Catalogue

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The global class war : how America's bipartisan elite lost our future- and what it will take to win it back /
Jeff Faux.
imprint
Hoboken, N.J. : Wiley, c2006.
description
xii, 292 p.
ISBN
0471697613 (cloth), 9780471697619 (cloth)
format(s)
Book
Holdings
More Details
imprint
Hoboken, N.J. : Wiley, c2006.
isbn
0471697613 (cloth)
9780471697619 (cloth)
catalogue key
5825860
 
Includes bibliographical references and index.
A Look Inside
Excerpts
Flap Copy
Conventional wisdom portrays globalization as competition among countries--America versus Mexico or China or Europe. But today the rich and powerful of every nation have more in common with each other than they do with their fellow citizens who must work for a living. What's good for General Motors--or Microsoft, Exxon, or Wal-Mart--is no longer good for America. In The Global Class War, Jeff Faux argues that the politics of the new world market is dominated by a virtual "Party of Davos," the globe-trotting network of corporate investors and CEOs, and the politicians and journalists who work on their behalf. Clinton and his treasury secretary, Robert Rubin, and Bush and his defense secretary, Donald Rumsfeld, may use different strategies, but they promote the same globalization agenda in which the benefits go to America's corporate investors--and the costs are paid by ordinary Americans in outsourced jobs, military casualties, and an unsustainable foreign debt. Faux shows how NAFTA, the WTO, and similar "free-trade" agreements are really deals among the global elite to rip up the social contract that allows the benefits of capitalism to be broadly shared. As the first secretary-general of the WTO admitted, they make up "the constitution of a single global economy." Its Bill of Rights protects just one citizen--the large transnational corporation. Global corporations with American names are profitable, but the competitiveness of the people, businesses, and communities rooted in the U.S. economy is relentlessly deteriorating. America's workers, from the unskilled to highly educated design engineers and research scientists, have been set adrift in a sea of dog-eat-dog competitionthat guarantees a substantial drop in their living standards. The illusion of prosperity has been maintained by the biggest borrowing binge in history, but we are rushing toward a day of painful reckoning. Why aren't American business elites worried? Because their competitiveness is no longer tied to America's. To escape this trap, Faux makes a powerful case for new cross-border politics to support the democratic redesign of globalization, beginning with the now integrated economies of Canada, Mexico, and the United States. Both in the way this book defines globalization's core problem and in its vision of how to resolve it, The Global Class War will affect political debate in America and the world for years to come.
Flap Copy
Conventional wisdom portrays globalization as competition among countries-America versus Mexico or China or Europe. But today the rich and powerful of every nation have more in common with each other than they do with their fellow citizens who must work for a living. What's good for General Motors-or Microsoft, Exxon, or Wal-Mart-is no longer good for America. In The Global Class War, Jeff Faux argues that the politics of the new world market is dominated by a virtual "Party of Davos," the globe-trotting network of corporate investors and CEOs, and the politicians and journalists who work on their behalf. Clinton and his treasury secretary, Robert Rubin, and Bush and his defense secretary, Donald Rumsfeld, may use different strategies, but they promote the same globalization agenda in which the benefits go to America's corporate investors-and the costs are paid by ordinary Americans in outsourced jobs, military casualties, and an unsustainable foreign debt. Faux shows how NAFTA, the WTO, and similar "free-trade" agreements are really deals among the global elite to rip up the social contract that allows the benefits of capitalism to be broadly shared. As the first secretary-general of the WTO admitted, they make up "the constitution of a single global economy." Its Bill of Rights protects just one citizen-the large transnational corporation. Global corporations with American names are profitable, but the competitiveness of the people, businesses, and communities rooted in the U.S. economy is relentlessly deteriorating. America's workers, from the unskilled to highly educated design engineers and research scientists, have been set adrift in a sea of dog-eat-dog competition that guarantees a substantial drop in their living standards. The illusion of prosperity has been maintained by the biggest borrowing binge in history, but we are rushing toward a day of painful reckoning. Why aren't American business elites worried? Because their competitiveness is no longer tied to America's. To escape this trap, Faux makes a powerful case for new cross-border politics to support the democratic redesign of globalization, beginning with the now integrated economies of Canada, Mexico, and the United States. Both in the way this book defines globalization's core problem and in its vision of how to resolve it, The Global Class War will affect political debate in America and the world for years to come.
Full Text Reviews
Appeared in Choice on 2006-06-01:
While no friend of globalization in general, Faux (founder and former president of the Economic Policy Institute, contributor to the public press) targets for criticism the 1993 North American Free Trade Agreement between Canada, Mexico, and the US. According to his interpretation, NAFTA has failed to deliver outcomes promised at the time of its inception. Instead, increased international trade among Canada, Mexico, and the US has lowered the standard of living of many US citizens, increased income inequality in the US, impoverished Mexican small farmers, eroded public social spending in Canada, and reduced worker and environmental protections in all three countries. The benefits, he contends, are confined to transnational corporations and the rich and powerful individuals who run them and who determine government policies. Much of the book is given over to describing incidents that show how the privileged class identifies more with the interests of their counterparts in other countries than with their national origin. Faux concludes by prescribing steps ordinary citizens in the three countries must take to restore control over their economic futures. A provocative addition to the debate on globalization. ^BSumming Up: Recommended. Comprehensive collections serving general readers; students, upper-division undergraduate and up; and professionals. E. L. Whalen formerly, Clark College
