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The incomes of most Americans today are static or declining. Tens of millions of workers are newly vulnerable to layoffs and outsourcing. Health care and retirement burdens are increasingly being shifted from employers to individuals. Two-income families find they are working longer hours for lower wages, with decreased social support. As wealth has become more concentrated, the economy has become more recklessly speculative, jeopardizing not only the prospects of ordinary Americans, but the solvency of the entire system. What links these trends, writes journalist Kuttner, is the consolidation of political and economic power by a narrow elite, who blocks the ability of government to restore broad prosperity to the majority of citizens. Kuttner--one of our most lucid economic critics--explores the roots of these problems and outlines a persuasive, bold alternative, a new model of managed capitalism that can deliver security and opportunity, and rekindle democracy as a check on concentrated wealth.--From publisher description.… (más)
†The Squandering of America is an extraordinarily compelling argument for increased financial regulation and managed capitalism and is highly recommended for public, government, and academic libraries.
Kuttner (Everything for Sale, 1997) – former Chief Investigator of the US Senate Committee on Banking, Housing & Urban Affairs adroitly synthesizes the political processes and dynamics of managed and unmanaged capitalism leading to the current state of finance and regulatory oversight/undersight. Kuttner explores a vast array of factors from the proliferation of hedge funds, offshore banking and risky commercial lending to the pressure to relocate jobs overseas and the massive accumulation of US debt to foreign accounts. He contends that corruption of democratic processes has enabled an ‘elite’ class to cash in without adding anything of measurable value to the economy – while the real standard of living for the general public has plummeted. Although the evidence leads to a bleak and disturbing financial picture, Kuttner shows how reversal of numerous policies and adoption of a system more closely resembling the European economic model could help return us to a more equitably distributed economy. ( )
Attracted by the title, I wonder if Kuttner will be criticizing the Obama administration to the same extent as he has the Bush administration; likewise, I am curious to see if he is chary of supporting Rubin, et. al., since he views their previous policies as so problematic up to this point.
Not at all. Kuttner is an unapologetic apologist for all things Obama.
Información procedente del conocimiento común inglés.Edita para encontrar en tu idioma.
When I finished writing the first edition of The Squandering of America in May 2007, the subprime mortgage meltdown was just beginning to beginning to be understood as more than a passing blip. The readers will find herein several pages on subprime, but my subject was and is the deeper vulnerability of the U.S. economy, due to three decades of political assault on institutions that once provided broad security, transparency, and shared prosperity. -Preface to the Vintage Edition
Americans have the good fortune to live in a nation that has stood for political liberty and economic opportunity since its founding. Even in the republic's early years, when we cherished our isolation from a troubled world, the American idea was a beacon to other nations. In the twentieth century, a bolder, more outward-looking America came to stand for enlightened leadership globally. At home, a more democratic America became a more balanced society. Public policies promoted broad prosperity and economic security, by harnessing the creative, often chaotic power of capitalism for the general good. -Introduction, Failures of Policy
This story of widening inequality is not exactly breaking news. It has been the subject of several popular and scholarly books, and economic stagnation is experienced every day by most Americans. My purpose here is not the repeat thrice-told economic tales but to explore a political mystery: Why is this fundamental issue off the political radar screen except in symbolic ways that address neither cause nor remedy? Why are people not demanding that the political system respond? Where are the leaders? -Chapter 1, A Hidden Depression
The incomes of most Americans today are static or declining. Tens of millions of workers are newly vulnerable to layoffs and outsourcing. Health care and retirement burdens are increasingly being shifted from employers to individuals. Two-income families find they are working longer hours for lower wages, with decreased social support. As wealth has become more concentrated, the economy has become more recklessly speculative, jeopardizing not only the prospects of ordinary Americans, but the solvency of the entire system. What links these trends, writes journalist Kuttner, is the consolidation of political and economic power by a narrow elite, who blocks the ability of government to restore broad prosperity to the majority of citizens. Kuttner--one of our most lucid economic critics--explores the roots of these problems and outlines a persuasive, bold alternative, a new model of managed capitalism that can deliver security and opportunity, and rekindle democracy as a check on concentrated wealth.--From publisher description.
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Kuttner (Everything for Sale, 1997) – former Chief Investigator of the US Senate Committee on Banking, Housing & Urban Affairs adroitly synthesizes the political processes and dynamics of managed and unmanaged capitalism leading to the current state of finance and regulatory oversight/undersight. Kuttner explores a vast array of factors from the proliferation of hedge funds, offshore banking and risky commercial lending to the pressure to relocate jobs overseas and the massive accumulation of US debt to foreign accounts. He contends that corruption of democratic processes has enabled an ‘elite’ class to cash in without adding anything of measurable value to the economy – while the real standard of living for the general public has plummeted. Although the evidence leads to a bleak and disturbing financial picture, Kuttner shows how reversal of numerous policies and adoption of a system more closely resembling the European economic model could help return us to a more equitably distributed economy. (