Top Heavy: The Increasing Inequality of Wealth in America and What Can Be Done About It, Second Edition
Average customer rating: 5 out of 5 stars
  • A must
  • Timely proposals to ease America's most pressing political and social problem
  • the alarm has been sounded
  • Very Nice Survey of Wealth Inequality
Top Heavy: The Increasing Inequality of Wealth in America and What Can Be Done About It, Second Edition
Edward N. Wolff
Manufacturer: New Press
ProductGroup: Book
Binding: Paperback

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ASIN: 1565846656

Book Description

A revised and expanded edition of the shocking study that changed the way we think of wealth in America. A work that sparked widespread controversy when it was first published, Top Heavy is acclaimed economist Edward N. Wolff's eloquent presentation of the facts of wealth inequality in the United States. In a completely revised and updated edition of the book the Boston Review hailed as "the leading contemporary study of the distribution of wealth," Wolff reveals the unprecedented rise in recent years of wealth inequality and shows how it is one of the major forces challenging democracy and economic opportunity in America. Wolff vividly illustrates how the gap between the haves and the have-nots in terms of wealth is greater now than at any time since 1929, immediately preceding the Great Depression. As the nation considers trillion-dollar tax cuts and the abolishment of the estate tax, Top Heavy takes a sobering look at how the wealth of the top 1% of households continues its heartstopping expansion while the current distribution of wealth in America invites the surprisingly apt comparison with the class-dominated societies of nineteenth-century Europe. Top Heavy will continue to be an essential reference point in any discussion of what an economically healthy America might look like. B/W charts and graphs throughout.

Customer Reviews:

5 out of 5 stars A must.......2007-01-10

This is a must read for anyone interested in economic inequality. Excellent social science and readable.

5 out of 5 stars Timely proposals to ease America's most pressing political and social problem.......2005-12-29

No feature of American political life astonishes me more than the almost complete silence of politicians and journalists and the media concerning the most pressing problem is contemporary American life: the dramatically increasing inequality between the haves and have nots in the United States. According to Federal Reserve figures the share of the national wealth held by the top 1% of the population has risen from 20$ in 1979 to 37% by 1997. I have not seen figures since that date, but after Clinton continued the deregulation started by Reagan and continued by Bush 41 and then Bush 43 engaged on an inconceivably lavish give-back program in the nation's history, it would be impossible to imagine that the figures have improved since then. What is the figure now? 40%? 45%? 48%? Here is what frightens me: Edward Wolff published the revised version of his novel in 2002, submitting the manuscript to the publishers before Bush's incredible largesse to the rich took place in 2002. The problem was, in Wolff's view (and in the view of most responsible economists), pressing and dire in 2001. How much worse has it gotten since a string of tax cuts and policy changes that have unquestionably have made a serious problem vastly worse?

Wolff's concern in this well-documented work are twofold: first, he wants to delineate the nature of the economic inequality that currently pervades the United States to a degree found in no other developed country; second, he wants to suggest one way partially to rectify the problem: for the United States to adopt a wealth tax similar to one that exists in several other nations.

Most people, when they think of economic inequality, think in terms of income inequality. Such inequality does indeed exist, but Wolff shows that the most damaging inequality is wealth inequality. The point, once stated, is obvious. Two families with the same income could nonetheless have very significant differences in economic well-being if one has far more wealth than the other, i.e., property and durable goods and other holdings. The problem in the United States, as demonstrated by the Fed statistics I noted above, is that virtually all the wealth is held by the top 20% of the populace, with the top 1% holding a disproportionate amount of that.

Wolff proposes one way to close the growing and vast gap between the wealthy and the mass of Americans: taxing wealth. Even the most conservative of taxes on aggregate wealth would, based on 1998 figures, generate approximately $52 billion dollars in tax revenue. The goal in Wolff's conception is to shift the tax burden more fairly toward the ones who possess the greatest wealth. He notes that in 2001 the United States had only two forms of wealth tax in place, both of which Bush has assaulted with impassioned intensity: estate taxes and capital gains taxes. Eliminating both of these are regressive taxes in that they ease the tax burden on the wealth while doing nothing to aid the poor or middle class. In other words, instead of the Bush administration doing something about economic inequality, they have intensified it.

