Monday, August 13, 2012

Nobel economist: Inequality weighs on the US economy

To Joseph Stiglitz, the Nobel Prize-winning economist, the strange behavior of the economy can be traced to the growing gap between wealthy Americans and everyone else. In his new book, "The Price of Inequality," he connects surging student loan debt, the real-estate bubble and many of the country’s other problems to greater inequality.

Stiglitz has taught at Yale, Oxford and MIT. He served on President Bill Clinton’s council of economic advisers, then left the White House for the World Bank, where he was the chief economist. He’s now a professor at Columbia University.
Stiglitz warned about worrying over government debt and argued that a wider income gap leads to a weaker economy. To read more of Joseph Stiglitz’s views: See Salt Lake Tribune

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