| The Raw Deal: How Myths and Misinformation about the Deficit, Inflation, and Wealth Impoverish America Contributor(s): Frank, Ellen (Author) |
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ISBN: 0807047279 ISBN-13: 9780807047279 Publisher: Beacon Press OUR PRICE: $17.10 Product Type: Paperback Published: April 2005 Annotation: How economic rhetoric and policy have been hijacked to serve the interests of the wealthy Americans have fallen for the ticker tape. We watch our portfolios, happily or nervously. We know there were a few bad apples at Enron and WorldCom, but we also know that: -The advent of mutual funds, low-cost brokerages, and the Internet has meant that the stock market is now more transparent, honest, and accessible to the small investor than ever before; -401(k)s give the individual responsibility and control over their retirement savings, and that makes us more responsible citizens; -Federal deficits are bad for the economy, especially, somehow, when they're linked to social spending; and -Controlling inflation is the most important task of our economic policy. But as economist Ellen Frank shows us, what we know is wrong. Over the past twenty years, Americans have been fed a mash of confusing financial and economic information. This information has distorted popular understanding of how the economy really operates and camouflaged the transformation of economic policy from a tool for improving the living standards of all to a tool for securing the perquisites of those with financial wealth. Sifting through confusing rhetoric on everything from the stock market to the federal budget to the global financial system, Frank reveals how financial interests came to dominate U.S. economic policy and lays out in clear and engaging prose the basis of real wealth and economic well-being. |
| Additional Information |
| BISAC Categories: - Business & Economics | Economic Conditions - Political Science | Public Policy - Economic Policy - Political Science | American Government - General |
| Dewey: 330.973 |
| LCCN: 2003025982 |
| Physical Information: 0.65" H x 6.32" W x 8.14" (0.61 lbs) 251 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Americans have fallen for the ticker tape. We watch our portfolios, happily or nervously. We know there were a few bad apples at Enron and World Com, but we also know: * The advent of mutual funds, low-cost brokerages, and the Internet has meant that the stock market is now more transparent, honest, and accessible to the small investor than ever before; * 401(k)s give the individual responsibility and control over their retirement savings, and that makes us more responsible citizens; * Federal deficits are bad for the economy, especially, somehow, when they're linked to social spending; and * Controlling inflation is the most important task of our economic policy. But as economist Ellen Frank shows us, what we know is wrong. Over the past twenty years, Americans have been fed a mash of confusing financial and economic information. This information has distorted popular understanding of how the economy really operates and camouflaged the transformation of economic policy from a tool for improving the living standards of all to a tool for securing the perquisites of those with financial wealth. |