derrierloisirs.fr
» » Billionaires' Ball: Gluttony and Hubris in an Age of Epic Inequality

Download Billionaires' Ball: Gluttony and Hubris in an Age of Epic Inequality ePub

by Linda McQuaig

Download Billionaires' Ball: Gluttony and Hubris in an Age of Epic Inequality ePub
  • ISBN 0807003395
  • ISBN13 978-0807003398
  • Language English
  • Author Linda McQuaig
  • Publisher Beacon Press (March 27, 2012)
  • Pages 280
  • Formats rtf lit doc docx
  • Category Social Science
  • Subcategory Politics and Government
  • Size ePub 1170 kb
  • Size Fb2 1162 kb
  • Rating: 4.9
  • Votes: 109

The concentration of wealth today in such a small number of hands inevitably created a dynamic that led to freewheeling financial speculation—a dynamic that produced similarly disastrous results in the last great age of inequality, in the 1920s. Such concentrated economic power reverberates throughout society, threatening the quality of life and the very functioning of democracy. As McQuaig and Brooks illustrate, it's no accident that the United States claims the most billionaires but suffers from among the highest rates of infant mortality and crime, the shortest life expectancy, and the lowest rates of social mobility and electoral political participation in the developed world. In Billionaires' Ball, McQuaig and Brooks take us back in history to the political decisions that helped birth our billionaires, then move us forward to the cutting-edge research into the dangers that concentrated wealth poses. Via vivid profiles of billionaires—ranging from philanthropic capitalists such as Bill Gates to hedge fund king John Paulson and the infamous band of Koch brothers—Billionaires' Ball illustrates why we hold dearly to the belief that they "earned" and "deserve" their grand fortunes, when such wealth is really a by-product of a legal and economic infrastructure that's become deeply flawed.

I bought this book after hearing Linda McQuaig interviewed by Robert McChesney on Media Matters. Whenever I read a passage in a book that's particularly interesting or thought-provoking, I make a note of it in the margin. Many of my books have no such markings

I bought this book after hearing Linda McQuaig interviewed by Robert McChesney on Media Matters. Although Bob McChesney's enthusiasm for the book gave me high expectations, the book was even better than I'd expected. Many of my books have no such markings. This book has markings on almost every page!

Billionaires’ Ball will leave readers both better informed and infuriated. Dean Baker, author of False Profits.

Billionaires’ Ball will leave readers both better informed and infuriated. Linda McQuaig is the author of seven Canadian best sellers and has been a national reporter for the Toronto Globe and Mail, a senior writer for Maclean’s, and a political columnist for the Toronto Star. Author of three books, Neil Brooks is director of the Graduate Program in Taxation at Osgoode Hall Law School in Toronto.

Billionaires' Ball is a detailed examination of how billionaires and other super-rich abuse the tax system to "earn" their money and screw the rest of us. Linda McQuiag and Neil Brooks make the case that the uber wealthy don't. Linda McQuiag and Neil Brooks make the case that the uber wealthy don't deserve their money because they don't earn it, especially in comparison to their contributions to society. 06nwingert, March 6, 2012. Billionaires' Ball is the latest (sad that the relentless lawless trend in America continues to generate the need for such examinations) book to examine the outrages and criminality that have beset Wall St in recent years.

Author Linda McQuaig Publisher Beacon Press Publication Date 2012-03-27 Section New Hardcover - Nonfiction .

Author Linda McQuaig Publisher Beacon Press Publication Date 2012-03-27 Section New Hardcover - Nonfiction, Politics. Type New Format Hardcover ISBN 9780807003398. As McQuaig and Brooks illustrate, it's no accident that the United States claims the most billionaires but suffers from among the highest rates of infant mortality and crime, the shortest life expectancy, and the lowest rates of social mobility and electoral political participation in the developed world. 20% off in the store and on harvard.

Billionaires' Ball: Gluttony and Hubris in an Age of Epic Inequality (2012) is a version of The Trouble with Billionaires with an emphasis on economic policies in the . McQuaig's newspaper columns focus on issues like the importance of maintaining a strong social safety net, and on the detrimental effects of privatization, trade and globalization, and the influence of money in politics.

Find many great new & used options and get the best deals for Billionaires' Ball: Gluttony and Hubris .

Linda McQuaig is the author of seven Canadian best sellers and has been a national reporter for the Toronto Globe and Mail, a senior writer for Maclean's, and a political columnist for the Toronto Star.

