The author, a strategic communications consultant, is a gifted writer with a funny and approachable style.
She sets out to destroy a lot of confusing language that politicians, journalists, and occasionally economists use, trying to persuade the public at large. They use metaphors to describe the economy and twist facts to persuade you to their way of thinking or supporting their view. Don’t buy it is a “game changing” book that all should read and draw their own conclusions.
It helps the layman to understand the double-talk of economists and politicians.
Chapter four is particularly enlightening by stating that income and wealth inequality isn’t an economic problem, but “the” economic problem of our time.
Consumption-based economies, as they are prevalent in North America and most West European industrialized countries, need constant expansion to fuel them. This means the majority of the population, i.e the middle class, needs money to buy goods and services, and when the economy starts to shrink the vicious downward cycle starts.
Inequality, a very dangerous social stratification of a population, threatens the very fibre of democracy as justice Louis Brandeis claimed.
Rich people may consume more and more expensive goods and services, but in teh end, their contribution to the economy is proportionately less than their tax privileges permit.
By definition economy is to serve humanity, not vice versa. This book bisects incisively the underpinnings of the right wing capitalist view that seems to affect the economy adversely.
The author also suggests how the economy can be made to serve the majority of the population and only politicians sitting at the levers of government can do it, but they depend too much on the funds the rich provide so as to them elected.
It shines as swift, concise, clear and insightful to revive a moribund economy.