Saturday, November 21, 2015

Quotation of the day for November 21, 2015

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Quotation of the Day for November 21, 2015



"What I try to show here is it's not the outcome of normal economic forces. It wasn't the laws of supply and demand that had suddenly changed to result in this increase in inequality.

"What happened was, in the United States, and then other countries, the rules of the market economy had been written to serve the interests of the 'one per cent.' So they were changing the rules of corporate governance, the way we enforce antitrust laws.

"There were some changes in the economy as well: globalization, network effects, association with new technologies. So there were both changes in our world, but most important, changes in the rules of the game."

- Joseph Stiglitz, Nobel laureate, discussing his new book Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity.

[http://www.cbc.ca/news/canada/british-columbia/joseph-stiglitz-economic-inequality-1.3326999]

Submitted by: Mike Krawchuk
Nov. 20, 2015

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