The Great Divergence: America's Growing Inequality Crisis and What We Can Do about It by Timothy Noah

Mar 10, 2013 Melissa Gans rated it 2 of 5 stars

I initially was very excited to read this book as I thought he might propose some good solutions to the income inequality that has steadily increased over the past three decades. Instead, the entire book save the last chapter is an outlining of the various reasons we are in this economic mess of haves and mostly have-nots. The author finally gets to his short list of solutions to this problem and although in a more democratic country, they would make sense, other than electing Democrats into off...more

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Feb 27, 2013 L12_tomj rated it 5 of 5 stars

Shelves: economics

What makes award winning journalist Timothy Noah's book so noteworthy is how deftly combines economic theory with facts in a readable style that demolishes neo conservatives views that income inequality is at acceptable levels in the United States in 2013. Anyone who has lived as an adult in the state the last 30 can recognize some of the economic and class divide realities that Noah expounds on; the stagnation and decline of middle income wages,the decreasing political influence and inability t...more What makes award winning journalist Timothy Noah's book so noteworthy is how deftly combines economic theory with facts in a readable style that demolishes neo conservatives views that income inequality is at acceptable levels in the United States in 2013. Anyone who has lived as an adult in the state the last 30 can recognize some of the economic and class divide realities that Noah expounds on; the stagnation and decline of middle income wages,the decreasing political influence and inability to collectively bargain in private and public sectors of unions, the coalescence of lobbying power by big corporations on the legislative agenda of Congress and the presidency, and the devasting impact of "too big to fail banks" and lax regulation of the banking industry on housing, credit card rules, and bankruptcy law.

Noah well researched scholary look into income inequality debunks ideas that computers, globalization, and poor public school preparation of students for 21st century economies is the reason for the 1% retaining a big slice of the the United States overall economic pie. Why not entirely discounting the above ideas on why income inequality has increased in the United States, Noah brings new facts and other Nobel Prize winning economists arguments to lend academic support to the idea that lobbyists and corporate giants are having an undue influence on Congress, tax laws, and employer to employee relations excaberating the welfare and economic well being of the working and middle classes.

Timothy Noah also gives many reasonable solutions to reverse the American political and economic climate in the 21st century to work for common citizens; create fairer tax laws and eliminate tax loopholes, eliminate the Taft Hartley Act of 1947 to legitimate and spur unionization, nationalize preschool education enrollment for all children, put price controls on higher education to make it affordable to more families and reduce costs, regulate banking institutions to prevent periodic high risk bubbles risky investments like the dot.com and housing bubble by doing away with government bailouts through federal regulation and oversight. Noah's well written and insightful book will fuel futher journalistic and scholarly digging into the now national and political topic of income inequality. (less)

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Jan 16, 2013 Mike Schwartz rated it 4 of 5 stars

In 1910, the richest 1% accounted for 18% of the nation’s income (the peak of Mark Twain’s “Gilded Age”). Today, the richest 1% account for 24% of the nation’s income. Timothy Noah’s book takes a look at why this wealth gap has increased so much over the last few decades and what we can do to reverse that trend.. He shows how America’s enduring belief in social mobility blinds us to widening income inequality. Noah identifies various reasons for the growing income gap. First he dispenses with th...more In 1910, the richest 1% accounted for 18% of the nation’s income (the peak of Mark Twain’s “Gilded Age”). Today, the richest 1% account for 24% of the nation’s income. Timothy Noah’s book takes a look at why this wealth gap has increased so much over the last few decades and what we can do to reverse that trend.. He shows how America’s enduring belief in social mobility blinds us to widening income inequality. Noah identifies various reasons for the growing income gap. First he dispenses with the factors that have had little effect. Despite race and gender inequality the Black-White income gap has actually not increased and the male- female wage gap has actually shrunk by nearly half. There is also little evidence that immigration harms the economic interests of native-born Americans: immigrants actually stimulate the economy by providing cheap labor (although cheap labor does drive down wages for high school dropouts). Computers and automation have eliminated some middle wage jobs but they also create new jobs so technology cannot be blamed. The effect of international trade is negligible but might still be a contributing factor. Noah shows how each of these elements may have had a small effect but points to other factors that have had a larger effect: the anti-poor and anti-working class attitude of today’s politicians, the decline of labor unions (since unions reduce income disparities among members), the redistribution of wealth upwards to the richest 10% due to regressive taxation policies, the paltry increases in the minimum wage, and the failings of our educational system to increase the supply of better educated workers. In the “what we can do about it” portion of the book, Noah advocates for robust policy action on all fronts. What makes the book such a bracing read is that Noah retains a health skepticism towards any single theory for rising wealth inequality. He shares research on either side of each argument, which makes this book a worthwhile read for both liberals and conservatives. You may not agree with everything he says but it’s sure to stimulate a health debate.(less)

