***** "... Who Stole the American Dream? provides a readable and comprehensive account of how Americans have been robbed of our dream of a broad middle class over the past forty years. It is essential reading."--Jay Lorsch, Harvard Business School *
"What would an economy built on principles of fairness and sustainability look like? How do we model it; where is it emerging; how do we collectively plan its strategies to fully implement it? These are the pressing questions of our time." Pulitzer Prize winner Hedrick Smith compelling work of political history and economic analysis is inspiring by unanticipated discoveries, and illuminating insights, inked with the empathy of a great research reporter. Smith offers ideas for reclaiming the American Dream by restoring the great American promise.
This is a systematic recount of socio-economic revelations; how the New Economy disrupted America's enterprise engine of shared prosperity, with a vicious circle that unveiled its ugly face in the collapse of Lehman Brothers, and the chain reaction which followed. We are at a turning period in America's history. Global economy has failed in its promise to produce and deliver basic goods in an efficient manner for an expanding population, with increasing number of hopeless poverty. Inequities between rich and poor, North and South, grow ever deeper.
Smith documents the transfer of six trillion dollars in middle-class wealth from homeowners to banks even before the housing boom went bust, and how the U.S. policy bowed favoring the rich, is stunting America's economic growth, and practices that once pushed and incited the American way of life. Smith narrates the distressing story of how the so-called New Economy destroyed the many tenets. Reading the vanishing dream left me with profound disappointment and a scream of anger!
In his earlier best selling books, Pulitzer Prize winner Hedrick Smith's took millions of readers in virtual tours inside the Soviet Union, and Washington's corridors of power. Now the gifted author takes us across demographic America to articulate the development of a sequence of landmark politico-economic legislation, that have transformed the American landscape of power. Smith new book is an extraordinary document with a stunning account of how, over the past four decades, the 'American Dream' was aborted, letting the union to became two Americas.
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