People, Power, and Profits

People, Power, and Profits : Progressive Capitalism for an Age of Discontent

3.9 (509 ratings by Goodreads)
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Description

From Nobel Prize-winning economist and bestselling author Joseph Stiglitz, this account of the dangers of free market fundamentalism reveals what has gone so wrong, but also shows us a way out.

We all have the sense that our economy tilts toward big business, but as Joseph E. Stiglitz explains in People, Power and Profits, a few corporations have come to dominate entire sectors, contributing to skyrocketing inequality and slow growth. This is how the financial industry has managed to write its own regulations, tech companies have accumulated reams of personal data with little oversight, and government has negotiated trade deals that fail to represent the best interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. If something isn't done, new technologies may make matters worse, increasing inequality and unemployment.

Stiglitz identifies the true sources of wealth and increases in standards of living, based on learning, advances in science and technology, and the rule of law. He shows that the assault on the judiciary, universities, and the media undermines the very institutions that have long been the foundation of economic prosperity and democracy.

Helpless though we may feel today, we are far from powerless. In fact, the economic solutions are often quite clear. We need to exploit the benefits of markets while taming their excesses, making sure that markets work for people and not the other way around. If enough rally behind this agenda for change, we can create a progressive capitalism that will recreate a shared prosperity. Stiglitz shows how a decent middle-class life can once again be attainable by all.
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Product details

  • Paperback | 400 pages
  • 129 x 198 x 23mm | 292g
  • London, United Kingdom
  • English
  • 0141990783
  • 9780141990781
  • 2,567

Review Text

This eminent economist provides an authoritative defence of government intervention using mainstream economics and a justification for how to build a fairer society without sacrificing growth Gavin Jacobson Financial Times
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Review quote

Urgent ... Unless rising inequality caused by mismanaged globalization, financial liberalization, and destabilizing technological change is addressed, Stiglitz argues, nostrum-peddling demagoguery will find a receptive audience * New Yorker * People, Power, and Profits builds on Stiglitz's earlier work and adds some pretty big ambitions -- Daniel W. Drezner * The New York Times * His conclusions are bleak, his prescriptions radical -- Gerard Baker * The Times * This eminent economist provides an authoritative defence of government intervention using mainstream economics and a justification for how to build a fairer society without sacrificing growth -- Gavin Jacobson * Financial Times *
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About Joseph Stiglitz

Joseph E. Stiglitz was Chairman of the President's Council of Economic Advisers 1995-7 and Chief Economist at the World Bank 1997-2000. He won the Nobel Prize for Economics in 2001 and is the bestselling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work, Freefall, The Price of Inequality, The Great Divide and The Euro, all published by Penguin.
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Rating details

509 ratings
3.9 out of 5 stars
5 32% (165)
4 36% (182)
3 24% (120)
2 6% (31)
1 2% (11)
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