I found Wolff's proposals to be highly persuasive. Unfortunately, we are still nationally in the throes of all kinds of mythology about taxes. We imagine that taxes are harmful to the economy, that it is unfair to expect the wealthy to pay a significantly higher tax rate, and that cutting taxes somehow stimulates the economy. In fact, as Wolff points out, a wealth tax would actually be highly stimulative by forcing the very wealthy to shift their wealth into more productive forms of investment.

But quite apart from whatever is economically productive, there are a host of moral and political questions. Is a society that allows wealth to accumulate among those who already have an inordinate amount conducive to the greater good? Is a society that persistently fails to aide those who have the least just? I will confess that my heart never bleeds for the very wealthy when they are asked to pay a bit more. Nor do I buy the rather absurdist arguments that tax cuts for the wealthy promotes economic growth. Historically, shifting wealth to the middle class has always been vastly more stimulative to the economy than shifting it to the rich. And shifting wealth to the rich has never generated any benefits to the middle class or the poor. As Will Rogers pointed out in the 1920s, another era where people thought giving more to the rich would benefit all, some people think that gold is like water: put it at the top and it runs down and nourishes everyone down below. But, Rogers pointed, out, gold isn't like water at all. You put it at the top and it just stays there. Until we as a nation start addressing the problem of our nation's severe economic inequality, the gold is just going to stay there.

5 out of 5 stars the alarm has been sounded.......2004-02-26

This study of the distribution of wealth in America is disheartening indeed. Though it only surveys the economic scene until 1989 (a postscript brings it up to 1992), it is not hard to believe that things haven't changed much since then. Basically, it concludes that the gap between the rich and the poor has increased to a greater extent than at any time since before the Great Depression, and that the gap between the rich and the poor is greater than in most European countries.

Not only does this book outline the problem in detail, but it proposes a restructured tax system similar to that existing in many European countries, a tax system which would ease the burden on the poor, while placing little extra tax burdens on the rich-- and still raise billions more in tax revenue. Though this book is filled with statistical analyses, it is slim (fewer than a hundred pages), and those not mathematically inclined can skip to the conclusions here and there, which are written in clear, understandable prose. Well worth reading, and certain to be a wake-up call to anyone who has suspected that the middle class has been disappearing in this country.

4 out of 5 stars Very Nice Survey of Wealth Inequality.......1999-11-28

Ed Wolff's book--a review of his earlier work on wealth, with some new additional material added--documents that the United States today is a more unequal society than at any time since the Great Depression.

According to his numbers--which are lousy, but are nevertheless the best we have or are likely to acquire-- in 1929 the richest one percent of households had about 41 percent of the economy's total wealth. But the leveling associated with the Depression and World War II had reduced the richest one percent's share to about 22 percent by 1945. Thereafter, the leveling trend continued. By the mid-1970s, the richest one percent's share--including the implicit value of rights and claims on the Social Security system. of total wealth was down to 13-16 percent of the economy's total wealth. But by the late 1980s, the richest one percent's' wealth was back up to 21 percent of the economy's total wealth. And scattered pieces of information suggest that the trend toward increasing inequality has continued into the 1990s.

Increasing inequality is not due to a surge in entrepreneurial activity: economic growth was unusually low in the 1980s (in substantial part because of the drain on investment resulting from the Reagan deficits). The fortunes made were, for the most part, not to any unusual extent the by-product of especially rapid economic growth.

Rising inequality is cause for alarm for two reasons: First, in a time of high inequality politics becomes nasty and democracy becomes less secure and stable. Second, an unequal economy--an economy in which the chances of striking it rich are larger and the chances of failing to maintain middle-class incomes are larger--fails to provide adequate social insurance. Risk-averse people would, if given a choice when young, overwhelmingly prefer to live in an equally rich overall but more equally distributed society.

