The Decline and Crash of the American Economy

Overview

“The Decline and Crash of the American Economy is a more serious book than any mere forecast could be, because it describes the actual process of deterioration that has been camouflaged by the euphoria of the Reagan years. It provides perspective both on the past and on the future. Joel Kurtzman’s technique of weaving together economic and political developments into one fabric establishes him as a significant new figure in the ongoing economic debate.” —Eliot Janeway
I call these problems the Decline and Crash ...

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Overview

“The Decline and Crash of the American Economy is a more serious book than any mere forecast could be, because it describes the actual process of deterioration that has been camouflaged by the euphoria of the Reagan years. It provides perspective both on the past and on the future. Joel Kurtzman’s technique of weaving together economic and political developments into one fabric establishes him as a significant new figure in the ongoing economic debate.” —Eliot Janeway
I call these problems the Decline and Crash of American economy because they are pulling down our standard of living, threatening our wealth, and weakening our standing in the world, not just in an overnight 508-point collapse of the stock market, but in a slow, steady, unrelenting decline of the economy as a whole. And there is little evidence that the correct steps are being taken—at any level—to end that decline. This book is not mean to scare, but is meant to wake people up. Our country is at risk, our investments are in jeopardy, and our future is uncertain. I will show where our problems lie and how they will affect us, and offer a plan to resurrect the United States from its decline. —from the Introduction

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Editorial Reviews

Publishers Weekly - Publisher's Weekly
Kurtzman, financial journalist for the New York Times, provides an intriguing but decidedly mixed bag of nostrums for what he sees as the failing American economy. He argues that the U.S. has been undergoing a slow economic decline since the eary 1970s. He believes that the much ballyhooed ``information and service economy'' is a ridiculous notion and blames much of our decline on the loss of high-paying manufacturing jobs to the Third World. He is an outspoken advocate of progress and excoriates the pessimism of the Club of Rome's The Limits to Growth report. His remedies for correcting our supposed decline range from Japanese and European-style economic planning to adopting the gold standard. His infatuation with European planning and subsidies causes him to ignore the fact that these policies have held European unemployment at around 10% for a decade. Nevertheless, Kurtzman's ideas are sure to spark debate. (May)
Library Journal
This book by a New York Times journalist laments the loss of U.S. economic leadership by detailing the recent decline in our prosperity. A plan for reversing this trend calls for emulating Japan and for curbing our budget and trade deficits. The last chapter presents a brief series of investment tips. Although fairly comprehensive, the analysis and recommendations are not as insightful as Lester C. Thurow's The Zero-Sum Solution ( LJ 12/1/85), nor as controversial as Ravi Batra's The Great Depression of 1990 ( LJ 6/15/87). Recommended only for libraries wishing another basic explanation of the decline. Richard C. Schiming, Mankato State Univ., Minn.
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Product Details

  • ISBN-13: 9780393025231
  • Publisher: Norton, W. W. & Company, Inc.
  • Publication date: 5/28/1988
  • Edition description: 1st ed
  • Pages: 228
  • Sales rank: 1,278,077
  • Product dimensions: 3.03 (w) x 3.03 (h) x 0.59 (d)

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