Written in the era of Ross Perot and Jerry Brown and focused on the Savings and Loan scandal that cost taxpayers at least $200 Billion dollars, this insightful book identifies many factors behind the growing power of transnational corporations to set the national agenda. Villains include an expanding executive branch, the collusion of both major parties with Wall Street interests, the increasing use of technical jargon in the halls of power, and a press that seems more focused on selling celebrities than examining policies.
Greider's prophetic book, written in 1992, anticipates how NAFTA, GATT, and the most favored trade status with China all passed - could be pushed through by a Democratic president (Clinton) and a Republican Congress in a bipartisan effort. Polls, by the way, showed the vast majority of Americans oppossed to all three pieces of legislation. A populist political critic, Greider suspects what is good for Wall Street might not be good for Main Street. (Of course, many people living on Main Street owe some stock too.)
I first read this book in 1992, and wondered if Greider was exaggerating to make more compelling copy. Re-reading parts today and knowing the disaster caused by NAFTA, Greider emerges as one of the few political analysts aware of the signifance of trade to Wall Street and the negative influence on corporate money on both parties.
"We're perilously close to not having a democracy," warms Greider, noting that while many elements are involved in disenfranchising the American public, none are buried secrets and all are familiar features. Campaign finance reform, of course, remains the preferred euphemism for legalized bribery used to win Congressional votes and manipulate regulatory decisions. Incumbents like the system (shock, shock) and reformers seem to lose in primaries (McCain, Bradley.) Greider makes a few commonsense suggestions: more press coverage of how government actually works, campaign finance reform, and elections on the weekends.
Unfortunately, this witty tirade, written with outrage and fury, seems more relevant today than ever. Both moderate Republicans and conservative Democrats support unrestricted trade leaving true outsiders like Nader and Buchanan to articulate the fair trade argument. Greider suggests that the possibilities for renewing American democracy are dwindling -despite technological advances that could revitalize citizen activism.
A fascinating, sobering book for the 2000 election season.
