The American Dream vs. The Gospel of Wealth: The Fight for a Productive Middle-Class EconomyNorton 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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... issues and to help Americans build a shared , sensible , and positive vision of the future of our demo- cratic society . The Future of American Democracy Foundation is a non- profit , nonpartisan foundation dedicated to research and edu ...
... issues and to help Americans build a shared , sensible , and positive vision of the future of our demo- cratic society . The Future of American Democracy Foundation is a non- profit , nonpartisan foundation dedicated to research and edu ...
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... issue of fairness and in the process they had neglected job 1 - which was to make the economy grow . One could engineer fairness , the supply - siders believed , only at the expense of economic growth . The government had been trying ...
... issue of fairness and in the process they had neglected job 1 - which was to make the economy grow . One could engineer fairness , the supply - siders believed , only at the expense of economic growth . The government had been trying ...
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... issues at the expense of the moral and the political questions. That was simply a debating posture. It was another thing to actually have a factual basis for their claims (see chapter 8). Absent such factual support, it is interesting ...
... issues at the expense of the moral and the political questions. That was simply a debating posture. It was another thing to actually have a factual basis for their claims (see chapter 8). Absent such factual support, it is interesting ...
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... issues on technical - factual grounds that presume that the single important objective of economic pol- icy is the growth of the economy . It is also a sign that we live in a time when the Gospel of Wealth is again in political ...
... issues on technical - factual grounds that presume that the single important objective of economic pol- icy is the growth of the economy . It is also a sign that we live in a time when the Gospel of Wealth is again in political ...
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... issue in today's policy debate . Eco- nomic policy debates are marked by numerous unsupported assertions — which ... issues in chapter 8 ) . But factual consequences were not the only ones . Presi- 18 The American Economic Vision.
... issue in today's policy debate . Eco- nomic policy debates are marked by numerous unsupported assertions — which ... issues in chapter 8 ) . But factual consequences were not the only ones . Presi- 18 The American Economic Vision.
Contents
1 | |
12 | |
27 | |
47 | |
4 The Age of Reform | 69 |
5 The Business of America Is Business | 88 |
6 The Renewal of the American Dream | 107 |
7 The New Gospel of Wealth | 144 |
SupplySide vs DemandSide Economics | 163 |
9 The Way Forward | 189 |
GDP Consumption Investment Employment Unemployment and Marginal Tax Rates 19512004 | 201 |
Notes | 205 |
Index | 221 |
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administration aggregate demand Ameri American Dream bank BEST Budget Bureau of Economic Bush tax cuts business investment business owners citizens clear the path consumer decades deficit spending demand-side democracy Democratic economic growth economic policy economists effect Engen and Skinner federal government Federal Reserve fiscal policy G.I. Bill GDP growth Gilded Age Gospel of Wealth Historical Statistics Ibid Income and Product income tax rate increase increasingly industrial inflation Kennedy Keynes Keynesian laissez-faire Lincoln low top marginal major marginal income tax marginal tax rates ment MIDDLE middle-class millions monetary policy National Income neo-Keynesian economics nomic personal consumption political President progress progressive tax prosperity Reagan real growth recession reducing reform Republican role Roosevelt Social Darwinism society stagflation supply-side economics supply-side tax cuts tariffs tax cuts Tax Policy taxpayers tion top marginal income top marginal rate U.S. Department U.S. economy unemployment Union United vision workers WORST York