Any
economic downturn, John Hively sees is nothing more
than an adjustment to the distribution of wealth and
income, and not in favor of working people.
Using
statistics from the Commerce Department and other
sources, and beginning with the Great Depression,
Hively traces how recessions begin, how corporations
and financial markets are interconnected and
describes the consequences of current distribution of
wealth and income practices. His economic analysis,
and historical comparisons, blend to show that the
current practice of distribution of wealth and income
has left a huge concentration of wealth at the top.
During the last 30 years, income and wealth in North
America have increasingly shifted from those who work
for a living to an economically and politically
connected, but small, group of affluent people: in
almost all categories the upper 10% of American
families soared, while the remaining 90% either
stagnated, or at the lower end, actually declined.
By
clarifying how the economy actually functions (which
is radically different than what we have been led to
believe), and through the subject of financial
markets, globalization, big corporations and CEO
millionaires, Hively is able to show that as these
trends continue to unfold, the wealthiest are
accumulating ever-increasing riches, and warns that
this growing income gap will prove to be
destabilizing factor.
Table of Contents
John
Hively studied economics at the University of
Tennessee and has been a freelance writer for
Business Journal. This is his first book.
224
pages, 6x9, bibliography, index
Paperback ISBN: 1-55164-280-8 $24.99
Hardcover ISBN: 1-55164-281-6 $53.99
Business & Economics / Cultural Studies
May
2006