Talk about Billionaires' Ball: Gluttony and Hubris in an Age of Epic Inequality


Cerekelv
I bought this book after hearing Linda McQuaig interviewed by Robert McChesney on Media Matters. Although Bob McChesney's enthusiasm for the book gave me high expectations, the book was even better than I'd expected. I've been recommending that all my friends read Billionaires' Ball because of the book's thorough examination of inequality in the US. I found especially helpful the authors' summary of Kate Pickett and Richard Wilkinson's book The Spirit Level: Why Greater Equality Makes Societies Stronger, which links inequality with poor health outcomes.
Kamick
Very honest look at what is chipping away at global economy--economic gluttony of super rich and epic inequality of the working class. Great read that should be required reading in schools.
anneli
An in depth look at the power of the super elite. The elected people in the United States have
very little say in how the Country is governed and for all the talk of looking after the middle class or the poor,
both political parties are busy looking after the super elite.
Runehammer
Great read!
Blackstalker
This is a great read but very scary. It really gives you a picture of who really runs the US.
Molace
McQuaig and Brooks explain in detail just how unequal the distribution of both income and wealth have become in America in the last three decades, why this came about, and why it is so damaging to the country. All this they explain in a way that is clear, cogent, and understandable by any intelligent reader. Specialists say there is nothing new here, and perhaps they are right. But to have all of this delineated so well in one short book of slightly more than 200 pages is a great benefit.

The authors maintain that the excessive accumulation of riches, so threatening to both equality of opportunity and to democracy itself, can be remedied only by a much more progressive taxation system such as existed in the U. S. in the decades immediately following the second world war. Billionaires have either inherited much of their wealth or built it with the contributions of the community. The tax system and the provision of social services should reflect that reality. This book makes very convincing arguments as to why that is the case.

Many of the richest Americans collectively spend billions to convince us and our elected representatives that they deserve every penny. McQuaig and Brooks make a convincing case against such nonesense
Zainian
Whenever I read a passage in a book that's particularly interesting or thought-provoking, I make a note of it in the margin. Many of my books have no such markings. This book has markings on almost every page!

Here are titles from a few of the chapters, and my brief summary of those chapters:

"Millionaires and the Crash of 1929" - millionaires colluded with politicians to deregulate markets and allow banks to engage in risky behavior.

"Billionaires and the Crash of 2008" - during the Depression, Congress passed Glass-Steagall, which prevented banks from engaging in risky behavior; in 1999, Glass-Steagall was repealed, as demanded by Wall Street and politicians who did their bidding; the crash of 2008 soon followed.

"Why Bill Gates Doesn't Deserve His Fortune" - Gates got lots of lucky breaks: rich father; attended one of the few high schools with computer access; came along just when the computer revolution was taking off (spurred largely by government-funded research); IBM happened to choose his software instead of his rivals' arguably superior software.

"Why Other Billionaires Are Even Less Deserving" - other billionaires made money by actually harming society.

"Hank Aaron and the Myths About Motivation" - do stupendously high salaries for today's superstars make people work harder than less-highly paid people in the past, like Hank Aaron?

"Why Billionaires Are Bad for Democracy" - even the ancient Greeks recognized that vast wealth concentrated in the hands of a few leads to concentrated political power in the hands of those few; the wealthy tend to buy power and influence, to the detriment of the rest of us - this is the very opposite of democracy.

"The True Badge of Citizenship" - we are social beings, not individuals living alone in the wild, so we should regard taxes as the price we pay to live in a civilized society.

"Revamping the Ovarian Lottery" - Argues for a highly progressive inheritance tax, partly to prevent the rise of a permanent aristocracy based on inherited wealth; why should a few inherit vast fortunes - nearly tax-free - when the rest of us have to pay taxes on the money we earn by working for a living? An inheritance tax on the wealthy could provide education vouchers for college for everyone in the next generation.

Page 116 makes these very interesting points:
a) Apologists for the wealthy tell us that the wealthy need lower taxes in order to motivate them to work harder. But those same people never make the argument that we should raise wages for low-paid workers to motivate them to work harder. A rather curious double-standard.

b) Moreover, McQuaig and Brooks suggest that, if taxes on highly-paid workers are raised, they might be induced to work even harder, in order to achieve the same after-tax income. Why is this highly-plausible argument missing from our public discourse?

For readers in Canada: an earlier version of this book was published with the title "The Trouble With Billionaires". That book focuses on Canada. Many of the issues are the same, but the names are different - for example, that book discusses how the Bronfman family has gotten special tax breaks from the Canadian government.

Another issue raised in this book is how philanthropy by the rich is antithetical to democracy. When we pay money in taxes, it is the democratic process that decided how best to allocate those dollars. But with tax breaks that subsidize private philanthropy, the wealthy get to make the decision outside the democratic process; often, the dollars go to buildings with the donors' names on them, which is more of a purchase of naming rights than an act of charity. At Florida State University, the Koch Foundation even gets to screen prospective faculty members for the Economics Department! If you Google the phrase "the trouble with philanthropists", you'll find a YouTube video of McQuaig discussing how "philanthropy" has undermined academic freedom and the independence of universities.

I'll stop here, but there are many more thought-provoking ideas in this book. Read it. And be sure to have a pencil handy to underline all the interesting bits!
Thanks for this American remake of Linda McQuaig's brilliant book "The Trouble With Billionaires." She does a much better job than other writers of explaining how and why we got into this mess and where to place the blame. You might also want to read her "It's the Crude, Dude."