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The Servant Economy: Where America's Elite Is Sending the Middle Class

by

The Servant Economy: Where America's Elite Is Sending the Middle Class Cover

ISBN13: 9780470182390
ISBN10: 0470182393
All Product Details

 

Synopses & Reviews

Publisher Comments:

In his acclaimed 2006 book, The Global Class War, economist Jeff Faux predicted a major financial catastrophe in the next few years. Sometimes, one would rather be wrong.

In The Servant Economy, Faux surveys the wreckage and asks: Where do we go from here? The economy may recover from the financial crash, but the historic and geographic cushions that have kept Americans prosperous are deflated. The United States can no longer support the dreams of Wall Street for boundless speculative wealth, the military-industrial complex for global hegemony, and the middle class for rising living standards. One of these dreams? Certainly. Two? Perhaps. But not all three.

Republicans and Democrats brawl in public, but, in effect, they have already cut a deal: the middle-class dream will be sacrificed. Even with a cyclical economic recovery, the average American will face substantially lower income, less opportunity, and hardening class lines by the mid-2020s. As high-paying service jobs follow industrial jobs offshore and government safety nets are systematically dismantled, more and more Americans will scratch for a living as educated twenty-first-century servants—insecure and stripped of dignity.

Yet both the electorate and the elected are in denial. Americans tell pollsters the country may be in decline, but that they personally will be okay. Politicians perpetuate the myth that Americans' exceptional can-do spirit will save them from the consequences of their leaders' folly. But hope is not a strategy. "Jobs, jobs, jobs," the governing class shouts against the forces of globalization, when it really means: "Lower wages, lower wages, lower wages."

The Servant Economy takes the reader on a historical tour of the rise and fall of the idea that democratic government has a responsibility for shaping the future, shows how Barack Obama is trapped in Ronald Reagan's legacy, and delivers a savage indictment of Wall Street financiers and their Washington toadies who promote an age of austerity for the people and an age of gluttony for themselves. The book paints a brutally honest picture of what austerity will mean for twentysomethings laden with college debt who will become thirty- and fortysomethings still stuck in low-paying jobs, for the elderly who will have to work until they die, for communities where services and safety will deteriorate. It warns of a future in which military power becomes the only instrument for exerting U.S. influence in the world.

The core problem, writes Faux, is not that we don't know what to do, it is that the corruption of our politics by big money smothers any attempt at transformational change. Thus, there is no escape from the grim scenario he describes—unless an aroused citizenry abolishes the system that equates money with free speech and corporations with citizens. Washington insiders scoff that such an effort is "hopeless." Even more hopeless, Faux concludes, is the notion that we can shape a better economic future—unless we do so.

Review:

"Economist Faux (coauthor of The Global Class War) records the decline of the American middle class and the inability of either political party to arrest it. This pessimistic but insightful book reviews U.S. economic history and the recent flattening of incomes and expanding debt leading to the Great Recession of 2008 from a leftist perspective. Faux dissects the role of bankers, real estate lobbies, and government policies in creating the disaster, fingering both the Clinton and Bush administrations' loose oversight of Wall Street and responsibility in the housing debacle. As Faux sharply observes, employee evaluation is more subjective in a service economy, a fact that gives bosses increased power to control and subjugate workers, leading to a 'servant economy.' But Faux's guiding lights show their age. Barbara Tuchman's decades-old warnings on public folly are dated and mundane. Using Howard Zinn to frame American history, Faux concocts an oppressive but nebulous elite. Channeling Karl Marx, he suggests that business-oriented intellectuals and U.S. corporate leaders seek a permanent army of the unemployed to keep wages low and employees docile. Faux deplores the corrupting impact of big money on government and the gap between the governing class and the American middle class. His unpersuasive solution is a constitutional amendment prohibiting corporations the rights of persons and mandating 'hard limits on campaign spending.' Agent: Gail Ross. (July)" Publishers Weekly Copyright PWxyz, LLC. All rights reserved.

Synopsis:

Faber looks beyond the gloom and doom of the current economic crisis and urges American leaders to pull back from trying to remake the world and instead give priority to creating a better future at home.

Synopsis:

Renowned economist Jeff Faux explains why neither party's leaders have a plan to remedy America's unemployment, inequality, or long economic slide

America's political and economic elite spent so long making such terrible decisions that they caused the collapse of 2008. So how can they continue down the same road? The simple answer, that no in charge one wants to publicly acknowledge: because things are still pretty great for the people who run America. It was an accident of history, Jeff Faux explains, that after World War II the U.S. could afford a prosperous middle class, a dominant military, and a booming economic elite at the same time. For the past three decades, all three have been competing, with the middle class always losing. Soon the military will decline as well.

