The Great Risk Shift: The New Economic Insecurity and the Decline of the American Dream

Oxford University Press
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America's leaders say the economy is strong and getting stronger. But the safety net that once protected us is fast unraveling. With retirement plans in growing jeopardy while health coverage erodes, more and more economic risk is shifting from government and business onto the fragile shoulders of the American family. In The Great Risk Shift, Jacob S. Hacker lays bare this unsettling new economic climate, showing how it has come about, what it is doing to our families, and how we can fight back. Behind this shift, he contends, is the Personal Responsibility Crusade, eagerly embraced by corporate leaders and Republican politicians who speak of a nirvana of economic empowerment, an "ownership society" in which Americans are free to choose. But as Hacker reveals, the result has been quite different: a harsh new world of economic insecurity, in which far too many Americans are free to lose. The book documents how two great pillars of economic security--the family and the workplace--guarantee far less financial stability than they once did. The final leg of economic support--the public and private benefits that workers and families get when economic disaster strikes--has dangerously eroded as political leaders and corporations increasingly cut back protections of our health care, our income security, and our retirement pensions. Blending powerful human stories, big-picture analysis, and compelling ideas for reform, this remarkable volume will hit a nerve, serving as a rallying point in the vital struggle for economic security in an increasingly uncertain world.
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About the author

Jacob S. Hacker is the Stanley B. Resor Professor of Political Science at Yale University and a frequent commentator on American politics and social policy. He is also the coauthor, with Paul Pierson, of Winner-Take-All Politics (Simon & Schuster),American Amnesia (Simon & Schuster) and Off Center: The Republican Revolution and the Erosion of American Democracy (Yale University Press).
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Additional Information

Publisher
Oxford University Press
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Published on
Oct 9, 2006
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Pages
256
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ISBN
9780199726639
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Language
English
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Genres
Political Science / Political Economy
Political Science / Public Policy / Economic Policy
Political Science / Public Policy / Social Security
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Content Protection
This content is DRM protected.
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Available on Android devices
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Eligible for Family Library

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V. R. Leonard
The Social Security and Medicare Handbook includes the provisions of the Social Security Act, regulations issued under the Act, and recent case decisions (rulings). It is a readable, easy to understand resource for the extremely complex Social Security and Medicare programs and services.

Here in this new, groundbreaking, and exhaustively researched book you will learn an overview of the Social Security and Medicare system, how Social Security benefits are currently computed, how to become insured, and how to file a claim. You also will learn about retirement and auxiliary benefits, survivor benefits, disability benefits and protection, evaluating disability, cash benefit rates, employees, employer responsibilities, special coverage provisions, state and local employment, earnings records and tax reports, the administrative review process, supplemental income, other benefit programs, hospital insurance (Part A), medical insurance (Part B), Medicare Advantage plans (Part C), prescription drug coverage (Part D), prescription programs, and special veteran benefits.

This book will explain how current Social Security benefits are computed and provide insight into your Social Security benefits.

Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company presidentâe(tm)s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.
Jacob Hacker
The collapse of the financial markets in 2008 and the resulting 'Great Recession' merely accelerated an already worrisome trend: the shift away from an employer-based social welfare system in the United States. Since the end of World War II, a substantial percentage of the costs of social provision--most notably, unemployment insurance and health insurance--has been borne by employers rather than the state. The US has long been unique among advanced economies in this regard, but in recent years, its social contract has become so frayed that is fast becoming unrecognizable. Despite Obama's election, the burdens of social provision are falling increasingly upon individual families, and the situation is worsening because of the unemployment crisis. How can we repair the American social welfare system so that workers and families receive adequate protection and, if necessary, provision from the ravages of the market? In Shared Responsibility, Shared Risk, Jacob Hacker and Ann O'Leary have gathered a distinguished group of scholars on American social policy to address this most fundamental of problems. Collectively, they analyze how the 'privatization of risk' has increased hardships for American families and increased inequality. They also propose a series of solutions that would distribute the burdens of risks more broadly and expand the social safety net. The range of issues covered is broad: health care, homeownership, social security and aging, unemployment, wealth (as opposed to income) creation, education, and family-friendly policies. The book is also comparative, measuring US social policy against the policies of other advanced nations. Given the current crisis in America social policy and the concomitant paralysis within government, the book has the potential to make an important intervention in the current debate.
Jacob S. Hacker
A groundbreaking work that identifies the real culprit behind one of the great economic crimes of our time— the growing inequality of incomes between the vast majority of Americans and the richest of the rich.