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Nov 28, 2012 Breakingviews rated it 3 of 5 stars

Review by Richard Beales

Is rising U.S. income inequality a disaster, or just capitalism? In “The Great Divergence”, Timothy Noah analyses the 30-odd year trend, and concludes it’s a crisis. Yet earning differences are inevitable in any kind of market system. It’s arguably not so much inequality per se as the real decline in middle-class incomes that justifies serious concern.

The trend has made U.S. income distribution, as measured by the widely used Gini coefficient, among the most unequal in th...more Review by Richard Beales

Is rising U.S. income inequality a disaster, or just capitalism? In “The Great Divergence”, Timothy Noah analyses the 30-odd year trend, and concludes it’s a crisis. Yet earning differences are inevitable in any kind of market system. It’s arguably not so much inequality per se as the real decline in middle-class incomes that justifies serious concern.

The trend has made U.S. income distribution, as measured by the widely used Gini coefficient, among the most unequal in the Organisation for Economic Co-operation and Development. With a coefficient of 0.38 (after taxes and transfers) in the mid-2000s as cited by Noah, only Portugal, Turkey and Mexico were more unequal. “Economically speaking, the richest nation on earth is starting to resemble a banana republic”, Noah writes.

Such rhetoric reflects the author’s left-of-center political stance, as does his use of a phrase coined by economist Paul Krugman for the title of his book. Ideology doesn’t prevent him from a nuanced evaluation of a wide array of ideas and economic research about the causes of U.S. inequality. He doesn’t, for example, dismiss immigration as a factor. On the other hand, he makes an intriguing case that the Great Divergence owes something to the decline of organized labor, arguing that strong unions may have helped keep inequality stable or even narrowing in the midst of rising overall prosperity.

Noah isn’t entirely persuasive that income inequality, even growing inequality, is necessarily bad in itself. But he does shed light on how the American middle class has been hollowed out by economic changes, and how ordinary families have often seen little, no or negative changes in their inflation-adjusted paychecks - even as the rich have got much richer. In other words, the rising tide is lifting some boats far more than others. In the United States of late, some lesser craft are sinking.

A triennial Federal Reserve survey, released earlier this month, reinforces the point. Between 2007 and 2010, thanks to the financial crisis and presumably its effect on investment income, the rich - and everyone else except the poorest 20 percent of families - saw their median real incomes go down. Perhaps more significantly, the overall median U.S. family income in 2010 was also down more than 6 percent in real terms since the 2001 survey, against a decline of only just over 1 percent for the top decile of families.

Moreover, the median net worth of American families was down a sharp 27 percent, after inflation, over those nine years, while the median wealth within the top 10 percent of incomes was up 17 percent. The rich do get richer, even through tough times.

Noah discusses the impact of government policy on inequality and also shows how America isn’t the socially and economically mobile haven many of its citizens imagine. That’s important, because some observers claim, essentially, that inequality doesn’t matter in the United States, where everyone can improve their lot by working hard. It’s not that easy.

