After the Waste Land: A Democratic Economics for the Year 2000

After the Waste Land: A Democratic Economics for the Year 2000

After the Waste Land: A Democratic Economics for the Year 2000

After the Waste Land: A Democratic Economics for the Year 2000

Synopsis

This critique of Reaganomics attempts to provide alternatives to both the supply experiments of the 1980s and neoliberal strategies of austerity. It presents arguments for economic democracy with a worker-oriented blueprint for improving productivity, growth, employment and economic justice.

Excerpt

Seven years have passed since the publication of our first book, Beyond the Waste Land.

Just before that book was published, the economic crisis confronting the United States had reached its nadir. Since then, despite many years of economic growth through the 1980s, the U.S. economic crisis has not been overcome; it has merely changed form. The world is different, the political and social environment within the United States is different--but, as we will show in the pages to follow, the underlying reality of a continuing U.S. economic crisis persists just as obdurately as it did ten years ago. Indeed, the gravity of the situation has in many respects been heightened by the fact that we are now into the third decade of the crisis.

Because in our view political developments and economic policies during the past decade have served only to aggravate the continuing crisis, we believe that our earlier analysis remains relevant to the current predicament of the U.S. economy. We have therefore decided to update and to extend our earlier work in order to analyze developments in the 1980s and to project forward our vision of the fundamental change in direction so desperately needed by the U.S. economy in the 1990s and beyond. To mark both the continuity and the novelty of the present volume, we have retitled the book After the Waste Land: A Democratic Economics for the Year 2000.

Roughly one-half of the content of this book consists of edited and updated material from our earlier Beyond the Waste Land: A Democratic Alternative to Economic Decline. What we have retained from the earlier book is primarily our account and analysis of the postwar boom and crisis of the U.S. economy from the end of World War II to the year 1979; this material is presented--with some extensions and new data--in Part II of the present volume as the "Anatomy of a Crisis." We have also retained some material from our earlier book in the new Part I, "Economics as Politics": a few sections of the original introductory chapter are included in our new chapter 1, and much of the original account of past long swings in the U.S. economy is reproduced in our new chapter 2.

The other half of the present volume is new since the original publication of . . .

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