By Norton Garfinkle
Norton Garfinkle paints a disquieting photo of the US this present day: a kingdom more and more divided among fiscal winners and losers, a nation in which the middle-class American Dream turns out progressively more elusive. fresh executive regulations replicate a dedication to a brand new supply-side winner-take-all Gospel of Wealth. Garfinkle warns that this supply-side monetary imaginative and prescient favors the privileged few over nearly all of americans striving to raised their monetary condition.Garfinkle employs historic perception and data-based financial research to illustrate compellingly the pointy departure of the supply-side Gospel of Wealth from an American perfect that dates again to Abraham Lincoln—the imaginative and prescient of the USA as a society in which ordinary, hard-working members can get forward and achieve a middle-class dwelling, and in which government performs an energetic position in increasing possibilities and making sure opposed to financial exploitation. Supply-side fiscal guidelines raise financial disparities and, Garfinkle insists, they fail on technical, genuine, ethical, and political grounds. He outlines a clean fiscal imaginative and prescient, consonant with the nice American culture of making sure powerful fiscal development, whereas retaining the middle-class American Dream.
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Extra resources for The American Dream vs. The Gospel of Wealth: The Fight for a Productive Middle-Class Economy (The Future of American Democracy Series)
With him this was a primary and allcontrolling passion. . ” The real evil of slavery, in Lincoln’s view, was precisely the denial of this right. Interestingly, in his campaign for president, Lincoln emphasized the rights of African Americans to the same economic rights as all other Americans, setting these economic rights ahead of such issues as full citizenship or voting rights. The whole purpose of the United States was to clear the path for the individual to labor and get ahead. 20 Significantly, for Lincoln and the new Republican Party the doctrine of free labor implied an active role for government in fulfilling this mission.
America was not only the world’s first democracy; it was also the first modern state to be governed, not by an aristocracy, but by a prosperous middle class. Criteria of Judgment The American Dream and the Gospel of Wealth propose very diﬀerent specific economic policies to address the modern needs of our nation. But the specific proposals can be judged by economic, political, and moral criteria that are clear and straightforward. The economic dimension can be evaluated with the question, Does the policy increase the growth of the economy?
The politics of The American Economic Vision economic class has generally played a lesser role in the United States than in the nations of Western Europe—and all to the good. In another way, though, Americans’ lack of interest in the specifics of economic policy creates problems. It prevents citizens from connecting the dots in ways that would help them protect their interests. For example, few voters entering the polls in November understood that President Bush’s – tax cuts, by wiping out federal surpluses and creating large federal deficits, had in eﬀect made the coming Social Security crisis less manageable.