Review: The Price of Inequality: How Today's Divided Society Endangers Our Future

The Price of Inequality: How Today's Divided Society Endangers Our Future by Joseph E. Stiglitz

My rating: 4 of 5 stars





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- Your Highlight on Page 11-11 | Added on Friday, January 10, 2014 10:00:47 PM

THERE ARE MOMENTS IN HISTORY WHEN PEOPLE ALL over the world seem to rise up, to say that something is wrong, to ask for change.
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- Your Highlight on Page 26-26 | Added on Friday, January 10, 2014 10:22:08 PM

America had created a marvelous economic machine, but evidently one that worked only for those at the top
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- Your Highlight on Page 33-33 | Added on Friday, January 10, 2014 10:28:17 PM

One or the other will have to give—either our politics or our economics.
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23. Roy Chapman Andrews (Under a Lucky Star (1943)(1945))
- Your Bookmark Location 7 | Added on Friday, January 10, 2014 10:29:18 PM


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- Your Highlight on Page 45-45 | Added on Saturday, January 11, 2014 10:52:20 AM

If no one is accountable, if no individual can be blamed for what has happened, it means that the problem lies in the economic and political system.
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- Your Highlight on Page 59-59 | Added on Saturday, January 11, 2014 8:40:46 PM

But years after the breaking of the bubble, it became clear that our political system had failed, just as it had failed to prevent the crisis, to check the growing inequality, to protect those at the bottom, to prevent the corporate abuses
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- Your Highlight on Page 60-60 | Added on Saturday, January 11, 2014 8:41:20 PM

Real democracy is more than the right to vote once every two or four years. The choices have to be meaningful. The politicians have to listen to the voices of the citizens
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- Your Highlight on Page 67-67 | Added on Saturday, January 11, 2014 8:45:39 PM

for a democracy where people, not dollars, matter
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Eckhart Tolle - Nova Zemlja
- Your Bookmark on Page 4 | Added on Monday, January 13, 2014 8:27:00 AM


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- Your Highlight on Page 130-130 | Added on Thursday, January 16, 2014 8:53:47 PM

The top 1 percent get in one week 40 percent more than the bottom fifth receive in a year; the top 0.1 percent received in a day and a
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- Your Highlight on Page 131-131 | Added on Thursday, January 16, 2014 8:53:58 PM

half about what the bottom 90 percent received in a year; and the richest 20 percent of income earners earn in total after tax more than the bottom 80 percent combined
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- Your Bookmark on Page 130 | Added on Thursday, January 16, 2014 8:54:32 PM


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- Your Highlight on Page 146-146 | Added on Sunday, January 19, 2014 1:25:34 PM

trickle-up economics may: all—even those at the top—could benefit by giving more to those at the bottom and the middle
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- Your Highlight on Page 167-167 | Added on Monday, January 20, 2014 6:10:01 PM

Not surprisingly, more than half of the unemployed had experienced emotional or health problems as a result of being jobless but could not get treatment, since more than half of the unemployed had no health insurance coverage.
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- Your Highlight on Page 244-244 | Added on Saturday, February 22, 2014 9:44:53 PM

We now see that, for most Americans, the economy wasn’t really performing as it should even before the recession
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The_Price_of_Inequality_How_Today_39_s_Div_Joseph_
- Your Highlight on Page 253-253 | Added on Saturday, February 22, 2014 9:55:04 PM

As the ancient Greek historian Thucydides famously said, “right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must
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- Your Highlight on Page 1650-1650 | Added on Saturday, February 22, 2014 9:57:41 PM

it’s because those in power have an understanding of their own long-term interests—and the longterm interests of those they are supposed to serve.
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- Your Highlight on Page 1651-1651 | Added on Saturday, February 22, 2014 9:57:51 PM

The elites of nineteenthcentury countries that extended education must have known that there was a risk that this would over the long run weaken their dominance of the political franchise; yet the short-term economic advantages of having a more educated workplace seem to have dominated the longterm political consequences
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- Your Highlight on Page 254-254 | Added on Saturday, February 22, 2014 10:00:41 PM

They also attempted to shape thinking, to make acceptable differences in income that would otherwise be odious.
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- Your Highlight on Page 266-266 | Added on Saturday, February 22, 2014 10:08:05 PM

