Essay on The Price of Inequality by Joseph E. Stiglitz

America is one of the world’s largest and prosperous developed countries in the world, but take a closer look and you realize that the great United States of America has an alarmingly large amount of poverty. Where there once used to be an â€Å"American Dream† there now lies the cold hard truth, there is less and less opportunity every day and growing inequality every second. Joseph E. Stiglitz how America has turned into a country that would be unrecognizable to any of the founding fathers. In The Price of InequalityStiglitz visits this problem and searches for the source of the economic inequality that the United States is faced with today. Stiglitz came to the conclusion that America is declining and turning into a society like the one†¦show more content†¦That top portion manipulates the facts because they want the rest of America to believe that there is little inequality in the society. This causes a massive misunderstanding by the majority of the popula tion where they underestimate the adverse economic effects of inequality and overestimate of the cost of taking action. There are also many misconceptions concerning the government which include the overestimate the ability of government to fix their inequality problems and the failure to understand what the government is doing to fix society’s problems. Despite the seemingly obvious facts, â€Å"only 42 percent of Americans believe that inequality has increased in the past ten years,† (Stiglitz 185) this believe is due to the optimism when it comes to social mobility, most Americans believe that there is a way to â€Å"cheat† or overcome the inequality. This idea that hope is necessary for a society to be controlled is consistent throughout a lot of governments and even literary works as well. In Suzanne Collins’s Hunger Games trilogy the dictator like President Snow makes a point to say that hope is the only thing stronger than fear. This is true in soc iety today, it is easier to rule and control people who think that things will get betterShow MoreRelatedSummary Of Rent Seeking And The Making Of An Unequal Society By Robert Thurman1319 Words   |  6 Pageswith so much inequality? The poor are often the ones with losses. According to Joseph E. Stiglitz, the author of â€Å" Rent Seeking And The Making Of An Unequal Society†, individuals of society are made to believe that: â€Å"The poor, in this land of opportunity, have only themselves to blame.† Millions of individuals in our society are losing jobs daily, but the one percent of the top class is not losing their jobs. As a result of this inequality, an egocentric and a society filled with inequality has formedRead MoreDream Or Reality? By Joseph E. 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