The Servant Economy: Where America's Elite is Sending the Middle Class

The Servant Economy: Where America's Elite is Sending the Middle Class

by Jeff Faux


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Renowned economist Jeff Faux explains why neither party's leaders have a plan to remedy America's unemployment, inequality, or long economic slide

America's political and economic elite spent so long making such terrible decisions that they caused the collapse of 2008. So how can they continue down the same road? The simple answer, that no in charge one wants to publicly acknowledge: because things are still pretty great for the people who run America. It was an accident of history, Jeff Faux explains, that after World War II the U.S. could afford a prosperous middle class, a dominant military, and a booming economic elite at the same time. For the past three decades, all three have been competing, with the middle class always losing. Soon the military will decline as well.

  • The most plausible projections Faux explores foresee a future economy nearly devoid of production and exports, with the most profitable industries existing to solely to serve the wealthiest 1%
  • The author's last book, The Global Class War, sold over 20,000 copies by correctly predicting the permanent decline of our debt-burdened middle class at the hands of our off-shoring executives, out of control financiers, and their friends in Washington
  • Since his last book, Faux is repeatedly asked what either party will do to face these mounting crises. After looking over actual policies, proposed plans, non-partisan reports, and think tank papers, his astonishing conclusion: more of the same.

Product Details

ISBN-13: 9781684425877
Publisher: Turner Publishing Company
Publication date: 06/01/2012
Pages: 304
Product dimensions: 6.14(w) x 9.21(h) x 0.69(d)

About the Author

JEFF FAUX is the founding president of and a distinguished fellow at the Economic Policy Institute. He's long written about the global economy for The American Prospect and The Nation. He is the author or coauthor of five books, including The Global Class War.

Table of Contents

Part I: The Pursuit of Folly

1. The Politics of Hope 3

2. A Brief History of America’s Cushion 21

3. The Cushion Deflates 47

4. The Age of Reagan: American Abandoned 69

Part II: What the Crash Revealed

5. Who Knew? They Knew 93

6. Obama: Stuch in the Sandpile 115

7. The Shaky Case for Optimism 143

Part III: When What We See Coming, Finally Comes

8. The Politics of Austerity 163

9. Grand Bargain? A Done Dea 185

10. Flickering Hope: Schools, Trade Winds, and the Bubble’s Return 201

11. From Service to Servitude 223

12. Hope, from the Ashes of No Hope 247

Acknowledgments 263

Notes 265

Index 285

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