Deaths of Despair and the Future of Capitalism
-
-
4.2 • 9 Ratings
-
-
- $12.99
-
- $12.99
Publisher Description
A New York Times Bestseller
A Wall Street Journal Bestseller
A New York Times Notable Book of 2020
A New York Times Book Review Editors’ Choice
Shortlisted for the Financial Times and McKinsey Business Book of the Year
A New Statesman Book to Read
From economist Anne Case and Nobel Prize winner Angus Deaton, a groundbreaking account of how the flaws in capitalism are fatal for America's working class
Deaths of despair from suicide, drug overdose, and alcoholism are rising dramatically in the United States, claiming hundreds of thousands of American lives. Anne Case and Angus Deaton explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. This critically important book paints a troubling portrait of the American dream in decline, and provides solutions that can rein in capitalism's excesses and make it work for everyone.
PUBLISHERS WEEKLY
Husband and wife economists Case and Deaton (The Great Escape) analyze the factors contributing to rising death rates among white, working-class Americans in this grim yet galvanizing account. Attributing much of the overall increase to suicides, drug overdoses, and alcoholic liver disease, Case and Deaton show that 158,000 people succumbed to such "deaths of despair" in 2017 ("the equivalent of three full 737s falling out of the sky every day, with no survivors"). They also note that the mortality rate among white men aged 45 54 without a bachelor's degree has increased 25% since the early 1990s, while decreasing 40% for those with a college diploma. Looking behind the numbers, Case and Deaton examine how solid, blue-collar jobs that could support a stable family life have been replaced by low-paying service industry jobs, contributing to wage stagnation; the role of the pharmaceutical industry in the opioid epidemic; and deficiencies in American health care ("a disgrace"). In a brisk final chapter, they outline possible reforms, including universal health care, wage subsidies, the loosening of patent protections to buoy business innovation and competition, and German-style apprenticeship programs as a college alternative. Complementing their candid prose with enlightening charts and graphs, Case and Deaton make the scale and immediacy of the problem crystal clear. This is an essential portrait of America in crisis.
More Books Like This