Globalization and Technology have Widened the Wealth Gap
"The growing inequality in our society undermines the strength of the American economy." —Nobel Laureate Joseph Stiglitz
Nobel Laureate Joseph Stiglitz recently spoke at Columbia University on the issue of economic inequality and its effects on our society. He argued that changes in the economy, such as globalization and technological advances, have increased the gap between the rich and the poor. This has led to greater economic injustice, as those in the lower economic classes are unable to access the same opportunities and resources as the wealthy.
He believes that government policies should be put in place to help bridge this gap, such as increasing the minimum wage, providing access to education and job training, and creating incentives for businesses to hire more workers. He also emphasized the importance of progressive taxation and policies to reduce the power of the wealthy and powerful over the rest of society. Stiglitz believes that economic injustice is a major issue that needs to be addressed in order to ensure a more equitable and prosperous future.