Distinguished Senior Fellow Robert Kuttner demonstrates how the American economy is shaped by financial elites and their speculative excesses. He debunks alarmist claims about federal expenditures on programs like Social Security and Medicare and exposes the genuine dangers: unchecked deregulation, hedge funds and private equity abuses of the market, and America's dependence on foreign central banks.
He describes how the globalization of commerce and the rules of international trade have been engineered to serve the financial interests of industrialized nations and their corporate counterparts around the world. Kuttner is tough on the greed of Wall Street and its narrow vision of what makes the economy run; he is also deeply concerned about how our economy leaves our society less equal and less democratic-and more vulnerable to systemic shocks and risks.
With eye-opening research and poignant analysis, Robert Kuttner offers readers a new way to look at the role of capitalism in everyday life.
"The same speculative excesses that caused the Great Crash of 1929 are repeating themselves," Kuttner warns, and the solution is in a more a responsible, managed form of capitalism.