Pity the Billionaire by Thomas Frank
Thomas Frank, the best-selling author of What's the Matter with Kansas?, the book that explores why voters in southern and rural states vote against their economic interests by voting for Republican economic policies, is back with a new book that explores the more recent phenomenon of the Tea Party rise and how the collapse of the economy in 2008 resulted inexplicably in a populist surge that celebrated an extension of free-market policies that actually caused the collapse, instead of a reversal of policies toward more economic regulation, taxation, and governmental intervention as happened after the Great Depression. For me, this book went a long, long way to explaining this shocking diconnect in American discourse (and worldwide, for that matter, as Europe has followed the same austerity-based destructive path to recovery as we did) and helped explain the "why" of the Tea Party's rise and why there continue to be a large swath of the American public so disenchanted with government that they have actually bought the Republican talking points of lower taxes and less regulations and "job creators" hook-line-and-sinker, even though these prescriptions are in fact anethema to economic growth (because, and I've said this a million times, without demand from the poor and middle class, the job creators ain't going to create jobs no matter how low you make their taxes...) The book was written before the Occupy Wall Street revolution that came this fall, and if Frank had waited, he would probably say that was exactly the rebellious movement that would have been expected after the collapse of the economy in 2008, the protests against the people and corporations who collapsed the economy, not the protests against the government that the Tea Party represented and that millions of misinformed middle and lower-class Americans continue to thrust their misplaced anger (or on each other, the other poor "living high on handouts with their cell phones and nice sneakers", one of the most BS attack lines created by the wealthy so we don't notice how the government has stacked things so nicely towards them and not the actual poor, who, you know, are fucking poor). But I think Frank would say Occupy came too late at this point and even as it's changed the narrative of some in the media, it's not enough outrage and, crucially, there's no political party in the country and very few actual politicians (Elizabeth Warren and Bernie Sanders are a couple exceptions) who are giving voice to the 99% in the halls of power. One wonders what it will take to change the narrative or to actually fix things in this country from the state that they are in. But understanding how we got to this point -- the rise of far-right economic fervor in the face of a massive economic collapse predicated on policies proscripted out of far-right economic theory-- makes this informative book a must-read for all Americans.