The Confiscation of American Prosperity

The Confiscation of American Prosperity


SKU: 9780230600461
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This book argues that the right-wing revolution in the United States has created deepening inequality and will lead to economic catastrophe. The author makes the case that over the past three decades the rich have confiscated wealth and income from the poor and middle class to a far greater extent than many realize, and he explores in detail important but commonly unmeasured dimensions of inequality. He also takes aim at the economics profession, criticising the analytical blinders that leave economists incapable of seeing the coming crisis.
Dr. Michael Perelman is Professor of Economics, California State University at Chico. He is the author of several previous books including Class Warfare in the Information Age, The Natural Instability of Markets, The Pathology of the U.S. Economy, and Steal This Idea.

“Can a recent history of the U.S. economy read a bit like a crime story? Yes, in the hands of Michael Perelman” – Seth Sandronsky, Sacramento News & Review
The Confiscation of American Prosperity is a highly readable work that offers equal servings of serious economics and controlled anger. Michael Perelman is outraged by 30 years of deepening disparities in the U.S. economy, and by the fact most economists either ignore the reality before them or worse, provide academic firepower on behalf of a more unequal and unstable society. Read Perelman, and prepare to be challenged, both intellectually and morally.”
–Robert Pollin, Professor of Economics and Co-Director of the Political Economy Research Institute (PERI), University of Massachusetts-Amherst
“This book gives an original perspective on the changes in the country over the last three decades. It documents how the wealthy have managed to structure the economy so that they could monopolize the gains from growth over this period. It shows how the resulting growth in inequality is undermining economic stability and productivity growth, creating an economy and society that will not be sustainable in the long-run.”
–Dean Baker, Co-Director, Center for Economic and Policy Research