America has more inequality than any of the other advanced countries and it's only getting worse, said Joseph Stiglitz, author of 'The Great Divide' and Nobel Prize winning economist. Stiglitz added that America also excels at inequality when it comes to opportunity. He said the shift started during the Reagan administration with introduction of supply side economics and increasing deregulation. Stiglitz said the opening of China and technology gains also played a role in the dislocation of the American middle class, yet globalization has failed to make the nation wealthier and raise the middle class. Finally, Stiglitz said the best ways to narrow the 'Great Divide' is through education, a change in tax policies and stricter anti-trust laws.

More from Video

Jim Cramer Reacts to Apple's Price Target Raise at Bank of America Merrill Lynch

Jim Cramer Reacts to Apple's Price Target Raise at Bank of America Merrill Lynch

Jim Cramer: Kohl's Is a Buy

Jim Cramer: Kohl's Is a Buy

Jim Cramer: This Is a Rotational Bull Market

Jim Cramer: This Is a Rotational Bull Market

Jim Cramer on the Bull Market, Kohl's, TJX Companies, Apple and Toll Brothers

Jim Cramer on the Bull Market, Kohl's, TJX Companies, Apple and Toll Brothers

Here's Why You Should Invest in Immunotherapy Companies

Here's Why You Should Invest in Immunotherapy Companies