Robert Kuttner

After what was a thoughtfully construed first ten chapters, culminating in a brilliant summary of why (national) democracy cannot withstand an onslaught of unfetered global finance and global capitalism, I felt severely let down by the final chapter which turned into a starry-eyed uncritical propagation of the alternative to the current system. That's the only reason why I am giving "just" 4 stars. Although I am convinced of the demerits of the current system, just simply pointing out the show more flaws of the current system, and then opting for an alternative instead without any form of pre-emptive critique is, in my view, just false reasoning. Still a very enjoyable read though. show less

I've long agreed with almost all of the points made by Kuttner in this book, but I've never had a systematic framework in which to logically relate them. In this book, Kuttner provides that framework. He outlines a history of postwar economics that is both coherent and compelling and draws on Polanyi and Keynes to make sense of why things happened the way they did. His policy recommendations in the last chapter are rational and necessary. The only thing I don't share with Kuttner, however, show more is his optimism that because they are necessary, they will happen. show less

I really breezed through this since it was written pre-election, and this very hopeful! The writer's analysis of other president's and his progressive, liberal suggestions do make for thought-provoking reading. He is definitely in the "Hope for Audacity" crowd and I am sure feels Obama is not left enough. I am sure history will appraise himas very centrist, over all

†The Squandering of America is an extraordinarily compelling argument for increased financial regulation and managed capitalism and is highly recommended for public, government, and academic libraries.

Kuttner (Everything for Sale, 1997) – former Chief Investigator of the US Senate Committee on Banking, Housing & Urban Affairs adroitly synthesizes the political processes and dynamics of managed and unmanaged capitalism leading to the current state of finance and regulatory show more oversight/undersight. Kuttner explores a vast array of factors from the proliferation of hedge funds, offshore banking and risky commercial lending to the pressure to relocate jobs overseas and the massive accumulation of US debt to foreign accounts. He contends that corruption of democratic processes has enabled an ‘elite’ class to cash in without adding anything of measurable value to the economy – while the real standard of living for the general public has plummeted. Although the evidence leads to a bleak and disturbing financial picture, Kuttner shows how reversal of numerous policies and adoption of a system more closely resembling the European economic model could help return us to a more equitably distributed economy. show less