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Excellent. Even More Relevant in 2004
on October 6, 2004
I've read just about everything there is to read in main stream economics. Although I've poured over the works of Hayek, Keynes, Marx, Smith, Ricardo, etc... this book touched me like no other.
The plain language of the mechanics of the devaluation of labor was sobering. Althought written in 1997, its message is even more relevant today. People working harder for less, buying into the free market myth, but living the reality.
The fact is capital moves much faster than most people can adapt. Forcing people to periodically start over again as jobs are lost. Such negative competition is assisting the small minority of anonymous large investors, but in the process also hollowing out the middle class. Forcing people to work several jobs, or incur debt simply to maintain their economic status. At some point the middle class will reach its limit and its decline will effect both the market and politics.
I highly recommend this book. It's insightful, well written, and thought provoking.