Why Consumer Culture is Good for the Economy, the Environment, and Your Soul
In his provocative new book, historian James Livingstonauthor of the classic Origins of the Federal Reserve Systembreaks from the consensus to argue that underconsumption caused the current crisis and will prolong it. By viewing the Great Recession through the prism of the Great Depression, Livingston proves that private investment is not the engine of growth we assume it to be. Tax cuts for business are therefore a recipe for disaster. If our goal is to reproduce the economic growth of the postwar era, we need a redistribution of income that reduces corporate profits, raises wages, and promotes consumer spending.
Title: Against Thrift
Author: James Livingston