Great American Deception: What Politicians Won't Tell You About Our Economy and Your Future [Hardcover]

Ravi Batra (Author)

Book Description

Publication Date: September 1996

This text examines popular economic ideas, espoused by people such as Newt Gingrich, Dick Armery, Jack Kemp, Steve Forbes, Bob Dole, and Bill Clinton. Caught up in election year rhetoric, this group offered the American public a wide range of ideas meant to address the economic concerns of the day. This work tackles their ideas one by one, arguing that they claim no historical backing, and are often based on flimsy logic, and instead of solving the US's economic problems, are making them worse. From the failed notion of trickle-down economics to the consequences of the US's shift from a manufacturing to service community, the book unravels the mysteries and failed logic behind today's economic ideas and probes the reason why a majority of Americans still feel the pinch of making ends meet - even in light of the most promising economic numbers in decades. It then makes a case for a plan that stimulates the economy by restricting imports and increasing tariffs.

Editorial Reviews

From the Publisher

Batra takes on the latest economic ideas of Bill Clinton, Newt Gingrich, Bob Dole, Dick Armey, Jack Kemp, Steve Forbes and others. Caught up in the fever of election year rhetoric, this group offers the American public a wide range of ideas meant to address the economic concerns of the day. Batra tackles their ideas one by one, arguing that they claim no historical backing are often based on flimsy logic, and not only won't solve the problem but might make it worse. He charts the drastic effects of NAFTA on wage decline and job loss, shows how imposing higher taxes on the wealthy will stimulate not stifle the economy and reveals why the flat tax will not work.

Product Details

• Hardcover: 278 pages
• Publisher: John Wiley & Sons Inc; 1St Edition edition (September 1996)
• Language: English
• ISBN-10: 0471165565
• ISBN-13: 978-0471165569
• Product Dimensions: 9 x 5.9 x 1.1 inches
• Shipping Weight: 1.3 pounds
• Average Customer Review: 5.0 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #765,955 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

15 of 16 people found the following review helpful:

5.0 out of 5 stars Incisive analysis of what ails America, November 12, 1997

By A Customer

This review is from: Great American Deception: What Politicians Won't Tell You About Our Economy and Your Future (Hardcover)

Dr. Ravi Batra has, since the late 1970s, been offering some of the most thought provoking analysis of economic developments in the US and the world at large. In 1984, he suggested that increasing concentration of wealth was behind the speculative bubble in asset markets (The Great Depression of 1990). In 1990, the Federal Reserve proved successful in infusing the economy with money (and low interest rates), thereby saving the banking system from collapse, while ensuring a repeat run-up in stock prices. While this action by the Fed helped stave off Batra's prediction of an economic collapse -- he may very well still turn out to be right -- just witness the unfolding crisis in Asian stock and currency markets. In the 1990s, he has also warned about the effect that free trade in goods (and a free flow of investment) are having on manufacturing employment as laid-off manufacturing workers are re-employed in the services sector at, typically, a much lower wage, thus explaining the drop in real household incomes of American families since the early 1970s (The Myth of Free Trade). In The Great American Deception he warns us about the unfair shift of the tax burden from corporations to individuals in recent decades and its likely effect on the economy. One could say that he confirms Oswald Spengler's insight that when big money calls the shots the sole purpose of commercial laws and regulations is to accommodate the desire of the large moneyed interests to accumulate more wealth, no matter its effect on society at large. Dr. Batra is a great thinker with vision and the courage to state necessary truths, no matter how controversial. Indeed, if it weren't for thinkers like him we would be at the mercy of CNN and Business Week to understand what's really going on in the world. This is a book that shines the light on complex problems, but with simplicity of exposition and plenty of factual substantiation. A must read for concerned citizens.

11 of 12 people found the following review helpful:

5.0 out of 5 stars this may be batra's best book -- and they're all good!, February 25, 1999

By A Customer

This review is from: Great American Deception: What Politicians Won't Tell You About Our Economy and Your Future (Hardcover)

Batra explains why free trade and regressive taxation have not led us to the nirvana of universal prosperity promised by establishment democrat and republican politicos. He presents an overwhelming mass of evidence to bolster his conclusions. Dr. Batra is a brilliant and incisive thinker who really is concerned with the welfare of the little person. To read this man is to know that the elites in the media, financial, and political spheres are lying, self-serving tyrants. Read this book -- and learn the reality of modern American economic history, a reality that is intentionally obscured from our view by the powers-that-be.

9 of 10 people found the following review helpful:

5.0 out of 5 stars The Little Man's Economist, February 16, 1999

By A Customer

This review is from: Great American Deception: What Politicians Won't Tell You About Our Economy and Your Future (Hardcover)

The author tackles the big economic thinkers and ideas, one by one. He has done amazing historical research in order to debunk all the popular myths about the economy, myths he feels are perpetrated by economists beholden to rich clients. He takes no prisoners in his attack on regressive taxes and free trade (you know, the money goes out but it doesn't come back). Better than a boxing match.