Download or read book Quicklet on Aftershock The Next Economy and America s Future CliffNotes like Summary written by Tianzi Harrison and published by Hyperink Inc. This book was released on 2012-02-24 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: ABOUT THE BOOK Aftershock: The Next Economy and America's Future by Robert B. Reich came out in September 2010, two months before the 2010 US midterm election, and two years after the Great Recession began. At the time, millions of Americans had already lost their jobs, and diverse speculations about the economy were circulating the public sphere. As many people continued to fear that banks would foreclose their homes, and jobs were being created at a much slower rate than previously. Americans were desperate to know why the economy had not recovered as promised. To answer these and other economic and financial concerns, Reich offers a lucid insight into the underlying problems of the current economy. In his words, “for too long, the average Americans have lived beyond their means because the super-rich have tucked away an increasingly larger share of the country's total income." Until structural changes are introduced in the economy to restore the people's purchasing power, predicts he, the country is going to experience a long-lasting aftershock left by the Great Recession. MEET THE AUTHOR Tianzi Harrison is a native Chinese speaker from Wuhan, China. She went to middle school in Singapore and completed her bachelor's and master's degrees in film in the U.S. Since April 2010, she has been working as a freelance writer, editor, and translator. She writes about cinema and travel, with a focus in Asia, especially China. Her personal website can be accessed at http://isasite.weebly.com/. EXCERPT FROM THE BOOK Mallaby also criticizes Reich for his assertion that economic growth is predicated on redistribution of wealth. A more extreme version of this criticism is found in Robert Gavin's review. Gavin states that "Reich's economic case delves into ideological and class-war blather" (The Boston Globe). The antagonism that Gavin feels towards Reich goes on to explain why he rejects Reich's critique of Wall Street. Unfortunately, Gavin misunderstands Reich to be someone supportive of ransacking and sabotaging Wall Street banks. That is not the case and has never been the case. In 2008, Reich participated in an online interview with Freakonomics readers not long after his book Supercapitalism was published. In it, he says that he is not in favor of rescuing Wall Street banks when they make bad investments, and he does not "believe in redistribution of wealth for the sake of redistributing wealth" (Freakonomics). Neither of these ideas equal class warfare. What Reich wants is for investment banks to share profits with taxpayers instead of getting bailed out by taxpayers' money whenever they screw up. Buy a copy to keep reading!

Download or read book Summary Aftershock written by BusinessNews Publishing, and published by Primento. This book was released on 2017-01-30 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The must-read summary of Robert B. Reich's book: "Aftershock: The Next Economy and America's Future". This complete summary of "Aftershock" by Robert B. Reich, a renowned American political commentator and economist, presents his argument that the crash of the American economy was due to the concentration of income and wealth at the top of society. In his book, the author explains that the middle class has been forced into debt in order to maintain their living standards, creating an unstable economic situation. Reich highlights that the only step forward is to regain balance in the American economy so that economic and financial benefits are shared throughout society. Added-value of this summary: • Save time • Understand how income inequality led to the financial crisis • Expand your knowledge of politics, society and economics To learn more, read "Aftershock" and discover the current state of the American economy and the action needed for a solution.

Download or read book Summary Aftershock written by Businessnews Publishing and published by . This book was released on 2017-01-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The must-read summary of Robert B. Reich's book: "Aftershock: The Next Economy and America's Future". This complete summary of "Aftershock" by Robert B. Reich, a renowned American political commentator and economist, presents his argument that the crash of the American economy was due to the concentration of income and wealth at the top of society. In his book, the author explains that the middle class has been forced into debt in order to maintain their living standards, creating an unstable economic situation. Reich highlights that the only step forward is to regain balance in the American economy so that economic and financial benefits are shared throughout society. Added-value of this summary: - Save time - Understand how income inequality led to the financial crisis - Expand your knowledge of politics, society and economics To learn more, read "Aftershock" and discover the current state of the American economy and the action needed for a solution.

Download or read book Aftershock written by Robert B. Reich and published by Vintage. This book was released on 2010-09-21 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.