Because the supposed greater prosperity of the U.S. over this period is skewed by the large slice in the U.S. taken by our top 1%. So the other 99% of the French have done better than the other 99% of us.
This is one of the interesting points made by Appelbaum in his book The Economists' Hour, a well -researched discussion of the capture of the major policy posts in this country by economists during the second half of the 20th century. Their outsized influence has extended into the 21st century. Their influence has caused our country, according to Applebaum, to become a country of consumers; we have lost our industrial and manufacturing bases because of the economists arguments in favor of unrestrained markets, jobs have been lost forever, and our environment has degraded in some cases beyond recapture.. What we are left with is an unsustainable economy, an increasingly frustrated citizenry, and a major threat to liberal democracy. Already many nations have looked at our system and declined to accept it.
This is not a goody two shoes book, however; it's quite a good history book and fascinating description on how the society has been moved by one professional group in little over 50 years to change basic beliefs we long held in the country.
This is one of the interesting points made by Appelbaum in his book The Economists' Hour, a well -researched discussion of the capture of the major policy posts in this country by economists during the second half of the 20th century. Their outsized influence has extended into the 21st century. Their influence has caused our country, according to Applebaum, to become a country of consumers; we have lost our industrial and manufacturing bases because of the economists arguments in favor of unrestrained markets, jobs have been lost forever, and our environment has degraded in some cases beyond recapture.. What we are left with is an unsustainable economy, an increasingly frustrated citizenry, and a major threat to liberal democracy. Already many nations have looked at our system and declined to accept it.
This is not a goody two shoes book, however; it's quite a good history book and fascinating description on how the society has been moved by one professional group in little over 50 years to change basic beliefs we long held in the country.
