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"A comprehensive, collaborative elections resource."
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Myths of Rich and Poor: Why We're Better Off Than We Think
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| Parent | Parent |
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| Title | Myths of Rich and Poor: Why We're Better Off Than We Think |
| ASIN | 046504784X -
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| Category | Business/Economics |
| Contributor | Rob Brodner |
| Last Modified | Rob Brodner - February 08, 2006 12:52pm |
| Description | Is the U.S. in economic decline? Popular wisdom answers Yes. Over the past generation, say the pundits, real wages have fallen, the best jobs have disappeared overseas, the gap between rich and poor has increased, America has lost its competitiveness in world markets, and it now takes two incomes to survive.
Future generations, no doubt, will swallow the bitter pill of downward mobility, as America becomes a nation of hamburger flippers. Not so, claim Michael Cox and Richard Alm. In fact, the truth is almost exactly the opposite. And the authors rely on hard numbers to prove it. There's no hocus-pocus here. Cox, vice president and economic adviser of the Federal Reserve Bank in Dallas, and Alm, a business reporter with The Dallas Morning News, use the same facts and figures any of us could get in a good-sized library. Some of what you'll find in their upbeat report:
Real wealth - the lifestyle we routinely enjoy - has skyrocketed. Why the next generation should be even better off
Corporate downsizing creates jobs in the long run
America's trade deficit is a sign of strength
The rich are getting richer, but the poor are getting richer, too. And most of us are still getting ahead
America still ranks as the world's preeminent economic power - more dominant than ever
The United States is still the Land of Opportunity, where hard work, education, and entrepreneurial spirit pay off
Life has never been easier. We're working less than ever on the job and at home, and there's more time for pleasure
U.S. workers in almost all industries are more productive than at any time in the past
America leads in nearly all the technologies that will shape the next quarter century
Consumer debt - no worse than in the past, or the Achilles heel of our economic boom?
11 important ways to keep the American economic system humming
Cox and Alm sound a timely warning: What we don't know about the economy could hurt us. Many of the suggested remedies to problems that don't exist may leave us worse off. Myths of Rich and Poor, therefore, gives us the facts that could help ward off further government interference in the economy. It may even help us turn the clock back to a better day, when Americans were truly free. That's because Cox and Alm finally put the economic facts and figures where they've been all along - squarely on our side. |
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