We attended Nobel-prize winning economist Joseph Stiglitzs talk at town hall last night. Fascinating night. Some info: In the US, 95% of increase in income went to upper %1 between 2009-2012. Productivity is up, even post-GFC, but the gains are not reaching the typical worker, with an increasing gap between productivity and wages. Other interesting thing is that The extent of inequality in the US and many advanced countries actually undermines economic performance.... Adverse consequences of inequality: Undermines democracy, divides society and weakens our economy. He said the aim was not total equality but to avoid the extremes now seen in places like the US where one family alone owns more than the bottom 30-40% of the population. I look forward to reading his book, The Price of Inequality.
Posted on: Tue, 08 Jul 2014 22:43:24 +0000
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