Jean-Baptiste Colbert, the adviser to King Louis XIV of France, reportedly said, “The art of taxation consists in so plucking the goose as to obtain the largest amount of feathers with the least possible amount of hissing.” So, too, for the art of rent seeking.
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The_Price_of_Inequality_How_Today_39_s_Div_Joseph_
- Your Highlight on Page 266-266 | Added on Saturday, February 22, 2014 10:08:17 PM

there are two ways to become wealthy: to create wealth or to take wealth away from others
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- Your Highlight on Page 271-271 | Added on Saturday, March 22, 2014 3:30:11 PM

At most, it led to the bankers’ well-being, with the rest of society bearing the cost. It wasn’t even what economists call a zero-sum game, where what one person gains exactly equals what the others lose. It was a negative-sum game, where the gains to winners are less than the losses to the losers. What the rest of society lost was far, far greater
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- Your Highlight on Page 277-277 | Added on Saturday, March 22, 2014 3:37:24 PM

Only if the government does a reasonably good job of correcting the most important market failures will the economy prosper
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- Your Highlight on Page 290-290 | Added on Saturday, March 22, 2014 4:02:44 PM

Each poor person might have only a little, but there are so many poor that a little from each amounts to a great deal. Any sense of social justice—or any concern about overall efficiency—would have led government to prohibit these activities.
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- Your Highlight on Page 292-292 | Added on Saturday, March 22, 2014 4:05:58 PM

Modern capitalism has become a complex game, and those who
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- Your Highlight on Page 293-293 | Added on Saturday, March 22, 2014 4:06:04 PM

win at it have to have more than a little smarts
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- Your Highlight on Page 1662-1662 | Added on Saturday, March 22, 2014 4:07:43 PM

While what is “unfair” or “unethical” depends on “norms,” and there may be disagreements about what is or is not fair
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- Your Highlight on Page 315-315 | Added on Saturday, March 22, 2014 6:24:37 PM

As we’ve seen, it’s easy to get rich by getting a state asset at a deep discount
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- Your Highlight on Page 343-343 | Added on Tuesday, March 25, 2014 1:40:14 PM

The problem is that leaders in these sectors use their political influence to get people appointed to the regulatory agencies who are sympathetic to their perspectives
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- Your Bookmark on Page 366 | Added on Tuesday, March 25, 2014 7:59:31 PM


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- Your Bookmark on Page 366 | Added on Tuesday, March 25, 2014 7:59:34 PM


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The_Price_of_Inequality_How_Today_39_s_Div_Joseph_
- Your Highlight on Page 397-397 | Added on Friday, March 28, 2014 6:27:24 PM

we’ll also see other examples of how government helps shape market forces—in ways that help some, at the expense of others
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- Your Highlight on Page 398-398 | Added on Friday, March 28, 2014 6:27:46 PM

often, the ones who are helped are those at the top.
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- Your Highlight on Page 411-411 | Added on Saturday, April 12, 2014 1:15:15 PM

When we wonder how it is that the financiers get so much wealth, part of the answer is simple: they’ve helped write a set of rules that allows them to do well, even
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- Your Bookmark on Page 427 | Added on Saturday, April 12, 2014 1:22:01 PM


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The_Price_of_Inequality_How_Today_39_s_Div_Joseph_
- Your Highlight on Page 443-443 | Added on Saturday, April 12, 2014 5:34:10 PM

The forces we have just described, including weaker unions and weaker social cohesion working with corporate governance laws that give management enormous discretion to run corporations for their own benefit, have led not only to a declining wage share in national income but also to a change in the way our economy responds to an economic downturn
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- Your Highlight on Page 448-448 | Added on Saturday, April 12, 2014 5:45:03 PM

Over the past forty years, a number of theories have been developed to help explain the persistence of discrimination
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- Your Highlight on Page 472-472 | Added on Thursday, May 29, 2014 9:57:42 AM

The rich and superrich often use corporations to protect themselves and shelter their income, and they have worked hard to ensure that the corporate income tax rate is low and the tax code is riddled with loopholes
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- Your Highlight on Page 1506-1506 | Added on Thursday, May 29, 2014 10:01:29 AM

Throughout this book, I’ve emphasized that what matters is not just growth, but what kind of growth (or, as it’s sometimes put, the quality of growth)
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- Your Highlight on Page 1522-1522 | Added on Thursday, May 29, 2014 10:03:30 AM

we will never create a system with full equality of opportunity; but we can at least create more equality of opportunity
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