Hollowed Out

Why the Economy Doesn't Work without a Strong Middle Class

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Conditions
Cover of the book Hollowed Out by David Madland, University of California Press
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Author: David Madland ISBN: 9780520961708
Publisher: University of California Press Publication: June 24, 2015
Imprint: University of California Press Language: English
Author: David Madland
ISBN: 9780520961708
Publisher: University of California Press
Publication: June 24, 2015
Imprint: University of California Press
Language: English

For the past several decades, politicians and economists thought that high levels of inequality were good for the economy. But because America’s middle class is now so weak, the US economy suffers from the kinds of problems that plague less-developed countries. As Hollowed Out explains, to have strong, sustainable growth, the economy needs to work for everyone and expand from the middle out. This new thinking has the potential to supplant trickle-down economics—the theory that was so wrong about inequality and our economy—and shape economic policymaking for generations.

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For the past several decades, politicians and economists thought that high levels of inequality were good for the economy. But because America’s middle class is now so weak, the US economy suffers from the kinds of problems that plague less-developed countries. As Hollowed Out explains, to have strong, sustainable growth, the economy needs to work for everyone and expand from the middle out. This new thinking has the potential to supplant trickle-down economics—the theory that was so wrong about inequality and our economy—and shape economic policymaking for generations.

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