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Excerpt from Plutocracy's Statistics: Statistical Lies and Liars; Official and Unofficial An honest cause needs never a lying defense, but finds in the truth its strongest support. There therefore can be no more conclusive evidence of the wickedness of any cause than the fact that its promoters deliberately and systematically resort to misrepresentation. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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A Financial Times Best Book of the Year Shortlisted for the Lionel Gelber Prize There has always been some gap between rich and poor in this country, but recently what it means to be rich has changed dramatically. Forget the 1 percent—Plutocrats proves that it is the wealthiest 0.1 percent who are outpacing the rest of us at breakneck speed. Most of these new fortunes are not inherited, amassed instead by perceptive businesspeople who see themselves as deserving victors in a cutthroat international competition. With empathy and intelligence, Plutocrats reveals the consequences of concentrating the world’s wealth into fewer and fewer hands. Propelled by fascinating original interviews with the plutocrats themselves, Plutocrats is a tour de force of social and economic history, the definitive examination of inequality in our time.
A hard-hitting analysis of how the disparity between wealth and poverty undermines the common good. The growing gap between the most affluent Americans and the rest of society is changing the country into one defined—more than almost any other developed nation—by exceptional inequality of income, wealth, and opportunity. This book reveals that an infrastructure of inequality, both open and hidden, obstructs the great majority in pursuing happiness, living healthy lives, and exercising basic rights. A government dominated by finance, corporate interests, and the wealthy has undermined democracy, stunted social mobility, and changed the character of the nation. In this tough-minded dissection of the gulf between the super-rich and the working and middle classes, Ronald P. Formisano explores how the dramatic rise of income inequality over the past four decades has transformed America from a land of democratic promise into one of diminished opportunity. Since the 1970s, government policies have contributed to the flow of wealth to the top income strata. The United States now is more a plutocracy than a democracy. Formisano surveys the widening circle of inequality’s effects, the exploitation of the poor and the middle class, and the new ways that predators take money out of Americans’ pockets while passive federal and state governments stand by. This data-driven book offers insight into the fallacy of widespread opportunity, the fate of the middle class, and the mechanisms that perpetuate income disparity.
Are you better today than a generation ago? • From 1980 to 2007, the U.S. population increased 25% and inflation grew by 260%.• Median income has been reduced by 2 to 7%, every year! • Bankruptcies have increased 500%.• The average family works an extra 20 hours/wk.• Working families wages have remained flat.• In 1980, there were 139 out of 100,000 Americans in prison, today it's 506.• America's international education rating in education has dropped from #1 to #42.• The number of retirees working has tripled.• College tuition has doubled, while wages have remained flat.• Private philanthropic funds and other tax shelters have increased by 380%.• The number of lobbyists has tripled.• Inheritance taxes for the wealthy have all but disappeared while yours remain.
This study of plutocracy and politics in New York City in the nineteenth and early twentieth centuries poses the following central questions: What have been the consequences of the relatively rapid democratization in America for activities and attitudes of the wealthy classes and what transformations have occurred in the political and social attitudes of the wealthier classes as a result of the increasing lower-class pressures? Gabriel Almond conducted the research for his University of Chicago dissertation in 1935–1936 in New York City. The Great Depression supplied the background events and themes.
This data-driven book offers insight into the fallacy of widespread opportunity, the fate of the middle class, and the mechanisms that perpetuate income disparity.