Speaking to the BBC’s economics editor Stephanie Flanders at the World Economic Forum in Davos, Switzerland, Joseph 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.”