“The Great Divergence” is fuzzy in places. It pays too much attention to the huge wealth concentration in banks and boardrooms. The phenomenon exists - look no further than the planned purchase, revealed this week, of Hawaii’s sixth-largest island Lanai by Oracle billionaire Larry Ellison for a rumored $500 million or more - but it is more anecdote than the heart of the problem.

And in contrast to his analysis, Noah’s prescriptions seem a tad ideological. The rich should probably pay more tax. It’s hard to see why they shouldn’t pay at least the same rates as the relatively poor, preferably without the mind-numbing range of deductions and tweaks allowed by the current U.S. tax code. But proposing a 70 percent top marginal rate of income tax, even though that has existed in the past, seems unrealistic and not merely provocative, as the author may have intended.

Electing Democratic presidents, another proposal, rests on a record that shows they have generally overseen income gains across the board rather than just for the rich. But it would have been less cute to try to identify the relevant policies rather than the politics.

There are other suggestions in a relatively short concluding section. But Noah doesn’t claim to know all the answers. What he does do in the bulk of the book is raise important questions while providing a very readable and broad-ranging history of American income distribution over roughly the course of the 20th century. And even more than rising inequality, it’s the notion that the middle class is falling behind in absolute as well as relative terms - and in both income and wealth - that makes “The Great Divergence” worthwhile and well timed.(less)

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Oct 11, 2012 Marks54 rated it 4 of 5 stars

This is perhaps the best book around on the set of issues associated with "income inequality" that has come to play a large role in political and economic discussions in the past few years. This is a topic that has more than a few times prompted great disagreements. It is also complex and involves large amount of data and various statistics from that data that are used to make argumentative points. The topic is also complex because it involves lots of subtopics, including: 1) the plight of the p...more This is perhaps the best book around on the set of issues associated with "income inequality" that has come to play a large role in political and economic discussions in the past few years. This is a topic that has more than a few times prompted great disagreements. It is also complex and involves large amount of data and various statistics from that data that are used to make argumentative points. The topic is also complex because it involves lots of subtopics, including: 1) the plight of the poor; 2) the erosion of the middle class; 3) the outsourcing of semi-skilled positions overseas; 4) the growth in the premium from higher education (and the cost of that education); 5) the rise of the very wealthy (top tenth of one percent); 6) the role of immigration in creating income inequality; 7) the role of government in creating and sustaining income inequality . . . Get the idea? Noah systematically works through these topics to present the issues as well as show what is known about each. He is up to date on his research and skillful in explaining it so that you don't need econometrics classes to get the point. (The references are provided for anyone who wishes to look through the actual studies.)

All this, provided with some effective writing, would make the book commendable. Noah ends his work especially effectively by providing a chapter on different theories regarding what the research results on inequality mean as well as a chapter on some policy steps that could be taken. I like the separating out of rationales because it helps the reader to separate the "is" from the "ought" and thus facilitates a better discussion. The policy chapter comes across as thin, but these are hard problems and it would be a problem if he tried to "solve" these problems. I also appreciate that the author is not shy about his own biases, but still goes to great effort to separate out representations of research from rationales attempting to feed research results through personal biases.

I don't expect authors to be value-free. I just appreciate truth in advertising regarding what an author's values and biases are.(less)

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Oct 10, 2012 Bob H rated it 4 of 5 stars

As for what it sets out to do -- describe, in well-researched detail, the economic mess that America is in -- it succeeds. We've heard the talking points, and we've seen some details, in bits and pieces, in columns like those of Paul Krugman and Robert Reich. Here, at least, is a resource for anyone who wants to understand, and discuss, the problem in coherent terms.

The picture Mr. Noah describes is alarming enough, in his telling. Inequality in wealth has revived since its low point in Eisenhow...more As for what it sets out to do -- describe, in well-researched detail, the economic mess that America is in -- it succeeds. We've heard the talking points, and we've seen some details, in bits and pieces, in columns like those of Paul Krugman and Robert Reich. Here, at least, is a resource for anyone who wants to understand, and discuss, the problem in coherent terms.

