A CRITIC OF JOSEPH STIGLITZ BOOK, THE PRICE OF INEQUALITY.

Recently I read Joseph Stiglitz book The price of inequality. He is one of the worlds top economists. From 1995 to 1997 he was President of the council of economic advisors under President Bill Clinton. He has in the past been the chief economist of the world bank.

In his book Stiglitz correctly explains how the neo liberal, globalist political offensive since 1980 has been used to attack the standard of life of the worlds poor and working class. Howeverin my opinion he draws the wrong political conclusions of how to fight back against the right wing neo liberal attack.

Stiglitz is a mainstream supporter of the American Democractic party and so basically accepts the corporate system he just wants it made more human.This is part of the problem with Stiglitz analysis. He is also hostile to socialism.

Stigliz does put forward some good ideas to fight inequality. Such as free healthcare in the USA. Also much lower student tuition fees. However where I feel he is found wanting is in his plans for the economy. He take the traditional American view  that the monopoly enterprises should be broken up and the competition should be guaranteed by law so that  free market competion can be be allowed to operate in the economy.

Stiglitz cannot understand the it is the natural economic process of capitalism for companies to swallow up their rivals and so often establish monopolies in particular industries. As I have said earlier in this blog Stiglitz is hostile to socialism. For instance in relation to Venezuela he refers to the people of Venezuela electing Hugo Chavez as president as electing someone’ like him’ So stating Hugo Chavez election in a hostile manner.

Also what Stiglitz does not understand is that their is no chance of the American congress adopting even the reforms that he advocates. America is now a corporate fascist dictatorship. Virtually every member of congress both Democrat and Republican receives massive donations from big business and so they will do whatever their big business controllers tell them to do.

What is really needed in both the USA and the  rest of the world is a new political movement to fight the coroprate neo liberal world dictatorship and then to build a new world economy based on social justice and peoples control of the economy. However unfortunately Stiglitz who is a mainstream supporter of the pro war pro corporate fascist American Democratic party does not recognise this. So alas his policies to fight inequality will always be found wanting.

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