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Makers and Takers
400 pages, 2017
In her book Makers and Takers, Financial Times columnist Rana Foroohar explores the forces that shaped the 2016 presidential election, one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans.
This is a belief held equally on both sides of the political spectrum. One key reason, says Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create jobs for middle and working-class people. Her in-depth reporting and interviews at the highest rungs of business and government show how the “financialization of America”—the phenomenon by which finance and its way of thinking have come to dominate every corner of business—is threatening the American Dream.
In Makers and Takers, Rana Foroohar explores the concept of financialization, which is the increasing dominance of the finance industry over the economy. She argues that this shift has led to less productive investment and more speculative activity, which can harm the economy in the long run. It's a fascinating look into the inner workings of our financial system.
Foroohar digs into the role of Wall Street in the economy. She suggests that instead of supporting businesses and fostering innovation, Wall Street often prioritizes short-term profits over long-term growth. This can lead to economic instability and inequality. If you're interested in understanding the impact of Wall Street on our economy, this book is a must-read.
One of the key takeaways from Makers and Takers is the impact of financialization on everyday people. Foroohar shows how the shift towards a finance-dominated economy can lead to job losses, wage stagnation, and increased inequality. It's a sobering look at the human cost of economic policies and practices.
Foroohar doesn't just identify problems, she also offers solutions. She argues that we need to reform our financial system to focus more on productive investment and less on speculation. This includes changes in corporate governance, financial regulation, and economic policy. If you're interested in how we can create a more stable and equitable economy, you'll find plenty of ideas in this book.
Finally, Makers and Takers emphasizes the power of knowledge. By understanding the forces shaping our economy, we can make better decisions and advocate for change. Foroohar's book is a valuable resource for anyone looking to understand the complex world of finance and its impact on our lives.
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Rana Foroohar's Makers and Takers is a bold, insightful critique of the economic system's current state. It's a must-read for anyone seeking to understand the roots of our economic troubles.
Martin Wolf - British JournalistForoohar's book is a compelling exploration of the ways in which Wall Street's mindset and practices have permeated our entire economy, leading to a focus on financial engineering rather than real productivity and growth.
Nouriel Roubini - Economist, ProfessorMakers and Takers is a groundbreaking work that exposes how finance has overtaken real industry in importance, distorting our economy. Foroohar's book is a wake-up call for us to demand that our economy work for the many, not just the few.
Joseph E. Stiglitz - Economist, AuthorRecommendations
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