A potent chronicle of America’s “extreme inequality, the worst by far of any nation with a modern economy.”
Investigative reporter Johnston (The Fine Print: How Big Companies Use "Plain English" to Rob You Blind, 2012, etc.) collects together writings from forty authors representing many different fields of endeavor to present a multifaceted picture of inequality.
Among the contributors are President Barack Obama, Sen. Elizabeth Warren, Nobel laureates Joseph Stiglitz and Paul Krugman, journalist Barbara Ehrenreich, international trade unionists, and specialists from academia and the think-tank world—even Studs Terkel. The keynote of the collection is the president's Dec. 6, 2011, speech in Osawatomie, Kan., in which he argued that widening inequality contributed to the financial collapse in 2008. On that occasion, Obama struck a note of optimism about his reforms and their prospects for implementation. Johnston's introduction is quite a bit more pessimistic, as he notes that nearly 95 percent of all income gains between 2009 and 2012 went to the top 1 percent. The income of the “vast majority, the bottom 90 per cent,” shrank by 15.7 percent on average, to a level lower than it was in 1966. Other contributors fill out the picture and shape a timeline of the widening of the divisions. Warren's piece on the disappearing middle class was written in 2004. In 2007, Ehrenreich exposed Home Depot Chairman Robert Nardelli's monstrous 2007 golden parachute. A chapter by Donald S. Shepherd, Elizabeth Setren and Donna Cooper on how hunger increased in America during the recession by 30 percent appeared on Slate in 2012. Also documented: how income inequality constricts access to goods both public and private, like food, education and health care. Johnston includes an excerpt from Adam Smith's 1776 Wealth of Nations: “By necessaries I understand not only the commodities which are indispensably necessary for the support of life, but whatever the custom of the country renders it indecent for creditable people, even of the lowest order, to be without.”
A potent chronicle of America’s “extreme inequality, the worst by far of any nation with a modern economy.”Pub Date: April 1, 2014
ISBN: 978-1-59558-923-1
Page Count: 320
Publisher: The New Press
Review Posted Online: Feb. 25, 2014
Kirkus Reviews Issue: March 15, 2014
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
For Howard Zinn, long-time civil rights and anti-war activist, history and ideology have a lot in common. Since he thinks that everything is in someone's interest, the historian—Zinn posits—has to figure out whose interests he or she is defining/defending/reconstructing (hence one of his previous books, The Politics of History). Zinn has no doubts about where he stands in this "people's history": "it is a history disrespectful of governments and respectful of people's movements of resistance." So what we get here, instead of the usual survey of wars, presidents, and institutions, is a survey of the usual rebellions, strikes, and protest movements. Zinn starts out by depicting the arrival of Columbus in North America from the standpoint of the Indians (which amounts to their standpoint as constructed from the observations of the Europeans); and, after easily establishing the cultural disharmony that ensued, he goes on to the importation of slaves into the colonies. Add the laborers and indentured servants that followed, plus women and later immigrants, and you have Zinn's amorphous constituency. To hear Zinn tell it, all anyone did in America at any time was to oppress or be oppressed; and so he obscures as much as his hated mainstream historical foes do—only in Zinn's case there is that absurd presumption that virtually everything that came to pass was the work of ruling-class planning: this amounts to one great indictment for conspiracy. Despite surface similarities, this is not a social history, since we get no sense of the fabric of life. Instead of negating the one-sided histories he detests, Zinn has merely reversed the image; the distortion remains.
Pub Date: Jan. 1, 1979
ISBN: 0061965588
Page Count: 772
Publisher: Harper & Row
Review Posted Online: May 26, 2012
Kirkus Reviews Issue: Jan. 1, 1979
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
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