[CNBC]
Joseph Stiglitz, economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001). He is also the former Senior Vice President and Chief Economist of the World Bank.
Once seen as the land of opportunity, the U.S. today is grappling with rising inequality and a political system that benefits the rich at the expense of others, resulting in lower growth and risking the death of the American dream, according to Nobel prize-winning economist Joseph Stiglitz.
“The U.S. worked hard to create the American dream of opportunity. But today, that dream is a myth,” Stiglitz wrote in an opinion piece in the Financial Times Tuesday. Stiglitz said U.S. inequality is at the highest point in nearly a century and the gap between those with the median income and those at the top is growing. “The U.S. used to think of itself as a middle-class country – but this is no longer true,” he said.
“Today, a child’s life chances are more dependent on the income of his or her parents than in Europe, or any other of the advanced industrial countries for which there are data.”
Lire : cnbc.com
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