The Upside of Inequality

How Good Intentions Undermine the Middle Class

Author: Edward Conard

Publisher: Penguin

ISBN: 0698409914

Category: Business & Economics

Page: 320

View: 1134

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The scourge of America’s economy isn't the success of the 1 percent—quite the opposite. The real problem is the government’s well-meaning but misguided attempt to reduce the payoffs for success. Four years ago, Edward Conard wrote a controversial bestseller, Unintended Consequences, which set the record straight on the financial crisis of 2008 and explained why U.S. growth was accelerating relative to other high-wage economies. He warned that loose monetary policy would produce neither growth nor inflation, that expansionary fiscal policy would have no lasting benefit on growth in the aftermath of the crisis, and that ill-advised attempts to rein in banking based on misplaced blame would slow an already weak recovery. Unfortunately, he was right. Now he’s back with another provocative argument: that our current obsession with income inequality is misguided and will only slow growth further. Using fact-based logic, Conard tracks the implications of an economy now constrained by both its capacity for risk-taking and by a shortage of properly trained talent—rather than by labor or capital, as was the case historically. He uses this fresh perspective to challenge the conclusions of liberal economists like Larry Summers and Joseph Stiglitz and the myths of “crony capitalism” more broadly. Instead, he argues that the growing wealth of most successful Americans is not to blame for the stagnating incomes of the middle and working classes. If anything, the success of the 1 percent has put upward pressure on employment and wages. Conard argues that high payoffs for success motivate talent to get the training and take the risks that gradually loosen the constraints to growth. Well-meaning attempts to decrease inequality through redistribution dull these incentives, gradually hurting not just the 1 percent but everyone else as well. Conard outlines a plan for growing middle- and working-class wages in an economy with a near infinite supply of labor that is shifting from capital-intensive manufacturing to knowledge-intensive, innovation-driven fields. He urges us to stop blaming the success of the 1 percent for slow wage growth and embrace the upside of inequality: faster growth and greater prosperity for everyone.
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Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the MIddle Class

Based on the Book by Edward Conrad

Author: Worth Books

Publisher: Open Road Media

ISBN: 1504045955

Category: Business & Economics

Page: 30

View: 4261

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Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class Based on the Book by Edward Conard So much to read, so little time? This brief overview of The Upside of Inequality tells you what you need to know—before or after you read Edward Conard’s book. Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader. This short summary and analysis of The Upside of Inequality includes: Historical context Chapter-by-chapter overviews Important quotes Fascinating trivia Glossary of terms Supporting material to enhance your understanding of the original work About The Upside of Inequality: How Good Intentions Undermine the Middle Class by Edward Conard: New York Times–bestselling author Edward Conard argues in favor of an American economic system that results in massive income inequality. Breaking down the causes of inequality while dispelling many of the myths surrounding stagnating wages and financial disparity for the the lower and middle classes, Conard dismisses the call for wealth redistribution. He, instead, makes the case for lower taxes, less regulation of banks, restricted immigration, and lower trade deficits. The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.
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The Capitalist Comeback

The Trump Boom and the Left's Plot to Stop It

Author: Andrew Puzder

Publisher: Hachette UK

ISBN: 1478975423

Category: Political Science

Page: 384

View: 8857

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Andy Puzder, the former CEO of Carl's Jr. and Hardee's, says that "capitalism" is not a dirty word, and thankfully President Trump understands this; his pro-business policies will bring back economic growth and secure our future. As a successful CEO in the restaurant industry, Andy Puzder uniquely understands how important the profit motive is to our country's ultimate prosperity. Furthermore, as the grandson of immigrants, the son of a car salesman, and someone who worked his way up from earning minimum wage to running an international business, he has a first-hand view of how America's exceptional capitalist spirit can lift everyone to success. In 2016, the American people faced a stark choice between two very different presidential candidates. Hillary Clinton spent most of her adult life involved in politics and promised to uphold and advance the progressive legacy of President Barack Obama who had first won the White House on promises to "spread the wealth around." Donald Trump, on the other hand, came from the business world, was an unapologetic capitalist, used his own personal wealth as inspiration, and promised simply to "Make America Great Again." By choosing Trump over Clinton, the American people put a stop to decades of government expansion under progressive leadership, and they might just have saved our economy by doing so. America was once a land where everyone was encouraged to seek their fortune - the more prosperous our citizens, the more our whole society could in turn prosper. But leftist forces in the United States have been seeking to tarnish the pursuit of prosperity and to paint profit as an evil motivation fit only for greedy plutocrats. Andrew Puzder understands this first-hand after a progressive smear campaign stopped him from joining President Trump's cabinet. As Puzder explains in his new book, The Capitalist Comeback, this was an act of desperation from a left wing facing irrelevance with a pro-business president in the White House. From its roots in the Progressive Era to labor unions to education to entertainment to its political resurgence with avowed socialist candidates such as Bernie Sanders, Puzder traces the development of the anti-profit forces in the United States and shows how, under President Trump, they can be vanquished for good.
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Uncommon Character

Stories of Ordinary Men and Women Who Have Done the Extraordinary

Author: Douglas Feavel

Publisher: Aneko Press

ISBN: 1622456882

Category: Biography & Autobiography

Page: 424

View: 8187

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A captivating non-fiction anthology filled with heroic profiles, epic tales, and timeless parables. You'll meet valiant personalities who've challenged and changed the world in remarkable ways. Their unforgettable stories are religious and secular, historical and current, unknown and familiar, foreign and domestic. Prepare to encounter priests, farmers, pilots, immigrants, missionaries, engineers, martyrs, businessmen, lawyers, pioneers, presidents, soldiers, writers, and scientists – their dynamic legacies are destined to become part of us and our heritage. Collectively, their stories answer the pertinent questions of our time: What makes a genuine hero? How can a hero personify godly character? Why is personal character so vital for our families and country? These are unique tales told with zest; these are unforgettable tales to long treasure. Enjoy the exciting profiles and parables; then share them in family, church, workplace, ministry, and educational settings because that's where they began and that's why they were written. The 26 portraits will quickly find special places in heart and head, dwelling therein to influence life's crucial choices. It's unlike any other book due to the dual advocacy on behalf of the redeeming value of stories and the critical need for reinvigorating personal and national character. Every chapter advocates making a positive impact on others and mastering the days we are given. Readers depart with an abiding conviction of the significant difference one committed life can make. No matter our past or where we find ourselves today, we will be inspired to finish well.
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