Joseph Stiglitz attacks US 'inequality'

The richest 1% of Americans now hold 25% of the country's wealth and more needs to be done to boost equality, Nobel Prize winning US economist Joseph Stiglitz has said.

Mr Stiglitz, speaking in Davos, said this was a result of the top 1% seeing their wealth double since 1980.

By contrast, he said that the median income level in the US had not changed since the early 1990s.

But Mr Stiglitz had praise for Brazil and the Scandinavian countries.

Speaking to the BBC's economics editor Stephanie Flanders at the World Economic Forum in Davos, Switzerland, Mr Stiglitz called for more work to boost the educational opportunities of the "bottom 50%" of Americans, higher minimum wages, and more collective bargaining in the workplace.

"America likes to think of itself as a land of equality and opportunity, the so-called American dream is very deep to our sense of identity," he said.

"The stats show otherwise, the US has one of the worst opportunity rates of any of the advanced economies. A child's life chances are more dependent on the income of his or her parents than most other industrial economies."

Mr Stiglitz contrasted the situation in the US in the past 30 years with that from the Second World War to 1980, when he said the US economy enjoyed "rapid growth in which we all grew together".

Nehru ... Your line of reasoning is??? Now think carefully before you answer... Not because you rich neighbour beat he wife you guh beat yuh own too! Got the drift?

iT IS SIMPLE, crime and inequality is all over the World. Samje?

nehru keep that reasoning for morons,how much steal bars you have on your windows

So the reasoning is PERFECT for you.

even a moron like me will know that is a dumb reasoning.i know you can do better

Looks like Pandit got Warrior to confess he's a moron - as in "even a moron like me....."

I told you that you are obsessed with stealing that you cannot differentiate between "steal and steel" and "how much and how many". 

Bhai, Abee Canecutter does gat one one uppercut.

Nehru, you sure you got the heading on this thread right?

HAHAHA!!! Bro drunk tarasss, hehehe... hic!hic!

Pavi was employing sarcasm to make the point that stuff happens all over......not "Only in Guyana"....

Because I am the man friend I have to tell you that Don't you ever ever ever say something like this about Pavsta, he aint That smart.

You eva hear 'bout "accidental this..." and "accidental that...."? Well de Pavsta is "accidental_________"

Bai Kari, Is who is Sarcasm? Is he from Skeldon?? Bhai Abee Canecutter never use anyone. We ah honest People.

guys compare to skeltonman and nehru the warrior is a moron,when i start thiefing and join the ppp then i will be cool