Aftershock by Robert B. Reich
The Next Economy and America's Future

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Synopsis

A brilliant new reading of the economic crisis—and a plan for dealing with the challenge of its aftermath—by one of our most trenchant and informed experts.

When the nation’s economy foundered in 2008, blame was directed almost universally at Wall Street. But Robert B. Reich suggests a different reason for the meltdown, and for a perilous road ahead. He argues that the real problem is structural: it lies in the increasing concentration of income and wealth at the top, and in a middle class that has had to go deeply into debt to maintain a decent standard of living.

Persuasively and straightforwardly, Reich reveals how precarious our situation still is. The last time in American history when wealth was so highly concentrated at the top—indeed, when the top 1 percent of the population was paid 23 percent of the nation’s income—was in 1928, just before the Great Depression. Such a disparity leads to ever greater booms followed by ever deeper busts.

Reich’s thoughtful and detailed account of where we are headed over the next decades reveals the essential truth about our economy that is driving our politics and shaping our future. With keen insight, he shows us how the middle class lacks enough purchasing power to buy what the economy can produce and has adopted coping mechanisms that have a negative impact on their quality of life; how the rich use their increasing wealth to speculate; and how an angrier politics emerges as more Americans conclude that the game is rigged for the benefit of a few. Unless this trend is reversed, the Great Recession will only be repeated.

Reich’s assessment of what must be done to reverse course and ensure that prosperity is widely shared represents the path to a necessary and long-overdue transformation. Aftershock is a practical, humane, and much-needed blueprint for both restoring America’s economy and rebuilding our society.


From the Hardcover edition.
 

About Robert B. Reich

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Robert B. Reich is Chancellor's Professor of Public Policy at the Richard and Rhoda Goldman School of Public Policy at the University of California, Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He has written twelve books, including The Work of Nations, which has been translated into twenty-two languages, and the best seller Supercapitalism. His articles have appeared in The New Yorker, The Atlantic, The New York Times, The Washington Post, and The Wall Street Journal. He is also cofounding editor of The American Prospect magazine and provides weekly commentaries on public radio's Marketplace. He lives in Berkeley and blogs at www.robertreich.org.
 
Published September 21, 2010 by Vintage. 208 pages
Genres: Business & Economics, Political & Social Sciences, Computers & Technology, Science & Math. Non-fiction

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Kirkus Reviews

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Former Secretary of Labor Reich (Public Policy/Univ. of California, Berkeley; Supercapitalism: The Transformation of Business, Democracy, and Everyday Life, 2007, etc.) argues that America will not have a sustained economic recovery until the middle class has more buying power.

Sep 08 2010 | Read Full Review of Aftershock: The Next Economy ...

Publishers Weekly

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Reich (Supercapitalism), secretary of labor under Bill Clinton and former economic adviser to President Obama, argues that Obama's stimulus package will not catalyze real recovery because it fails to

Aug 16 2010 | Read Full Review of Aftershock: The Next Economy ...

The New York Times

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The Clinton-era labor secretary Robert B. Reich fears that inevitable national belt-tightening could trigger a political convulsion.

Sep 24 2010 | Read Full Review of Aftershock: The Next Economy ...

New York Journal of Books

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And, unlike another liberal economist (initials: P.K.) who becomes more vein-popping with each op-ed column he pens in The New York Times, Reich has been consistent, reasonable and readable in his work for magazines like The Nation and online at Slate.

Sep 21 2010 | Read Full Review of Aftershock: The Next Economy ...

New York Journal of Books

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And, unlike another liberal economist (initials: P.K.) who becomes more vein-popping with each op-ed column he pens in The New York Times, Reich has been consistent, reasonable and readable in his work for magazines like The Nation and online at Slate.

Sep 21 2010 | Read Full Review of Aftershock: The Next Economy ...

Jacksonville.com

When God asks the peasant what he wants to do, the peasant replies, "Kill the cow."

Sep 26 2010 | Read Full Review of Aftershock: The Next Economy ...

Daily Kos

[ Parent ].

Oct 10 2010 | Read Full Review of Aftershock: The Next Economy ...

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