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Rebound: Why America Will Emerge Stronger From the Financial Crisis Hardcover – April 13, 2010

2.5 out of 5 stars 2 customer reviews

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Editorial Reviews


Praise for Rebound:

"Steve Rose, a liberal economist, argues in his new book, Rebound, that much of what liberals tend to believe about the US economy (good jobs are disappearing, the middle class is declining etc.) is either wrong or vastly exaggerated.  His provocative and carefully documented analysis of US economic performance is guaranteed to make you think.  I recommend it for just that reason.

--Ruy Teixeira, co-author, The Emerging Democratic Majority

“I always appreciate clear and cogent arguments. While I find many of Rose's positions too sanguine, his arguments and analyses are well reasoned and important to the crucial debate over where we've been and where we're going.”---Robert Reich, former Secretary of Labor

"Like a great landscape artist, Stephen Rose paints for us a vivid picture of the U.S economy.  Rebound explains the flaws that have led to the current economic catastrophe and gives a prescription for fixing them.  It also focuses on the underlying riches of our economy, and especially our institutions, education, and middle class values.  These are the reasons why the U .S .economy is so rich, and why the Rebound, when it happens, should be robust.”

--George Akerlof, 2001 Nobel Laureate in Economics

Praise for Stephen J. Rose’s Social Stratification in the United States:

“Ingenious design. . . . A bleak, statistically meticulous, and even-tempered presentation of trends that ought to alarm anyone. --The New York Times Book Review

Transforms the percentages and media figures you frequently hear into a form you can see and drawings you can grasp. --New York Daily News

“Sort of a Demographics 101 and Sociology 101 presented on a single large sheet of paper.”--San Francisco Examiner

“There is a crippling lack of information . . . with regard to some of the basic facts of the American socioeconomic system. This attractive poster goes a long way toward remedying that deficiency.”--Robert Heilbroner, author of The Worldly Philosophers

About the Author

Stephen J. Rose, Ph.D, is a nationally recognized labor economist and former senior advisor to Secretary of Labor Robert Reich. He was educated at Princeton University and City University of New York. He has conducted research for the Department of Education, Educational Testing Service, and Pew Research Center, among others. 


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Product Details

  • Hardcover: 288 pages
  • Publisher: St. Martin's Press (April 13, 2010)
  • Language: English
  • ISBN-10: 0312575424
  • ISBN-13: 978-0312575427
  • Product Dimensions: 6.4 x 1.1 x 9.5 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 2.5 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #3,208,337 in Books (See Top 100 in Books)

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Stephen J. Rose, a think-tank economist who worked in the Clinton administration, has drawn ire on the left because he challenges key articles of economic faith: that the American middle class has remained static for three decades; that Americans are "drowning in debt"; that they shoulder far more risk than they did a generation ago. His new book, Rebound: Why America Will Emerge Stronger from the Financial Crisis, consolidates and develops these theses, which boil down to John McCain's ill-timed campaign mantra: the fundamentals of our economy our strong.

In Rose's view, financial industry recklessness threw sand in the gears (his cliche) of a rip-roaring economic machine. His prognosis for the U.S. economy in the wake of the financial crisis was well summed-up by a David Brooks column largely based on his findings: Relax, We'll be Fine. (That is, if we enact effective financial reform, as Rose simply assumes we will.)

Rose is in his element in the book's middle chapters, in which he parses Census, Current Population Survey and other data on Americans' incomes and wealth to debunk what he defines as five myths: that all income gains in the last thirty years have gone to the rich; that the middle class is declining; that good jobs have been disappearing; that international trade is to blame; and that employee benefits are disappearing.

Some of these myths he dispatches more thoroughly than others; his argument with liberal economists such as Jacob Hacker and Elizabeth Warren is often aptly characterized as a glass half empty/half full dispute because at times he emphasizes different aspects of a data set that is not in dispute.
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Format: Hardcover
I read this book bc i am searching for new ideas on how the global finanical crisis will play out in the years ahead. If that is what you are looking for, look elsewhere. The heart of this book discusses income equality/inequality and either does very little in a convincing manner to address the years ahead or just flat out does not understand the crisis at all. The book wastes a bunch of time providing an extremely limited view of the current crisis and several that have ocurred before. Frankly, this book seems to be written from a sort of an academic point of view and really fails to provide a solid explanation of what happened in the crisis and what it will take for America to remerge and take its rightful place at the helm of economic leadership. I found this book to be extremely basic and basically a waste of time. I am neither a democrat or a republican, but having many friends that are diehards on either side of the aisle, this book seemed to be a very, very, very basic education of economics 101 or maybe high school economics that a democrat is using to explain some very rudimentary issues to other democrats. It seems as though once you become either democrat or republican your brain has to be turned off so that all you can argue is the party line. I give the author some credit for having his brain on and not being locked into tunnel vision as so many others are. If you are a democrat reading this, do not get riled up as i have about as much disdain for the imbecile republicans which are now calling for the abolishment of the Fed right in the heart of the largest financial crisis the world has ever seen. I emphasize the heart of the crisis bc the govt is trying to pull off a high wire act that is far from over.Read more ›
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