Joseph E. Stiglitz

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In *The Price of Inequality*, Nobel Prize-winning economist Joseph E. Stiglitz reveals that America’s extreme inequality isn’t an inevitable outcome of capitalism—it’s a deliberate product of rigged policy choices. Drawing on post-2008 crisis data, he details how the top 1% seized over 65% of national income growth while the middle class stagnated and low-income families faced collapsing upward mobility. Stiglitz unpacks core drivers: rent-seeking by corporations and elites, regulatory capture of financial and political institutions, regressive tax policies, and the erosion of labor protections. He argues this inequality undermines economic efficiency, distorts democracy into a "one dollar, one vote" system, and erodes social trust. Beyond diagnosis, Stiglitz outlines actionable fixes: progressive tax reform, stricter financial regulation, strengthening labor unions, investing in public education and healthcare, and overhauling campaign finance to reclaim democratic integrity. A searing critique of America’s broken systems, this book makes an urgent case for rebuilding a society where prosperity is shared by all.