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Summary

Penguin presents the audiobook edition of People, Power and Profits by Joseph Stiglitz, read by Sean Runnette. 

We all have the sense that the American economy - and its government - tilts toward big business, but as Joseph E. Stiglitz explains in his powerful new book, People, Power, and Profits, a few corporations dominate entire sectors of the economy, 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 the government has negotiated trade deals that fail to represent the interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. New technologies may make matters worse, increasing inequality and unemployment.

Stiglitz identifies the true sources of wealth and of 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 America's economic might and its democracy.

Helpless though we may feel today, citizens are far from powerless. We need to exploit the benefits of markets while taming their excesses, making sure that markets work for us - not the other way around. If we rally behind the agenda outlined in this book, we can create a progressive capitalism that will recreate a shared prosperity.

©2019 Joseph Stiglitz (P)2019 Penguin Audio

What listeners say about People, Power, and Profits

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Solid

The book is very accessible and is a good overview of our economical and societal situation today. It warns of dangers, some of which may not be very apparent. Stiglitz also points out a road to a better, or less dire future while pointing out that the difficulty is not mathematics / economics, but political: Do we have the political will to overcome the great disparities in power our societies face today.

Though focused on the US it is really just as valuable to me, a Scandinavian.

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An anti Trump polemic

This book was only released in 2019 but already feels very dated. when he talks about the structural inequalities of the economy, corporations avoiding tax, increasing teachers pays & other issues he's very good but a big chunk of this book is simply an anti Trump/anti Republican polemic which is a shame because it really does detract from his core arguments. I loved "The Euro" by the same author, I'd give this a wide berth

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A must-read to understand US decline

A must-read to understand US decline, present-day economics, and why U.K. chiefly must learn and use US situation as a warning.

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Revolutionist propaganda

Very disturbing to hear a professor of economics spread such unfounded and populist views. I sincerely hope his students are versed enough in economics to understand that it is a very biased and political view Stiglitz offers, a view that often contradicts the very basics of economics.

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  • Anonymous User
  • 11-10-20

Eye opening

I like the way Joseph expertly deconstructs the economic and social problems of the day. I do, however, think he is too prescriptive on what could be a solution. He talks, many a time of “the only way to .....” . Otherwise it’s a fantastic book.

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  • Lindsay Martin
  • 07-08-19

A must read

A great read on the underlying causes of inequality. Demonstrates how power corrupts both poltics and economics. There is urgent need for change if we are to have a more sustainable future.