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Intelligence Squared

Joseph Stiglitz on the Great Divide

Intelligence Squared

Intelligence Squared

Arts, News, Society & Culture, News Commentary

4.21.1K Ratings

🗓️ 22 December 2017

⏱️ 62 minutes

🧾️ Download transcript

Summary

Inequality is an increasing problem in the Western world, leaving everyone – the rich as well as the poor – worse off. The dream of a socially mobile society is becoming an ever more unachievable myth. That’s the view of Nobel Prize-winning economist Joseph Stiglitz, who came to the Intelligence Squared stage for a rare London appearance on May 20th. Stiglitz argued that inequality is not inevitable but a choice – the cumulative result of unjust policies and misguided priorities. Stiglitz was joined on stage by Economics Editor of Sky News Ed Conway. Support this show http://supporter.acast.com/intelligencesquared. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:28.0

I present Professor Joe Sickles.

0:32.0

Okay.

0:33.0

Well, it's a real pleasure to be here and to see as a so much interest in the issue of inequality.

0:42.0

In a way, I can't help but say I wish that magnitude of interest

0:46.4

of being shown last Thursday the the you know when you write something you always hope that something will get a reaction and when my book came out I was actually a little bit pleased that the Wall Street Journal wrote a article, a review of the book,

1:08.0

and they were complaining about my complaining about inequality.

1:14.2

I think they thought that there should be two more inequality and I thought there was

1:17.8

less so we had a disagreement. Let me spend a minute talking about the origins of my own interest in the subject.

1:28.0

I grew up in Gary, Indiana, which is a town in the southern shore of Lake Michigan, the history of which

1:37.0

really reflects the history of industrialization and de-industrialization in the United States. It was founded in 1906 as the largest

1:47.7

integrated steel mill in the world. It was a real company town. It was named after the chairman of the board of U.S. Steel. You can't be more of a company town than that.

2:00.0

And, but it was in some ways a very progressive town.

2:07.0

The school system was led by somebody called Willard Wirt, who was a protégé of John Dewey.

2:16.7

So it introduced a lot of very progressive ideas.

2:20.4

But even at the period when I was growing up, which was the late 50s,

2:29.0

you couldn't but help notice the high level of inequality in this industrial America.

...

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