Pulitzer Prize winner Hedrick Smith's new book is an extraordinary
achievement, an eye-opening account of how, over the past four
decades, the American Dream has been dismantled and we became two
Americas.
In his bestselling "The Russians, " Smith took millions of readers
inside the Soviet Union. In "The Power Game, " he took us inside
Washington's corridors of power. Now Smith takes us across America
to show how seismic changes, sparked by a sequence of landmark
political and economic decisions, have transformed America. As only
a veteran reporter can, Smith fits the puzzle together, starting
with Lewis Powell's provocative memo that triggered a political
rebellion that dramatically altered the landscape of power from
then until today.
This is a book full of surprises and revelations--the accidental
beginnings of the 401(k) plan, with disastrous economic
consequences for many; the major policy changes that began under
Jimmy Carter; how the New Economy disrupted America's engine of
shared prosperity, the "virtuous circle" of growth, and how America
lost the title of "Land of Opportunity." Smith documents the
transfer of $6 trillion in middle-class wealth from homeowners to
banks even before""the housing boom went bust, and how the U.S.
policy tilt favoring the rich is stunting America's economic
growth.
This book is essential reading for all of us who want to
understand America today, or why average Americans are struggling
to keep afloat. Smith reveals how pivotal laws and policies were
altered while the public wasn't looking, how Congress often ignores
public opinion, why moderate politicians got shoved to the
sidelines, and how Wall Street often wins politically by hiring
over 1,400 former government officials as lobbyists.
Smith talks to a wide range of people, telling the stories of
Americans high and low. From political leaders such as Bill
Clinton, Newt Gingrich, and Martin Luther King, Jr., to CEOs such
as Al Dunlap, Bob Galvin, and Andy Grove, to heartland Middle
Americans such as airline mechanic Pat O'Neill, software systems
manager Kristine Serrano, small businessman John Terboss, and
subcontractor Eliseo Guardado, Smith puts a human face on how
middle-class America and the American Dream have been undermined.
This magnificent work of history and reportage is filled with the
penetrating insights, provocative discoveries, and the great
empathy of a master journalist. Finally, Smith offers ideas for
restoring America's great promise and reclaiming the American
Dream.
Praise for "Who Stole the American Dream?"
" A] sweeping, authoritative examination of the last four decades
of the American economic experience."--The Huffington Post
"Some fine work has been done in explaining the mess we're in. . .
. But no book goes to the headwaters with the precision, detail and
accessibility of Smith.""--The Seattle Times"
"Sweeping in scope . . . Smith] posits some steps that could
alleviate the problems of the United States.""--USA Today"
" "
"Brilliant . . . a] remarkably comprehensive and coherent analysis
of and prescriptions for America's contemporary economic
malaise."--"Kirkus Reviews "(starred review)
"Smith enlivens his narrative with portraits of the people caught
up in events, humanizing complex subjects often rendered sterile in
economic analysis. . . . The human face of the story is inseparable
from the history."--Reuters
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