Political journalist Michael Tomasky tracks an exciting change among progressive economists who are overturning decades of conservative dogma and offering an alternative version of capitalism that can serve broadly shared prosperity to all.
“Engaging, briskly paced … On balance, history appears to be on Tomaskys side.” The New York Times Book Review
In the first half of the twentieth century the Keynesian brand of economics, which saw government spending as a necessary spur to economic growth, prevailed. Then in the 1970s, conservatives fought back. Once they got people to believe a few simple ideas insteadthat only the free market could produce growth, that taxes and regulation stifle growththe battle was won. The era of conservative dogma, often called neoliberal economics, had begun. It ushered in increasing inequality, a shrinking middle class, and declining public investment. For fifty years, liberals have not been able to make a dent in it. Until now.
In The Middle Out, journalist Michael Tomasky narrates this history and reports on the work of today’s progressive economists, who are using mountains of historical evidence to contradict neoliberal claims. Their research reveals conservative dogma to be unfounded and shows how concentrated wealth has been built on the exploitation of women, minorities, and the politically powerless. Middle-out economics, in contrast, is the belief that prosperity comes from a thriving middle class, and therefore government plays a role in supporting families and communities. This version of capitalism–more just, more equal, and in which prosperity is shared–could be the American future.
**The Middle Out: The Rise of Progressive Economics and a Return to Shared Prosperity - A Hardcover Exploration of Economic Alternatives** Are you ready to challenge the status quo and explore a bold new vision for the American economy? In *The Middle Out: The Rise of Progressive Economics and a Return to Shared Prosperity*, acclaimed political journalist Michael Tomasky masterfully dissects the failures of neoliberal economics and introduces readers to the groundbreaking work of progressive economists who are reshaping the debate. This compelling hardcover edition, published by Doubleday in 2022, offers a vital perspective on how we can build a more just and prosperous future for all. For decades, the dominant economic narrative has been one of free markets, deregulation, and tax cuts for the wealthy. But as inequality has soared, the middle class has shrunk, and public investment has stagnated, a growing chorus of voices is questioning whether this model truly works. Tomasky's *The Middle Out* shines a light on the intellectual revolution brewing within the field of economics, where researchers are using rigorous historical data to debunk the myths of neoliberalism and demonstrate the power of "middle-out" economics. This isn't just another abstract academic treatise. Tomasky, known for his sharp political analysis and accessible writing style, brings these complex ideas to life, making them understandable and engaging for a broad audience. He meticulously traces the rise of conservative economic dogma in the 1970s, explaining how a few simple (but ultimately flawed) ideas captured the public imagination and paved the way for decades of policies that disproportionately benefited the wealthy. But *The Middle Out* is ultimately a story of hope and possibility. Tomasky introduces readers to the brilliant minds who are pioneering a new way of thinking about economics one that recognizes the crucial role of government in supporting families, communities, and a thriving middle class. These economists are not simply rehashing old Keynesian ideas; they are building upon them with fresh insights and empirical evidence, demonstrating how investments in education, infrastructure, and social programs can fuel sustainable economic growth that benefits everyone. What exactly *is* middle-out economics? It's the belief that a strong middle class is the engine of economic prosperity. When working families have more money in their pockets, they spend it, creating demand and driving job creation. This virtuous cycle, Tomasky argues, is far more effective than trickle-down economics, which assumes that wealth will eventually make its way down to the masses. *The Middle Out* is more than just a critique of the past; it's a roadmap for the future. Tomasky explores the specific policies that could help to build a more equitable and prosperous society, including investments in early childhood education, affordable healthcare, and a stronger social safety net. He also examines the role of government in regulating markets, protecting workers' rights, and ensuring that everyone has a fair chance to succeed. This book is essential reading for anyone who is concerned about the future of the American economy and wants to understand the ideas that are shaping the debate. Whether you're a student, a policymaker, or simply a concerned citizen, *The Middle Out* will provide you with a fresh and insightful perspective on how we can build a more just and prosperous future for all. Expect engaging arguments, a brisk pace, and well-researched insights that may just change the way you think about economics. This is a book that not only diagnoses the problems but offers tangible solutions, paving the way for a return to shared prosperity and a more equitable American future. Weighing in at 476 grams and spanning 304 pages, this hardcover is a substantial and important contribution to the conversation about economic policy.
