Joseph E. Stiglitz in "The Price of Inequality" argues that the current economic system is failing many individuals, leaving them without jobs or trapped in low-wage positions. This situation results in a significant portion of the population relying on government assistance for basic needs, such as food. Stiglitz suggests that these outcomes indicate a malfunction in the economic system, as it is not providing sufficient opportunities for all citizens.

Furthermore, Stiglitz emphasizes the government's necessary role in addressing these economic failures. When the system does not deliver a livable wage or adequate employment for everyone, government intervention becomes crucial to support those in need. His perspective highlights the disconnect between economic ideals and the realities faced by many, pointing to the urgent need for reforms to create a more equitable society.