What I want is a more dynamic economy and a fairer society. We’ve created an economy that is not in accord with the principles of the free market. If the root causes of income inequality go unaddressed, America will truly become a two-class society and look much more like a third world economy. Joseph Stiglitz
When I spend hours upon hours stitching, it’s great to “get in the know” by listening to podcasts from the Commonwealth Club. I have three to recommend: two on economics mentioned here and one about creativity linked on my container blog.
Paul Krugman’s book: End This Depression Now! gives brilliant instruction for radical change in economic policy that guarantees to get us out of our financial meltdown. His basic idea, supported with lots of historical data, is while fiscal austerity is fashionable; it’s not the answer. Krugman argues for a stimulus plan of public investment that would restore full employment in the United States in less than two years. Listen to the podcast here.
We know something has gone terribly wrong in the nature of our society and in his book: The Price of Inequality, Joseph Stiglitz proves that inequality of wealth and opportunity hurt the overall economy, limit competition, promote cronyism and keep those at the bottom from reaching their true potential. Listen to the podcast here.