answer the following: In chapter 10, Professor Stiglitz outlines his agenda for
ID: 1211743 • Letter: A
Question
answer the following:
In chapter 10, Professor Stiglitz outlines his agenda for the reforming the U.S. economic policy which he believes is responsible for the inequality in income, wealth, opportunity, and political power. This agenda consists of the following:
Reduce Rent Seeking and Leveling the Playing Field
Tax Reform
Tempering Globalization
Restoring and Maintaining Full Employment
A New Social Compact
Restoring Sustainable and Equitable Growth.
He claims that his proposed reforms and his book are “not about the politics of envy.” Do you agree? Using one or more of the policies outlined under the above headings, support your assertion and support with evidence offered in Dr. Stiglitz’s book, other sources or your own observations.
Explanation / Answer
inequality of wealth and income is much higher in US when compares to other nations. because of this the poor becomes as much poor and rich becomes much more rich. the difference between these two has become more higher. when the gap increases automatically every service or every product will be available to the rich very frequently where as the same may not available to poor. when the gap increases people's psychological aspects changes and they may get revolutionary thoughts.
one of the reason for terrorism is inequality of income and wealth distribution. it may leads to many problems.
it has to minimize by following different methods like tax reforms; which facilitates that the rich has to pay higher taxes and even poor also should perform any one of the work and should contribute towards national development.
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