Strategic Organizational Communication: In a Global Economy (with InfoTrac®)
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    Strategic Organizational Communication: In a Global Economy (with InfoTrac®)
    Charles Conrad , and Marshall Scott Poole
    Manufacturer: Wadsworth Publishing
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    Strategic Organizational Communication: In a Global Economy
    Average customer rating: Not rated
      Strategic Organizational Communication: In a Global Economy
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      Gardner's Guide to Finding Money for School Online (Gardner's Guide series)
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        Christina Edwards
        Manufacturer: Garth Gardner Company
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        There's money out there, you've just got to find it. Gardner's Guide® to Finding Money for School Online will show you how. This reference book cites a multitude of institutions, both public and private, that have funds to help students get a college education. Any student searching for money for college will find this guide up-to-date and conveniently organized with listings that range from scholarship services to government resources and much more. Readers will also hear from experts telling students not only how to find the best scholarships, but how to win them.

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        Psychological Meaning of Redemption Motifs in Fairytales (Studies in Jungian Psychology, 2)
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          Marie-Luise von Franz
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          In the Company of Whales: From the Diary of a Whalewatcher
          Average customer rating: 4.5 out of 5 stars
          • Awesome book, Awesome Author!
          • Good for Interested Children
          In the Company of Whales: From the Diary of a Whalewatcher
          Alexandra Morton
          Manufacturer: Orca Book Publishers
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          In the Company of Whales From the Diary of a Whale Watcher Alexandra Morton KIND Book Award This book is about the many things that the whales have taught me, and about some of the questions that I have not yet found the answers to. It is also about just living with the whales and trying to fit in. Through diary entries, notes and photographs, In the Company of Whales explores Alexandra Morton's efforts to better understand the habits and behaviors of the killer whale off Canada's west coast. As a fascinating introduction to the life of a scientist working in the field, the book will entertain and inspire readers young and old. After fourteen years of studying Orca in the wild, Morton continues to delight in the challenge presented by these magnificent mammals. Alexandra Morton, known as "the Whale Lady" to many of her fans, lives with her son Jarret in Simoom Sound of Gilford Island off the west coast of British Columbia. She supports her research with her writing, photography and artwork. Siwiti: A Whale's Story (Orca, 1991), her first book, won the Sheila A. Egoff Children's Book Prize and has had numerous printings.

          Customer Reviews:

          5 out of 5 stars Awesome book, Awesome Author!.......2005-02-03

          This is an amazing book for kids; the best part is the fact that she actually refers to the whales by name. I am an avid orca-lover, and even though I'm a little old for it, I've still read this book a million times. Yeah, Nicola!

          4 out of 5 stars Good for Interested Children.......2001-07-06

          This book is great for little kids really interested in Orcas. The photographs are fantstic, and she explaings everything she does each day. There are little blurbs on "whale vocab." It's something you can read again and again.

          Jump Attack: the Ultimate Program On How to Jump Higher and be More Explosive
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            Jump Attack: the Ultimate Program On How to Jump Higher and be More Explosive
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            Simple Stunning Wedding Organizer: Planning Your Perfect Celebration
            Average customer rating: 4.5 out of 5 stars
            • Useful! Keeps my wedding pieces together...
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            Karen Bussen
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            The companion volume to Simple Stunning Weddings, this beautifully designed binder is the practical application of Karen Bussen's design and planning theories. Full of useful information, tips, and trade secrets, the Organizer leads couples through the planning process with minimal pain and suffering.

            Applying her trademark "simple stunning" technique to any taste, place, and budget, Bussen provides practical charts, worksheets, and fill-in pages, arranged in decision-making sequence, right through to the honeymoon and thank-you notes.

            The three-ring binder has plenty of room for additional pages and enormous guest lists. Six storage pockets provide space for receipts, business cards, sample menus, and fabric swatches. AUTHOR BIO: KAREN BUSSEN has planned weddings to complement a wide variety of locations, budgets, and tastes. She is a consultant to one of Japan's largest hotel chains, and is featured in Joan Hamburg's City Wedding, a guide to New York's top wedding resources.

