People, power, and profits - Joseph E. Stiglitz

From Nobel Prize-winning economist and bestselling author Joseph Stiglitz, this account of the dangers of free market fundamentalism reveals what has gone so wrong, but also shows us a way out.

We all have the sense that our economy tilts toward big business, but as Joseph E. Stiglitz explains in People, Power and Profits,
a few corporations have come to dominate entire sectors, contributing
to skyrocketing inequality and slow growth. This is how the financial
industry has managed to write its own regulations, tech companies have
accumulated reams of personal data with little oversight, and government
has negotiated trade deals that fail to represent the best interests of
workers. Too many have made their wealth through exploitation of others
rather than through wealth creation. If something isn't done, new
technologies may make matters worse, increasing inequality and
unemployment.

Stiglitz identifies the true sources of wealth and
increases in standards of living, based on learning, advances in
science and technology, and the rule of law. He shows that the assault
on the judiciary, universities, and the media undermines the very
institutions that have long been the foundation of economic prosperity
and democracy.

Helpless though we may feel today, we are far
from powerless. In fact, the economic solutions are often quite clear.
We need to exploit the benefits of markets while taming their excesses,
making sure that markets work for people and not the other way around.
If enough rally behind this agenda for change, we can create a
progressive capitalism that will recreate a shared prosperity. Stiglitz
shows how a decent middle-class life can once again be attainable by
all.