In his book "The Price of Inequality," Joseph E. Stiglitz reflects on the significant shift in income distribution over the past three decades. He notes that thirty years ago, the wealthiest 1 percent of earners accounted for just 12 percent of the nation's total income. This statistic highlights a more equitable distribution of wealth and suggests that income disparity was much less pronounced at that time.

Stiglitz emphasizes that the dramatic rise in income concentration among the top earners has serious implications for society. The growing divide undermines economic stability and social cohesion, creating risks for the future. By analyzing this shift, he urges a reevaluation of policies that have contributed to rising inequality and calls for measures to restore balance and fairness in income distribution.