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Publisher's 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

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Progressive vision and history lesson

Stiglitz elegantly and with decades of credibility diagnoses a host of cancerous issues that have for decades allowed for greater monopolised power the plagues of the rights neo fascist economic agenda and the greater impact on growth not just economically but also culturally and socially on the greater whole of society and displays the inefficiency in the private sector in key areas and strengthens the case for government with actual examples that give a credible voice to the role government when more principled can have on the greater good and also redistribution of gains seen mostly to a few hands whilst undermining essential institutions vitals for a prosperous society. It outlines how the American people have been sleep walked into their own destructive future, and have gambled their own interests by the platitudes of a Republican Party that doesn’t essentially have their interests at heart. I see Stiglitz of the old guard of economists who believe in a more fair and equitable society of what could be if only we saw beyond the short terms and also the individualism made inherited since Regan. And expresses the era since WW2 to regan of greater growth and the slow or rapid decline depending on how you measure it of growth and equity in real terms for so many. His progressive policy ideas really resonate from a sanders or warren campaign and his voice adds weight to their urgency, and also greater benefit. His critique of anti trust laws is incredibly useful in an age of big tech and stymied innovation and corporate investment and also how market power of the few undermines so much growth and competition essential for a sustainable market. All in all a great read for those on the left and those great want to challenge their views on the right.

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  • Anonymous User
  • 11-10-2020

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
  • 07-08-2019

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.

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  • Marion F.S.
  • 08-09-2019

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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  • Anonymous User
  • 18-09-2020

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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