The picture Mr. Noah describes is alarming enough, in his telling. Inequality in wealth has revived since its low point in Eisenhower's time, certainly inequality took off in Reagan's. Inequality in _income_ is even more unequal, and more alarming, as he shows. Demographic data -- shifts in family and ethnicity -- is one factor, but just one. The cost of a college education rises rapidly, is debt-ridden rapidly, at a time when it's the new minimum for skilled labor and a middle-class existence. Jobs going offshore is part of it, but not all. Government tax reform since Reagan was part of it, but shifts in government regulation and social policy, much more so. The fall in labor-union power and membership, and the rise in the uppermost weathy, is part of it, but Europe had the same global-market shocks but much less union decline and less visible-wealth rise.

In this light, the "why it matters" chapter may seem just a series of rebuttals to the conventional wisdom, and I can see how it might have disappointed other reviewers. Reading this chapter, the reader needs to remember all the material that went before. Yes, we understand: inequality is not good; income disparity does matter -- a lot -- and creates, yes, unhappiness; the quality of life is not improving even though productivity has; and deny it as you will, inequality is on the rise. He should have stated this in this summary perhaps with more emphasis, because the final "what to do" chapter is radical. Tax the rich; increase the gov't payroll; issue more H-1B permits for foreign skills; universalize preschool and contain college costs; bring back financial regulation; encourage labor unions; and (perhaps too flippantly stated) elect Democratic presidents. (Although I should note that Obama just signed (4/2012) new legislation -- his "JOBS" act -- loosening investment regulations even further).

Still, it's handy to have this book and its data. The national discussion has been way too simplistic and this at least groups the complexities in well-sorted ways.

Strongly recommend this book -- but let it help you draw your own conclusions.(less)

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Sep 11, 2012 Marty rated it 4 of 5 stars

This is really interesting. I didn't read the whole thing word for word, and I got lost in some of the financial explanations, but I learned a lot. The author covers reasons for income inequality in the Us, why it matters, and what to do about it. (higher income taxes on rich,the stimulus should have been direct government jobs rather that dole the money out to private companies to use, import more skilled labor,universal preschool, price controls on universities and colleges, re-regulate Wall S...more

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Aug 30, 2012 Susan rated it 4 of 5 stars

Shelves: non-fiction

This book is frightening, because even though we all sort of know income inequality in the U.S. has been getting worse, the reality is even more terrible that I'd suspected. Noah is a journalist, so this book is well-researched, and every claim Noah makes is documented. He discusses exactly what's been happening, as well as the reasons for it and the fact that it doesn't have to be that way.

There are separate chapters on the "college premium," immigration, the loss of strength of labor unions, a...more

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Jul 24, 2012 Mike Martin rated it 5 of 5 stars

Timothy Noah is a well respected American journalist who works as a senior editor and columnist for the New Republic magazine. He has also written for Slate, the Wall Street Journal, U.S. News & World Report, the New York Times, the Washington Post, Harper's, and Fortune. In 2011 he was awarded the Hillman Prize for a 10-part Slate series on income inequality in the U.S. that he has now expanded into "The Great Divergence".

Noah goes into great detail in describing how the 1% pulled away fro...more Timothy Noah is a well respected American journalist who works as a senior editor and columnist for the New Republic magazine. He has also written for Slate, the Wall Street Journal, U.S. News & World Report, the New York Times, the Washington Post, Harper's, and Fortune. In 2011 he was awarded the Hillman Prize for a 10-part Slate series on income inequality in the U.S. that he has now expanded into "The Great Divergence".

Noah goes into great detail in describing how the 1% pulled away from the 99% in the last thirty years and why America has greater inequality today than countries like Kenya, Venezuela or Yemen. Because he is a great writer he managed to do this in an interesting and even entertaining style as he almost dispassionately demolishes all arguments against the reality of income inequality in our modern society.

Those reasons include a failure by America’s schools to help workers keep pace with the skills that advancing technology demand, rising competition with China, India and other low-wage countries and the lack of minimum wage laws to keep up with inflation. But even more important in his view was the decline of unions, especially in the private sector and an unending attack on workers by right wing politicians in both mainstream and conservative wings of the Republican Party.