            ELLEN SILVERMAN is a New York-based photographer who specializes in food, fashion, and interiors.

            Customer Reviews:

            4 out of 5 stars Useful! Keeps my wedding pieces together..........2007-05-07

            I bought this pretty early on when I was not sure WHAT I would or wouldn't be needing. My first wedding, no wedding planner hired and I ending up liking this. It has thick clear plastic pockets you can put samples of everything in (linens, dress colors, biz cards) and that comes in handy. Helps with some questions you should ask vendors if you don't know the basics (which I did not - so this and the internet)... and give you extra papers for words/ideas.... just half way through planning now and I am still using it. Its a good way to keep ideas, papers, samples, EVERYTHING kept together in a very pretty binder. (Plus if you get stressed and you dont want to think about it for a few days it hides away nicely too...)

            4 out of 5 stars Pretty good book.........2007-01-12

            This book has some pretty good ideas for planning a wedding but nothing you won't come across in just planning alone. The binder is helpful to keep things organized.

            5 out of 5 stars Looked far and Wide.......2006-02-09

            I looked thorugh every bookstore and website for the perfect wedding planner. If you want a "How-to" this may not be the planner for you, but if you want lots of room to doodle, take notes, good worksheets and pockets, this is perfect. I also like the 3-ring design, I have added a lot of pages so far, any three hole punch will adjust to fit this binder. All I could have asked for!

            The Making of a Name: The Inside Story of the Brands We Buy
            Average customer rating: 4.5 out of 5 stars
            • OR...Learn to dance in ten easy steps
            • A Rose Is A Rose Is A Rose...
            • The "Comprehensive" Inside Story of the Brands We Buy
            • A passionate, intelligent guide to those names we buy
            • Words matter.
            The Making of a Name: The Inside Story of the Brands We Buy
            Steve Rivkin , and Fraser Sutherland
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            Book Description

            How do brand names differ from other names, and what goes into making a good name great and a bad name ghastly? Knowing this can spell the difference between bankruptcy and marketplace triumph. In this indispensable guide, the authors share the secrets of successful brand names--how they've indelibly stamped cultures around the world; who makes them; why they're made; and how they're compiled, bought, sold, and protected. The book outlines what kind of names exist--the initialized, descriptive, allusive, and coined. How namers surf on brainwaves. The do's, don'ts, and nevers of naming, how the structure of names is built from the ground up and how their sounds are engineered. Why names symbolize benefits. Where in the world brands may be found, and what will become of them. Fast-paced, illustration-packed, gazing at the past and probing into the future, this is the definitive book on naming. The Making of A Name is the one book anyone interested in "owned words" must have.

            Customer Reviews:

            4 out of 5 stars OR...Learn to dance in ten easy steps.......2006-03-30

            There is nothing simple about developing effective brand names. With the number of trademarks and the globalization of marketing opportunities beyond English speaking peoples, the need to define leadership with an internet domain... Steve has done a solid job of defining the requirements for getting it right. Now get out your tap dancing shoes...

            3 out of 5 stars A Rose Is A Rose Is A Rose..........2005-06-08

            Brand names mark everything we use or wear. The single most important element is the brand name. Getting the right name isn't easy, and make a major difference in what sells and what doesn't. A name embodies a company's reputation and its "goodwill."

            Names identify something or someone. Names help us keep things and people straight. We label children by their gender -- add an "a" to a man's name and Presto! the daughter matches her dad. If I'd had a daughter, she would have been named after an Edgar Allen Poe symbol fot 'the most beautiful woman in the world.' No girls, so had to name one of my cats, Ligeia. Tosca, another cat, was named for a perfume, not the opera.

            A clever daughter-in-law named her little girl Kaleena (aborigines for 'daughter,' she said.); I discovered another Kaleena here in Knoxville who admitted that her mother named her after a soap-opera character. So much for cleverness! I've heard of girls named Dakota, but now a bus rider here has named her son Dakota. Could it be for the state of Dakota, or for a male soap opera character? Most sons are named for their fathers, even II & III, instead of Junior; some are named after their mother's first love.

