By David Cay Johnston

Praised as a “page-turner…just the type of highlight that's needed” (Counterpunch) and “a powerful chronicle of America’s ‘extreme inequality’” (Kirkus Reviews), Divided collects the writings of prime students, activists, and journalists—including Elizabeth Warren, President Barack Obama, Joseph E. Stiglitz, Paul Krugman, and Barbara Ehrenreich—to supply an illuminating, multifaceted examine some of the most urgent matters dealing with the US today.

According to Pulitzer Prize–winning journalist David Cay Johnston, such a lot american citizens, in inflation-adjusted phrases, at the moment are again to the typical source of revenue of 1966. Shockingly, from 2009 to 2011 a 3rd of all of the elevated source of revenue in a land of three hundred million humans went to simply 30,000 of them, whereas the ground ninety percentage observed their source of revenue fall. but during this so much unequal of built countries, each point of inequality continues to be hotly contested and poorly understood.

Exploring parts as diversified as schooling, justice, wellbeing and fitness care, social mobility, and political illustration, this is a vital resource—“an integral consultant to the reasons and results of the growing to be wealth gap” (World large Work)—for somebody who cares concerning the way forward for the USA and compelling proof that inequality should be overlooked not.

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Additional resources for Divided: The Perils of Our Growing Inequality

Sample text

Their difficulties are compounded by substantial changes in the credit market that have made debt instruments far riskier for consumers than they were a generation ago. , teaser rates, negative amortization, increased use of fees, cross-default clauses, penalty interest rates), has turned ordinary purchases into complex financial undertakings. In the mid-1980s the typical credit-card contract was about a page long; today it is more than thirty pages, often of dense legalese that even a lawyer cannot understand.

B y necessaries I understand not only the commodities which are indispensably necessary for the support of life, but whatever the custom of the country renders it indecent for creditable people, even of the lowest order, to be without. A linen shirt, for example, is, strictly speaking, not a necessary of life. The Greeks and Romans lived, I suppose, very comfortably though they had no linen. But in the present times, through the greater part of Europe, a creditable day-laborer would be ashamed to appear in public without a linen shirt, the want of which would be supposed to denote that disgraceful degree of poverty which, it is presumed, nobody can well fall into without extreme bad conduct.

Because if we want an economy that’s built to last, we need more of those young people in science and engineering. This country should not be known for bad debt and phony profits. We should be known for creating and selling products all around the world that are stamped with three proud words: Made in America. Today, manufacturers and other companies are setting up shop in the places with the best infrastructure to ship their products, move their workers, communicate with the rest of the world.

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