Tuesday, May 1, 2012

Quotation for Today: American Capitalism: A Failed Economic System

The quotation for today introduces an interview conducted by The European, and it emphasizes the extreme economic and financial degradation that American middle- and working-class workers have experienced. 
"Most Americans today are worse off than they were fifteen years ago. A full-time worker in the US is worse off today than he or she was 44 years ago. That is astounding – half a century of stagnation. The economic system is not delivering."
Joseph Stiglitz

Joseph Stiglitz is a Nobel Laureate (economics) and he teaches at Columbia University.  His comments, presented above, were part of his answers given in a wide-ranging interview conducted by Martin Eiermann of The European.

To read the complete interview, follow the link included in the citation.

Eiermann, Martin. "Austerity, and a New Recession?." The European 23 April, 2012: online edition. 

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