Joseph Stiglitz : The Great Divide Growing Wider

'Great Divide' Growing Wider as Inequality Rises Says Joseph Stiglitz






America has more inequality than any of the other advanced countries and it's only getting worse, said Joseph Stiglitz, author of 'The Great Divide' and Nobel Prize winning economist. Stiglitz added that America also excels at inequality when it comes to opportunity. He said the shift started during the Reagan administration with introduction of supply side economics and increasing deregulation. Stiglitz said the opening of China and technology gains also played a role in the dislocation of the American middle class, yet globalization has failed to make the nation wealthier and raise the middle class. Finally, Stiglitz said the best ways to narrow the 'Great Divide' is through education, a change in tax policies and stricter anti-trust laws.


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