economic growth

economic growth


Myths of America’s Capitalistic System

myths of America's capitalistic system November 11th, 2017

Joseph Stiglitz is l professor of economics at Columbia University. He wrote many books, and the one I recently read was The Price of Inequality. Really a tour de force. He has a conscience, is extremely qualified (he was with the World Bank until they fired him, has a Nobel Prize, etc.), and writes in a manner that is easily grasped. Here are some myths he brings up in his powerful and well-researched book on inequality. They are myths of America’s capitalistic system – perhaps a better word is our crony-capitalistic system. If free market capitalism is problematic, crony capitalism downright stinks.

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