Hollowed Out: Why the Economy Doesn't Work without a Strong Middle ClassFor the past several decades, politicians and economists thought that high levels of inequality were good for the economy. But because America’s middle class is now so weak, the US economy suffers from the kinds of problems that plague less-developed countries. As Hollowed Out explains, to have strong, sustainable growth, the economy needs to work for everyone and expand from the middle out. This new thinking has the potential to supplant trickle-down economics—the theory that was so wrong about inequality and our economy—and shape economic policymaking for generations. |
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HOLLOWED OUT: Why the Economy Doesn't Work Without a Strong Middle Class
User Review - KirkusThe director of economic policy at the Center for American Progress argues that it is time to mount a political challenge to the economic theories—namely, supply-side, or trickle-down economics—that ... Read full review
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Hollowed Out: Why the Economy Doesn't Work Without a Strong Middle Class David Madland Limited preview - 2015 |
Hollowed Out: Why the Economy Doesn't Work without a Strong Middle Class David Madland Limited preview - 2015 |
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American Progress argue Author’s analysis Bank Barack Obama Bureau of Economic Center for American civic consumption costs countries Crisis Daron Acemoglu David Madland debt decline Democracy econ economic growth economic inequality Economic Policy Institute Economic Research economists Emmanuel Saez entrepreneurs Entrepreneurship estimates example explain Federal Reserve figures Financial Fund Health Heather Boushey high levels higher education Household housing prices human capital impact Income Inequality increased infrastructure Institute investments Jobs Joseph Stiglitz Journal of Economic Labor lawyers levels of inequality lobbying measures Mobility National Bureau nomic Note OECD Paper Paul Krugman percentage Policy poor Princeton rates recent decades Recession rent seeking rich rising Robert schools security guards share Social Capital spending Steve Jobs Stiglitz studies supply-side supply-side economics Survey tax cuts tion top 1 percent trends trickle-down United University Press Uslaner wage Wall Street Washington wealthy William Easterly workers workforce York