Joseph E. Stiglitz
Inequality is not simply a byproduct of markets; it is shaped by political choices that let the wealthy capture an outsized share of economic gains.
The most affluent individuals often build vast fortunes not just by creating new economic value, but by using monopolies, tax loopholes, and favorable regulations to extract more wealth from the rest of society.
The widespread assumption that enriching the wealthy will ultimately benefit the broader population has proven false in practice, as rising top incomes have coincided with severe wage stagnation for the middle class.
Deregulation enabled the financial sector to expand predatory lending and reckless securitization, allowing firms to keep large profits while shifting major losses onto the public.