Shifting Fortunes: The Perils of the Growing American Wealth Gap

This is a brief account of the wealth gap and would be good to get a simple grasp -- especially for those with little previous understanding. For in depth needs it is not recommended.

Despite the last ten years of booming prosperity and an ever rising stock market, most American households have a lower net worth today than they did in 1983. Nine years into the longest peacetime expansion in history, average American workers are still earning less (adjusting for inflation) than they did when Richard Nixon was president. All to many people have found themselves having to work longer hours and go deeper into debt in order to support an average middle class life style. The "wealth gap" poses serious social, political, personal, and economic consequences to American democracy and civic life. Shifting Fortunes: The Perils Of The Growing American Wealth Gap is a badly needed wake-up call to the American public if we are to insure and strengthen national prosperity in the 21st century.

This was a great read. Not having a background in economics, I found this book gave me a birds-eye view of the story behind the current "economic miracle," and put a lot of everyday things in startling perspective. A lot of the time books like this are dense and lose their usefulness by not connecting to day to day happenings. On top of the information, the charts and graphics are bright, clear and, startling. They play out the story of the book in crisp detail. I found this book also extremely helpful in talking to other people about why things are not what they seem. Shifting Fortunes also does not dwell on the negatives as it offers a number of clear policy alternatives beyond its rationale for sharing our country's wealth. When I read recent news coverage on CEO pay and current policies, this book served as a helpful "spin-detector."