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Who Stole the American Dream?

Smith, Hedrick

Book - 2012
Average Rating: 3.5 stars out of 5.
Who Stole the American Dream?

Publisher: New York : Random House, c2012
Edition: 1st ed
ISBN: 0679604642
Characteristics: xxxi, 557 p. ;,24 cm


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Jan 01, 2014
  • voisjoe1 rated this: 5 stars out of 5.

My MBA included discussion of minimum wage, unions and corporate responsibility for the worker and community welfare. In the 50’s to 70’s, CEO’s like Bob Galvin of Motorola (where I worked for 24 years) believed that workers were, in essence, a family, and what is good for the family is good for the company. CEO’s, like Dunlop, on the other hand, believes workers are just a commodity and that their only purpose was to increase the value of the corporate stock. The result of the takeover by such CEO’s has 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. There is some hope in 2013, as de Blasio, elected mayor of New York, will implement a 5 year plan tor raise the taxes on incomes of $500,000 by $1000 (incomes of a billion would have a tax increase of a million of which there are plenty on Wall Street) and this money would be spent on universal pre-school and universal after-school programs for middle-schoolers). Howling will come from Fox News and Limbeckity that taxes on the 1% should be reduced not increased. They will say that benefits to kids is just a waste of money.

Sep 11, 2013

Sept 9, 2013....Just spent the last month or so slogging through this book. It was worth it though, very eye opening, just a little heavy on politics for me. Our library system does not have a copy yet, a friend twigged me to it, but his copy was on his e-reader, so he could not lend it to me (ah!, a downside to e-readers!) so I ordered it through my library, and got the copy from the University of Alberta. How cool is that! Libraries rock! Anyway, if you want to know what's happening to the middle class dream, read this book. You will be enlightened. (and if you live in Canada, like I do, you will be a little enriched as to how American politics works, not that it's the most interesting subject in the world, just maybe a good little tidbit of info to have under your belt.) Oh, and StarGladiator, your comment goes WAY over my head!

Apr 15, 2013
  • StarGladiator rated this: 2 stars out of 5.

If 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.


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app10 Version ofelia Last updated 2015/03/23 12:01