America in decline / by Mike Sharpe.

Includes bibliographical references and index.

Print version record.

This collection gathers ninety-one essays written by Mike Sharpe that appeared in Challenge: The Magazine of Economic Affairs from 1973 through 2011. They deal with virtually every aspect of the U.S. and international economies. The title reflects the fact that income and wealth inequalities in the U.S. have increased to disastrous levels not seen since the 1920s. The wealthy have recaptured the power to make the rules almost unilaterally. The author also examines the decline of Europe and Russia, the problematic rise of China, and the enigmatic portent of the Arab Spring. The book begins with the stagflation of the 1970s and ends with the bust of the 2000s, clinching the case, in the author's opinion, that America has been in decline for more than three decades. The tide can be reversed if and when we are ready to use fact-based economic policies.

Title Page; Dedication; Table of Contents; Preface; Acknowledgments; A Note on Dates, Comments, and Presidents; Advice on Reading This Book; Planning Versus Stagflation, 1973-1979; To the Lilies of the Field Who Toil Not; Economics for Sybarites; Why Economists Disagree; The Galbraithian Revolution; Of Sticky Prices and Stinking Fish: The Wage-Price Spiral; Gunnar Myrdal's Challenge; Portrait in Oil; 2074; As You Like lt; The Praise of Folly; Inflation and Defunct Ideas: President Ford's Economic Summit; The Economic Consequences of Friedrich A. von Hayek; The Fear of Planning.

The Planning BillReply to a Critic of Planning; Recovery Without Recovery; The Continued Existence of New York City Is Not Essential to National Security; Ten Rules for Full Employment Without Inflation; The Lost Papers of Jack Tanner; Do Economists Discover Economic Laws or Are They Passed by Congress?; How to Plan the Economy; Apologia pro Vita Mea; The Last Chronicle of Barset; Advising Carter and Congress; The Backward Art of Giving Advice; JKG versus the Angel; What Is an Incomes Policy All About?; Little Red Riding Hood; Searching for Homo sapiens.

Why a Tax-based Incomes Policy Won't WorkAnniversaries; Once More, Capitalism, Socialism, Democracy; Is Inflation Inevitable in Post-Keynesian Capitalism?; When Britain Ran Out of Wood; Back to Laissez Faire, 1988-1999; Thirty Years of Challenge; The Speaker Speaks; The Rise and Fall of theNew Deal; Ownership and Control; Labor's Future; What's Wrong with Economists?; The Good Society and Its Enemies; Adam Smith: Right and Wrong; Short Takes: Pleasant and Unpleasant Reviews; The Labor Movement and Black Ghettos: Two Reviews; The Short Twentieth Century; The Theft of Russia.

Forty-thousand Years of HistoryThe Past and Future of Socialism: The Communist Manifesto at 150; The Truman Show; World Development for the Few; Remembering Wassily Leontief, 1905-1999; Social Health and Social Illth; Further Down the Downward Spiral, 2005-2011; Robert Heilbroner, 1919-2005; The Biography of John Kenneth Galbraith; The Way Out of Iraq; One President, Five Disasters; New Orleans: A Modest Proposal; The Country Left the Man; Garbage; John Kenneth Galbraith, 1908-2006; The Heavy Burden of Wealth; He's Got the Whole World in His Hands; Iraqonomics.

How to Become a Friend of the Next PresidentAmerica's Suicide Pact with George W. Bush; Poor People; The New New Deal; A Sick Society; Hard Times; Racism and Polite Conversation; Super-Bubble; The Case for Government; Barack Obama and the Revolution of November 4, 2008; What Keynes Knew; Postscript on the G20 Summit: What Members Can Learn from the WPA; Recovery?; Camp Runamuck; Dissatisfaction Guaranteed: An Account of Two Bubbles; Obama's Failures; The Freefall That Isn't Free; Tea Party Politics; The Futility of Force; The Crisis of Capitalism; The Failure of Capitalism; Big Money.

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