The American Dream vs. The Gospel of Wealth: The Fight for a Productive Middle-Class Economy

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Yale University Press, Oct 1, 2008 - Political Science - 240 pages
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Norton Garfinkle paints a disquieting picture of America today: a nation increasingly divided between economic winners and losers, a nation in which the middle-class American Dream seems more and more elusive. Recent government policies reflect a commitment to a new supply-side winner-take-all Gospel of Wealth. Garfinkle warns that this supply-side economic vision favors the privileged few over the majority of American citizens striving to better their economic condition.Garfinkle employs historical insight and data-based economic analysis to demonstrate compellingly the sharp departure of the supply-side Gospel of Wealth from an American ideal that dates back to Abraham Lincoln—the vision of America as a society in which ordinary, hard-working individuals can get ahead and attain a middle-class living, and in which government plays an active role in expanding opportunities and ensuring against economic exploitation. Supply-side economic policies increase economic disparities and, Garfinkle insists, they fail on technical, factual, moral, and political grounds. He outlines a fresh economic vision, consonant with the great American tradition of ensuring strong economic growth, while preserving the middle-class American Dream.

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Reality or A Dream.

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A quote from the book, pages 4-5: "One vision, based on the American Dream, supports a progressive tax structure that enables the government to implement programs to strengthen the income and economic ... Read full review

Selected pages


1 The American Economic Vision
The Origins of the American Dream
3 The Gospel of Wealth
4 The Age of Reform
5 The Business of America Is Business
6 The Renewal of the American Dream
7 The New Gospel of Wealth
SupplySide vs DemandSide Economics
9 The Way Forward
GDP Consumption Investment Employment Unemployment and Marginal Tax Rates 19512004

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