Joseph Stiglitz is a Nobel prize economist, a rich person, and he is not wanting complete equality. No. He wants less inequality as he see this as destabilizing society that lead to social unrest and disasters.
So, he write books. He tried to tell normal people how the system is cheating people. How deregulation by government only help the rich to get richer, and suffer the little poor people. He would point out how the US made the mistake of privatization of public resources. How privatizing electricity lead to California shortage. How government paid twice as much for private company to do the same thing in replace of civil servants.
That's what he is trying to tell you. The rich knows it, as a lot of them get richer that way. The poor is being fooled by public propaganda from the rich to let them vote against their own interest.
Big government is good with stability. Big government regulation make cheating harder. That's what a lot of economists, who still have good in them trying to tell the public.
Not finished yet. But as my account in GR got deleted. So did my review for this book.
So this is a start over.
This is another must read.
The explanation on how the 99% being cheated by the system. The tax system favored the 1%. Not fair.
If the 1% pay as much tax as the rest of society, there are so much more money to spend on education, health care for all, and still have money left to make life better for everyone.
Countries that invested in the people, make them happier with universal health care coverage, make the society better.
The rent is a term that the rich, especially the top 1% take advantage of, from the rest of society. The air wave is given to broadcasting companies. They should be a commodity that sell to much higher price. This is rent.
Oil drilling destroy environment that has caused everyone. So, put a price on it and make it a balance. Not taxing for pollution is subsidizing for the rich. Not fair. Tax them and limit their exploitation.
Must read for all. Especially if you are interest on the bail out of US banks.