            Brand names are products and services, while trade names are the companies who offer them. Ordinary words began as branded products -- what is 'ordinary' usage varies from one country to another. A trademark in the U. S. may not be one in England. It's all in name recognition.

            5 out of 5 stars The "Comprehensive" Inside Story of the Brands We Buy.......2005-03-04

            "The Making of a Name" is a terrific, comprehensive book on names, namers, and naming. I highly recommend this book to anyone, whether you are an entrepenuer in the midst of launching a new company, product or service, a seasoned marketer, or quite frankly, you just like names and words. "The Making of a Name" is chock full of naming anecdotes, hints, tips, and history (I was especially interested in the tid-bits about the brands we're all familiar with).

            By the end of the book, you'll know names--inside and out. What makes a good name, what makes a bad name, how names are created (and in some cases, re-created), and a ton more. You'll be hard pressed to hear, read, see, or think of a name in the same light!

            5 out of 5 stars A passionate, intelligent guide to those names we buy.......2005-01-17

            The book provides a thorough introduction to the evolution and significance of brand names. It's an easy read for those of us without degrees in linguistics and covers a great deal of ground. I particularly liked the anecdotes liberally spread throughout.

            Of particular interest to me was a chapter devoted to global brand names. While I would have liked to see more attention devoted to this topic - since most brand names created today should first be given a "global analysis" - I found some wonderful anecdotes in the chapter. Here are a few:

            "Standardizing the taste is one thing. Standardizing the marketing is another." Even though Heineken is kept standard globally, its marketing is widely tailored to each market. For example, in Asia beer is marketed as a sophisticated, almost feminine, product while brewers in Australia position it as quite the opposite.

            Nestle succeeds globally because it creates products specific to local markets. For example, it offers an instant coffee specifically for India called Sunrise, blended with chicory to appeal to local taste buds. The company may have a dozen worldwide brands but has more than a hundred regional brands and more than 700 local brands.

            Be careful when taking your brand name into new markets. Consider the challenges that these local brands would face if they were introduced into the US:

            * Bimbo bread (Spain)
            * Zit soft drinks (Greece)
            * Pschitt soft drink (France)

            5 out of 5 stars Words matter........2004-12-19

            In an overcommunicated world, the words we choose to name things are very important if you want to catch fire with a market and be remembered by consumers. This book is enormously helpful to anyone bringing out a new product or service. It is also extremely entertaining to read -- a winner on every count.
            Name games: Microsoft by any other name would sell as well.(The Making of a Name: The Inside Story of the Brands We Buy)(Book Review) : An article from: Washington Monthly
            Average customer rating: Not rated
              Name games: Microsoft by any other name would sell as well.(The Making of a Name: The Inside Story of the Brands We Buy)(Book Review) : An article from: Washington Monthly
              Jamie Malanowski
              Manufacturer: Washington Monthly Company
              ProductGroup: Book
              Binding: Digital

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              ASIN: B000ALO2HQ
              Release Date: 2005-07-25

              Book Description

              This digital document is an article from Washington Monthly, published by Washington Monthly Company on March 1, 2005. The length of the article is 1146 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

              Citation Details
              Title: Name games: Microsoft by any other name would sell as well.(The Making of a Name: The Inside Story of the Brands We Buy)(Book Review)
              Author: Jamie Malanowski
              Publication: Washington Monthly (Magazine/Journal)
              Date: March 1, 2005
              Publisher: Washington Monthly Company
              Volume: 37 Issue: 3 Page: 42(2)

              Article Type: Book Review

              Distributed by Thomson Gale
              The Making of a Name: The Inside Story of the Brands We Buy
              Average customer rating: Not rated
                The Making of a Name: The Inside Story of the Brands We Buy
                Steve; Sutherland, Fraser; Trout, Jack Rivkin
                Manufacturer: Oxford University Press, USA
                ProductGroup: Book
                Binding: Paperback
                ASIN: B000OKWMIO

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