by Michael Krieger
Yesterday, I came across an excerpt from a book written by economist Joseph Stiglitz, which touched upon many crucial points regarding the U.S. economy. I think it’s an important read since it helps explain the roots of the current rebellion taking place within the political system.
Americans aren’t angry because other Americans are fabulously wealthy. Americans are angry because the economy is intentionally rigged to benefit a small group of individuals known as “insiders.” They’re angry because rather than add value to society, these insiders parasitically take from society. Rent-seeking is what economists call their destructive behavior, and the public is fed up with it.