Joseph E. Stiglitz, Rewriting the Rules of the American Economy, An Agenda for Growth and Shared Prosperity

Abstract

Abstract. The rules of game are fair if they are fair for all the economic agents; but if rules favor certain segment of society more than the others, then not to change rules would be grossly unfair. The rules that exacerbate the gap between the rich and the poor and make equality of opportunities conspicuously absent are not fair at all.  These unfair rules give birth to poverty and inequality and the issue of poverty and inequality is of utmost importance. For instance, in April 2013, the Board of Executive Director of the World Bank adopted two goals: end global extreme poverty and promote shared prosperity. The World Bank Group published a comprehensive report titled ‘Talking on Inequality’ in 2016.

Keywords. American economy, Economic growth.

JEL. A10.