Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer

Rigged How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer There has been an enormous upward redistribution of income in the United States in the last four decades In his most recent book Baker shows that this upward redistribution was not the result of glob

  • Title: Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer
  • Author: Dean Baker
  • ISBN: 9780692793367
  • Page: 214
  • Format: Paperback
  • There has been an enormous upward redistribution of income in the United States in the last four decades In his most recent book, Baker shows that this upward redistribution was not the result of globalization and the natural workings of the market Rather, it was the result of conscious policies that were designed to put downward pressure on the wages of ordinary workersThere has been an enormous upward redistribution of income in the United States in the last four decades In his most recent book, Baker shows that this upward redistribution was not the result of globalization and the natural workings of the market Rather, it was the result of conscious policies that were designed to put downward pressure on the wages of ordinary workers while protecting and enhancing the incomes of those at the top Baker explains how rules on trade, patents, copyrights, corporate governance, and macroeconomic policy were rigged to make income flow upward.

    One thought on “Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer”

    1. Do I agree with many of Baker's points? Yes: there is no such thing as a neutral, natural market outcome; economic outcomes are always choices made by human policy-makers just as much as they are by human producers and consumers. Would less inequality be nice? Yes. Is this a good book? Not particularly. It is clearly written, but also written with rather too heavy a hand; Baker's statistics speak for themselves, for the most part, but his rhetoric suggests some grand upper middle-class conspirac [...]

    2. Markets aren't something that exist independent of property, and property isn't something that exists independent of government. Everything the government does affects the market. It's naive to think we'll "leave it alone" as it doesn't exist in a vacuum. It's not some rock that can be independent of our policies, and it's not something intrinsically good or bad to be reigned in or left alone. As the author states at the end, this is the real world. Some utopian hypothetical ideal of anarchy asi [...]

    3. Informative but extremely dry--what Dean Baker has to say is extremely important, but it isn't as easy to sail through as some other nonfiction of the same topic, but perhaps this was because I know little about economics, or that for some reason it feels as if it's only half a solution to solve capitalism with more (different) capitalism.

    4. In clear prose and rigorous use of essential economic principles, this book cuts through the fog of baffelgab and biases in mainstream reporting and editorializing to spell out just how today's market players mislead us, pilfer our pockets and laugh all the way to their banks/secrecy jurisdictions. The book is free. It can be downloaded from: deanbaker/books/riggedm

    5. Dean Baker is a somewhat perplexing economist. On one hand, his policy and analysis of policy is brilliant. He strips away much of the hypocrisy of neoliberal and conservative economics and exposes the way they reinforce abd continue the upward flow of capital to the richest members of society at the expense of everyone elese. With these issues in mind, He makes policy suggestions that seek to correct these policies and allow for capital to flow in the direction of the rest of society.On the oth [...]

    6. Was ok, too much of the author makes a point then gives example or statistics and not nearly enough of a narrative. Sometimes a little more story brings the point home better. If you're curious though, in the authors words, "the point of this book is that the distribution of income can be hugely altered by restructuring the market to produce different outcomes."

    7. This book presents a series of economic policy changes which would tip the United States away from the rich getting richer and the poor getting poorer. It's an eye-opener for those who think the current system is fair and unbiased, and are unaware that U.S. laws are skewed in favor of corporations and the wealthy.The only problem I have with this book is its insistence that merely changing the laws back to what they once were will fix everything. There's no expressed understanding that so long a [...]

    8. Informative. Eye popping information and solid "out of the box" thinking for problem solving. Great read for the professional and the layman.

    9. One of the most amazing things about the time we live in is that why many of the "average" citizens have come to endorse the idea that "the system" has left them behind, it is remarkable how little they have connected the dots between the operation of the current structure of capitalism -- with its obvious bias towards the already rich -- with their fate.Instead, they have reacted to the nationalist populist rhetoric (almost entirely empty of substance or of specific policy proposals) that blame [...]

    10. The fundamental point of this book is that there is no such thing as a neutral market outcome because all markets are shaped by government policy. Deregulation is just a choice of one set of policies over another. The ones that we have chosen in the US over the past few decades have undeniably caused a huge growth on income inequality, which Baker argues, I think correctly, has had a adverse impact on overall prosperity. Although I have personally been a beneficiary of protectionist practices in [...]

    11. On one level, I’m glad that Baker makes his work freely available. Anyone can download his last three books that I know of off the CPER website. I bought the hard copy because I hate trees so much. But on another level, the fact that he doesn’t push his work out through a traditional publisher makes it so that there’s no publicity push for his work and potential readers aren’t made aware of his work.And the thing is that Baker needs to be read. What makes Baker unique is his look at glob [...]

    12. Dean Baker is unique among progressive economists in that he challenges deeply-held beliefs about market outcomes. Before you start in with wondering how to design a tax and transfer system that appropriately expands opportunity and fights poverty, use this book as a companion, to tear down the structures that create inequality before one dollar of tax ever goes into the federal Treasury.

    13. While the prevailing idea seems to be "Tax the Rich" there are many other ways to deal with the problem of income inequality. Baker explores several and makes compelling cases.

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