Themes of Books

Themes of Books

Introduction

There are two books discussed in this paper. First is The Price of Inequality written by Joseph E. Stiglitz. The second book is by Richard Haass, Foreign Policy Begins at Home. The paper aims to discuss different themes discussed in the books with an analytical approach. The study highlights the current challenges of USA economy due to globalization and the importance of policies to meet the challenges of globalization. In addition to this the paper also highlights the current problems of the country which includes unemployment, income inequality and non effective policies in long term. This relatively short book is predicated on a consequential idea: The biggest threat to America's security and prosperity comes not from abroad but from within (Haass, 2013).

Discussion

After the economic recessions period during 2009 in US economy various steps have been taken by the government in order to stabilize the economy. In the beginning the effects of these steps were very visible on the economy but with the passage of time effects become slow. The policies were made to reduce the bad effects of economic recession but the long term effects of these policies have been slower. The economy of United States is still facing crises in some sectors due to globalization. The phenomenon of globalization has various benefits but simultaneously it brings many challenges to the economies of the countries. The discussion below highlights the current economic challenges faced by the United States.

It also reflects some recommendations or suggestions by the author of the article to overcome the economic challenges of the country. The author also emphasizes on the implementation of the long term policies for economic crises or challenges.Economic crises of 2009 caused budget deficit and a large current account deficit. To the contrary, shortcomings here at home directly threaten America's ability to project power and exert impudence overseas, to compete in the global marketplace, to generate the resources needed to promote the full range of US interests abroad, and to set a compelling example that will impudence the thinking and behavior of others (Stiglitz, 2012).

The unemployment is targeting especially to low skilled workers. The major reason is globalization because due to global environment many immigrants from different countries are coming to United States, the more skilled workers are entering in the US market and they are ready to work at low wages also. This is causing local or domestic unemployment in the countries. Low skilled workers in United States are not being offered jobs by the local and international companies. The recession has caused reduction in the demand of workers in the country. The other face of the picture is this that the rat of minimum wage rate in the United States is high as compared to other countries because US is a capital intensive country.

Income inequality refers the situation in which people enjoy different levels of incomes. The level of income inequality is higher in the United States as compared to other developed countries like North America ...