{"id":18908,"date":"2016-03-16T12:02:47","date_gmt":"2016-03-16T17:02:47","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18908"},"modified":"2016-03-16T12:02:47","modified_gmt":"2016-03-16T17:02:47","slug":"joseph-stiglitz-american-inequality-didnt-just-happenit-was-created","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18908","title":{"rendered":"Joseph Stiglitz \u2013 \u201cAmerican Inequality Didn\u2019t Just Happen\u2026It Was Created.\u201d"},"content":{"rendered":"<header class=\"post-header \">\n<h3 class=\"post-title\"><a href=\"http:\/\/libertyblitzkrieg.com\/2016\/03\/15\/joseph-stiglitz-american-inequality-didnt-just-happen-it-was-created\/\" target=\"_blank\">Joseph Stiglitz \u2013 \u201cAmerican Inequality Didn\u2019t Just Happen\u2026It Was Created.\u201d<\/a><\/h3>\n<div class=\"clearfix post-meta post-meta-top\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-32297\" src=\"http:\/\/libertyblitzkrieg.com\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-03-15-at-3.56.59-PM.jpg\" sizes=\"auto, (max-width: 374px) 100vw, 374px\" srcset=\"http:\/\/libertyblitzkrieg.com\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-03-15-at-3.56.59-PM-300x188.jpg 300x, http:\/\/libertyblitzkrieg.com\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-03-15-at-3.56.59-PM-768x481.jpg 768x, http:\/\/libertyblitzkrieg.com\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-03-15-at-3.56.59-PM.jpg 904x\" alt=\"Screen Shot 2016-03-15 at 3.56.59 PM\" width=\"374\" height=\"234\" \/><\/div>\n<\/header>\n<div class=\"post-content\">\n<p>Yesterday, I came across an excerpt from a book written by economist Joseph Stiglitz, which touched upon many crucial points regarding the U.S. economy. I think it\u2019s an important read since it helps explain the roots of the current rebellion taking place within the political system.<\/p>\n<p>Americans aren\u2019t angry because other Americans are fabulously wealthy. Americans are angry because the economy is intentionally\u00a0rigged to benefit a small group of individuals known as\u00a0\u201cinsiders.\u201d They\u2019re angry because rather than add value to society, these insiders parasitically take\u00a0from society. Rent-seeking is what economists call their\u00a0destructive behavior, and the public is fed up with it.<\/p>\n<p>No one would be outraged\u00a0if genuinely innovative entrepreneurs and creators were\u00a0the ones cleaning up in the modern economy. Unfortunately, this is not the way things work. Indeed, it\u2019s an unfortunate fact that a disturbingly large number of America\u2019s so-called \u201ceconomic winners\u201d in 2016 are little more than\u00a0corrupt, scheming hacks and political types\u00a0unconscionably profiting from the ongoing\u00a0destruction of the Republic.\u00a0<strong>\u201cThe people\u201d have finally started to wake\u00a0up.<\/strong><\/p>\n<p>Now here are a few excerpts from\u00a0<a href=\"http:\/\/evonomics.com\/nobel-prize-economist-says-american-inequality-didnt-just-happen-it-was-created\/\">Evonomics<\/a>:<\/p>\n<blockquote><p><em><strong>American inequality didn\u2019t just happen. It was created.<\/strong>\u00a0Market forces played a role, but it was not market forces alone. In a sense, that should be obvious: economic laws are universal, but our growing inequality\u2014 especially the amounts seized by the upper 1 percent\u2014is a distinctly American \u201cachievement.\u201d That outsize inequality is not predestined offers reason for hope, but in reality it is likely to get worse. The forces that have been at play in creating these outcomes are self-reinforcing.<\/em><\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Joseph Stiglitz \u2013 \u201cAmerican Inequality Didn\u2019t Just Happen\u2026It Was Created.\u201d Yesterday, I came across an excerpt from a book written by economist Joseph Stiglitz, which touched upon many crucial points regarding the U.S. economy. I think it\u2019s an important read since it helps explain the roots of the current rebellion taking place within the political [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1253,12975,425,460,4285,12976,6174,841,868,12974],"class_list":["post-18908","post","type-post","status-publish","format-standard","hentry","category-economics","tag-1253","tag-economic-laws","tag-inequality","tag-joseph-stiglitz","tag-liberty-blitzkrieg","tag-market-forces","tag-michael-krieger","tag-us-economy","tag-wealth","tag-wealth-distribution"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18908"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18908\/revisions"}],"predecessor-version":[{"id":18909,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18908\/revisions\/18909"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}