Description
Corporate consultant Pollina argues that the economic woes of the United States, which primarily impact the middle and lower classes, are due to more systemic problems than the burst housing bubble and shenanigans in the financial sector. He argues that the political system has been captured by special interest groups that have drafted laws and regulations that have contributed to an anti-business environment that has spurred the flight of jobs oversees. He also argues that government at all levels needs to refrain from deficit spending, which threatens American economic power; that trade policy needs to be reformed in order to retain the use of import duties and the like to keep competition open between foreign and domestic companies; that the educational system needs to be reformed so as to produce a more-skilled workforce; and that access to credit needs to be tightened. Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)
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In 1968, there were sixty-two lobbyists in Washington; today there are thirty-four thousand, outnumbering members of Congress and their staffers two to one. By 2008, these lobbyists were spending approximately $8.2 million for influence per day. Few, if any, of these lobbyists represent the majority of Americans in the middle class. So it’s not surprising, given these statistics, that real median household income in America has stagnated for over a decade. This hard-hitting book documents that a combination of special interest groups and their army of money-peddling lobbyists, along with government mismanagement of business and the economy by both parties, have betrayed the American middle and lower classes for the last twenty years. The result is a host of misguided laws and policies that have driven jobs and whole industries offshore, never to return. The author takes issue with those who emphasize the potential benefits of globalization without taking notice of its many negative effects on American society. He also argues that inept policy threatens to derail the American economy permanently and that our economic malaise is more than a short-term reaction to a financial market collapse or global market forces. He cites critical areas where changes must be made to reverse the negative trend:• Improving our 1950s-era educational system to produce a workforce able to compete for 21st-century jobs.• Reform of tax codes that have been driving companies and jobs offshore. We are currently a nation that manufactures practically nothing!• Weaning all levels of government away from deficit spending, which drains economic power• Pursuing free trade that also means fair trade.• Ending the cycle of credit-card debt and all-too-easy mortgage credit to finance ultimately unaffordable lifestyles.• Making the United States more business friendly, so companies will grow and provide desperately needed jobs here at home.The author warns that unless we implement these and other recommended changes, the American economy will inevitably decline while China, India, and other up-and-coming nations ascend. He maintains that all is not lost. If we follow the course he sets, we can reinvigorate and renew our economy, rebuild America’s greatness, create 21st-century jobs, and more. This book provides a roadmap for reclaiming American preeminence.
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