From Joseph Stiglitz:
What we have been observing – wage stagnation and rising inequality, even as wealth increases – does not reflect the workings of a normal market economy, but of what I call “ersatz capitalism.” The problem may not be with how markets should or do work, but with our political system, which has failed to ensure that markets are competitive, and has designed rules that sustain distorted markets in which corporations and the rich can and unfortunately do exploit everyone else.
Read more at Democracy in the Twenty-First Century by Joseph E. Stiglitz – Project Syndicate.