We all know that the very rich have gotten a lot richer these past few decades while most Americans haven’t. In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the “haveit- alls” have so much more? And how have they managed to restructure the economy to reap the lion’s share of the gains and shift the costs of their new economic playground downward, tearing new holes in the safety net and saddling all of us with increased debt and risk? Lots of so-called experts claim to have solved this great mystery, but no one has really gotten to the bottom of it—until now.

In their lively and provocative Winner-Take-All Politics, renowned political scientists Jacob S. Hacker and Paul Pierson demonstrate convincingly that the usual suspects—foreign trade and financial globalization, technological changes in the workplace, increased education at the top—are largely innocent of the charges against them. Instead, they indict an unlikely suspect and take us on an entertaining tour of the mountain of evidence against the culprit. The guilty party is American politics. Runaway inequality and the present economic crisis reflect what government has done to aid the rich and what it has not done to safeguard the interests of the middle class. The winner-take-all economy is primarily a result of winner-take-all politics.

In an innovative historical departure, Hacker and Pierson trace the rise of the winner-take-all economy back to the late 1970s when, under a Democratic president and a Democratic Congress, a major transformation of American politics occurred. With big business and conservative ideologues organizing themselves to undo the regulations and progressive tax policies that had helped ensure a fair distribution of economic rewards, deregulation got under way, taxes were cut for the wealthiest, and business decisively defeated labor in Washington. And this transformation continued under Reagan and the Bushes as well as under Clinton, with both parties catering to the interests of those at the very top. Hacker and Pierson’s gripping narration of the epic battles waged during President Obama’s first two years in office reveals an unpleasant but catalyzing truth: winner-take-all politics, while under challenge, is still very much with us.

Winner-Take-All Politics—part revelatory history, part political analysis, part intellectual journey— shows how a political system that traditionally has been responsive to the interests of the middle class has been hijacked by the superrich. In doing so, it not only changes how we think about American politics, but also points the way to rebuilding a democracy that serves the interests of the many rather than just those of the wealthy few.
Jacob S. Hacker
A “provocative” (Kirkus Reviews), timely, and topical work that examines what’s good for American business and what’s good for Americans—and why those interests are misaligned.

In American Amnesia, bestselling political scientists Jacob S. Hacker and Paul Pierson trace the economic and political history of the United States over the last century and show how a viable mixed economy has long been the dominant engine of America’s prosperity. We have largely forgotten this reliance, as many political circles and corporate actors have come to mistakenly see government as a hindrance rather than the propeller it once was. “American Amnesia” is more than a rhetorical phrase; elites have literally forgotten, or at least forgotten to talk about, the essential role of public authority in achieving big positive-sum bargains in advanced societies.

The mixed economy was the most important social innovation of the twentieth century. It spread a previously unimaginable level of broad prosperity. It enabled steep increases in education, health, longevity, and economic security. And yet, extraordinarily, it is anathema to many current economic and political elites. Looking at this record of remarkable accomplishment, they recoil in horror. And as the advocates of anti-government free market fundamentalist have gained power, they are hell-bent on scrapping the instrument of nearly a century of unprecedented economic and social progress. In the American Amnesia, Hacker and Pierson explain the full “story of how government helped make America great, how the enthusiasm for bashing government is behind its current malaise, and how a return to effective government is the answer the nation is looking for” (The New York Times).
Joe Soss
Over the past three decades, the contours of American social, economic, and political life have changed dramatically. The post-war patterns of broadly distributed economic growth have given way to stark inequalities of income and wealth, the GOP and its allies have gained power and shifted U.S. politics rightward, and the role of government in the lives of Americans has changed fundamentally. Remaking America explores how these trends are related, investigating the complex interactions of economics, politics, and public policy.

