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

Summary

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.

"The director of economic policy at the Center for American Progress argues that it is time to mount a political challenge to the economic theories—namely, supply-side, or trickle-down economics—that have provided cover for the unparalleled growth in inequality over the past three decades. … A dramatic and clearly delineated outline of 'how the stage has been set for transformative political conflict.'"—Kirkus