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. |
From inside the book
Results 1-5 of 31
Page 1
... million new jobs , an average of more than 2.9 million a year.1 Americans were enjoying an unprecedented level of prosperity . Govern- ment's fiscal house was in order . The federal government. Introduction.
... million new jobs , an average of more than 2.9 million a year.1 Americans were enjoying an unprecedented level of prosperity . Govern- ment's fiscal house was in order . The federal government. Introduction.
Page 6
... millions of un- employed . It is hard for Americans today to imagine unem- ployment at such levels , or what unemployment could be like in the absence of any federal unemployment insurance pro- gram . Millions of Americans were ...
... millions of un- employed . It is hard for Americans today to imagine unem- ployment at such levels , or what unemployment could be like in the absence of any federal unemployment insurance pro- gram . Millions of Americans were ...
Page 10
... millions of citizens slipping below the poverty line. The federal government is in debt up to its ears, and so are many Americans, as ordinary citizens max out their credit cards and borrow against their home equity in a desperate ...
... millions of citizens slipping below the poverty line. The federal government is in debt up to its ears, and so are many Americans, as ordinary citizens max out their credit cards and borrow against their home equity in a desperate ...
Page 48
... millions of immigrants— some 13.5 million between 1865 and 1900 — who poured into tenement neighborhoods in New York and other cities of the North.3 With the immigrants came the predictable manifesta- tions of poverty and social ...
... millions of immigrants— some 13.5 million between 1865 and 1900 — who poured into tenement neighborhoods in New York and other cities of the North.3 With the immigrants came the predictable manifesta- tions of poverty and social ...
Page 49
You have reached your viewing limit for this book.
You have reached your viewing limit for this book.
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 |
Other editions - View all
Common terms and phrases
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