But it is his proposed solutions that make reading Noah's book worthwhile. While he agrees that a more progressive taxation system would help reduce inequality he doesn't see it as the total solution. He notes that in 1979 the American taxation system helped moderate inequality by 23% while in 2007 after the Bush tax cuts it had dropped to 17%. But he does advocate for higher taxes on incomes over $250k and more tax brackets for incomes between $1million and $10 million a year.

His newish ideas include hiring more federal government workers as part of a stimulus that could raise millions of low income citizens into the middle class, a national child care program and reducing the cost of university and college education. He also argues for more regulation of financial markets which is not surprising given the American experience with unfettered markets and the mess that caused. And finally he calls for specific measures to revive the American trade union movement, part of which will involve electing more Democrats at every level including re-electing President Barack Obama.

"The Great Divergence" is a well-written and well-researched catalogue of the sins that free markets and neo-conservatives have committed on the road to creating the social and economic monster that is income inequality. But it is also another marker that says we have had enough and that the 99% are ready to reclaim our economies and our democracies.
(less)

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Jun 05, 2012 Caren rated it 4 of 5 stars

Shelves: adult-nonfiction

The author of this book is a journalist, so his explanations of complex topics are remarkably clear and accessible to the ordinary person. He examines varied possible reasons for the decline of the middle class and the increasing divide between the very rich and everyone else in this country. He opens the book with a look at other times in American history when such an economic divide has caused social unrest. One of these periods was the very early twentieth century, when he says radical politi...more The author of this book is a journalist, so his explanations of complex topics are remarkably clear and accessible to the ordinary person. He examines varied possible reasons for the decline of the middle class and the increasing divide between the very rich and everyone else in this country. He opens the book with a look at other times in American history when such an economic divide has caused social unrest. One of these periods was the very early twentieth century, when he says radical political movements led to anarchist bombings and crackdowns on any radical groups. As Mr. Noah says on page 11, "That was when the richest 1 percent accounted for 18 percent of the nation's income. By 2007, their share would balloon to 24 percent..." He noted that the early 20th century was a period also when economic well being came to be associated with income rather than property ownership as a result of the move from an agricultural base (when owning land denoted wealth) to an industrial base. Mr. Noah includes many graphs and charts that make visible the points his statistics are making. One interesting graph (on page 24) shows the extent of economic divergence in this country from 1920 to the present. It is interesting to note that in 1928 income share for the top 1% was also 24%, matching the numbers for 2007. Later chapters examine possible reasons for this divergence, always with an eye to the historical record as a basis for comparison. He looks at the role of race and gender in social economics, at immigration, the educational premium (noting that it keeps shifting upward, so that now a graduate degree gives the edge once associated with an undergraduate degree), offshoring and outsourcing (with a look at which jobs may be safest), partisan politics (with a provocative statement that voting Democrat may better protect against extreme economic divergence),at the role of the demise of labor unions, and finally at the rise of the very rich in other countries as compared to our own. His final two chapters, "Why it Matters" and "What to Do", offer possible prescriptions for moderating the continually widening income gap. He acknowledges that many of them probably won't be taken, but I like the fact that he does offer some solutions. The important thing about a book like this is to shine a spotlight on this issue and to get the conversation started.
**A good book to partner with this one is "Coming Apart: The State of White America, 1960-2010" by Charles Murray. (less)

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Feb 16, 2013 Schnaucl rated it 4 of 5 stars

Shelves: february, library, non-fiction, read_2013

This book is this article expanded into book form.

It was an interesting read, and I did learn some things, like the fact that FDR wanted to institute a maximum wage as well as a minimum wage. But you can get the salient points from the article.

The most important thing I think is missing from his last chapter on how to fix things is the first step, getting the average American to understand how serious the divergence is. Most Americans, when asked, still think the distribution of income is much...more This book is this article expanded into book form.

