Contours of Descent
U.S. Economic Fractures and the Landscape of Global Austerity
Publisher: Verso, London, United Kingdom
Year Published: 2003
Resource Type: Book
Cx Number: CX9318
Abstract: Pollin's book is a critique the notion of an "ideal" economy of the 1990's during the Clinton years and first two years of the Bush administration. His argument is that the neoliberal policies pursued by these administrations have led to increased economic inequality in both the United and States and abroad through the institutions of the World Trade Organization, NAFTA and the IMF. The prosperity of the Clinton years and the consequent slump of the Bush years are two sides of the same coin. Deregulated financial markets, lack of government controls to stabilize demand and basic hostility to worker's rights accounted for this shift in the market. He uses a Keynesian argument to prove his point that a more stable economy is only posible where destructive business cycles are diminished and government controls moderate the fluidity of the markets.