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Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity by Joseph E. Stiglitz. W.W. Norton, New York, pp. 256 Reviewed by Artur F. Tomeczek
Inequality in the United States has become the subject of many economic publications and discussions in the recent years. The current policies of the United States have been under heavy scrutiny, especially in light of one of the most polarizing presidential races in its history. In his 2015 book Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity, Joseph E. Stiglitz describes the degree of inequality in the United Sates, and provides the solutions that aim to improve the quality of life and foster sustainable economic growth.
Joseph E. Stiglitz is among the most influential economists of our time. One of the foremost authorities on inequality, economic sustainability, and globalization. He is the recipient of the 2001 Nobel Prize in economics, the 1979 John Bates Clark Medal, and the 2013 Robert F. Kennedy Book Award. During his long and fruitful academic and political career he amassed a wealth of experience. Currently Stiglitz is a professor of economics at Columbia University, the Co-President at the Initiative for Policy Dialogue, and the Chief Economist at the Roosevelt Institute.
Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity is based on the 2015 report by Joseph E. Stiglitz, published by the Roosevelt Institute. The report was co-authored by Nell Abernathy, Adam Hersh, Susan Holmberg, and Mike Konczal, all affiliated with the Roosevelt Institute.
The book consists of a preface by Joseph E. Stiglitz and Felicia Wong, an introduction, the main body, and an appendix. The main body of the book is divided into two parts. The first part, in which Stiglitz presents a broad overview of symptoms and causes of inequality in the American economy, is entitled The Current Rules. It consists of 9 chapters1 (pp. 26-96). The second part, in which Stiglitz offers a comprehensive set of policy reforms, is entitled Rewriting the Rules. It consists of 8 chapters (pp. 97-168), which are grouped by Stiglitz according to two overarching themes in his proposed reforms: Taming the Top and Growing the Middle.
Stiglitz believes that economic and...