Peter Temin

The themes in this book are becoming well worn territory in progressive social theory and as such I didn't think there'd be much to learn. Still, the way Temin's analysis interlocks increasingly pernicious policies relating to wealth, education, housing, political influence, voting rights, incarceration, drugs and race makes the challenge seem monolithic and terrifying.
It's especially frustrating to see how discrimination designed to target African Americans has been, almost unintentionally, adapted to target economically disadvantaged groups of all ethnic backgrounds.
My only reservations with this book stem from Temin's occasional Sanders-esque tub-thumping -as if the facts weren't grotesque enough to speak for themselves- and -thanks to the very wide number of issues covered- a narrative that tends to leap wildly from topic to topic especially in the early chapters.
It is more than slightly ironic that I was given this book for free, through my Amazon membership.… (meer)

Same story I’ve been reading for a while, with a different take framed by a political economy theory usually used to explain the functioning of poor, nondemocratic countries—as we are rapidly approaching in the US. While the US had a large middle class for a long time, it increasingly looks like a lopsided hourglass—20% of the population with good jobs and prospects for the future, and another 80% without, and no real chance of moving up. The top tier has good schools and health care, but works hard to keep the bottom tier in place—low wages for service jobs make the rich richer. Mass incarceration, housing segregation and disenfranchisement contribute to the bottom tier’s inability to fight back politically or rise individually, unless they have basically twenty years of good luck in which they get a good education and nothing bad happens to them or their immediate family.… (meer)

This books puts current worldwide economic issues in the proper historical perspective. The history makes the argument for cooperation more interesting and compelling. No matter what your political views, the authors have created an insightful read. Their prescription for the economy is nothing revolutionary; however, the way they synthesized so much history and economic thought into a short book is something new.

My biggest complaint about the book is its title. If I didn't know of Peter Temin, I would have thought this was another worthless economics text on "the crisis". Immodest titles seem to be popular these days. The title makes it sound as if the solution is simpleminded. In fact, the reader gains a strong appreciation for how hard it is to combine domestic politics, international relations, and economic matters in today's global world. I gained a new appreciation beyond liberal and conservative talking heads that was refreshing.

If I had to read only one book on the Euro crisis, I would choose this one.… (meer)