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Obamanomics: How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics 1st Edition

3.4 out of 5 stars 23 customer reviews
ISBN-13: 978-1583228654
ISBN-10: 1583228659
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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.

About the Author

A former investment banker for Goldman Sachs and Visiting Scholar at UCLA’s Anderson School of Management, JOHN R. TALBOTT is the author of several books on economics and politics, including the prophetic The Coming Crash in the Housing Market, penned in 2003. Talbott has written for the Wall Street Journal, the Financial Times, and the Boston Globe, and has appeared as a commentator on CNN, Fox, CNBC, and CBS.


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Product Details

  • Paperback: 224 pages
  • Publisher: Seven Stories Press; 1 edition (July 1, 2008)
  • Language: English
  • ISBN-10: 1583228659
  • ISBN-13: 978-1583228654
  • Product Dimensions: 5.5 x 0.6 x 8.2 inches
  • Shipping Weight: 8.5 ounces (View shipping rates and policies)
  • Average Customer Review: 3.4 out of 5 stars  See all reviews (23 customer reviews)
  • Amazon Best Sellers Rank: #2,078,515 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback
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.
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Format: Paperback
I cannot believe that this horrid excuse for a book was ever published. I only got 1/2 way through before I literally threw it in the garbage. Not only due to the shoddy writing style...but for god sakes, look at the end notes that he incessantly refers to. After the first mention of statistics I thought something seemed a little fishy. This buffoon of a writer actually (and repeatedly) cites his own previous publications, disreputable sources...and Wikipedia. You would be far better off having a discussion on the subject with your waitress at Denny's.
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Format: Paperback
Ignoring the gap between rhetoric and performance, this reads like Talbott listens to what Obama says, while seeming blind to what he does. The book is based on campaign rhetoric rather than performance. The book starts wrong at the very first paragraph of the preface where it is claimed that Obama does not assign blame for current problems. Nearly three years into his administration Obama still prefaces most speeches with the statement that he inherited his problems. He well supports the Democratic party technique of covering its mistakes with the philosophy that one bad administration deserves another. Talbott gets the economics wrong in blaming the Bush tax cuts for the inherited debt. There is little mention of the effects of NAFTA. Talbott ignores the economics of war, where Obama policy follows Bush to the letter in spite of campaign promises. There is unsubstantiated denigration of supply-siders who concentrate on expanding production rather than over promising on the distribution side. Failure of stimulus programs was perhaps not clear when the book was written in 2008. Talbott hopes that Obama has foresight. The book was too early to see the monstrosity called 'Obamacare' or the subsequent economic failure. I wonder what Talbott thinks now.

Covering specifically the following topics from the outline:

1.Economic Justice
2.Economic Opportunity
3.The Current Financial crisis
4.The Biggest Problem: Corporate Lobbying
5.Globalization and Jobs
6.Global Warming and Energy Policy
7.Affordable Healthcare
8.Aging of the Population
9.Cooperation is the Key
10.Ethics and Economics

1. Talbott (and Obama) make a fundamental ideological error of equating equality with equity.
Earmarks have been extended not reduced.
Read more ›
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Format: Paperback
I read this book with an open mind and a longing for the insights to Obama and while Talbott's writing was clear, it was a bit naive. His insistence on economic justice as the fix to our financial issues is nothing more than redistribution of wealth. His disdain for Americans who want a 12000 square foot house and a Hummer reveals a deep bias. Of course no one needs that much space, but in this country we value liberty and freedom to choose. It's not the governments place to decide what we need and/or want.
One of Obamas campaign promises is to raise taxes on the wealthy, those making over $250K a year. Talbott says the current system 'gives money to top earners", when in fact the system allows top earners to keep more of the money they have earned. I think this basic difference in economic viewpoint is what irked me the most, being one of those 'lucky' few that Obama considers rich. He seems to know that the 'rich will not reinvest their extra money, they will put in a savings account. This is how it works. I have two kids in private college. They couldn't get into the UC system for their majors because they were impacted. I pay 40K a year, per student. I am too rich to qualify for any aid. So any and all extra money we get to keep is going to private colleges.
Most people considered wealthy work just as hard as those who make less money, so it's very difficult to not see Obama's policies as nothing more than socialism wrapped in a pretty package and topped with a pinch of guilt.
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Format: Paperback Verified Purchase
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.
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