How to Restore Equitable and Sustainable Economic Growth in the United States

Joseph Stiglitz

American Economic Review, 2016, vol. 106, issue 5, 43-47

Abstract: Today's weakness in the US economy results from lack of aggregate demand, due to high and growing inequality, underinvestment in public infrastructure and technology that is complementary to private capital, continuing mild austerity, difficulties encountered in making the structural transformation from manufacturing to a service-based economy, and a financial sector failing to provide adequate funds to SMEs. An agenda to restore growth includes a carbon price, inducing climate investments; increased public investments in infrastructure and technology; fighting inequality through redistribution and rewriting the rules structuring the economy; and reforming the financial sector and the global reserve system.

JEL-codes: E23 E32 E44 E61 E62 H50 (search for similar items in EconPapers)
Date: 2016
Note: DOI: 10.1257/aer.p20161006
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Citations: View citations in EconPapers (29)

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