Appeared in Publishers Weekly on 2005-11-07:
Why, in 1993, did the newly elected Bill Clinton pass the North American Free Trade Agreement, a pro-business measure invented by his political adversaries and opposed by his allies in labor and the environment? The answer, according to Faux, is that Clinton was less devoted to his base than to his fellow elites, rewarding their donations to the Democratic Party with access to Mexico's cheap labor and lax environmental standards. With a fluid grasp of both history and economics, Faux, founder of the Economic Policy Institute, critiques both Democrats and Republicans for protecting transnational corporations "while abandoning the rest of us to an unregulated, and therefore brutal and merciless, global market." Faux describes how free trade and globalization have encouraged businesses to become nationless enterprises detached from the economic well-being of any single country, to the detriment of all but transnational elites. He details the genesis of NAFTA and the failure of the agreement to deliver on its promises to workers, predicting a severe American recession as its legacy. But Faux sees hope for North America in the model of the European Union, a pie-in-the-sky conclusion to this incisive, rancorous book. (Jan.) (c) Copyright PWxyz, LLC. All rights reserved
Reviews
Review Quotes
* Why, in 1993, did the newly elected Bill Clinton pass the North American Free Trade Agreement, a pro-business measure invented by his political adversaries and opposed by his allies in labor and the environment? The answer, according to Faux, is that Clinton was less devoted to his base than to his fellow elites, rewarding their donations to the Democratic Party with access to Mexico's cheap labor and lax environmental standards. With a fluid grasp of both history and economics, Faux, founder of the Economic Policy Institute, critiques both Democrats and Republicans for protecting transnational corporations "while abandoning the rest of us to an unregulated, and therefore brutal and merciless, global market." Faux describes how free trade and globalization have encouraged businesses to become nationless enterprises detached from the economic well-being of any single country, to the detriment of all but transnational elites. He details the genesis of NAFTA and the failure of the agreement to deliver on its promises to workers, predicting a severe American recession as its legacy. But Faux sees hope for North America in the model of the European Union, a pie-in-the-sky conclusion to this incisive, rancorous book. (Jan.) ( Publishers Weekly , November 7, 2005)
"Globalization is a cover for American imperialism, but the beneficiaries are not the American people at the expense of foreigners but corporate executives at the expense of working and poor people wherever they may be. Jeff Faux offers a comprehensive and devastating analysis." --Chalmers Johnson, author of The Sorrows of Empire"You will never think about 'free trade' the same way after reading Jeff Faux's superb book. This book should transform public discourse in America." --Robert Kuttner, author of Everything for Sale
"Globalization is a cover for American imperialism, but the beneficiaries are not the American people at the expense of foreigners but corporate executives at the expense of working and poor people wherever they may be. Jeff Faux offers a comprehensive and devastating analysis." --Chalmers Johnson, author of The Sorrows of Empire "You will never think about 'free trade' the same way after reading Jeff Faux's superb book. This book should transform public discourse in America." --Robert Kuttner, author of Everything for Sale
This item was reviewed in:
Publishers Weekly, November 2005
Choice, June 2006
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Summaries
Back Cover Copy
Acclaim for The Global Class War "You will never think about 'free trade' the same way after reading Jeff Faux's superb book. As Faux makes clear, the globalization debate is really about whose interests are served by global elites, and how we need to go about reclaiming a democracy that serves ordinary people. This book should transform public discourse in America." -Robert Kuttner, founding coeditor of the American Prospect and a contributing columnist to BusinessWeek "Jeff Faux's astonishing story of how class works will scandalize the best names in Wall Street and Washington-especially the much admired Robert Rubin, who along with other elites colluded behind the backs of ordinary citizens in Mexico, Canada, and the United States. The most cynical Americans will be shocked by the sordid details. This really is an important book." -William Greider, author of The Soul of Capitalism and Secrets of the Temple "Globalization is a cover for American imperialism, but the beneficiaries are not the American people at the expense of foreigners but corporate executives at the expense of working-class and poor people wherever they may be. Jeff Faux offers a comprehensive and devastating analysis." -Chalmers Johnson, author of The Sorrows of Empire
Bowker Data Service Summary
Faux makes a provocative and informative case for a radical redirection of America's role in the world. He details the way America's growing economics and military empire could quickly crumble off its shaky foundations, made weak by rising public and private debt and a relentlessly expanding trade deficit.
Table of Contents
Acknowledgments
Introduction
NAFTA: Class Reunion
"Good Jobs" and Other Global Deceptions
Governing Class. America's Worst Kept Secret
How Reagan and Thatcher Stole Globalization
A Bipartisan Empire
Alan, Larry and Bob Save Mexico. and the World
NAFTA Equality. All Workers Lose
The Constitution According to Davos
America's Financial House of Cards
Redefining Our Future; a New Continental "We"?
Imagining North America
Towards a Continental Union
Notes
Index
Table of Contents provided by Publisher. All Rights Reserved.

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