PEOPLE, POWER AND PROFITS: PROGRESSIVE CAPITALISM FOR AN AGE OF DISCONTENT

Abstract

There has been a significant increase in labour productivity in recent decades. Despite that, the
lifestyle of the middle class is unattainable for the majority of the population. At the same time, the
inequality gap between rich and poor is constantly growing. The author of the book, Joseph E. Stiglitz,
winner of the Nobel Prize in Economics in 2001, looks for the causes of inequality and solutions that
would enable a fairer distribution of profits from productivity growth and globalisation. Critically
analysing the situation in the economy today and during the past four decades, the author re-examines
the role of political populism and blinding confidence in the market.