The strong U.S. economy in the late 1990s has validated the bold thesis of this book. Created Unequal shows that America's historically high inequality of pay and incomes is not the result of impersonal market forces such as technology or trade, but of bad economic policies over several decades and the poor performance they created. Featuring a new preface on the improvements since 1994, Created Unequal is a rousing book that reminds us we can reclaim our country through economic understanding, commonsense policy, and political action.
This book examines the life and work of John Kenneth Galbraith, a truly iconic figure in progressive modern liberalism and a seminal influence in the rise of heterodox political economy. It emphasizes his continuing relevance to the current research of today, and to the multifaceted crisis of democratic capitalism.
The strong U.S. economy in the late 1990s has validated the bold thesis of this book. Created Unequal shows that America's historically high inequality of pay and incomes is not the result of impersonal market forces such as technology or trade, but of bad economic policies over several decades and the poor performance they created. Featuring a new preface on the improvements since 1994, Created Unequal is a rousing book that reminds us we can reclaim our country through economic understanding, commonsense policy, and political action.
A progressive economist challenges popular conservative-minded economic practices, in a scathing critique of Reagan-Bush policies that contends that the political right is misrepresenting the consequences of free-market and free-trade ideals. 50,000 first printing.
As Wall Street rose to dominate the U.S. economy, income and pay inequalities in America came to dance to the tune of the credit cycle. As the reach of financial markets extended across the globe, interest rates, debt, and debt crises became the dominant forces driving the rise of economic inequality almost everywhere. Thus the "super-bubble" that investor George Soros identified in rich countries for the two decades after 1980 was a super-crisis for the 99 percent-not just in the U.S. but the entire world. Inequality and Instability demonstrates that finance is the driveshaft that links inequality to economic instability. The book challenges those, mainly on the right, who see mysterious forces of technology behind rising inequality. And it also challenges those, mainly on the left, who have placed the blame narrowly on trade and outsourcing. Inequality and Instability presents straightforward evidence that the rise of inequality mirrors the stock market in the U.S. and the rise of finance and of free-market policies elsewhere. Starting from the premise that fresh argument requires fresh evidence, James K. Galbraith brings new data to bear as never before, presenting information built up over fifteen years in easily understood charts and tables. By measuring inequality at the right geographic scale, Galbraith shows that more equal societies systematically enjoy lower unemployment. He shows how this plays out inside Europe, between Europe and the United States, and in modern China. He explains that the dramatic rise of inequality in the U.S. in the 1990s reflected a finance-driven technology boom that concentrated incomes in just five counties, very remote from the experience of most Americans-which helps explain why the political reaction was so slow to come. That the reaction is occurring now, however, is beyond doubt. In the aftermath of the Great Financial Crisis, inequality has become, in America and the world over, the central issue. A landmark work of research and original insight, Inequality and Instability will change forever the way we understand this pivotal topic.
The years since the Great Crisis of 2008 have seen slow growth, high unemployment, falling home values, chronic deficits, a deepening disaster in Europe--and a stale argument between two false solutions, "austerity" on one side and "stimulus" on the other. Both sides and practically all analyses of the crisis so far take for granted that the economic growth from the early 1950s until 2000--interrupted only by the troubled 1970s--represented a normal performance. From this perspective the crisis was an interruption, caused by bad policy or bad people, and full recovery is to be expected if the cause is corrected. The End of Normal challenges this view. Placing the crisis in perspective, Galbraith argues that the 1970s already ended the age of easy growth. The 1980s and 1990s saw only uneven growth, with rising inequality within and between countries. And the 2000s saw the end even of that--despite frantic efforts to keep growth going with tax cuts, war spending, and financial deregulation. When the crisis finally came, stimulus and automatic stabilization were able to place a floor under economic collapse. But they are not able to bring about a return to high growth and full employment. Today, four factors impede a return to normal. They are the rising costs of real resources, the now-evident futility of military power, the labor-saving consequences of the digital revolution, and the breakdown of law and ethics in the financial sector. The Great Crisis should be seen as a turning point, a barometer of the rise of unstable economic conditions, which should be regarded as the new normal. Policies and institutions going forward should be designed, above all, modestly, to cope with this fact, maintaining conditions for a good life in difficult times"--
Robert S. McNamara is one of modern America's most controversial figures. His opinions, policies, and actions have led to a firestorm of debate, ignited most recently by Errol Morris's Academy Award-winning film, The Fog of War. In the companion book, editors James G. Blight and janet M. Lang use lessons from McNamara's life to examine issues of war and peace in the 20th century. McNamara's career spans some of America's defining events--from the end of World War I, through the course of World War II, and the unfolding of the Cold War in Cuba, Vietnam, and around the world. The Fog of War brings together film transcripts, documents, dialogues, and essays to explore what the horrors and triumphs of the 20th century can teach us about the future.
