: 9781324004219

PEOPLE POWER AND PROFITS - JOSEPH E STIGLITZ GE...

From Nobel Prize-winning economist and bestselling author Joseph Stiglitz  this account of the
dangers of free market fundamentalism reveals what has gone so wrong  but also shows us a way
out.We all have the sense that our economy tilts toward big business  but as Joseph E. Stiglitz
explains in People  Power and Profits  a few corporations have come to dominate entire sectors
contributing to skyrocketing inequality and slow growth. This is how the financial industry has
managed to write its own regulations  tech companies have accumulated reams of personal data
with little oversight  and government has negotiated trade deals that fail to represent the
best interests of workers. Too many have made their wealth through exploitation of others
rather than through wealth creation. If something isn't done  new technologies may make matters
worse  increasing inequality and unemployment.Stiglitz identifies the true sources of wealth
and increases in standards of living  based on learning  advances in science and technology 
and the rule of law. He shows that the assault on the judiciary  universities  and the media
undermines the very institutions that have long been the foundation of economic prosperity and
democracy.Helpless though we may feel today  we are far from powerless. In fact  the economic
solutions are often quite clear. We need to exploit the benefits of markets while taming their
excesses  making sure that markets work for people and not the other way around. If enough
rally behind this agenda for change  we can create a progressive capitalism that will recreate
a shared prosperity. Stiglitz shows how a decent middle-class life can once again be attainable
by all.

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