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A Fabulous Failure - The Clinton Presidency and the Transformation of American Capitalism (Hardcover)
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A Fabulous Failure - The Clinton Presidency and the Transformation of American Capitalism (Hardcover)
Series: Politics and Society in Modern America
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How the Clinton administration betrayed its progressive principles
and capitulated to the right When Bill Clinton was elected
president in 1992, he ended twelve years of Republican rule and
seemed poised to enact a progressive transformation of the US
economy, touching everything from health care to trade to labor
relations. Yet by the time he left office, the nation’s economic
and social policies had instead lurched dramatically rightward,
exacerbating the inequalities so troubling in our own time. This
book reveals why Clinton’s expansive agenda was a fabulous
failure, and why its demise still haunts us today. Nelson
Lichtenstein and Judith Stein show how the administration’s
progressive reformers—people like Robert Reich, Ira Magaziner,
Laura Tyson, and Joseph Stiglitz—were stymied by a new world of
global capitalism that heightened Wall Street influence, undermined
domestic manufacturing, and eviscerated the labor movement. Robert
Rubin, Larry Summers, and Al Gore proved champions of this
financialized world. Meanwhile, Clinton divided his own party when
he relied on Republican votes to overhaul welfare, liberalize
trade, and deregulate the banking and telecommunications
industries. Even the economic boom Clinton ushered in—which tamed
unemployment and sent the stock market soaring in what Alan Blinder
and Janet Yellen termed a “fabulous decade”—ended with a
series of exploding asset bubbles that his neoliberal economic
advisors neither foresaw nor prevented. A Fabulous Failure is a
study of ideas in action, some powerfully persuasive, others
illusionary and self-defeating. It explains why and how the Clinton
presidency’s progressive statecraft floundered in a world where
the labor movement was weak, civil rights forces quiescent, and
corporate America ever more powerful.
General
Imprint: |
Princeton University Press
|
Country of origin: |
United States |
Series: |
Politics and Society in Modern America |
Release date: |
September 2023 |
Firstpublished: |
2023 |
Authors: |
Nelson Lichtenstein
• Judith Stein
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Dimensions: |
235 x 156mm (L x W) |
Format: |
Hardcover
|
Pages: |
544 |
ISBN-13: |
978-0-691-24550-8 |
Categories: |
Books
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LSN: |
0-691-24550-9 |
Barcode: |
9780691245508 |
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