Contours of Descent: U.S. Economic Fractures and the Landscape of Global Austerity

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Contours of Descent: U.S. Economic Fractures and the Landscape of Global Austerity
by Robert Pollin
from Verso

Customer Reviews:

• Avg. Customer Rating: 4.5 / 5.0

• Good But Already Dated
  "Contours of Descent" is a critical re-examination (from a left/Keynesian perspective) of economic policy under Bill Clinton. The book also looks at the American economy during Bush's first term, and sizes up the impact of neo-liberalism on the developing world. The broad aim is to identify trends -- such as globalization and financial deregulation -- that are reducing growth and generating inequality in the U.S. and elsewhere. Among the findings:
  -- Real wages of American workers have been stagnant... more info

• Solid left-Keynesian critique, falters on broad social vision
  I studied at the University of Massachusetts Amherst, where Robert Pollin teaches and works at the Political Economy Research Institute, and I am generally sympathetic to his work on such topics as living wages and financial market regulation. I've used this book as a text for my introductory macroeconomics course.
  The book is well-written; beginning each chapter with a hook, often taken from a popular source, such as an article, editorial, or political speech, Pollin proceeds to demolish conservative... more info

• Settling Accounts
  Clinton boosters have not been shy about touting the Arkansas playboy's economic record while in office. After all, didn't he balance the budget after years of stunning deficits. And didn't unemployment stats fall to near record lows, with negligible inflation, no less. Wasn't capital also included, with equity prices rising to record highs. Yeah, good times for everyone, courtesy our 42nd president. Maybe his zipper had occasional problems, but the economy didn't.
  Anyone looking to get beyond the hype... more info

• Not much new information or analysis
  Most leftists will be familiar with almost all of the information in Robert Pollin's book. From the rightist nature of Clinton's policies, to the fact that most people's standard of living didn't improve much in the 1990s, to the failure of neoliberalism in India, Argentina, and other nations.
  Some bits are interesting. He refutes various circular explanations of why a large bubble developed in the 1990s and provides a good interpretation. The information on the farmer suicides in India will be new to... more info

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