  • The most plausible projections Faux explores foresee a future economy nearly devoid of production and exports, with the most profitable industries existing to solely to serve the wealthiest 1%
  • The author's last book, The Global Class War, sold over 20,000 copies by correctly predicting the permanent decline of our debt-burdened middle class at the hands of our off-shoring executives, out of control financiers, and their friends in Washington
  • Since his last book, Faux is repeatedly asked what either party will do to face these mounting crises. After looking over actual policies, proposed plans, non-partisan reports, and think tank papers, his astonishing conclusion: more of the same.

Synopsis:

Praise for The Global Class War

"You will never think about 'free trade' the same way after reading Jeff Faux's superb book. As Faux makes clear, the globalization debate is really about whose interests are served by global elites, and how we need to go about reclaiming a democracy that serves ordinary people. This book should transform public discourse in America."
Robert Kuttner, founding coeditor of The American Prospect and author of Obama's Challenge

"Faux is clearly correct that the balance of power between labor and capital has shifted dramatically. Today, investment capital moves at blinding speed, while labor still must go by boat, train, and plane—and that's if it's lucky."
Michael Hirsh, New York Times

"A persuasive and revealing framework for understanding globalization in terms of class. It's a much-needed corrective to the way in which most news about the changing world economy is viewed, usually through a free market fundamentalist or, less frequently, a nationalist lens."
David Moberg, In These Times

"Incisive, rancorous . . . with a fluid grasp of both history and economics, Faux, founder of the Economic Policy Institute, critiques both Democrats and Republicans for protecting transnational corporations 'while abandoning the rest of us to an unregulated, and therefore brutal and merciless, global market.'"
Publishers Weekly

"Jeff Faux's astonishing story of how class works will scandalize the best names in Wall Street and Washington—especially the much admired Robert Rubin, who along with other elites colluded behind the backs of ordinary citizens in Mexico, Canada, and the United States. The most cynical Americans will be shocked by the sordid details. This really is an important book."
William Greider, author of Come Home, America and Secrets of the Temple

About the Author

JEFF FAUX is the founding president of and a distinguished fellow at the Economic Policy Institute. He's long written about the global economy for The American Prospect and The Nation. He is the author or coauthor of five books, including The Global Class War.

Table of Contents

Part I: The Pursuit of Folly

1. The Politics of Hope 3

2. A Brief History of America’s Cushion 21

3. The Cushion Deflates 47

4. The Age of Reagan: American Abandoned 69

Part II: What the Crash Revealed

5. Who Knew? They Knew 93

6. Obama: Stuch in the Sandpile 115

7. The Shaky Case for Optimism 143

Part III: When What We See Coming, Finally Comes

8. The Politics of Austerity 163

9. Grand Bargain? A Done Dea 185

10. Flickering Hope: Schools, Trade Winds, and the Bubble’s Return 201

11. From Service to Servitude 223

12. Hope, from the Ashes of No Hope 247

Acknowledgments 263

Notes 265

Index 285

What Our Readers Are Saying

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phoenix900, January 22, 2013 (view all comments by phoenix900)
So appropriate for our times and a simple solution we can unite behind.
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ny mef, August 21, 2012 (view all comments by ny mef)
Among recent treatments of globalization, domestic inequality and the fate of the American middle class, THE SERVANT ECONOMY stands out for its clarity and frankness. Its author, founding president of the Economic Polity Institute, offers a comprehensive historical narrative that explains how and why the U.S. has entered--and now, must learn to manage for the future--a period of absolute economic and political decline (its twilight of empire), the pains of which the governing elite will attempt to fix wholly on the backs of the great majority. From the inflation caused by Johnson's failure to raise taxes to fund the Vietnam War to Reagan's undermining of unions and the achievements of the New Deal, from Clinton's accommodation of the financial elite to Bush II's rampant corruption and military expansionism, Faux's analysis spares neither political party nor does it mince phrases in pinpointing the the persons and policies responsible for the trajectory that led to the Great Recession and threatens much the same, or worse, in years to come (Reagan left "Americans Abandoned," Obama is "Stuck in the Sandpile"). The author's deep pessimism about the country's coming decades, especially regarding the day-to-day lives of the middle and lower classes who have already suffered thirty years of income stagnation and dwindling opportunity, is mitigated by a single political recommendation: a mass effort to remove the influence of corporations on the U.S. election process.
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Product Details