Over the past thirty years, the issue of economic inequality has emerged from the backwaters of economics to claim center stage in the political discourse of America and beyond---a change prompted by a troubling fact: numerous measures of income inequality, especially in the United States in the last quarter of the twentieth century, have risen sharply in recent years. Even so, many people remain confused about what, exactly, politicians and media persons mean when they discuss inequality. What does "economic inequality" mean? How is it measured? Why should we care? Why did inequality rise in the United States? Is rising inequality an inevitable feature of capitalism? What should we do about it? Inequality: What Everyone Needs to Know takes up these questions and more in plain and clear language, bringing to life one of the great economic and political debates of our age. Inequality expert James K. Galbraith has compiled the latest economic research on inequality and explains his findings in a way that everyone can understand. He offers a comprehensive introduction to the study of economic inequality, including its philosophical and theoretical origins, the variety of concepts in wide use, empirical measures and their advantages and disadvantages, competing modern theories of the causes and effects of rising inequality in the United States and worldwide, and a range of policy measures. The topic of economic inequality is going to become only more important as we approach the 2016 presidential elections. This latest addition to the popular What Everyone Needs to Know series from Oxford University Press will tell you everything you need to know to make informed opinions on this significant issue.
The only available historical dictionary devoted exclusively to the 1940s, this book offers readers a ready-reference portrait of one of the twentieth century's most tumultuous decades. In nearly 600 concise entries, the volume quickly defines a historical figure, institution, or event, and then points readers to three sources that treat the subject in depth. In selecting topics for inclusion, the editors and authors offer a representative slice of life as contemporaneous Americans saw it - with coverage of people; movements; court cases; and economic, social, cultural, political, military, and technological changes. The book focuses chiefly on the United States, but places American lives and events firmly within a global context.
This work contains James K. Galbraith's most influential recent writings on current affairs along with new commentary, and explores both the descent to disaster in Iraq and the ongoing transformation of the American economy under the steerage of Alan Greenspan.
A world-renowned economist offers cogent and powerful reflections on one of the great avoidable economic catastrophes of the modern era The economic crisis in Greece is a potential international disaster and one of the most extraordinary monetary and political dramas of our time. The financial woes of this relatively small European nation threaten the long-term viability of the Euro while exposing the flaws in the ideal of continental unity. "Solutions" proposed by Europe's combined leadership have sparked a war of prideful words and stubborn one-upmanship, and they are certain to fail, according to renowned economist James K. Galbraith, because they are designed for failure. It is this hypocrisy that prompted former finance minister Yanis Varoufakis, when Galbraith arrived in Athens as an adviser, to greet him with the words "Welcome to the poisoned chalice." In this fascinating, insightful, and thought-provoking collection of essays--which includes letters and private memos to both American and Greek officials, as well as other previously unpublished material--Galbraith examines the crisis, its causes, its course, and its meaning, as well as the viability of the austerity program imposed on the Greek citizenry. It is a trenchant, deeply felt commentary on what the author calls "economic policy as moral abomination," and an eye-opening analysis of a contemporary Greek tragedy much greater than the tiny economy of the nation itself.
A progressive economist challenges popular conservative-minded economic practices, in a scathing critique of Reagan-Bush policies that contends that the political right is misrepresenting the consequences of free-market and free-trade ideals. 50,000 first printing.
Galbraith makes a major contribution to the formation of future U.S. economic policy by linking technology, foreign trade, and the macromanagement of the economy. He argues that the U.S. should take up the mantle of the global leadership role thrust on it and seek to be an agent for progressive change. Galbraith not only defines the problems facing the U.S. economy, but suggests a politically viable way out of the dilemma. He suggests that the key to a noninflationary industrial policy, involves a balancing act whereby the timing of bargaining and pay system is coordinated so as to minimize inflationary expectations. He suggests that world development must rest on retirement of Third World debt; that labor shifts to high-tech industries will result in temporary unemployment that must be cushioned; and that taxes must be increased to meet the deficit. ISBN 0-465-00584-5: $19.95.
Originally published in 1972, this book aimed to provide the student with a basic understanding of the main theories of social stratification and to acquaint them with current methods of research, with the results from modern research (with emphasis on British research), and with current issues in this field. The first two chapters are concerned with theory and are followed by chapters on slavery and the caste system. These are intended to illustrate concepts and theory and to offer the student a comparative perspective in which to view stratification in modern society – which is dealt with in a final lengthy chapter. The book has been written primarily for first-year university students, but also with sixth-formers and students in colleges of further education in mind.
Quality and Power in the Supply Chain reconciles two divergent worlds for the beleaguered quality manager. The first is that of quality and managerial fads, promoted by quality professionals and the quality 'industry' - with its seminars, certification programs and the pressures of an ever increasing number of international standards, state and national legislation and powerful corporations. The second is a virtual antithesis to this world of mission statements, quality policies, procedures and statistical techniques, and is embodied in the international phenomenon that is the Dilbert (TM) cartoon strip. Across America and Europe millions of ordinary employees revel in the truths that are exposed concerning corporate absurdities and a blind reliance upon acronym-laden quick-fixes. Here you will find the gap bridged between the vast literature of quality fads (including the recent tranche of international standards) and that more humorous portrayal of these worlds. The origins of today's quality ideology and industry is traced, followed by a description of how the quality profession popularizes, promotes and ultimately benefits from the fads that come and go. Finally it is shown that despite the propaganda of the profession, there is a separate reality to "quality" and that management principles in this field can only ever be a small limiting factor in corporate success. - Addresses a vital aspect of Supply-chain Management, one of todays hottest management topics - From a widely and internationally published quality author and professional - The "Emperors Clothes" for the Quality profession
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