Working Paper Macroeconomic Analysis

Inequality, Stagnation, and Market Power: The Need for a New Progressive Era

January 5, 2018

By Joseph Stiglitz

There is much to be concerned about in America today: a growing political and economic divide, slowing growth, decreasing life expectancy, an epidemic of diseases of despair.

The unhappiness that is apparent has taken an ugly turn, with an increase in protectionism and nativism. Trump’s diagnosis, which blames outsiders, is wrong, as are the prescriptions that follow. But we have to ask: Is there an underlying problem that can and must be addressed?

Tags: Democratic Governance, Neoliberalism and Its Failures

Author

Joseph Stiglitz

Chief Economist and Senior Fellow

As chief economist and senior fellow at the Roosevelt Institute, Joseph Stiglitz focuses on income distribution, risk, corporate governance, public policy, macroeconomics, and globalization.