http://www.project-syndicate.org/commentary/the-price-of-inequality

Joseph E. Stiglitz is   beating the devil again

"...a look at the top reveals a disproportionate role for rent-seeking:
 some have obtained their wealth by exercising monopoly power;

others are CEOs who have taken advantage of deficiencies in corporate governance to extract for themselves an excessive share of corporate earnings;

and still others have used political connections to benefit from government munificence – either excessively high prices for what the government buys (drugs), or excessively low prices for what the government sells (mineral rights) "


"America’s inequality is undermining its values and identity.
With inequality reaching such extremes, it is not surprising
that its effects are manifest in every public decision,
 from the conduct of monetary policy to budgetary allocations. "