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Economic inequality is at a record high in the United States, but public demand for redistribution is not rising with it. Meghan Condon and Amber Wichowsky show that this paradox and other mysteries about class and US politics can be solved through a focus on social comparison. Powerful currents compete to propel attention up or down—toward the rich or the poor—pulling politics along in the wake. Through an astute blend of experiments, surveys, and descriptions people offer in their own words, The Economic Other reveals that when less-advantaged Americans compare with the rich, they become more accurate about their own status and want more from government. But American society is structured to prevent upward comparison. In an increasingly divided, anxious nation, opportunities to interact with the country’s richest are shrinking, and people prefer to compare to those below to feel secure. Even when comparison with the rich does occur, many lose confidence in their power to effect change. Laying bare how social comparisons drive political attitudes, The Economic Other is an essential look at the stubborn plight of inequality and the measures needed to solve it.
A Foreign Affairs Best Book of 2016 Today, nations increasingly carry out geopolitical combat through economic means. Policies governing everything from trade and investment to energy and exchange rates are wielded as tools to win diplomatic allies, punish adversaries, and coerce those in between. Not so in the United States, however. America still too often reaches for the gun over the purse to advance its interests abroad. The result is a playing field sharply tilting against the United States. “Geoeconomics, the use of economic instruments to advance foreign policy goals, has long been a staple of great-power politics. In this impressive policy manifesto, Blackwill and Harris argue that in recent decades, the United States has tended to neglect this form of statecraft, while China, Russia, and other illiberal states have increasingly employed it to Washington’s disadvantage.” —G. John Ikenberry, Foreign Affairs “A readable and lucid primer...The book defines the extensive topic and opens readers’ eyes to its prevalence throughout history...[Presidential] candidates who care more about protecting American interests would be wise to heed the advice of War by Other Means and take our geoeconomic toolkit more seriously. —Jordan Schneider, Weekly Standard
Perkins, a former chief economist at a Boston strategic-consulting firm, confesses he was an "economic hit man" for 10 years, helping U.S. intelligence agencies and multinationals cajole and blackmail foreign leaders into serving U.S. foreign policy and awarding lucrative contracts to American business.
Why policymaking in the United States privileges the rich over the poor Can a country be a democracy if its government only responds to the preferences of the rich? In an ideal democracy, all citizens should have equal influence on government policy—but as this book demonstrates, America's policymakers respond almost exclusively to the preferences of the economically advantaged. Affluence and Influence definitively explores how political inequality in the United States has evolved over the last several decades and how this growing disparity has been shaped by interest groups, parties, and elections. With sharp analysis and an impressive range of data, Martin Gilens looks at thousands of proposed policy changes, and the degree of support for each among poor, middle-class, and affluent Americans. His findings are staggering: when preferences of low- or middle-income Americans diverge from those of the affluent, there is virtually no relationship between policy outcomes and the desires of less advantaged groups. In contrast, affluent Americans' preferences exhibit a substantial relationship with policy outcomes whether their preferences are shared by lower-income groups or not. Gilens shows that representational inequality is spread widely across different policy domains and time periods. Yet Gilens also shows that under specific circumstances the preferences of the middle class and, to a lesser extent, the poor, do seem to matter. In particular, impending elections—especially presidential elections—and an even partisan division in Congress mitigate representational inequality and boost responsiveness to the preferences of the broader public. At a time when economic and political inequality in the United States only continues to rise, Affluence and Influence raises important questions about whether American democracy is truly responding to the needs of all its citizens.
