Critique Responding to Stiglitz

Topics: Investment, Working class, Politics Pages: 3 (1004 words) Published: September 24, 2013

Critique Responding to Stiglitz

From reading this book “The Price of Inequality”, by Joseph E. Stiglitz it is clear from the start that the socio-economic financial troubles that the United States finds itself facing is not the makings of one sole political belief system. To the contrary it is in fact the all-encompassing fault of how they all strictly view the situation and steadfastly defend their reasoning of the causes and solutions without any degree of give or leeway to opposing points of view. Both sides rally around their base and support systems and the lobbying groups that spin their particular belief system through the political campaign monetary exchange system of you scratch my back and we will support you in future elections. Stiglitz appears not to take any particular side one way or the other. He simply sees it as everyone’s fault for the country’s present financial predicaments. With most of the population seeing no answer to our problems in the near future, Stiglitz can put a somewhat of a positive spin; in that, politics are always subject to change.

Stiglitz points out many of the crisis points to affect our past economic history, from the Great Depression to the now Great Recession, the Technology Bubble, the Housing Bubble, the Global Financial Crisis of 2008, and the so-called Fiscal-Cliff Era with federal deficit levels that challenge our national GDP and unemployment so high that they no longer reflect the work force that has stopped looking for jobs. Stiglitz recognizes the roles these conditions and man-made circumstances have played in the financial inequities that now exist throughout his discussion of the inequity situation. But, he sees the underlying cause for the continued and ever increasing divide that has become this two-tiered socio-economic system of the 1% Haves and the 99% Have-nots that plagues the political atmosphere as the core to the inequities. To Stillitz politics on both sides of the aisle through the...
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