The Nobel Prize winning economist, Joseph Stiglitz in his visit to Australia warned the people of the triple threat. He cautioned people of the increasing inequality, the climatic changes that are taking place along with the undermining democracy.
He said that they were an altogether different country some 40 years in the past. He further added that he feels that America should not be taken for granted when it comes to their institutions and that the country in itself should be an important warning to other countries.
He also worried that things in the United States might become worse.
Joseph Stiglitz, a renowned economist will be going to Australia next week. He is a Columbia University Professor has been awarded with the Sydney Peace Prize in 2018. The prize was awarded to him for leading an important public policy discussion which is the problems caused due to economic disparity.
Joseph has pioneered the concept of “1 per cent” which says that the American at the top of the pyramid in terms of financial stability which comprises of 1 percent of the total population have accumulated great political power along with lots of wealth, through the suppression of voters and influencing corruption of money.
This has led to a great dis-balance in the economy as a result of which the economy of the country has suffered and the democracy has been undermined.
He is also the author of the best-selling book in 2012 “The Price of Inequality” in which he has thoroughly explained how America has been growing apart at an increasing rate.
Joseph also plotted this month in the Scientific America that how inequality has become worse in the last 40 years and the democracy of the United States was imperiled.
He said that they are already experiencing a foretaste of what could happen in future and that things might get worse.
Source: TheGuardian, TheReligiousForums
