000			02823nam a22002897a 4500
008			170124b xxu||||| |||| 00| 0 eng d
020			_a9781595231239
037			_cPurchased _nPrism Books,Kochi
041			_aEnglish
082			_a339.22086220973 _bCON/UP
100			_aConard, Edward
245			_aUPSIDE OF INEQUALITY : _bGood Intentions Undermine the Middle Class
250			_a1
260			_aNew York _bPortfolio-Penguin _c2016/01/01
300			_g311
500			_aFour 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.
650			_aMiddle class--Economic conditions
650			_aUnited States
650			_aEconomic history
650			_aEconomic policy
650			_aEquality
942			_cLEN
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942			_2ddc
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942			_2ddc
999			_c148316 _d148316