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Showing posts with the label Great Recession

Pity the Billionaire by Thomas Frank

The world expected contrition. What it got was the opposite, delivered on the point of a bayonet. Instead of complying with the new speed limit, the strategists of the Right hit the gas. Introduction  Thomas Frank’s Pity the Billionaire explores a counterintuitive resurgence of conservative ideology following the 2008 financial collapse. The book looks into the remarkable phenomenon of grassroots support for free-market capitalism, even as its failures exacerbated economic hardship. Frank investigates the perplexing shift in American public opinion, wherein financial crises traditionally led to calls for government intervention and reform but instead inspired renewed enthusiasm for deregulation and laissez-faire policies. His analysis not only critiques this response but attempts to understand why, in a period of economic despair, Americans rallied to defend the systems and ideologies that had caused their suffering. Thematic Analysis  Frank frames his book as a chronicle of “...

After Shock by Robert B. Reich

None of us can thrive in a nation divided between a small number of people receiving an ever larger share of the nation’s income and wealth, and everyone else receiving a declining share. Introduction  In the ever-evolving landscape of economics and societal structures, few voices resonate as profoundly as that of Robert B. Reich. In his seminal work, "After Shock" Reich navigates the tumultuous waters of economic disparities and explores the repercussions of a changing world order. Published in 2010, the book remains remarkably relevant, serving as a compass for understanding the aftershocks of economic shifts that continue to reverberate globally.  Reich, a former U.S. Secretary of Labor and a respected economist, weaves a narrative that goes beyond the cold statistics and charts. Instead, he digs into the human aspect of economic transformation, shedding light on the lives affected by the seismic changes in the economic landscape. In this review, we will look into the key ...