Who Stole the American Dream?
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Imprint:
New York - Random House
Pages:
557
Edition:
1st ed
ISBN:
9781400069668, 1400069661, 9780679604648, 0679604642
Language:
English
Notes:
The challenge from within -- Power shift. The business rebellion : the power shift that changed American history ; The pivotal Congress : Jimmy Carter and 1977-78 Democrats ; Middle-class power : how citizen action worked before the power shift ; Middle-class prosperity : how "the virtuous circle" worked before the new economy -- Dismantling the dream. The new economy of the 1990s : the wedge economics that split America ; The stolen dream : from middle-class to the new poor ; The great burden shift : funding your own safety net, crippled by debt ; The wealth gap : the economics "of the 1%, by the 1%, for the 1%" -- Unequal democracy. The new 2000s power game : why Congress often ignores public opinion ; The Washington-Wall Street symbiosis : the inside track of "the money monopoly" -- Middle-class squeeze. Broken promises : bankrupting middle-class pensions ; 401(K)'s : do-it-yourself : can you really afford to retire? ; Housing heist : prime targets : the solid middle class ; The great wealth shift : how the banks eroded middle-class savings ; Offshoring the dream : the Wal-Mart trail to China ; Hollowing out high-end jobs : IBM : shifting the knowledge economy to India ; The skills gap myth : importing IT workers costs masses of U.S. jobs -- Obstacles to a fix. The missing middle : how gridlock adds to the wealth gap ; The rise of the radical right, 1964-2010 : assault on the middle-class safety net ; The high cost of imperial overstretch : how the U.S. global footprint hurts the middle class -- Challenge and response. Reclaiming the dream : a domestic Marshall plan : a ten-step strategy ; Politics : a grassroots response : reviving the moderate center and middle-class power -- Appendix. Stolen dream timeline : key events, trends, and turning points, 1948-2012
Statement of responsibility:
by Hedrick Smith
Characteristics:
xxxi, 557 p. ;,24 cm
Author (Original Script):
Smith, Hedrick
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Add a CommentIf they CEOs are to blame, how come a bad JPMorgan Chase CEO is replaced with a crooked Jamie Dimon? Ditto for Morgan Stanley, Goldman Sachs, BankofAmerica, Citigroup, etc.? There was never any "American Dream" that was the psychobabble pushed by the disinformation specialists on THEIR media outlets. Who owns JPMorgan Chase? Morgan Stanley? GE? AT&T? Citigroup? Bank of America? Most Americans are clueless who even owns their place of employment or rental property. Ten out of ten Americans had no idea the LIBOR case was dismissed, nor even that there was a LIBOR trial? Economic democracy has yet to exist, and that should be the ultimate goal.
I have an MBA and the curriculum includes debates over such items as minimum wage, unions, the responsibilities of the corporation for the welfare of the workers and community. This book describes how the corporations have eschewed their responsibilities for the welfare of their workers and community and now believe that the welfare of their stockholders is their only responsibility. In the 50’s to 70’s, America had CEO’s like Bob Galvin of Motorola (where I worked for 24 years) who believed that the workers were, in essence, a family and what is good for the family is good for the company. Also there were CEO’s like Dunlop who were coming into prominence with beliefs that the workers were just another commodity and that their only purpose was to increase the value of the corporate stock. The result of the takeover by such CEO’s have led to the greatest inequality since the 20’s and now we have a society where America is split egregiously between the 1% who own enormously and the 99% who owe enormously. This book adds greatly to the discussion of how inequality may be ruining lives by the millions and gives some ideas for solutions.