.
Dream On Yanks, only in the United States is the American Dream unattainable in today’s world. Some interesting articles on this topic by Nobel Prize winner Economy Joseph E. Stiglitz.
(NRC Dutch Newspaper) – American citizens have less of a chance making “a dime a quarter” than people in other advanced societies. The so-called American dream is not supported by data, writes the Economics Nobel laureate Joseph E. Stiglitz in his new book The Price of Inequality.
Unequal, unfair. With these words he typifies the economic crisis. Both cause and effect. “If nobody can be held responsible, as no individual takes on the debt, then the problem lies in the economic and political system,” says Stiglitz.
The ‘American Dream’ Is a Myth: Joseph Stiglitz on ‘The Price of Inequality’ – VIDEO
Actually he is the father of the movement occupy the crisis demonstrators with their slogan “we are the 99 percent” expressed their indignation about the “self-enhancers’ at the top. A slogan which Stiglitz is derived from an article he May last year in Vanity Fair wrote: ” Of the 1 percent, by the 1 percent, for the 1 percent.
In that piece he incited stuff things up. “Americans have looked at the protests against oppressive regimes that concentrate all wealth in the hands of a small elite,” he wrote then. “But in our own democracy it is no different: 1 percent of the population up nearly a quarter of national income – an inequality that even the rich will regret.” With the latter he means that the fate of the 1 percent is associated with the welfare of the remaining 99 percent. An economy is in the doldrums, according to him, even in a crisis, even if unequal distribution is unjust.
Without realistic hope society is doomed in decay
“A dollar per vote,” Stiglitz qualifies as the state of American politics. A policy which he has tamed the financial sector is insufficient and thus the disadvantaged population. “Capitalism has not fulfilled its promise. Rather, it produced inequality, pollution, unemployment and – most importantly – degradation of values to the level that everything is accepted and no one responsible. “In the years before the crisis, the rich according to Stiglitz ever richer, while getting worse went with the lower and middle class. At the time that it really went wrong, leaving the elite bonuses, while ordinary workers were sacked without compensation. Banks were rescued but the ship went public with subprime mortgages and falling house prices. These practices, according to Stiglitz characterizes the current system.
"But I will not let myself be reduced to silence."
