The same idea holds true for other institutions, such as universities. Ivy Leagues including Princeton and Harvard receive a disproportionate amount of money from “the rich” – hardly a democratic choice for research and scholarship.
Actually, most people will not be affected by the outcome at all. The majority of the world does not even know who Mitt Romney is. Even though the author creates a negative and pessimistic tone, his effect of elevating the United States to this level of importance should be questioned.
What is more "unfortunate" about the election is the fact that almost a majority of Americans themselves do not vote. Instead of worrying about the global, perhaps Stiglitz should address the root cause of this problem at home.