Joseph Stiglitz, Nobel Laureate in Economics, Chairman of the Economic Council under President Clinton and Chief Economist of the World Bank, explains why America, and with it other countries, is in crisis. The main reason is blind faith in the efficiency of markets, in self-regulation, in the idea that the richer the owners of corporations, the better for everyone, since they will inevitably turn their windfall profits into investments. According to Stiglitz, markets cannot work effectively without proper regulation by the state: otherwise society will end up with poorly managed globalization, increasing bargaining power of corporations and unjustified income inequality. The author shows how we came to this situation and gives recommendations on what needs to be done to move forward. The book presents an alternative to Reaganomics and Trumponomics, an alternative that is based on the achievements of modern economics and should ensure common prosperity.