We've all heard that the American Dream is vanishing, and that the cause is rising income inequality. The rich are getting richer by rigging the system in their favor, leaving the rest of us to struggle just to keep our heads above water. To save the American Dream, we're told that we need to fight inequality through tax hikes, wealth redistribution schemes, and a far higher minimum wage.
But what if that narrative is wrong? What if the real threat to the American Dream isn't rising income inequality - but an all-out war on success?
In this timely and thought-provoking work, Don Watkins and Yaron Brook reveal that almost everything we've been taught about inequality is wrong. You'll discover:
Why successful CEOs make so much money - and deserve to
How the minimum wage hurts the very people it claims to help
Why middle-class stagnation is a myth
How the little-known history of Sweden reveals the dangers of forced equality
The disturbing philosophy behind Obama's economic agenda.
The critics of inequality are right about one thing: The American Dream is under attack. But instead of fighting to make America a place where anyone can achieve success, they are fighting to tear down those who already have. The real key to making America a freer, fairer, more prosperous nation is to protect and celebrate the pursuit of success - not pull down the high fliers in the name of equality.
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While I agree with most of this book,...
If you expect this book to explain why equality is unfair you will probably be disappointed. The central theme seems to be "we are all better off than we were before so inequality doesn't matter, and may even be a myth". The authors jumble and cherry pick a bunch of facts and statistics to make their case. For example they blame the unions for the American car industry's decline in the 1970's, but chose to ignore the fact that the manufacturers failed to understand what consumers wanted and produce cars accordingly.
In fairness, the book description made it clear that the views expressed would be biased. I had hoped, however it would get beyond the level of propaganda, and provide some good ideas for thought - even if I disagreed with them.
- Rob Stephens