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    Posted January 26, 2014 by
    New York City, New York

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    The Threat of Growing Inequalities Conference, United Nation HQ, January 20, 2014 Part 5

    Interactive debate among Permanent Representatives, international agencies, foundations and civil society.

    Professor Joseph Stiglitz speech on extreme economic inequalities.

    Professor Stiglitz began his address by quoting Rev. Martin Luther King.

    A true revolution of values will soon cause us to question the fairness and justice of many of our past and present policies. On the one hand we are called to play the good Samaritan on life's roadside; but that will be only an initial act. One day we must come to see that the whole Jericho road must be change so that men and women will not be constantly beaten and robbed as they make their journey on life's highway. True compassion is more than flinging a coin to a beggar. A true revolution of values will soon look uneasily on the glaring contrast of poverty and wealth with righteous indignation.

    (A Time to Break Silence, By Rev. Martin Luther King)

    I want to say to you as I move to my conclusion, as we talk about "Where do we go from here?" that we must honestly face the fact that the movement must address itself to the question of restructuring the whole of American society. There are forty million poor people here, and one day we must ask the question, "Why are there forty million poor people in America?" And when you begin to ask that question, you are raising a question about the economic system, about a broader distribution of wealth. When you ask that question, you begin to question the capitalistic economy. And I'm simply saying that more and more, we've got to begin to ask questions about the whole society.

    (Where Do We Go From Here? By Rev. Martin Luther King)

    He gave examples of extreme economic inequality existence. One example is the economic gains made during the 2009 recovery and up to the present, 95% of the economic gains only went to the upper 1% of the population. For most people there is still no recovery.

    He also discussed the hollowing out of the middle and more people now are in the bottom of the economic ladder.

    Professor Stiglitz urges the United Nations body to work on the reduction or elimination of economic inequality in its extreme form. He warns that extreme economic inequality has harmful effects in our economy and in our society.
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