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The Audacity of Greed: Free Markets, Corporate Thieves, and the Looting of America Paperback – September 1, 2009
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The reasons for this are varied though as Tasini points out, the American people have been subjected to a decades long, never ending barrage of propaganda from a variety of sources that have seduced many into the delusion that the system works to the benefit of us all. Closely related to this was the was the conscious efforts of Milton Friedman and his Chicago School to rollback the dominance of the Keynesian, regulated, mixed economy philosophy in the Capitalist "free world" during the post-World War II period and to replace it with what Tasini terms: "Free Market Fundamentalism" or the exaggerated faith that when markets are left to operate on their own they can solve all economic and social problems.Read more ›
economy in recent decades, by describing how the bogus faith in "free" markets
enabled the CEO's of America's largest corporations to expand their wealth while their actions hurt ordinary working people. Tasini has done his research, and the information he shares is disturbing, but it's information we need if we are going to remedy what's wrong with our economic system. Buy 4 copies of the book- one for yourself and one for each of your Senators and your Representative in Congress.
Mr. Tasini explains that NAFTA worked the way it was planned if one understands that it was crafted for corporations and not workers.
He also feels that education is a "phony solution" to depressed wages. Stagnated wages are a crucial part of the crisis.
Along those lines he suggests that we need to re-value the work of the working class in our country over CEOs.
In the chapter "Stock Options Scam" he details how CEOs game the system even when they ruin the company.
Mr. Tasini provides some brief sketches of a rogue's gallery of players in the crisis.
He also exposes the myth that employees' benefits caused hardships for companies like GM when in fact, it was executive's compensation that was more responsible.
In a lot of cases employee benefit costs are set aside where executive compensation is not.
Another part of the problem is cronyism between CEOs and corporate boards who often have close, parasitic relationships.
On page 90 he highlights the fact that "In our era of audacious greed, the better things get for the corporate elite, the worse they get for the American worker."
And on page 92 he continues- "In the end, the rhetoric of the 'free market' allowed a small elite to rob the treasuries of companies to pad their own already lavish retirements."
This is paralleled by a decline in pension plans for workers.
This book frequently quotes statistics from the Center for Responsible Politics. Those are some sobering numbers in many respects!
Jonathan Tasini concludes the book with seven sensible proposals to "return to sanity".
This book is a "must read" for all populist readers in particular.
In bankruptcy after bankruptcy, the upper management of such corporations retired with luxurious rewards amounting to hundreds of millions of dollars, while shareholders lost their investments, and the ordinary workers were turned loose, sometimes with their pension plans destroyed, seldom with severance pay, often with the loss of any health coverage they may have had.
The documentation is thorough and extensive, drawing its evidence from company documents, government sources, financial media and a host of other publications. The conclusions are damning. This is a current book that is well worth reading. The only unfortunate part is that it doesn't include an index. That would have made it a quick and excellent reference source for pointing to those who have profited and continue to profit from the current economic debacle that is causing so much suffering for the rest of us.
Most Recent Customer Reviews
Most insight book of the Wall Street debacle I have read. Everyone should read this book.Published on December 19, 2009 by Sarah M. Newell
This book is really important because it explains HOW the overpaid executives are gouging their companies, their employees and the rest of us for their own gain. Read morePublished on December 10, 2009 by emberAZ
Karl, the original Marx brother, once claimed that all history repeats itself first as tragedy then as farce. He obviously inspired Jonathan Tasini in more ways than one. Read morePublished on September 30, 2009 by Mark Twain