Obamanomics: How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics (Economics in the Obama Presidency) (Paperback)

by John R. Talbott (Author)
Key Phrases: corporate lobbying, housing crash, current financial crisis, Social Security, United States, Wall Street (more...)

Editorial Reviews

From Publishers Weekly
Starred Review. Author, media commentator and former investment banker Talbott (The Coming Crash in the Housing Market) gives fiscal politics a shot of excitement and, yes, hope as he explores presidential nominee Barack Obama's proposed bag of economic tricks. With reasoned but brutally blunt arguments, topics like corporate lobbying turn improbably fascinating; Talbott explains the system and its problems, and provides simple charts that will make average Americans blanch. Talbott delineates the differences between top-down and bottom-up economics, explaining the latter's advantages and how Obama's proposed policies will take us in the direction of greater economic justice and opportunity for average citizens. Quoting Obama at length, Talbott gives the impression of a man with the wisdom and will to reform many areas: healthcare, social security, housing and labor. Talbott does warn, however, that "if Obama goes after the special interests, he will be taking on almost all of corporate America... and the most powerful political organizations," and that "common sense would dictate that you would have to bet against him"-but only if "you had not heard Obama speak." Even if one disagrees with the solutions, Talbott will illuminate in quick order some vital issues for voters and taxpayers.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Product Description

Barack Obama’s greatest strength has been his ability to bring the country together in a meaningful dialog. For far too long the divisions among races, religions, cultures, and genders have prevented Americans from coming together to solve the most important problems of our generation:

• Environment and energy shortages
• Mortgage and housing crises
• War and terrorism
• Healthcare and Social Security
• Poverty in the world’s richest nation

As the Obama administration takes on the current economic crisis amid accusations of planning a socialist system, economics and political writer John R. Talbott argues that such complex problems found both at home and abroad cannot just be left to the actions of government or the free market business world, or the Bush administration's version of Reagonomics that still sticks to a “trickle-down” policy.

The change that Talbott sees from a Barack Obama presidency is one based on justice and cooperation, principles that have not held sway in Washington, DC for a very long time. Obamanomics, infused with Obama’s speeches, campaign policy statements, and other writings, describes not just a government but a NATION acting according to democratic principles to reform lobbying, banking, and housing as well as restore economic growth, address the healthcare system, improve education, and find solutions to our aging population and declining energy sources.

Once emphasis is placed on citizen involvement, real solutions become apparent to our most pressing problems. The American values of goodness, justice, and fairness is reflected in this man with roots from Kenya, Kansas, Hawaii, and Illinois can once again be incorporated into our economic and financial system.

A former investment banker for Goldman Sachs, John R. Talbott is the author of four books on economics and politics, including The Coming Crash in the Housing Market making him one of the first to predict the current housing and mortgage crisis. He has appeared on CNN, Fox News, CNBC, and CBS Marketwatch and has written for The Wall Street Journal, the Financial Times, and the Boston Globe.

See all Editorial Reviews

Product Details

• Paperback: 256 pages
• Publisher: Seven Stories Press; 1 edition (July 1, 2008)
• Language: English
• ISBN-10: 1583228659
• ISBN-13: 978-1583228654
• Product Dimensions: 8.2 x 5.7 x 1 inches
• Shipping Weight: 12 ounces (View shipping rates and policies)
• Average Customer Review: 3.7 out of 5 stars See all reviews (16 customer reviews)
• Amazon.com Sales Rank: #27,818 in Books (See Bestsellers in Books)

  Popular in these categories: (What's this?)

  #43 in	Books > Business & Investing > Economics > Economic Policy & Development
  #61 in	Books > Business & Investing > Economics > Economic Conditions

Customer Reviews

Most Helpful Customer Reviews

31 of 38 people found the following review helpful:

3.0 out of 5 stars Clear, but disappointing, August 16, 2008

By	CJ (Seattle, WA USA) - See all my reviews

Please don't get thrown off with an impression of a three star rating. This book has its strong points - it has clear and crisp prose, the section on home ownership is great (not surprising given the author's reputation), he avoids getting bogged down in statistics, and he goes to painful lengths explaining a few areas where he disagrees with what Obama presents in his speeches. Unfortunately, as a complete volume, I walked away with the impression that this is a summary of Obama's policy views, with a little bit of the author's opinion sprinkled in. Starting every chapter with an excerpt of an Obama speech is good propaganda, but lacks policy analysis depth. With a title of Obamanomics, I was hoping for a better explanation of why bottom-up economics is better than trickle-down, but instead I bought 200 pages of policy summary, a lot I could have gotten free off a website. Perhaps in this election year, this book will convince some swing voters who want a brief summary of how Obama will possibly be different, but explanations of why he will be different are lacking.

3 of 3 people found the following review helpful:

3.0 out of 5 stars Very interesting, December 14, 2008

By	Bloose - See all my reviews

I found this book very interesting but not quite what I expected. I was expecting a more detailed explanation of exactly why bottom up economics will work much better than trickle down has. With historical data or accepted financial theory to back it up. This is an argument I have been making for years and was hoping this would give me some concrete facts and statistics to support this idea. A lot of the book instead were suggestions by the author of how Obama should run his administration. I agree with much of it, though not all, but am still left with little historic proof of the concept.

I definitely recommend the book because as I said there are some very interesting ideas in it.

29 of 42 people found the following review helpful:

4.0 out of 5 stars A reasoned call for some economic justice., August 24, 2008

By	Preston C. Enright (Denver, CO United States) - See all my reviews (REAL NAME)

"Obamanomics" presents some of the approaches an Obama administration would employ to lower the debt, close the gap between the rich and poor, and lessen the enormous influence corporations have on U.S. and global society in general The Corporation. There is a tendency among supporters of plutocracy to ridicule those who criticize corporations, but it's a critique that's even more necessary now than it was when Teddy Roosevelt was trust-busting, and when Thomas Jefferson was saying, "I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial of strength, and bid defiance to the laws of our country."
Obama does not accept money from lobbyists, which is a stark contrast to John McCain who welcomes lobbyists into his "straight-talk" bus McCain: The Myth of a Maverick.

Talbott points out that an Obama administration would be friendlier toward the working class, which has suffered tremendously under the Bush administration Screwed: The Undeclared War Against the Middle Class - And What We Can Do about It (BK Currents (Paperback)). As people are pressured to work more hours while losing benefits, CEOs and the investor class walk off with wheel barrows full of money. To add insult to injury, a lot of the wealthy's so-called "earnings" come about through taxpayer investment in research and development, tax credits, government purchases, and countless other forms of socialism for the rich Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill).

An Obama administration will face all sorts of obstacles to creating real change. Our plutocracy is deeply entrenched and ruthless The Best Democracy Money Can Buy. Nevertheless, this book shows that there is a movement developing that is bigger than Obama and is doing its own work to advance causes like worker rights A Country That Works: Getting America Back on Track, Fair Trade Fair Trade for All: How Trade Can Promote Development, and sustainability Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value, and Build Competitive Advantage. Even if the right-wing rigs this election (see books like "How to Rig an Election: Confessions of a Republican Operative" and DVDs such as "Hacking Democracy"), concerned people will continue the paradigm shift that is reflected in the Obama phenomenon and in journals like Yes!. Whether it will grow large enough and quickly enough is hard to say, but it's fun to watch its development and to find ways to make our own contributions Getting a Grip: Clarity, Creativity, and Courage in a World Gone Mad.