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Requiem for the American Dream: The Principles of Concentrated Wealth and Power
Free Ebook Requiem for the American Dream: The Principles of Concentrated Wealth and Power
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Audible Audiobook
Listening Length: 3 hours and 54 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Recorded Books
Audible.com Release Date: March 28, 2017
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Language: English, English
ASIN: B06XC7BGP8
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For decades, economic scholars have commented on the dangers inherent in the growing concentration of wealth in Western society. Though misleadingly referred to as “income inequality†in the new media, this critically important topic actively entered public debate in 2011 with Occupy Wall Street. Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman and others added to the debate in the years that followed. Then, Senator Bernie Sanders flogged the issue at every opportunity in his presidential race in 2016, giving the issue further prominence. If there’s anyone alive and alert in America today who isn’t aware that the concentration of wealth is a growing problem for our society, I’d be surprised.Few contemporary American observers have a clearer-headed understanding of the issue and its causes than Noam Chomsky. Chomsky, born in 1928, is widely regarded as the father of modern linguistics and one of the founders of the field of cognitive science. He’s also well known—some might say notorious—as an activist and social commentator. He has written dozens of books on the technical aspects of his academic work, and even more on politics. But his latest, Requiem for the American Dream: The 10 Principles of Concentration of Wealth & Power, is not a book he wrote.Instead, the book was distilled from a 2015 film of the same name, a documentary patched together using interviews filmed over four years with Chomsky. Unlike the books he has written, most of which are slow going and many (the texts on linguistics, impenetrable), Requiem consists entirely of transcriptions from the spoken word. The style is conversational and uses only a bare minimum of jargon. It’s a quick read, and an enlightening one.As Chomsky notes, “Power has become so concentrated that not only are the banks ‘too big to fail,’ but as one economist put it, they are also ‘too big to jail.'†Given our experience over the past decade, it would be difficult to argue with that. And anyone who closely follows events in American society today would say the same about this observation by Chomsky: “the rich and powerful, they don’t want a capitalist system. They want to be able to run to the ‘nanny state’ as soon as they’re in trouble, and get bailed out by the taxpayer.†If the American people fully understood how much tax money is funneled to corporations as subsidies, and how much the tax code has been distorted to favor them and their shareholders, they would storm Washington DC by the millions.In Requiem, Chomsky presents ten “principles†that together explain how the massive concentration of wealth in America today has come about. (His analysis applies to other wealthy countries as well, but it fits the U.S. best.) His argument is best summed up as what he calls a vicious circle: “Concentration of wealth yields concentration of power, particularly so as the cost of elections skyrockets, which forces the political parties even more deeply into the pockets of major corporations.â€The 10 principles underlying this reality, as Chomsky sees them, are: Reduce Democracy Shape Ideology Redesign the Economy Shift the Burden Attack Solidarity Run the Regulators Engineer Elections Keep the Rabble in Line Manufacture Consent Marginalize the PopulationI’ve never seen a more comprehensive or economical explanation of how wealth has come to be so concentrated in so few hands in the U.S. today. Most of these principles are self-evident at a glance. Only two may require explanation. Chomsky uses the word “solidarity†as a synonym for empathy, caring for others, or “concern for your fellow man,†to cite another archaic expression. His Principle #8, “Keep the Rabble in Line,†refers to the coordinated 45-year effort by Big Business and Right-Wing ideologues to destroy the labor movement.The editors of Requiem—Peter Hutchison, Kelly Nyks, and Jared P. Scott—have interspersed short passages from other sources among the 10 Principles. The sources range over the centuries: from Aristotle and James Madison to Harry Truman and Martin Luther King Jr. These short excerpts from classic documents, speeches, press reports, and social commentaries add depth to the book’s presentation and enhance understanding of Chomsky’s message.Chomsky’s views have often been regarded as extreme. Certainly, he is vilified by commentators and scholars on the Right. But if you read Requiem for the American Dream, I think you’ll find his reading of history is accurate, his logic is sound, and his view of America today is—sadly—right on target.
Clear summary of the fundamentals and history of the mechanisms enabling and sustaining concentration of power to the few with wealth.Included are excerpts of related writings supporting the topics from a variety of sources: Adam Smith, James Madison, Aristotle, Alan Greenspan, Citigroup document, Standard and Poors research, John Dewey, etc. The related material gives you a hint that what Chomsky is writing about is not far fetched but grounded in a rich history of ideas about how the world should work.
Chomsky's elaboration of how we got to now and the techniques and strategies of the wealthy ruling elite is delivered in a succinct and easy-to-understand text. Essential reading for those trying to make real sense of the world today or looking for ways to take control back from the few and give a voice to the masses.
Excellent read that should appeal to all reading levels and offer insight into how American has evolved into a two class society ruled by plutocrats. He details the evolution of business and markets and the role our government plays in allowing a powerful few to rule the masses.America has gone from being a manufacturing economy with small finance sector to being a finance economy with a small manufacturing base. One thing that has always boggled my mind is how people constantly vote against their own interests, especially on the right, but also on the left as well. Well Noam explains it very eloquently. The parties are dominated by special interest and business lobbies shape policy and our political talking points.Which brings me to another point which he outlines very well. The current Republican party would not have been a party at all in 1971. They would be off either party’s charts in 1971. An extremists group that wouldn’t have even make a blip on the political radar. Nixon policies on the other hand, were far left of the modern Democrat.Today we have a majority of Democrats that consider themselves centrists but would have been Republicans in 1971 by most policies. Call them Reagan Democrats or Rockefeller Republicans, but it’s resulted in policy paralysis for the working and poor and accelerated the wealth of the masters of society and business.Noam keeps the paragraphs short, tries not to use too many 5 cent words, and assembled a lot of great observations and information in 10 short paragraphs. I have yet to watch the movie, but the book cut straight to the heart of the matter. He doesn’t pull any punches and he offers the straight scoop on wealth concentration, social imbalance and the impacts it has on our society.The positive thing I take from the book is that this is a political problem, which means there is a political solution. The majority of Americans agree on a lot of principal matters that would result in a lot more prosperous healthy lives for the most of society. When things get this far out of balance, historically the public has pressured the governments and businesses to make concessions such as in the New Deal. It's up to us to organize and sustain grass roots pressure to shape policy.We the people, can overcome the power of money but we need to act urgently and work together for grass roots change. Sustained pressure from a small but persistent and patient group of citizens. That’s what Noam emphasizes has resulted in the freedoms we have won in the past.
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