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The Vanishing Middle Class: Prejudice and Power in a Dual Economy (English Edition) eBook Kindle
The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor.
Many poorer Americans live in conditions resembling those of a developing country—substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other—black, Latino, not like "us." Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail.
Descrição do produto
The Vanishing Middle Class is a book for our unsettled times. We are a divided nation economically and politically, brought on by recent changes in the demand for and supply of skill layered on top of a long history of racial politics. Part social commentary, part history, part academic inquiry, Temin's book tells us how the two parts of the modern dual economy can be glued back together.―Claudia Goldin, Henry Lee Professor of Economics, Harvard University
Arguing that the high-wage sector promotes inequality and deterioration of the middle class through its disproportionate influence on political decision making in various areas such as criminal justice, education, and social welfare policy, The Vanishing Middle Class is a significant addition to the existing literature on inequality.―Gerald Jaynes, Professor, Department of Economics & African American Studies, Yale University --Este texto se refere à uma edição alternativa kindle_edition
Sobre o Autor
Peter Temin is professor of Economics Emeritus at MIT. He is the coauthor of Keynes: Useful Economics for the World Economy and of The Leaderless Economy.
Stephen R. Thorne is a member of the resident acting company at Providence's esteemed Trinity Repertory Company, where his favorite productions include Hamlet, Henry V, and The Cider House Rules. He lives with his family in Lincoln, Rhode Island.--Este texto se refere à uma edição esgotada ou disponível no momento.
Detalhes do produto
- ASIN : B08BT2XDNT
- Editora : The MIT Press (10 março 2017)
- Idioma : Inglês
- Tamanho do arquivo : 864 KB
- Leitura de texto : Habilitado
- Leitor de tela : Compatível
- Configuração de fonte : Habilitado
- X-Ray : Não habilitado
- Dicas de vocabulário : Habilitado
- Número de páginas : 324 páginas
- Avaliações dos clientes:
Sobre o autor
Avaliações de clientes
Principais avaliações de outros países
Throughout the book he demonstrates how what he terms as 'racecraft', irrational and unsubstantiated beliefs based upon the concept of race, has been central to the formulation of economic and social policy throughout the history of the United States and has led to tendency for 'white' people in the US (who comprise a slight majority of all poor peopr people) to support policies that are aginst their own economic interests. This is where the 'Prejuduce and Power' part of the title is derived.
He provides some useful broad brush ideas for how th tide can be turned with regard to the US economy, education system, healthcare and national infrastructure. This book is a useful antidote to th neo-liberal economic orthodoxy and a worthwhile and stimulating read.
Can Britain's political system hold back the tide of selfish individualism so devastatingly exposed by Temin in the US? We have to hope so - otherwise we too may become the victims of strongman politics and destructive inequality.
In economics, models are used to help explain an economy. The models are simplified ways of looking at them. Since they are simplified they miss things making them imperfect. That's always the case with economic models. None of them are perfect but some are better than others.
The models he uses in this book is from "W. Arthur Lewis, a professor at the University of Manchester in England, (who) proposed a theory of economic development in a paper published in 1954."
He also won a Nobel Prize in Economics for his "pioneering research into economic development research with particular consideration of the problems of developing countries"
"He noted that development did not progress only country by country, but also by parts of countries. Economic progress was not uniform, but spotty. Ports where merchants organized trade in and out of a county might well grow rich before the country as a whole. Parts of a country might grow apart as a result. Lewis wanted to generalize from examples like this to learn how the parts of such an economy related to each other. Lewis assumed that developing countries often have what has come to be called a dual economy. He termed the two sectors, “capitalist” and “subsistence” sectors. The capitalist sector was the home of modern production using both capital and labor. Its development was limited by the amount of capital in the economy.
The subsistence sector was composed of poor farmers where the population was so large relative to the amount of land or natural resources that the productivity of the last worker put to work—called the “marginal product” by economists—was close to zero. The addition of another farmer would not add to the total production. The new worker would be like a fifth wheel on your car."
Using this model, the "Lewis Model", explains how things like slums can and do form.
The model, when created, was for developing countries.
The author takes that idea and applies it to the US. The frightening part is it works pretty well to describe what we are seeing.
He starts with US history similarity to Howard Zinn's "A People's History of the United States" tying racism to class and yes we have class in the US along with racism. Having a linkage to racism means it also has loads of difficulties in trying to fix things just like bigotry has. The TV show "Dear White People" does a very good job of outlining some of the difficulties and many of them are shared between the two. I also suggest that TV show.
Having those two things tied together means that very rich folks can just have one group fight another group while they get away with loads of things.
It goes well beyond just that point to many others that using the model and they all fit pretty well to describe what we are seeing in the US.
A model for developing countries is fitting the US, a developed country. Think about that for a second or two.
It's a good, well-written book. I definitely suggest folks pick it up and read it.