Shortly before his assassination, Martin Luther King Jr. called for a radical redistribution of economic and political power to transform the whole of society. In 1967, he envisioned and designed the Poor People’s Campaign, an interracial effort that was carried out after his death. This campaign brought together impoverished Americans of all races to demand better wages, better jobs, better homes, and better education. King and the Other America explores this overlooked and obscured episode of the late civil rights movement, deepening our understanding of King’s commitment to social justice and also of the long-term trajectory of the civil rights movement. Digging into earlier radical arguments about economic inequality across America, which King drew on throughout his entire political and religious life, Sylvie Laurent argues that the Poor People’s Campaign was the logical culmination of King’s influences and ideas, which have had lasting impact on young activists and the public. Fifty years later, growing inequality and grinding poverty in the United States have spurred new efforts to rejuvenate the campaign. This book draws the connections between King's perceptive thoughts on substantive justice and the ongoing quest for equality for all.
Fialka's incisive reporting and trenchant analysis expose an attack on the American economy so deadly as to constitute a time-lapse Pear Harbor, as he outlines the hard choices that must be made to ensure survival.
Focuses on intergenerational mobility, and intergenerational transmission of inequality.
Reflections on politics, the economy, and the modern world by the #1 New York Times–bestselling author of Capital in the Twenty-First Century. Thomas Piketty’s work has proved that unfettered markets lead to increasing inequality, and that without meaningful regulation, capitalist economies will concentrate wealth in an ever smaller number of hands, threatening democracy. For years, his newspaper columns have pierced the surface of current events to reveal the economic forces underneath. Why Save the Bankers? collects these columns from the period between the September 2008 collapse of Lehman Brothers and the November 2015 terrorist attacks in Paris. In crystalline prose, Piketty examines a wide range of topics, and along the way he decodes the European Union’s economic troubles, weighs in on oligarchy in the United States, wonders whether debts actually need to be paid back, and discovers surprising lessons about inequality by examining the career of Steve Jobs. Coursing with insight and flashes of wit, these brief essays offer a view of recent history through the eyes of one of the most influential economic thinkers of our time. “Easy to follow for readers without much knowledge of economics, especially when [Piketty] picks apart topics that defy classical economic logic; in this he resembles Paul Krugman, who similarly writes clearly on complex topics . . . Helps make sense of recent financial history.” —Kirkus Reviews “Anyone with an interest in politics, monetary policy, or international diplomacy will get a kick out of Piketty’s clear discussion.” —Shelf Awareness “If you have been influenced by Piketty’s landmark work on inequality, make sure to read this next.” —Naomi Klein, author of The Shock Doctrine and This Changes Everything
“These essays . . . bring great learning and . . . intelligence to bear upon economic and social issues of central importance to our era.” —Henry Hazlitt, Newsweek In this collection of writings, Nobel laureate Friedrich A. Hayek discusses topics from moral philosophy and the methods of the social sciences to economic theory as different aspects of the same central issue: free markets versus socialist planned economies. First published in the 1930s and 40s, these essays continue to illuminate the problems faced by developing and formerly socialist countries. F. A. Hayek, recipient of the Medal of Freedom in 1991 and winner of the Nobel Memorial Prize in Economics in 1974, taught at the University of Chicago, the University of London, and the University of Freiburg. Among his other works published by the University of Chicago Press is The Road to Serfdom, now available in a special fiftieth anniversary edition. “There is much interesting and valuable material in this meaty . . . book which must ultimately help the world make up its mind on a vital issue: to plan or not to plan?” —S. E. Harris, The New York Times “Those who disagree with him cannot afford to ignore him . . . This is especially true of a book like the present one.” —George Soule, Nation
This lively and provocative look at the tension between economics and politics examines why so many mistakes in economic policy-making are made for political reasons and ignore the economic truths. Using short-term economic gains to ensure electoral success, argues Lorenzo Forni, inevitably spells macroeconomic disaster. Using the state budget, trade policy and monetary policy to prop up labour markets and the wider economy in order to boost voter approval ratings, while ignoring budget constraints can only result in longer recessions and economic downturns. Which then can incur the painful austerity measures needed to bring the economy back into balance. Forni looks at many unsustainable economic policies that have been implemented in parts of the world when the economic realities - there is no magic money tree! - would recommend a different and more prudent economic course.