Joseph Stiglitz: Economics Has to Come to Terms With Wealth and Income Inequality
Institute for New Economic Thinking
Given the pressing worldwide realities of disinvestment, land grabbing, rent increases, evictions and displacement; a class analysis applied to housing and urban issues is more urgent than ever. Gentrification is the neighborhood expression of class inequality. Its positives are only felt by those who profit from the loss of housing opportunities of others. And there is nothing remotely natural about it.
The so-called Uber or “on-demand” economy is a rerun of the oldest sort of business: middlemen insinuating themselves between buyers and sellers. The vital ingredient, without which this new economy would fall apart, is inequality. All that modern technology has done is make it easier, through omnipresent smartphones, to amass a fleet of increasingly desperate jobseekers eager to take whatever work they can get.
Senator Bernie Sanders asks if we are prepared to take on "the billionaire class" lays down a program to do just that.
African-Americans are disproportionately likely to be poor, they are only a quarter of Americans living in poverty; whites make up about 41% of the poor. Those white Americans who don't want to help the poor because they'd be helping people of another race are actually screwing over white people big time. The wealth gap between /white and African-American families tripled between 1980 and 2009.
African-Americans are disproportionately likely to be poor, they are only a quarter of Americans living in poverty; whites make up about 41% of the poor. Those white Americans who don't want to help the poor because they'd be helping people of another race are actually screwing over white people big time.The wealth gap between /white and African-American families tripled between 1980 and 2009.
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