ISBN:
9780470182390
Author:
Faber, David
Publisher:
John Wiley & Sons
Author:
Faux, Jeff
Subject:
Economic Conditions
Subject:
Economic History
Subject:
History Special Topics
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
Economics - General
Subject:
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
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faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Subject:
faux, jeff faux, servant economy, NAFTA, trade agreements, free trade, unemployment, globalization, occupy wall street, the servant economy, unemployment, the 99%, the 99 percent, inequality, unions, labor, teacher layoffs, exports, trade deficit, middle
Copyright:
Edition Description:
Hardcover
Publication Date:
20120703
Binding:
HARDCOVER
Language:
English
Pages:
304
Dimensions:
9.3 x 6.4 x 1.1 in

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The Servant Economy: Where America's Elite Is Sending the Middle Class New Hardcover
0 stars - 0 reviews
$27.95 In Stock
Product details 304 pages John Wiley & Sons - English 9780470182390 Reviews:
"Publishers Weekly Review" by , "Economist Faux (coauthor of The Global Class War) records the decline of the American middle class and the inability of either political party to arrest it. This pessimistic but insightful book reviews U.S. economic history and the recent flattening of incomes and expanding debt leading to the Great Recession of 2008 from a leftist perspective. Faux dissects the role of bankers, real estate lobbies, and government policies in creating the disaster, fingering both the Clinton and Bush administrations' loose oversight of Wall Street and responsibility in the housing debacle. As Faux sharply observes, employee evaluation is more subjective in a service economy, a fact that gives bosses increased power to control and subjugate workers, leading to a 'servant economy.' But Faux's guiding lights show their age. Barbara Tuchman's decades-old warnings on public folly are dated and mundane. Using Howard Zinn to frame American history, Faux concocts an oppressive but nebulous elite. Channeling Karl Marx, he suggests that business-oriented intellectuals and U.S. corporate leaders seek a permanent army of the unemployed to keep wages low and employees docile. Faux deplores the corrupting impact of big money on government and the gap between the governing class and the American middle class. His unpersuasive solution is a constitutional amendment prohibiting corporations the rights of persons and mandating 'hard limits on campaign spending.' Agent: Gail Ross. (July)" Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
"Synopsis" by , Faber looks beyond the gloom and doom of the current economic crisis and urges American leaders to pull back from trying to remake the world and instead give priority to creating a better future at home.
"Synopsis" by , Renowned economist Jeff Faux explains why neither party's leaders have a plan to remedy America's unemployment, inequality, or long economic slide

America's political and economic elite spent so long making such terrible decisions that they caused the collapse of 2008. So how can they continue down the same road? The simple answer, that no in charge one wants to publicly acknowledge: because things are still pretty great for the people who run America. It was an accident of history, Jeff Faux explains, that after World War II the U.S. could afford a prosperous middle class, a dominant military, and a booming economic elite at the same time. For the past three decades, all three have been competing, with the middle class always losing. Soon the military will decline as well.

  • The most plausible projections Faux explores foresee a future economy nearly devoid of production and exports, with the most profitable industries existing to solely to serve the wealthiest 1%
  • The author's last book, The Global Class War, sold over 20,000 copies by correctly predicting the permanent decline of our debt-burdened middle class at the hands of our off-shoring executives, out of control financiers, and their friends in Washington
  • Since his last book, Faux is repeatedly asked what either party will do to face these mounting crises. After looking over actual policies, proposed plans, non-partisan reports, and think tank papers, his astonishing conclusion: more of the same.

"Synopsis" by , Praise for The Global Class War

"You will never think about 'free trade' the same way after reading Jeff Faux's superb book. As Faux makes clear, the globalization debate is really about whose interests are served by global elites, and how we need to go about reclaiming a democracy that serves ordinary people. This book should transform public discourse in America."
Robert Kuttner, founding coeditor of The American Prospect and author of Obama's Challenge

"Faux is clearly correct that the balance of power between labor and capital has shifted dramatically. Today, investment capital moves at blinding speed, while labor still must go by boat, train, and plane—and that's if it's lucky."
Michael Hirsh, New York Times

"A persuasive and revealing framework for understanding globalization in terms of class. It's a much-needed corrective to the way in which most news about the changing world economy is viewed, usually through a free market fundamentalist or, less frequently, a nationalist lens."
David Moberg, In These Times

"Incisive, rancorous . . . with a fluid grasp of both history and economics, Faux, founder of the Economic Policy Institute, critiques both Democrats and Republicans for protecting transnational corporations 'while abandoning the rest of us to an unregulated, and therefore brutal and merciless, global market.'"
Publishers Weekly

"Jeff Faux's astonishing story of how class works will scandalize the best names in Wall Street and Washington—especially the much admired Robert Rubin, who along with other elites colluded behind the backs of ordinary citizens in Mexico, Canada, and the United States. The most cynical Americans will be shocked by the sordid details. This really is an important book."
William Greider, author of Come Home, America and Secrets of the Temple

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