Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
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Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
Despite spending more on health care and K–12 education per capita than any other developed country, health care outcomes and student achievement also rank in the middle or worse internationally. The U.S. has the highest infant mortality rate and lowest life expectancy among its peer countries, and among the thirty-five OECD countries American chil
... See moreSteven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
A landmark suit brought by consumer rights activist Ralph Nader gave corporations that owned drugstores a First Amendment right to inform consumers by advertising their prices. However, it morphed into a corporate free speech movement that produced one court decision after another allowing unlimited corporate money to overwhelm democratic elections
... See moreSteven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
Specifically, in 1928, the top 1 percent accounted for 24 percent of all income. In 1970 the one-percenters’ share of the wealth was down to about 9 percent, the result of multiple economic dynamics and government policies, including the New Deal reforms and the post-war growth in the 1950s and 1960s of the country’s manufacturing base and, with it
... See moreSteven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
That, rather than a split between Democrats and Republicans, is the real polarization that has broken America since the 1960s: The
Steven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
protected versus the unprotected. Enhancing the common good versus maximizing and protecting the elite winners’ winnings.
Steven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
mortgages. That compelled him, he later told the Financial Crisis
Steven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
The protected overmatched, overran, and paralyzed the government.
Steven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
In 1950, the financial industry accounted for 9 percent of all corporate profits. Since the beginning of the twenty-first century, except for a brief downturn during the Great Recession, finance’s annual share of total American profits has hovered at about 30 percent, making it by far the largest industry sector in terms of profits produced.
Steven Brill • Tailspin: The People and Forces Behind America's Fifty-Year Fall--and Those Fighting to Reverse It
Income inequality has snowballed. Adjusted for inflation, middle-class wages have been nearly frozen for the last four decades, and discretionary income has declined if escalating out-of-pocket health care costs and insurance premiums are counted. Yet earnings by the top one percent have nearly tripled.