Growing Prosperity

"Bluestone and Harrison have alerted us to the key issue confronting America: how to achieve growth with equity. This country needs a powerful dialogue on how to continue growth while deepening its benefits to all Americans. This is the blueprint for the terms of that debate."-U.S. Representative Richard Gephardt

"A breakthough in the political debate over the New Economy. This is the first book that lays out a progressive economic policy designed to encourage technology-driven growth, while ameliorating bad consequences such as a widening income disparity and excessive dependence on a volatile stock market." (Michael J. Mandel, Business Week)

Author Biography: Barry Bluestone is the Russell B. and Andrée B B. Stearns Trustee Professor of Political Economy and the founding director of the Center for Urban and Regional Policy at Northeastern University. Before his recent death, Bennett Harrison was Professor of Political Economy at the New School for Social Research in New York. Bluestone and Harrison collaborated on two earlier books: The Great U-Turn: Corporate Restructuring and the Polarization of America (1990) and The Deindustrialization of America (1984).

In this elegantly argued book, political economists Barry Bluestone and Bennett Harrison examine America's great surge of economic expansion in its historical context to demonstrate the causes for the vibrancy of our economy.

Contents

• Foreword ix
• Preface xiii
• 1 Growth with Equity 1
• 2 A History of American Growth 27
• 3 America's New Growth Potential 50
• 4 The Wall Street Model 102
• 5 The Wall Street Model: Too Little Long-Term Growth 138
• 6 The Wall Street Model: Too Much Long-Term Inequality 182
• 7 The Main Street Model for Growth with Equity 205
• 8 From Wall Street to Main Street: Economic Policy for the Twenty-first Century 237
• Notes 265
• Bibliography 311
• Index