Authors: Chuck Collins, Felice Yeskel
ISBN-13: 9781595580153, ISBN-10: 1595580158
Format: Paperback
Publisher: New Press, The
Date Published: October 2005
Edition: REV
Chuck Collins is senior program developer at United for a Fair Economy, a senior fellow at Class Action, and the author of several books. Felice Yeskel is the co-director of Class Action and a faculty member in the Social Justice Education Program at the University of Massachusetts, Amherst. They are co-founders of UFE and Responsible Wealth. They live in Massachusetts.
Revised following the 2004 presidential election, a graphic portrait of the growing gap between the rich and everyone else in America.
In 1968, African Americans earned 55 cents for every dollar of white income. At the current pace, it would take 581 years for African Americans to achieve income parity.
States including Alabama, Tennessee, and Virginia tax food and basic needs at a higher rate than income from investments.
Welfare for very low income people totaled $193 billion in 2004. Aid to "dependent corporations" exceeded $800 billion.
This updated edition of the widely touted Economic Apartheid in America looks at the causes and manifestations of wealth disparities in the United States, including tax policy in light of the 2001 and 2003 tax cuts and recent corporate scandals.
Published with two leading organizations dedicated to addressing economic inequality, the book looks at recent changes in income and wealth distribution and examines the economic policies and shifts in power that have fueled the growing divide.
Praised by Sojurners as "a clear blueprint on how to combat growing inequality," Economic Apartheid in America provides "much-needed groundwork for more democratic discussion and participation in economic life" (Tikkun). With "a wealth of eye-opening data" (The Beacon) focusing on the decline of organized labor and civic institutions, the battle over global trade, and the growing inequality of income and wages, it argues that most Americans are shut out of the discussion of the rules governing their economic lives.
Accessible and engaging and illustratedthroughout with charts, graphs, and political cartoons, the book lays out a comprehensive plan for action. Charts, graphs, and black-and-white illustrations throughout.
Acknowledcments | vii | |
Foreword | ix | |
Introduction: Economic Boom for Whom? | 1 | |
The Amazing U.S. Economy? | 1 | |
Warning: Entering New Global Economy--Proceed with Caution | 4 | |
The Trends: Rising Tide, Sinking Boats | 6 | |
We Can Build a Fairer Economy | 7 | |
About the Book | 9 | |
1. | The Dangerous Consequences of Crowing Inequality | 13 |
Pressures Facing Our Households | 14 | |
Inequality and the Threat to Prosperity | 25 | |
Inequality and Democracy | 28 | |
Inequality and Public Health | 31 | |
Social Polarization and the Withdrawal of the Haves | 32 | |
You Are on Your Own: The New Individualism | 35 | |
Gated Communities and Bigger Prisons | 37 | |
2. | The Picture: Crowing Economic Insecurity and Inequality | |
The Inequality of Income and Wages | 39 | |
Race, Gender, and Income | 43 | |
The Gap Between Highest and Average Wage Earners | 46 | |
The Inequality of Wealth | 52 | |
What Is Wealth and Why Is It Important? | 52 | |
The Concentration of Wealth | 54 | |
The Myth of Who Owns Assets | 58 | |
The Wealth-Holders | 59 | |
Global Inequality | 61 | |
The Champagne Glass Global Distribution of Income | 63 | |
3. | The Causes of Inequality | 68 |
Why Has Inequality Grown? | 68 | |
A Power Shift | 69 | |
Money Power in Our Democracy | 70 | |
The Rise in Concentrated Corporate Power | 74 | |
The Attack on Worker Rights | 81 | |
Decline in the Influence of the Civic Sector | 86 | |
Decline in Independent Politics | 88 | |
The Rules Governing the Economy | 90 | |
Global Trade and Investment Policy | 90 | |
Taxation | 100 | |
The Restructuring of Work and the Breakdown in the Social Contract | 108 | |
Regulation and Deregulation | 114 | |
Federal Reserve and Monetary Policy | 116 | |
Government Social Spending, the Safety Net, and Corporate Welfare | 119 | |
The Culture of Greed vs. the Common Good | 124 | |
4. | Building a Fair Economy Movement | 127 |
The Tradition of Taking Action to Reduce Inequality | 128 | |
Movement Building | 131 | |
Stages of Social Movements | 132 | |
Phase 1 | Cultural Preparation and Organization | 134 |
Phase 2 | Building Public Support | 135 |
Phase 3 | Consolidation | 136 |
Building a Movement Infrastructure | 136 | |
Strategy: What Policies Are We For? | 138 | |
5. | Actions to Close the Economic Divide | |
Building a Real Democracy | 145 | |
Building Workers' Power | 145 | |
Removing the Influence of Big Money from Our Democracy | 152 | |
Building Independent Politics | 157 | |
Reining in Corporate Power | 160 | |
Changing the Rules to Build a Fair Economy | 171 | |
Global Trade and Investment Rules | 171 | |
Reducing Wage Inequality | 181 | |
Reducing Wealth Inequality | 189 | |
Fair Taxation | 192 | |
Fighting Corporate Welfare | 201 | |
Reforming Monetary Policy and the Federal Reserve | 206 | |
Alternatives for a Fair Economy | 208 | |
Conclusion | 213 | |
Appendix | We Are United for a Fair Economy | 215 |
Further Reading | 219 | |
Notes | 221 |