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The Servant Economy: Where America's Elite is Sending the Middle Class

3.84  ·  Rating details ·  107 ratings  ·  19 reviews
Renowned economist Jeff Faux explains why neither party's leaders have a plan to remedy America's unemployment, inequality, or long economic slideAmerica's political and economic elite spent so long making such terrible decisions that they caused the collapse of 2008. So how can they continue down the same road? The simple answer, that no in charge one wants to publicly ac ...more
Hardcover, 304 pages
Published June 1st 2012 by Wiley (first published March 1st 2012)
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Jul 29, 2012 rated it it was amazing
Shelves: adult-nonfiction
If you are trying to avoid depressing fare, then don't open this book because it is not an optimistic read. On the other hand, if you want to walk into the future "eyes wide-open", brace yourself and plunge in. The author, founder of the Economic Policy Institute, makes his case relentlessly. He sets the stage by describing the period just after World War II and up to 1980 as an unusual period when a sort of cushion existed for the middle class. Sure, the "Greatest Generation" grew up during the ...more
Apr 02, 2014 rated it really liked it
A very revealing summary of Reganomics and the current political and economic situation in the US. It further exposes the true goals of the Republican party, but not without throwing dirt in the faces of Democrats either -- something I've always wanted to see in a book on the subject. Quite pessimistic, overall, as it should be. We, as a country, are in a downward spiral, and the oligarchy is the driving turbine behind it.

There are some things that would have been great, if included in this boo
George Wallace
Apr 05, 2013 rated it it was amazing
Very thought provoking. Tells it true and like it is. The US is well on the way to 2nd world country status. With third world status waiting just around the corner. Life is already cheap. The vast majority of our population is sliding to poverty and servant status. We are back to dog-eat-dog competition and the devil can have the losers.
Oct 04, 2020 rated it really liked it
Two takeaways in Jeff Faux's excellent book on the economy. First, it covers the history of governmental policy making since FDR and its impact on the middle class and how it created a governing class of wealthy individuals and institutions. This governing class is now firmly in control of our lives and there's virtually no hope for the American middle class as the game is solidly rigged to maintain the political power and increase the wealth disparity that exists in our country. No chance. We'r ...more
May 03, 2021 rated it did not like it
Shelves: economics, politics
This is the worst book I’ve read in ten years. I stopped about 30 pages from the end after being browbeaten by moaning and complaining for hours on end. I’m actually considering throwing this book away, which is an incredible statement coming from me considering I’ve got literally hundreds of well read hardcovers in my library. The best thing about this book is that the shiny gold dustpan on the cover looks nice under a glossy Brodart Mylar over-jacket. Maybe I’ll use a dustpan like that to swee ...more
Aug 13, 2020 rated it it was amazing
I wish that I'd read earlier. ...more
Jul 31, 2018 rated it really liked it
Really 4.5 stars. This is brilliant book in many, many ways. I would love to buy the author a beer, or in his case a nice Pinot and argue/ discuss this book with him. The work is somewhat marred by its Leftish, unions-are-awesome bias. Discounting that filter though and ignoring the snappy “all Capitalists/Republicans are evil", one- liners, leaves a wonderful book. As a work written before the election of 2016, it is truly remarkable. Herein one can clearly discern the rise of both Sanders and ...more
Cynthia Archer
Aug 16, 2012 rated it really liked it  ·  review of another edition
Although the author paints a depressing and seemingly hopeless case for a renewed economic future for the U.S., this was still an eye opening book. "The Servant Economy" is written by a global economist who in 2006 predicted the recent economic crisis. As such, he has studied all the factors that relate to America's economic position in the world both past and present.
I found the first part of the book which dealt with the history of economics in the U.S. to be fascinating. Not only is it inte
Justin Espe
Mar 08, 2015 rated it it was amazing
The book that I read is titled The Servant Economy: Where America's Elite is Sending the Middle Class by Geoffrey P. Faux. The author's purpose in writing this book is to explain how some policies that are going through government is helping the wealthy American's but in the process is causing the middle class workers to work more for less. He wants to reveal to everyone that reads his book that the 'haves' in America are hurting the 'have nots' by not having heftier taxes on all the money that ...more
Winston Kotzan
Feb 02, 2013 rated it did not like it
I picked up this book after hearing a segment of Jeff Faux's interview with Diane Rehm on NPR. He made some interesting statements about the state of the labor market and its impact on young career building people, so I thought the book he was promoting would contains some insightful thoughts on the economic problems our nation faces today. This book is actually much the opposite of insightful. It is a long political rant full of despair.

The author gets on the soapbox from page 1 and does not st
Terry Earley
Jul 18, 2012 rated it really liked it
Heard part of Diane Rehm interview:

Faux paints a very dreary picture of our economic future. As the income and capital gaps continue to widen between the ultra-rich and the lower classes, we must expect more disruption, not less. When we hear economic proposes for our future which have already failed in the past, I have to shudder. Faux reminds us that political "wooden-headedness" will always bring the same result.

His chapter "Flickering Hope: Schools, Tr
Ben Carrick
Oct 11, 2014 rated it it was amazing
Best non-fiction book I ever read. I don't read many books but it was so great you just have to read for yourself. Economics, History and Politics intertwined as Faux takes a look back through the decades of prosperity and lately highlights the reasons why America is on the decline when it comes to the global economy. Favorite chapter was highlighting the events that lead to the market crash and the crash itself. I don't even agree with some of it as he says Democrats will be better off running ...more
Daniel Parker
Excellent book that covers the history of executive decisionmaking since FDR and its support or impact on the middle class. It exposes the fault in some preconceived notions on several presidents and their decisions and ties them together in a seamless stream of history to show how we got where we are. This should be required reading for those interested in public policy and how it affects, well, the public. There is a big difference between what gets sold and what gets bought. And we have bough ...more
Jan 16, 2013 rated it really liked it
This was a fascinating book, well-researched. Grim predictions about where our country is headed but not hard to believe. The author is left-leaning but doesn't spare anyone. I saw a few typos which was somewhat annoying; they seemed to be the result of using spell-check. Also someone had made pencil marks in the book-argh!! I do recommend this to everyone. I think it's far less likely that anything will change unless Americans become more aware of what's really going on in our government. ...more
Sanjiv Sarwate
May 01, 2013 rated it liked it
Most of the book is a decently-written summary of economic and fiscal policy in the New Deal and after. The actual stuff about the "servant economy" doesn't really come in until the end, as part of a parade of future horribles that actually seemed so hyperbolic as to detract from the points the author was trying to make. It was a decent read, but not something that anyone who has read Krugman or Stiglitz hasn't read before. ...more
Oct 03, 2012 rated it it was amazing
As another review said, "Amazing and depressing." However, ignoring fundamental truths about what is happening to the United States at the hands of the top 1% and the multinats (abbr. for multi-nationals, a term often used in Kim Stanley Robinson's Mars trilogy) won't make things any better for us or our children. ...more
Thomas Stevenson
Jul 18, 2012 rated it liked it
We all know the economy is in a rut. Faux tries to explain not only how we got there but what this will mean for the survivors. The future looks pretty bleak in these pages. At least as the author sees it, we've done this to ourselves. ...more
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