Joseph Stiglitz

In his book, The Price of Inequality: How Today’s Divided Society Endangers Our Future, Joseph E. Stiglitz addresses the pressing topic of America’s economic situation. When one reads the title, one can understand what Stiglitz is about to argue; however, one must actually open the book in order to understand how America is spiraling into economic disaster because of economic inequality. He claims that if we, as a country, do not repair the serious inequality in income and financial positions, then this country will be financially ruined by “undermining [its] growth and impairing [its] efficiency” (Stiglitz, 6). Joseph E. Stiglitz is an American economist who currently works at Columbia University as a professor. In 1979, he “was awarded the…

The Obstacles of Becoming Elite The elite within society are a small group of people who have access to many benefits that those ranked lower than them don’t have access to. This gives those at the top privilege, but this privilege is maintained by the institutions within society. Karen Ho introduces the idea of “smartness”, and how this label defines who is elite within society. She presents it as something that is created in order to maintain this eliteness. Joseph Stiglitz talks about how…

Joseph Stiglitz in his extract concurs that the environment is being stained and the people that are being effected the most are the ones who are underprivileged. He further justifies his idea by giving examples of two industrial tycoons in the world; China and the United States (US). Both, he claims, race against each other on carbon emissions but China has won, although the US contributed more to this issue by almost more than a quarter carbon emissions since 1750. He adds on a global scale…

In his article, Joseph Stiglitz discusses economic inequality (the vast distinction in various measures of economic well-being among individuals) as an effect of economic practices aimed at wealth creation and circles causes, effects and solutions toward government policies. He however, highlights the concept of rent seeking which is explained as when people take advantage of their power and resources to build a business niche, monopolize industries and make economic progress at the expense of…

markets, and a lack of government regulation. In “Rent Seeking and the Making of an Unequal Society” by Joseph Stiglitz, we are presented with the concept of rent-seeking. It is an umbrella ideology that includes various unethical practices used by the wealthy to drain the lower classes of their wealth and redistribute it at the top. The corporations that are solely after monetary gain, are doing so at the expense of the poor and are taking…

The book I will be analyzing is, Kopet: A Documentary Narrative of Chief Joseph’s Last Year’s by M. Gidley. It was published in 1981 in Seattle, Washington, United States of America. This book is split up into three different sections: 1. Starting Out from the Meany Papers An introduction 2. Chief Joseph of the Nez Peres A chronology 3. White Witnesses to Chief Joseph’s End A Narrative This book discusses the last few years of Chief Joseph’s life, the white people…

Schumpeter’s work considered the role of entrepreneurs in creating profit as well as building on Weber’s examination of credit-money. He focused on these areas as an attempted to solve two problems with Smith’s circular-flow model. First, that it did not contain profits and secondly, it did not contain the element of bank credit-money. Schumpeter explained that the role of the entrepreneur was not passive, simply responding to price signals. He argued that in reality the entrepreneur’s…

Franz Joseph Haydn is widely known as one of the creators of classical music, as well as being dubbed the “Father of the Symphony” and “Father of the String Quartet. He is also one of the greatest and most celebrated composers of all time. Haydn once remarked, “Young people can learn from my example that something can come from nothing. What I have become is the result of my hard efforts.” And it was the truth. Haydn came from humbler beginnings than most. He was born in Rohrau, Austria on March…

Sister Wives, should polygamy be legalized? Polygamy has been around for many years and with the TV show Sister Wives it can now be viewed in our homes weekly with each new season it brings. The show reminds us of the controversy that surrounds plural marriage. Should plural marriage be legalized? There are many opinions on this touchy topic. Should we, as a society, just leave it be, mind our own business as it were? Should we turn a blind eye to the accusations of abuse and underage…

Even though The Soviet Union turned from a rural farming country to an industrialized power house in just a matter of years, Stalin’s plans were more harmful than helpful to the Soviet Union because of the famine he caused, and the millions that died because of his actions. Joseph Stalin was one of the leaders of the Bolsheviks or communist party that took control of Russia on October 24, 1917. During the Russian Revolution, he was a general who fought in major battles in the Russian Civil War…