Joseph Stiglitz : Most Americans are worse off than say a decade ago

Joseph Stiglitz : Most Americans are worse off than say a decade ago



Joseph Stiglitz : The point I increased the increase of concentration of income and wealth in the United States has been enormous , it is like looking at the grass growing it happens very slowly but it happens over time and before you know it the lawn is over grown and things have changed , what happened in the last couple of decades is almost a quarter of all the income goes to the upper one percent around 40 percent depends how you measure it of the wealth goes to the upper one percent , Americans used to think of themselves as the land of opportunity , the data do not show that , the data shows that the chance of somebody moving from the lower class to the middle class or from the middle class to the upper class these chances are now much lower than they used to be 20 years ago and lower than in Europe , they start to realize that Most Americans are worse off than say a decade ago