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Joseph Stiglitz
Joseph Stiglitz
Professor of Economics, Columbia University
The Price of Inequality
The Price of Inequality
In America today, the top 1% take home more than a fifth of the country's income, and the top .1% take home more than 11%. In the "recovery" since the end of the financial crisis and the Great Recession that followed, the top 1% has taken home 95% of the increase in income. Meanwhile, Americans in the middle earn less, adjusted for inflation, than they did 25 years ago. These wild imbalances should trouble our morals, but they also pose huge economic and social challenges. In this talk, Nobel Laureate and Columbia University professor Joseph E. Stiglitz will draw on the analysis of his book The Price of Inequality to explain how America's historic inequality is holding back our growth, promoting instability, depressing our well-being, distorting our democracy, and damaging our society, by reducing trust and social cohesion. Stiglitz argues that another path is possible, but to take it, our policymakers must wake up to the catastrophe of extreme inequality in America.
The Ellington
936 Amsterdam Avenue
New York, NY 10025, USA
Bio
Joseph E. Stiglitz is the winner of the 2001 Nobel Memorial Prize in Economics, and a lead author of the 1995 IPCC report, which shared the 2007 Nobel Peace Prize. He was chairman of the U.S. Council of Economic Advisors under President Clinton and Chief Economist and Senior Vice President of the World Bank for 1997-2000. Stiglitz received the John Bates Clark Medal, awarded annually to the American economist under 40 who has made the most significant contribution to the subject. He was a Fulbright Scholar at Cambridge University, held the Drummond Professorship at All Souls College Oxford, and has also taught at M.I.T, Yale, Stanford, and Princeton.