Moving Back to our Economic Future: Bottoms-Up to Prosperity

ISBN 10: 1461008158 / ISBN 13: 9781461008156
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Synopsis: About the Book Author Warren Gregory proposes a much different approach for economic recovery than those currently emanating from Washington D.C. or various state capitals; one that promises a return to America’s “Golden Years” from 1947 to 1973. Rather than continuing to rely on the failed policies of Laissez-Faire or Keynesian economics, the adoption of Investment Budgeting as our fiscal policy would mean a long overdue recognition of its economic successes. The book opens with a discussion about who has the power to control American economic and fiscal policy. This discussion makes it easier for the reader to understand today’s economic decisions. Gregory uses the history of Social Security to answer whether big business or public opinion controls economic decision making. Investment Budgeting, aptly named by the Author, would invest in “strategic” infrastructure; that is, putting more public dollars into projects that improve private sector productivity and therefore result in more business investment into the economy. Investment Budgeting strengthens the middle-class by having more Americans working at good paying jobs and having income flowing from the bottom-up rather than from the top-down. This was the direction of the income flow during America’s ‘Golden Age,” that was noted for having a strong and growing middle-class. Without a strong middle-class, the Author maintains, America will further resemble third world countries with their widespread income disparities between the rich and the rest of society. In addressing his topic, Gregory discusses income inequality, trickle-down economics, Keynesian economics, the multiplier effect, the history of public investments, get-rich versus get-poor strategies, a greater propensity to save versus a greater propensity to consume, the “excess labor force,” and the economic marginalization of the Black underclass. To better understand where this nation’s economy is currently headed, Gregory’s chapter “measuring income inequality” is especially enlightening. To properly implement an Investment Budget, Gregory closes with a series of recommendations, including a sales tax on services and a regular review of tax expenditures to see if they are outdated or simply not meeting public objectives. The Author closes by noting that no business can be expected to invest in a country or state that will not first invest in itself.

About the Author: About the Author As former Chief Economist and Director of Public policy with the State of Michigan Legislature and Adjunct Professor at several universities, Warren Gregory brings an in-depth and diverse knowledge to his topic. Gregory has written over 50 publications addressing the economy and public budgeting. Several of his works are especially relevant to our current economic situation, including: · His 1992 work Silent Depression: Prescriptions for an Ailing Industrial Giant warned lawmakers that the nation was in the grips of a “Silent Depression” that, over time, will be more devastating than the Great Depression of the 1930s. He predicted that the middle-class would soon be unable to fund our future “recoveries” unless they had real income. Public policy needed to change dramatically, Gregory asserted, and if policy makers failed to address the distribution of income our silent depression would transform into real one. Gregory’s warning became true with the Great Recession of 2008. · Gregory’s publication Investment Budgeting: Moving Back to Michigan’s Future (1992), demonstrated a new and innovative way to view the role of public sector in the economy. By reversing economic conditions in our middle-class, Gregory had a solution to our silent depression. · His work Crisis in the Criminal Justice System: Causes, Consequences, and Options (1991) was received with glowing editorial and public support and resulted in the Michigan Legislature’s adopting the nation’s first Community Corrections Act. His concern about how the Black underclass has been treated is also reflected in his book Locking Doors: Nonviolent Offenders, Blacks, and the Rest of Us (2005). The war on Crime is a sham because it is not being waged for public safety reasons, rather it is being waged to control our “excess labor force.” Gregory has won a number of national and state awards and has been the subject of a variety of newspaper editorials. In one editorial, Gregory was called one of our most insightful economic analysts. One reason for this is Gregory’s habit of taking his readers behind the economic headlines and showing them how our elected officials have misled the public and have systematically decimated the middle class.

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ISBN 10: 1461008158 ISBN 13: 9781461008156
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Book Description CreateSpace Independent Publishing Platform. Paperback. Book Condition: VERY GOOD. Very Good copy, cover and pages show some wear from reading and storage. Binding may have light creases. Lots of life left in these pages. Bookseller Inventory # 2686216201

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