Selling Out a Superpower

by Pollina, Ronald R.

• ISBN13: 9781616142155
• ISBN10: 1616142154
• Format: Hardcover
• Copyright: 2010-09-01
• Publisher: Prometheus Books

Summary

An economist documents how the American middle and lower classes have been betrayed for the last twenty years. Explains how America can reinvigorate and renew it's economy, rebuild it's greatness, create 21st-century jobs, and more.

Table of Contents

Preface	p. 13
Acknowledgments	p. 19
Superpower No More?: The Shift in International Economic Power	p. 21
Declining Middle Class-Declining Superpower	p. 21
Government Complicity in Offshoring	p. 26
Reality Check	p. 28
A Shift in International Economic Power	p. 33
Where Has All Our Vision Gone?	p. 37
The Ruling Class	p. 37
Lobbyists-Our Third Political Party	p. 41
Pay to Play	p. 49
Leadership Vacuum	p. 51
East Is the New West: The Shift in the Balance of Power	p. 55
Emerging Superpowers	p. 55
Shifting Technological Supremacy	p. 59
Keeping Our Entrepreneurial Spirit	p. 63
Difficulties to Overcome	p. 64
Building a New China? Do Not Restrain Your Expectations	p. 67
To the Victor Go the Spoils	p. 71
Hot War vs. Economic War	p. 71
India: Our Other Competitor	p. 76
A Marriage Made in Heaven?	p. 77
Yuan vs. US Dollar	p. 80
Decoupling China and the United States	p. 81
Twentieth-Century Education Does Not Produce Twenty-First-Century Jobs	p. 85
Importance of Education to Economic Development	p. 85
The R & D Black Hole	p. 90
The K-Undergraduate Disaster	p. 93
Staying Competitive in the Twenty-first Century	p. 95
Outsourcing National Security	p. 103
Outsourcing the Military and CIA	p. 103
The Free American Press of India	p. 108
Driving American Companies Offshore It's More Than Cheap Labor	p. 117
Returns on Assets-Core Competence Death Spiral	p. 117
US Tax Code-Designed to Be Avoided	p. 120
Choking on Red Tape and Litigation	p. 127
The Great American Job Purge: We're Making Little Effort to Stop It	p. 133
Offshoring Our Workforce	p. 133
Government, Unions, and Cars	p. 139
Reversing the Loss of Jobs	p. 144
Taking Responsibility for Economic Development	p. 153
Helping the Small and Midsize Companies	p. 153
Most States Receive Failing Grades	p. 154
Holding Corporations and Politicians Responsible	p. 163
Our Representatives Aren't Representing Us: Federal and State Leaders Just Don't Get It	p. 167
Disconnect between Government and Business	p. 167
Witches' Brew-Congress, Lobbyists, and Pork	p. 173
Agricultural Subsidies-More Pork Than Bacon	p. 177
A National Addiction to Deficit Spending	p. 181
Federal Budget Deficit	p. 181
National Debt's Impact on Americans	p. 185
Unraveling of Our Economy	p. 189
Why Free Trade Doesn't Mean Fair Trade	p. 197
Federal Trade Deficit	p. 197
Phantom GDP	p. 201
Clinton's and Bush's Free Trade Policies	p. 203
Free Trade's Impact on America	p. 205
The Eleventh Commandment for Some Presidents, It's a Matter of Faith	p. 211
Ricardo's Eleventh Commandment vs. The Soothing Scenario	p. 211
Free Trade Reality	p. 216
Theory vs. Empirical Evidence	p. 221
The High Cost of Free Trade	p. 225
Free vs. Fair Trade Policy	p. 225
Sixteen Years of Ping-Pong Trade Policy	p. 227
Steel Industry Tariff	p. 229
Isolationist Temptation	p. 233
There's No Such Thing as Win-Win Negotiating	p. 239
Lose-Lose Negotiations	p. 239
Win-Win Negotiations	p. 242
Our Trading Partners Are Brilliant	p. 245
"Qui se Fait Brebis le Loup le Mange"	p. 247
Easy Credit, Family Debt, and Tax Cuts Why You Can't Get Ahead	p. 251
Family Debt-Maxing Out Credit Cards	p. 251
Bankruptcy Abuse Prevention and Consumer Protection Act	p. 255
Personal Tax Cuts-Who Benefits?	p. 259
Dangers of Easy Credit	p. 261
The Morphine Solution to Economic Problems	p. 267
The Morphine Solution	p. 267
You Could Always Depend on Aunt Fannie and Uncle Freddie	p. 269
Bush's $1.1 Trillion Bailout	p. 272
Bailout Ramifications	p. 276
Obama's $787 Billion Bailout	p. 279
Twenty-First-Century Economic Wars	p. 287
What Does the Future Hold?	p. 287
America Is Not Rising to the Challenge	p. 290
Twenty-first-Century Economic Warfare	p. 293
Easy to Elect, Hard to Keep on Course	p. 297
Do We Have the Leaders We Deserve?	p. 300
Endnotes	p. 303
Index	p. 325
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