It was an interesting read, and I did learn some things, like the fact that FDR wanted to institute a maximum wage as well as a minimum wage. But you can get the salient points from the article.

The most important thing I think is missing from his last chapter on how to fix things is the first step, getting the average American to understand how serious the divergence is. Most Americans, when asked, still think the distribution of income is much more equal than it truly is. Most Americans have no idea how limited social and economic upward mobility is. A truly astounding percentage still believe that they'll become rich although you basically have the same odds of winning the lottery. Until you can impress upon people the reality of the situation they'll continue to vote against their own economic best interests. Even people who would benefit from attempts to narrow the divergence in income tend vote against things like an inheritance tax because they think some day they'll be rich and won't want to pay it.

Far too many people believe that if you just work hard you'll get ahead and that the rich don't benefit from government policies. (Ignoring things like corporate welfare or how capital gains are taxed at 15%). I'm not saying that hard work is useless, but there is an abundance of evidence that the gains from productivity increases do not go to workers.

Noah argues that in times past workers saw some benefit because capitalist theory said that workers wouldn't have reason to try hard if they didn't see any positive benefits themselves. He doesn't say that the new view is that workers will work hard whether or not they see direct benefit from gains in productivity because they fear being fired but I think that's what's happening.

I think there also needs to be some incentive for the wealthy to want more income inequality but I don't know what that incentive would be. My theory is that they no longer care if their fellow Americans can buy their products because they can always export them to overseas customers. (less)

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Jun 12, 2012 Mark rated it 5 of 5 stars

I saw this one reviewed in the NY Times. It's a great overview of the growing income disparity in this country. The author does a good job of presenting the data and discussing the key elements. The background is intelligently presented but written for the general reader.

The final chapter presents the author's ideas on how to address this growing issue. Nothing new but articulated well. The steps include:

1. Increase taxes on the rich. Not going to solve the debt crisis or income disparity. But...more

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Jan 22, 2013 Chris Aylott rated it 4 of 5 stars

This seems to be a month for books about impossible conundrums. The Great Divergence digs deep into the increasing gap between poor and rich, looking for causes, effects, and potential solutions.

There are a lot of causes, and the effects are complex. Noah has lots of interesting historical and economic tidbits along the way, which makes the book a fun read. Like climate change, however, the overall situation seems clear: we are in a gilded age of income distribution, a state that has almost alwa...more

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Sep 08, 2012 Jason Klimowicz rated it 4 of 5 stars

In his case to revive the Labor Movement, Noah states:

"[T]here's no possibility that people who lack economic clout as individuals will ever be able to count on their bosses altruism (or even enlightened self-interest) to provide a decent wage. The age of corporate fraternalism is long gone, and it would never have come into being without the existence or threat of strong unions. Businesses treat their least powerful employees as poorly as they can get away with, end of story. Blue-collar worke...more

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Jul 19, 2012 Alexander rated it 4 of 5 stars

Shelves: political-economy, labor

Of the many books published recently about inequality in the United States, this one is the most balanced between readability and rigor. Noah has produced a disciplined, engaging book that systematically addresses each public debate about the causes of income inequality - ideology, technology, immigration, et cetera - then sets to gauging the importance of each cause to the result. By poring through the literature and constantly critiquing both the literature and his assumptions, Noah provides a...more

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Jun 23, 2012 Gábor rated it 4 of 5 stars

If you have the nagging feeling that the American middle class is disappearing, here is the well researched proof that you are not mistaken. The income gap in the USA between the very rich and everybody else is the largest since the Great Depression, although similar divergence is not happening in most other developed countries as observed using the Gini coefficient. Upward mobility also becoming a thing of the past ... Causes and non-causes are discussed, and as usual, a list of few suggestions...more

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Sep 01, 2012 Michael rated it 4 of 5 stars

