The Raw Deal,9780807047279

The Raw Deal

by
ISBN13: 9780807047279
ISBN10: 0807047279
Format: Trade Paper
Pub. Date: 2005-04-15
Publisher(s): Beacon Press
List Price: $20.16

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Summary

Over the past twenty years, Americans have been fed a mash of confusing financial and economic information. Economist Ellen Frank's alternately enlightening and shocking volume shows us how what we've been taught to think about stocks, interest rates, personal opportunities, employment, government spending, inflation, and the like distorts popular understanding of how the economy really operates. But public confusion serves a distinct political goal: to camouflage the transformation of economic policy from a tool for improving the living standards of all to a tool for securing privileges for the wealthy.

Author Biography

Ellen Frank, senior economic analyst for the Poverty Institute at Rhode Island College, writes and lectures widely on U.S. and international economic policy

Table of Contents

CHAPTER ONE INTRODUCTION 1(17)
Money Illusion
3(4)
The Real Economy
7(5)
The Raw Deal
12(6)
CHAPTER TWO THE GREAT STOCK ILLUSION 18(43)
The Illusion of Market Democracy
21(3)
The Illusion of Market Efficiency
24(6)
The Illusion of Public Information
30(7)
The Illusion of Wealth Creation
37(7)
The Illusion of Retirement Security
44(17)
CHAPTER THREE DEBT DELUSIONS 61(53)
The Myth of the Burdensome Debt
66(6)
The Death of the Keynesian Consensus
72(4)
The Crowding-Out Myth
76(5)
Deficit Politics
81(12)
The Myth of the Social Security Trust Fund
93(8)
The Paradox of Thrift
101(13)
CHAPTER FOUR THE INFLATION MYTH
What's Wrong with Inflation?
114(9)
Sado-Monetarism
123(13)
Greenspan and the Myth of the NAIRU
136(6)
The Triumph of Central Banking
142(11)
CHAPTER FIVE THE ALMIGHTY DOLLAR 153(39)
Freeing Capital
154(3)
The Dollar Standard
157(3)
The Debt Trap
160(5)
Hot Money
165(5)
The Real Debacle
170(3)
The Convertibility Catastrophe
173(3)
Bailouts
176(5)
Global Deflation
181(11)
CHAPTER SIX A BETTER DEAL 192(17)
Real Well-Being
198(3)
The Revolt of the Elites
201(3)
A Better Deal
204(5)
Notes 209(14)
Acknowledgments 223(1)
Index 224

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