A Fabulous Failure Audiobook By Nelson Lichtenstein, Judith Stein cover art

A Fabulous Failure

The Clinton Presidency and the Transformation of American Capitalism

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A Fabulous Failure

By: Nelson Lichtenstein, Judith Stein
Narrated by: Tom Campbell
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About this listen

When Bill Clinton was elected president in 1992, he ended twelve years of Republican rule and seemed poised to enact a progressive transformation of the US economy, touching everything from health care to trade to labor relations. Yet by the time he left office, the nation's economic and social policies had instead lurched dramatically rightward, exacerbating the inequalities so troubling in our own time.

Nelson Lichtenstein and Judith Stein show how the administration's progressive reformers were stymied by a new world of global capitalism that heightened Wall Street influence, undermined domestic manufacturing, and eviscerated the labor movement. Robert Rubin, Larry Summers, and Al Gore proved champions of this financialized world. Meanwhile, Clinton divided his own party when he relied on Republican votes to overhaul welfare, liberalize trade, and deregulate the banking and telecommunications industries. Even the economic boom Clinton ushered in ended with a series of exploding asset bubbles that his neoliberal economic advisors neither foresaw nor prevented.

A Fabulous Failure explains why and how the Clinton presidency's progressive statecraft floundered in a world where the labor movement was weak, civil rights forces quiescent, and corporate America ever more powerful.

©2023 Nelson Lichtenstein (P)2023 Kalorama
Ideologies & Doctrines United States Wall Street Health care American History Economic disparity US Economy George w. bush Great Recession Franklin D. Roosevelt Economic inequality
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How We Got Here…

To anyone who wants to understand just how badly served working people were by Bill Clinton’s administration, this is necessary reading.

This is an excellent summary of post-cold war liberalism failed the great body of the American people and effectively redistributed even more wealth upwards than Reagan and Bush did.

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