This is a great overview of income disparity in the United States. Noah covers the subject well, including talking about income in the context of racial minorities' and women's rights. The chapters are all relatively short, conversational but never superficial or argumentative in tone, and highly critical of a system that is undeniably rigged to help those that need it the least. I especially liked that he included the counterarguments that conservatives often put forth, followed by a summary of...more

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Sep 24, 2012 Aaron Arnold rated it 4 of 5 stars

Shelves: economics, politics, read-in-2012

In September 2010, Noah wrote an excellent series of articles for Slate, also titled The Great Divergence, discussing the rise in inequality since the 1970s. This book is a tightly-written and clearly argued full-length extension of those articles, and the extra room permits him to go into a bit more detail about the various factors behind the dramatic changes in the distribution of both wealth and income we've seen, though the book focuses on income. For many years the debate followed a similar...more

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Mar 06, 2013 Savannah rated it 3 of 5 stars

This book is an interesting synthesis of the arguments surrounding the inequality crisis. There are many interesting points and lots of fascinating details. HOWEVER. This book is very dense. It has many numbers, which Noah does not always present in the clearest way. He also makes a few points that don't seem to add up at all.
I would recommend this book to anyone interested in history, economics, or politics. I would not recommend this as an easy or fun read.

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May 28, 2012 Allison rated it 4 of 5 stars

Shelves: npr-recommendations

The author goes through the major causes and consequences of the "great divergence", a term coined by Paul Krugman describing the contraction of the middle class from 1979 until present time. As someone who has a limited economics background, I found the book relatively easy to read and found the graphs provided throughout the chapters helpful. The book should serve as a wake-up call to policy makers and the public who do not see the abyss that the middle class is already drowning under.

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Sep 28, 2012 Tom rated it 5 of 5 stars

Enjoyed this book. The author discusses the problem(for those that think it's a problem) of income inequality in the United States. He talks about the possible causes of income inequality and the history of income inequality throughout the 20th century and early 21th century. Well thought out and well researched. I recommend it to everyone, especially those that do not think income equality is a problem. I highly recommend that Republicans that are in the low, middle, or upper middle income brac...more

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Oct 02, 2012 Peter Zoll rated it 4 of 5 stars

Hard-hitting – if very repetitive – leftish look at the reasons behind the divergence of income distribution during the last 20 years.

The facts are there to be seen; Noah is far less shrill than Ferguson in sorting through them.

Well worth the read.

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Jun 30, 2012 Marie rated it 5 of 5 stars

I'm biased b/c not only is Tim a good friend AND I happen to agree with his views, but the book is a good pulling together of all the economics stuff out there that can answer one of our most compelling social problems in very lay person terms. Read it!

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Apr 22, 2013 Ted rated it 3 of 5 stars

Starts an important discussion, but relies too much on statistics, rather than stories of Americans who've seen their wealth and well-being decline. I thought I was going to scream if I read one more study by Harvard economists.

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Jan 03, 2013 Joe Keene rated it 4 of 5 stars

Nice concise book that lays out its arguments well. I enjoyed the chapter on education and the history of education in America. A quick read that one can finish in one day, highly recommended.

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Jun 15, 2012 Edward Sullivan rated it 3 of 5 stars

Shelves: adult-nonfiction

I found this book most interesting for Noah's discussions of economic history to put contemporary issues in context. Most impressive is the argument he presents about the direct correlation between the rise of strong labor unions and the growth of the middle class, and the obvious relationship between the decline of labor unions and the shrinking of the middle class.

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Jun 05, 2012 Babette rated it 4 of 5 stars

I highly recommend this to anyone who, like me, wants to understand the economic developments of the last 30 years.

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Nov 27, 2012 Linda rated it 3 of 5 stars

Shelves: non-fiction

another is the litany of books about where we are now as a country that is not particularly comforting!

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Nov 16, 2012 Jordan Greenhall added it

Shelves: emancipation-party-reading-list

Review of the research on increased inequality. Especially strong on reductions in social mobility.

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Aug 16, 2012 Eddie rated it 3 of 5 stars

Really interesting, the stats and numbers could be a bit much for a non-stats person like myself.

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