The servant economy
Subtitle: where America's elite is sending the middle class
By: Jeff Faux
Publisher: John Wiley & Sons, Inc.
Published: 2012
Place of publication: Hoboken, NJ
Language: eng
ISBN-13: 9780470182390
Subjects: Economic policy; POLITICAL SCIENCE / Economic Conditions; Economic conditions; Middle class
Description: "Renowned economist Jeff Faux explains why neither party's leaders have a plan to remedy America's unemployment, inequality, or long economic slide. America's political and economic elite spent so long making such terrible decisions that they caused the collapse of 2008. So how can they continue down the same road? The simple answer, that no one in charge wants to publicly acknowledge: because things are still pretty great for the people who run America. It was an accident of history, Jeff Faux explains, that after World War II the U.S. could afford a prosperous middle class, a dominant military, and a booming economic elite at the same time. For the past three decades, all three have been competing, with the middle class always losing. Soon the military will decline as well.  The most plausible projections Faux explores foresee a future economy nearly devoid of production and exports, with the most profitable industries existing to solely to serve the wealthiest 1%.  The author's last book, The Global Class War, sold over 20,000 copies by correctly predicting the permanent decline of our debt-burdened middle class at the hands of our off-shoring executives, out of control financiers, and their friends in Washington  Since his last book, Faux is repeatedly asked what either party will do to face these mounting crises. After looking over actual policies, proposed plans, non-partisan reports, and think tank papers, his astonishing conclusion: more of the same"--

"This book will describe, the dismantling of the New Deal profoundly affected the way in which the private corporate sector treated the future as well. Deregulation dramatically shortened the time horizons of American business. Time is money. Banks and investment houses were once again free to use the nation's capital to chase short-term speculative profits. The idea that had been emerging after World War II that corporations were social institutions -- responsible to their employees, suppliers, surrounding communities and other stakeholders -- faded"--
Notes: Includes bibliographical references and index.