The End of Affluence: The Causes and Consequences of America's Economic Dilemma

by Jeffrey Madrick

Sure to spark controversy, this book, reminiscent of the bestsellers Politics of Rich and Poor and Day of Reckoning, tells the real truth about America's long term economic decline--what caused it, what it has done to Americans, and what Americans should do about it.

Genres: Economics

223 pages, Hardcover

First published September 19, 1995

About the author

JEFF MADRICK is a regular contributor to The New York Review of Books, and a former economics columnist for The New York Times. He is director of the Bernard L. Schwartz Rediscovering Government Initiative at the Century Foundation, where he is a Senior Fellow; editor of Challenge Magazine; and visiting professor of humanities at The Cooper Union.

He has written for many other publications over the years, including The Washington Post, The Los Angeles Times, Institutional Investor, The Nation, American Prospect, The Boston Globe, Newsday, and the business, op-ed, and the Sunday magazine sections of The New York Times.

Reviews

[Leanne Ellis · Rating 5 out of 5]

Clear explanation for the economic problems (and subsequent social problems) of today. So prescient!
Two notes:

1. US companies put profit before anything else and don't invest in their workers or resources.

2. The economic policies of the US since the early 1970s have benefited the rich and left the rest of us to fight over the economic scraps!

[Nunya · Rating 4 out of 5]

An interesting and well-founded take on America’s evolving economic situation, discussing how our history allowed us to enjoy a level of affluence that will likely never again exist due to our changed circumstances.

[Yuichiro · Rating 4 out of 5]

Focus of this book is the rate of growth of US Economy. From 1870 to 1973, US economy grew at rate of 3.4% (excluding inflation) and 2.3% from 1973 to 1993. Much of US optimism about economic outlook, even today, has been forged in time of great economic expansion. Much of the issues facing the nation today can be traced back to slowing economic expansion. Though the author does not have answers to issues on social security, medicare/medicaid, and deficit, this book will make readers aware (and begin to criticize) economic policies created with optimistic view of the US economy when what we need to do is accept the slowing economic growth and devise policies accordingly.

[James · Rating 3 out of 5]

This is what I referred to as my "economic thriller". It talks about America's economic paradigm, and how it has changed over the past 30-50 years.