'Scandinavian Dream' is true fix for America's income inequality [View all]

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Income inequality has gotten so bad in America that it's now easier to get ahead in many other countries, says Nobel Prize-winning economist Joseph Stiglitz.

Decades of deregulation and lowering taxes for the wealthy and businesses -- with the hope of it eventually benefiting the middle and working classes -- has created a chasm between the rich and everyone else, Stiglitz told CNNMoney.

To get back to a more equal society, he suggests we take a page from some of our European neighbors and restore the balance between government, business and labor.

"Maybe we should be calling the American Dream the Scandinavian Dream," he told CNNMoney.

The Scandinavian countries changed their education systems, social policies and legal frameworks to create societies where there is a higher degree of mobility. That made their countries more into the land of opportunity that America once was.

http://money.cnn.com/2015/06/03/news/economy/stiglitz-income-inequality/