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Joseph E. Stiglitz: Political Causes, Political Solutions
The International Monetary Fund is absolutely right that inequality is bad for stability. But even before the I.M.F. documented this relationship, the United Nations Commission of Experts on Reforms of the International Monetary and Financial System identified increasing inequality as one of the most important factors contributing to the Great Recession of 2008.
In “The Price of Inequality,” I explain the channels through which inequality commonly leads to instability. Both were in evidence in our recent crisis.
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