The Attention Merchants | No More Work | The Corporate Reconstruction of American Capitalism, 1890-1916 | Keywords for Radicals | Born to Buy | The World Turned Inside Out | Pragmatism and the Political Economy of Cultural Revolution, 1850-1940 | Origins of the Federal Reserve System | Contesting Democracy
In his provocative new book, historian James Livingstonâauthor of the classic Origins of the Federal Reserve Systemâbreaks from the consensus to argue that underconsumption caused the current crisis and will prolong it. By viewing the Great Recession through the prism of the Great Depression, Livingston proves that private investment is not the engine of growth we assume it to be. Tax cuts for business are therefore a recipe for disaster. If our goal is to reproduce the economic growth of the postwar era, we need a redistribution of income that reduces corporate profits, raises wages, and promotes consumer spending.
About: Since the financial meltdown of 2008, economists, journalists, and politicians have uniformly insisted that to restore the American Dream and renew economic growth, we need to save more and spend less.
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