10 Questions for Joseph Stiglitz

Nobel Prize--winning economist Joseph Stiglitz on inventing the 1% and why they're bad for the economy

Mark Mahaney/Redux

Joseph Stiglitz

Is America kidding itself when it calls itself the land of opportunity?

Yes, it is. There are amazing stories of people who made it from the bottom to the top. But what happens on average? What is the chance of somebody from the bottom making it to the middle or somebody from the top who doesn't work going down? In terms of basic statistics, the U.S. has become less a land of opportunity than other advanced industrial countries.

Is your book The Price of Inequality, then, a warning about class warfare?

I don't like to use that term class warfare. The...

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