Why does the modern economy consist of two tracks: a fast one for the super-rich and a stalled one for everyone else? What decisions led to this split three decades ago, and were their goals realised? What is the cost of a two-track economy? Have the real solutions to the 2008-9 crisis been missed? This ground-breaking book, based on years of research, seeks to answer these questions and provide the hard evidence: - for the economic case for dismantling the economy for the super-rich; - that deregulation failed to deliver innovation and economic revival; - for new policies that avoid the looming permanent recession. At a time when top investors such as Warren Buffett call for an end to the coddling of billionaires, this urgent, provocative book provides a radical new way of thinking for ending the economic deadlock.
The Cost of Inequality
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'Compelling.... the central arguments of Lansley's book - and the solutions he proposes - deserve a wide hearing and an urgent place on the policy agenda.' Times Higher Education Supplement 'Stewart Lansley's The Cost of Inequality exposes the truth about the economic catastrophe that afflicts the western world: neoliberalism has created consumer societies in which millions are so poor that they cannot afford to consume.' Peter Wilby - Book of the Year New Statesman 'Essential reading for anyone who wants to understand the reasons behind the astonishing growth in inequality in the UK and US over the past 30 years and why it helped to bring about the unprecedented economic crisis we are all now facing. Readable, well-argued and a devastating critique of neo-liberal laissez-faire economics that has allowed the growth of a new generation of super-rich Robber Barrons by economist and financial journalist Stewart Lansley.' Nial Cooper, Church Action on Poverty 'Lansley's new work belongs on every people's library shelf in an Occupy movement encampment. Your bookshelf, too.' Too Much --1
About the Author
Stewart Lansley is an economist, financial journalist and award-winning TV producer. A research fellow at the University of Bristol, he is the author of Poor Britain (with Joanna Mack), Rich Britain and a biography of Philip Green. He has written for academic and specialist journals as well as the Guardian, Independent and Sunday Times, and has held academic posts at the National Institute of Economic and Social Research and the Universities of Reading and Brunel. He lives in London.
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Most Helpful Customer Reviews
22 of 22 people found the following review helpful
Format:Paperback
This is a must read book. Beautifully written, the author has made economics enjoyable and easy to understand. The book demonstrates that excessive profits over wages and vice-versa will result in an imbalance in the fragile working of the western economic model and lead to the dire consequences of the 1930s, the 1970s and more recently since 2007. The book has many examples of how the greedy 1% seek to invest in high risk financial instruments, despite their wealth generating the highly volatile speculation which the City of London facilitates to the detriment of the other 99%. Whether you agree of disagree with the arguments in this book, it is a great read and highly recommended to anybody who is at all interested in the current state of world economics.
6 of 6 people found the following review helpful
Format:Paperback|Amazon Verified Purchase
This book isn't as 'high brow' as I had feared and explains quite clearly how and why the economy is up and down like a yoyo. It also paints a very grim picture of the greed of those at the top - and the outcome of this greed on those at the bottom. That those with so much can still want so much more is very sad, especially when to get it the ordinary working person is sacrificed. I now understand what hostile take-overs are and why jobs are 'shed' in the name of profit. This book won't make me an economist, but I now have a better grasp of what goes on in the world of big business.
15 of 16 people found the following review helpful
By S. Hare
Format:Paperback|Amazon Verified Purchase
Usually progressives don't like free markets because, they say, they are often unfair to the weak and cause high degrees of social inequality. Free-marketeers retort there's no other way to efficiency, so everybody is due to become better off at the end of the story. In this readable book British economist Stewart Lansley explores and summarizes a new set of ideas: too much inequality leads to heavy losses of efficiency, so in the end it is harmful to all. Profits and very high incomes that outstrip productive investment opportunities lead to an overgrowth of finance; and financial instability now risks throttling productive capitalism. Lansley is no enemy of free markets; he only wants to show they work better if carefully regulated towards fairness.
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Most Recent Customer Reviews
4.0 out of 5 stars
Deregulation and excesive greed is bad for capitalism
Well argued case for ending the disparaging gap between rich and poor, not on the political grounds of socialistic ideology, but from a capitalistic point of view. Read more
Published 1 month ago by Neil Aldridge
5.0 out of 5 stars
great book
For the reader who wants some perspective on the growth of inequality in the UK---and in particular, how inequality affects Britain's growth prospects---this is an excellent book. Read more
Published 1 month ago by G. W. Irvin
5.0 out of 5 stars
Excellent account
This is a very clear explanation of the reasons for the financial crisis, and it has made a number of factors that played a part and their underlying significance clear to me. Read more
Published 2 months ago by Ellen
4.0 out of 5 stars
Continuing cost of inequality
Chock a block full of statistics backing a logical & informed argument for economic reform of the global monetary system of Capitalism. Read more
Published 2 months ago by Chris R
5.0 out of 5 stars
Enjoyed
Excellent read. Would recommend everyone reads it. Explained so much about the way things are. Very good book on subject.
Published 2 months ago by Bebe
5.0 out of 5 stars
Cost of Inequality
Should be made compulsory reading for all politicians, greedy CEO's and fat cat bankers. A complete condemnation of the economic policy of making the rich super rich at the expense... Read more
Published 2 months ago by Grizzly Adams
5.0 out of 5 stars
Superb use of facts and figures to tell the undeniable
This book is one of the first I've read on economics that seems to make real sense. The author has a clear understanding of the issues facing capitalist societies. Read more
Published 3 months ago by Craig B Orchard
5.0 out of 5 stars
The truth
Brilliant book unfortunately people are too busy playing x box and buying on the cheap from mega corporations that don't pay their tax to be angry and do something about it
Published 3 months ago by jasked
5.0 out of 5 stars
Read this and you will understand contemporary Britain.
This book has put into words exactly what is wrong with our country today. It explains why we are a deeply unjust society and why unless we get a government with the will to roll... Read more
Published 3 months ago by Molly
5.0 out of 5 stars
Harsh reality on monetary policy and people's blindness to it.
This book, and Masters of Nothing, by Matthew Hancox and Nadhim Zahawi, reviewed elsewhere, should be made compulsory reading for all MPs, without exception; and for all business... Read more
Published 5 months ago by Val Gaize
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