First published 2010
Political scientists Jacob Hacker and Paul Pierson reject the standard explanations for America's growing wealth gap. They argue that globalization, technology, and education differences are not the real culprits behind runaway inequality. Instead, they point to American politics as the primary driver. The authors trace how the late 1970s marked a turning point when big business and conservative groups successfully dismantled regulations and progressive tax policies that had previously ensured fairer economic distribution. This political transformation accelerated under Reagan and continued through subsequent administrations, including Clinton's presidency, as both parties increasingly served the interests of the wealthy elite. The book examines how deregulation advanced, tax cuts benefited the richest Americans, and business interests decisively overcame labor in Washington. Hacker and Pierson analyze the epic political battles during Obama's early presidency to show that these dynamics persist. Their work demonstrates how America's political system, once responsive to middle class concerns, has been captured by the superrich and offers insights into rebuilding a democracy that serves broader interests.
Genres: business, american, political-science, politics, economics, non-fiction, 21st-century, american-history
Vibes: thought-provoking
Tropes: investigative-journalism
Setting: America, United States
Period: 1970s, 1980s, 1990s, 2000s, 2010s
368 pages · Kindle Edition · Simon Schuster