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Makers and Takers: How Wall Street Destroyed Main Street

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Galleon Product ID 24660431
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About Makers And Takers: How Wall Street Destroyed Main

Product Description Is Wall Street bad for Main Street America?"A well-told exploration of why our current economy is leaving too many behind." —The New York Times In looking at 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 political spectrum, and it seems only to be gaining momentum.  A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to 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.   Now updated with new material explaining how our corrupted financial sys­tem propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to forty years of bad policy decisions, she shows why so many Americans have lost trust in the sys­tem, and why it matters urgently to us all.   Through colorful stories of both “Takers,” those stifling job creation while lining their own pockets, and “Makers,” businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward. Review Voted one of the Best Books of 2016 by the Financial Times and one of the best books of the year by Bloomberg BusinessWeek. "A masterly account of the disproportionate power that the financial sector exercises in the economy and the disastrous consequences this has for society as a whole." —Forbes.com"A credible explanation for the rise of economic populism in the 2016 U.S. presidential race. Anyone seeking to truly understand the resonance of the anti–Wall Street vitriol of Bernie Sanders and Donald Trump could do worse than to start here." —Fortune.com“Foroohar demystifies the decline in America’s economic prominence, showing that the competitive threats came not from the outside—migration or China—but from within our borders. She explains how finance has permeated every aspect of our economic and political life, and how those who caused the financial crisis wound up benefiting from it.” —Joseph E. Stiglitz, Nobel laureate in economics and former head of the Council of Economic Advisors   “A fast-paced, exciting, and well-researched tale that brings alive the shady dealings that have been part of the recent rise of finance (the takers). Wall Street has prospered beyond measure by consuming far too much of the value created by the real economy (the makers). Readers will be shocked by the shenanigans that are revealed, and then eager to help fix what has been so badly broken. It’s up to us—all of us.” —John C. Bogle, founder and former CEO, Vanguard   “In this well-written, refreshing, and provocative book, Rana Foroohar analyzes how Wall Street went from an enabler of prosperity to a headwind to growth and a contributor to inequality. This engaging analysis identifies five key policy areas that will rightly be the subject of debate and, hopefully, some political action. This is a must-read for those looking to better understand how, why, and when financial engineering went too far, and what to do about it." —Mohamed A. El-Erian, chief economic adviser, Allianz; former CEO, PIMCO   “From the leading edge of business journalism, Rana Foroohar has produced a powerful book about how financial manipulation has spread beyond the financial sector it