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A Nobel laureate punctures the myth of the American 'golden age'
A Nobel laureate punctures the myth of the American 'golden age'

Nobel economist Joseph E. Stiglitz has taken aim at the enduring and dangerous myth that the postwar years ushered in an American golden age of opportunity that can, or should, be recaptured today. In the current Politico Magazine, Stiglitz offers an alternative picture, seen through his experience as one of our outstanding critics of rising income inequality. In the Gary, Ind., in which he grew up in the 1940s and '50s, Stiglitz writes, "smokestacks poured poisons into the air. Periodic layoffs left many families living hand to mouth. Even as a kid, it seemed clear to me that the free market as we knew it was hardly a formula for sustaining a prosperous, happy and healthy society."...

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