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The American Dream Is Now a Myth: Joseph Stiglitz

Posted By admin On June 26, 2012 @ 7:05 am In Prison Planet | Comments Disabled

Deepanshu Bagchee
CNBC [1]
June 26, 2012

Once seen as the land of opportunity, the U.S. today is grappling with rising inequality and a political system that benefits the rich at the expense of others, resulting in lower growth and risking the death of the American dream, according to Nobel prize-winning economist Joseph Stiglitz.

“The U.S. worked hard to create the American dream of opportunity. But today, that dream is a myth,” Stiglitz wrote in an opinion piece in the Financial Times Tuesday.

Stiglitz said U.S. inequality is at the highest point in nearly a century and the gap between those with the median income and those at the top is growing.

“The U.S. used to think of itself as a middle-class country – but this is no longer true,” he said. “Today, a child’s life chances are more dependent on the income of his or her parents than in Europe, or any other of the advanced industrial countries for which there are data.”

Full article here [1]

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URLs in this post:

[1] CNBC: http://www.cnbc.com/id/47957186

[2] Nobel Laureate Dr. Joseph Stiglitz Says “The Geithner Plan Amounts To Robbery Of The American People”: http://www.prisonplanet.com/nobel-laureate-dr-joseph-stiglitz-says-the-geithner-plan-amounts-to-robbery-of-the-american-people.html

[3] A Modest Proposal: Tax Joe Stiglitz at 100 Percent: http://www.prisonplanet.com/a-modest-proposal-tax-joe-stiglitz-at-100-percent.html

[4] Gerald Celente: American dream debunked: http://www.prisonplanet.com/gerald-celente-american-dream-debunked.html

[5] The Alex Jones Show – L I V E – September 16th With Joseph Stiglitz: http://www.prisonplanet.com/the-alex-jones-show-l-i-v-e-september-16th-with-joseph-stiglitz.html

[6] The American Dream Has Moved Abroad: http://www.prisonplanet.com/the-american-dream-has-moved-abroad.html

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