From Publishers Weekly
As Keynesianism has been surpassed by a resurgent free market ideology, many of the policies, institutions and regulations of the New Deal have been abandoned in favor of a more business-friendly orientation. Kuttner argues that these changes have further enriched the already wealthy at the expense of America's lower and middle classes, exacerbating inequality and systematically weakening the economy. The controversial American Prospect
editor favors a form of soft capitalism, in which the vicissitudes of the market and the risk to which it exposes ordinary Americans are tempered by government intervention—or, as he colorfully puts it, public regulation of the market's self-cannibalizing tendencies. Bringing a wealth of historical knowledge to bear on the problems of financial regulation, Kuttner compares the causes of the Great Depression and other economic crises to behavior patterns evident in our market system today, with unfavorable conclusions. However, much of the argumentation may be too technical to hold the interest of a nonspecialist for very long. While some of Kuttner's statistics are dubious and some of his policy recommendations have been thoroughly and universally discredited (e.g., reregulation of the airline industry, bringing the Federal Reserve under presidential control), his book is a useful corrective to more extreme libertarian works. (Nov.)
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“A passionate broadside for restoring widespread prosperity to the middle class and reviving a dispirited democracy.”—BusinessWeek "
With seven years' distance from the Clinton era, [Kuttner's] arguments now look emphatically right." —The New York Times Book Review
“Robert Kuttner is a prophet whose time has come. This lucid, passionate, razor-sharp book carries a message as urgent as it is clarifying.”—Hendrik Hertzberg “Robert Kuttner has diagnosed the sickness in our body politic.”—The Boston Globe