Created Unequal

The Crisis in American Pay

James K. Galbraith

Created Unequal

James K. Galbraith

378 pages | 6 x 9-1/4 | © 1998, 2000
Paper $28.00 ISBN: 9780226278797 Published December 2000 Not for sale in the British Commonwealth except Canada
The boom of the U.S. economy in the late 1990s suggests that Americans are better off than they were a decade ago, but this is not true across the board and the reason, as James Galbraith explains, is wage inequality. He contends that inequality is not the result of impersonal market forces but of specific government decisions and the poor economic performance they created. Featuring a new afterword on wage shifts since 1994, Created Unequal is a rousing book that reminds us we can reclaim our country through economic understanding, commonsense policy, and political action.

"Created Unequal is not light reading, but Galbraith’s elegant arguments, passionate exposition, and profound conclusions make it worth the trouble. . . . [Galbraith] remind[s] us that the economy is and ought to be run by humans, not humans by the economy."—Joanna Ciulla, Los Angeles Times Book Review

"Created Unequal is a lucid and wise explanation of why America seems to be prospering while most Americans aren’t. James Galbraith takes steady aim at a variety of widely accepted economic myths and hits most of them dead center. This book will tell you a lot about the way your economic world really works."—Jeff Faux, President of the Economic Policy Institute

"[A] brilliant and iconoclastic examination of the major social trend of our time."—Michael Lind, Washington Monthly

Part One: Ideas
1. The Crisis of Wages and Transfers
2. The Skill Fallacy
3. Monopoly Power
4. The Concept of the Wage Structure
Part Two: Evidence
5. Instability and Stagnation
6. The Three-Level Economy
7. The Patterns of Industrial Change
8. Inequality, Unemployment, Inflation, and Growth
9. Service Wages and the Investment Cycle
Part Three: Heresies
10. The NAIRU Trap
11. The New Victorians
12. Liberals Stuck on the Supply Side
Part Four: Policies
13. Interest Rates and the Central Bank
14. Inflation Control Without Unemployment
15. International Full Employment
16. The Fate of the Market
Technical Appendixes to Chapters 2, 6, 7, and 8
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