I think people like Stiglitz skirt a major factor that leads to destitution, low moral and low productivity => theocratic religion bookended by no religion at all.
The rise and fall of empires can track the phases of religious piety. Our current 500 year phase of industrial and technical revolutions can be traced back to the formal establishment of the English Church, itself an expression of a European protestant ground swell.
It's no secret which countries are restrained and poorer for it because of bellicose jingoism masquerading as Abrahamic religion. No secret the turning away from moderate christian principles is hurting the West.
That is my take on things, but I will admit life for me is much more rewarding today than it was yesteryear thanks to human advances in all but common sense.
