The nature of our growth today is markedly different than in the decades after World War II. There we had shared prosperity. More recently, what we’ve had is exactly the opposite. … Right now, most Americans are worse off than they were 15 years ago. There has not been shared prosperity.
— Nobel Prize-winning economist Joseph Stiglitz argues that widely unequal societies don’t function effectively or have stable economies and that even the rich will pay a steep price if economic inequalities continue to worsen.