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...Monopoly s new era by joseph e stiglitz project syndicate economics recipient of the nobel memorial prize in economic sciences and john bates clark medal is university professor at columbia cochair highlevel expert group on measurement performance social progress oecd chief economist roosevelt institute a former senior vice president world bank chair us council advisers under bill clinton he founded initiative for policy dialogue think tank international development based his most recent book rewriting rules american economy may york years there have been two schools thought about what determines distribution income how functions one emanating from adam smith nineteenthcentury liberal economists focuses competitive markets other cognizant brand liberalism leads to rapid concentration wealth takes as its starting point unfettered tendency toward it important understand both because our views government policies existing https www org print high prots persist inequalities are shaped whic...