Spotlight Exclusives

Highlights from Joseph Stiglitz’s Recent Speech on Inequality in America

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Spotlight was in attendance earlier this month when Nobel Laureate Joseph Stiglitz accepted this year۪s Daniel Patrick Moynihan Prize, awarded by the American Academy of Political and Social Sciences. In his speech at George Washington University, Stiglitz blamed rising income inequality and historical racial inequities on policies that don’t do enough to help all Americans.

The Moynihan Prize honors individuals each year who demonstrate how scholarship and social science research matter to public policy and advancing the public good. Previous recipients included Paul Volcker, former chairman of the Federal Reserve; and Alice Rivlin, former director of the White House Office of Management and Budget and the first director of the Congressional Budget Office.

Here are several highlights from Stiglitz’s address:

“Growing inequality is finally getting the attention it deserves America has become the trendsetter in inequality.”

“America has become the advanced country not only with the highest level of inequality, but one of those with the least equality of opportunity.”

“The life prospects of a young American are more dependent on the income and education of his parents than in other developed countries.”

“Economic inequality translates to political inequality.”

“When we invest in children, our assets increase for the future. If we focus on the short run, we will be forced to cut funds from social services.”

“The intellectual debate is being won by those who are concerned by the growth of inequality.”

Video of the entire speech is below.

Posted by Tamanna
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