Economy
Joseph Stiglitz
How Capitalism's Rules Increase Inequality
A world-renowned great scholar who received the Nobel Memorial Prize in Economic Sciences and a master of inequality research.
Lesson Plan
- Lesson Length : 8 Lessons ㆍ 53 miutes
- Language : 한국어, English
We’ll be making a diagnosis of how the economic rules of capitalism heightened inequality.
Why do the rich get richer, and the poor get poorer? Various policies to bridge that gap are pouring out, and politicians put the issue of inequality as a top priority whenever the election season returns, but the gap between their lives shows no signs of narrowing. Inequality is deemed the challenge of the era of capitalism. Is there no way out?
Professor Joseph Stiglitz of Columbia University, who won the 2001 Nobel Memorial Prize in Economic Sciences, is concerned that today's inequality is worse than ever. Inequality existed in the past, but everyone had their chance. People were able to move within classes and the fruits of economic growth were more evenly divided, but not anymore. He argued that capitalist economic rules changed with the times and circumstances and that such rewritten economic rules have widened the gap between the lives of the rich and poor out of control. Inequality is not the fate of capitalism, but the product of human rules. So then, can we change the rules of the game and dream of a better future beyond inequality? With Professor Joseph Stiglitz, we look for the answer.
Full Bio
Joseph Stiglitz
- A professor of economics at Columbia University
- A senior vice-president at the World Bank (1997~2000)
- Chairman of the President’s Council of Economic Advisers in the Clinton Administration (1993~1995)
- Was selected as Time Magazine’s “TIME100: The Most Influential People of 2011”
- Received Order of Industrial Service Merit Silver Tower from the Republic of Korea (2002)
- The Nobel Memorial Prize in Economic Sciences (2001)
- The John Bates Clark Medal (1979)
- Wrote Globalization and Its Discontents (2002), The Price of Inequality (2012), The Great Divide: Unequal Societies and What We Can Do About Them (2015), People, Power and Profits: Progressive Capitalism for an Age of Discontent (2019), and more.
Joseph Stiglitz is a professor of economics at Columbia University and a world-renowned scholar who spent his entire life studying inequality. He constantly tried to get to the bottom of how numerous economic rules, such as the government's economic policies, worsened inequality. In particular, he won the 2001 Nobel Memorial Prize in Economic Sciences by presenting theoretical models that the "information asymmetry" phenomenon could be the source of inefficient distribution. He was named one of Time Magazine's "TIME100: The Most Influential People of 2011" and is one of the most frequently cited economists in the world.
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