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The Price of Inequality: How Today's Divided Society Endangers Our Future Kindle Edition
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About the Author
Paul Boehmer is a seasoned actor who has appeared on Broadway, film, and television, including The Thomas Crown Affair and All My Children. Coinciding with another of his passions, sci-fi, Paul has been cast in various roles in many episodes of Star Trek. --This text refers to the mp3_cd edition.
- ASIN : B007MKCQ30
- Publisher : W. W. Norton & Company; Reprint edition (11 June 2012)
- Language : English
- File size : 1265 KB
- Text-to-Speech : Enabled
- Enhanced typesetting : Enabled
- X-Ray : Enabled
- Word Wise : Enabled
- Print length : 449 pages
- Customer Reviews:
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In addition, like most other books, there is very little detail given to possible solutions to the crisis. Its very easy to criticise something for 300 pages, but if you plan on doing so you should at least give some serious effort to the solutions you would present-more than just a small chapter at the end!
Also worth noting that this book was written in 2012, given the 2016 presidential campaign and messaging by both parties since, some of the points are actually inaccurate (like when he mentioned that even the slightest whiff of expanding medicare would be enough to end a Democratic campaign). But if you are interested in that, or are willing to sit through it for what is overall an excellent description of many of the problems behind the last recession and those before it, check this book out
In assessing the rich 1%, he differentiates wealth gained from 'rent-taking' from other forms. This, he argues, is simply money taken out of the economy. That this wealth enriches everyone by a 'trickle-down' process he exposes as a myth. It simply hasn't happened.
CEO's of large companies have increasingly enriched themselves by huge bonuses as 'incentive payments' when any rise in profits is outside of their control. And they have not taken any corresponding hit when the market slumped during the recession. Money from taxation has been handed out in the form of hidden subsidies to large companies in many ways, not least in the bank bailouts, whilst aid to the poor has been cut. And yet, because the poorest in society spend most or all of their money by necessity, boosting the pay of the poorest is the best way of increasing demand in society and helping economic recovery.
Tax cuts for the rich do not increase the total amount of tax received by the government, as is often claimed. The historical record in the US since the Reagan administration show that this simply did not happen.
I will not attempt to precis the contents of the book any further. I think this book is an essential read to understand why the ideological attack on the welfare state makes life so much worse for the majority of people, not just those on benefits.
This is a good book.
As a minor point, I feel that a few aspects of it have moved on (which is understandable since I read it 7-8 years after publication).
Specifically, I think that we have a better/broader understanding of some of the aspects relating to the GFC, but I was happy to skip past these parts and appreciate its strength is inequality.