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by Michael Tomasky (Author)
Political journalist Michael Tomasky tracks an exciting change among progressive economists who are overturning decades of conservative dogma and offering an alternative version of capitalism that can serve broadly shared prosperity to all.
"Engaging, briskly paced ... On balance, history appears to be on Tomasky's side." --The New York Times Book Review In the first half of the twentieth century the Keynesian brand of economics, which saw government spending as a necessary spur to economic growth, prevailed. Then in the 1970s, conservatives fought back. Once they got people to believe a few simple ideas instead--that only the free market could produce growth, that taxes and regulation stifle growth--the battle was won. The era of conservative dogma, often called neoliberal economics, had begun. It ushered in increasing inequality, a shrinking middle class, and declining public investment. For fifty years, liberals have not been able to make a dent in it. Until now. In The Middle Out, journalist Michael Tomasky narrates this history and reports on the work of today's progressive economists, who are using mountains of historical evidence to contradict neoliberal claims. Their research reveals conservative dogma to be unfounded and shows how concentrated wealth has been built on the exploitation of women, minorities, and the politically powerless. Middle-out economics, in contrast, is the belief that prosperity comes from a thriving middle class, and therefore government plays a role in supporting families and communities. This version of capitalism--more just, more equal, and in which prosperity is shared--could be the American future.Author Biography
MICHAEL TOMASKY was appointed top editor of The New Republic in March 2021. He is also editor of Democracy: A Journal of Ideas, a contributing opinion writer for The New York Times, and a regular contributor to The New York Review of Books. He is the author of four books: Left for Dead (1996), Hillary's Turn (2001), Bill Clinton (2017), and If We Can Keep It (2019).
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