Joseph Stiglitz

Based on his important (and controversial) new book, The Price of Inequality, Joseph Stiglitz speaks about the causes of inequality, the reasons it's growing so rapidly, and its economic impacts. He explains that markets are neither efficient nor stable and tend to keep money in the hands of a few rather than create competition, in an overall system that benefits the rich over the rest of society. He demonstrates how moving money from the middle and bottom of society to the top, far from stimulating entrepreneurship, actually produces slower growth and a lower GDP with even more instability. He concludes that redistributing wealth from the bottom up would produce far greater overall gains in our economies without adversely impacting financial elites.

The best-selling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work, and Freefall, Joseph Stiglitz won the Nobel Prize for Economics in 2001.