In his book "The Price of Inequality," Joseph E. Stiglitz warns that the growing gap between rich and poor in modern societies is reaching alarming levels. He highlights that such inequality is a characteristic of dysfunctional societies, which typically struggle with social cohesion and stability. Stiglitz points out that several countries, including Iran, Jamaica, Uganda, and the Philippines, exemplify these detrimental effects of inequality, suggesting that we should strive to avoid this troubling trend.

Stiglitz’s argument serves as a call to action, emphasizing the importance of addressing economic disparities to ensure a healthier societal framework. He implies that unchecked inequality can lead to dire consequences, impacting future generations and the overall well-being of society. By recognizing the warning signs and working towards a more equitable distribution of wealth, we can protect our society from descending into the challenges faced by those nations marked by severe inequality.