The economic elite have pushed for a framework that benefits them at the expense of the rest, but it is an economic system that is neither efficient nor fair. I explain how our inequality gets reflected in every important decision that we make as a nation-from our budget to our monetary policy, even to our system of justice-and show how these decisions themselves help perpetuate and exacerbate this inequality.13 Given
In "The Price of Inequality," Joseph E. Stiglitz argues that the economic elite have shaped a system that prioritizes their interests over those of the general population. This framework creates significant disparities in wealth and opportunity, leading to an economy that is both inefficient and unjust. Stiglitz emphasizes that the choices made at a national level—ranging from budget allocations to monetary policies—are heavily influenced by these inequalities.
Stiglitz further explains that the repercussions of such decisions extend beyond economic metrics, infiltrating the justice system and other critical societal structures. This cycle of inequality not only hinders fair treatment but also reinforces the existing disparities, ensuring that the divide continues to grow. His analysis sheds light on how these systemic issues contribute to a fractured society, ultimately endangering our future.