Remaking America explains how the broad restructuring of government policy has both reflected and propelled major shifts in the character of inequality and democracy in the United States. The contributors explore how recent political and policy changes affect not just the social standing of Americans but also the character of democratic citizenship in the United States today. Lawrence Jacobs shows how partisan politics, public opinion, and interest groups have shaped the evolution of Medicare, but also how Medicare itself restructured health politics in America. Kimberly Morgan explains how highly visible tax policies created an opportunity for conservatives to lead a grassroots tax revolt that ultimately eroded of the revenues needed for social-welfare programs. Deborah Stone explores how new policies have redefined participation in the labor force—as opposed to fulfilling family or civic obligations—as the central criterion of citizenship. Frances Fox Piven explains how low-income women remain creative and vital political actors in an era in which welfare programs increasingly subject them to stringent behavioral requirements and monitoring. Joshua Guetzkow and Bruce Western document the rise of mass incarceration in America and illuminate its unhealthy effects on state social-policy efforts and the civic status of African-American men.

For many disadvantaged Americans who used to look to government as a source of opportunity and security, the state has become increasingly paternalistic and punitive. Far from standing alone, their experience reflects a broader set of political victories and policy revolutions that have fundamentally altered American democracy and society. Empirically grounded and theoretically informed, Remaking America connects the dots to provide insight into the remarkable social and political changes of the last three decades.

Jacob S. Hacker
A groundbreaking work that identifies the real culprit behind one of the great economic crimes of our time— the growing inequality of incomes between the vast majority of Americans and the richest of the rich.

We all know that the very rich have gotten a lot richer these past few decades while most Americans haven’t. In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the “haveit- alls” have so much more? And how have they managed to restructure the economy to reap the lion’s share of the gains and shift the costs of their new economic playground downward, tearing new holes in the safety net and saddling all of us with increased debt and risk? Lots of so-called experts claim to have solved this great mystery, but no one has really gotten to the bottom of it—until now.

In their lively and provocative Winner-Take-All Politics, renowned political scientists Jacob S. Hacker and Paul Pierson demonstrate convincingly that the usual suspects—foreign trade and financial globalization, technological changes in the workplace, increased education at the top—are largely innocent of the charges against them. Instead, they indict an unlikely suspect and take us on an entertaining tour of the mountain of evidence against the culprit. The guilty party is American politics. Runaway inequality and the present economic crisis reflect what government has done to aid the rich and what it has not done to safeguard the interests of the middle class. The winner-take-all economy is primarily a result of winner-take-all politics.

In an innovative historical departure, Hacker and Pierson trace the rise of the winner-take-all economy back to the late 1970s when, under a Democratic president and a Democratic Congress, a major transformation of American politics occurred. With big business and conservative ideologues organizing themselves to undo the regulations and progressive tax policies that had helped ensure a fair distribution of economic rewards, deregulation got under way, taxes were cut for the wealthiest, and business decisively defeated labor in Washington. And this transformation continued under Reagan and the Bushes as well as under Clinton, with both parties catering to the interests of those at the very top. Hacker and Pierson’s gripping narration of the epic battles waged during President Obama’s first two years in office reveals an unpleasant but catalyzing truth: winner-take-all politics, while under challenge, is still very much with us.

Winner-Take-All Politics—part revelatory history, part political analysis, part intellectual journey— shows how a political system that traditionally has been responsive to the interests of the middle class has been hijacked by the superrich. In doing so, it not only changes how we think about American politics, but also points the way to rebuilding a democracy that serves the interests of the many rather than just those of the wealthy few.
Jacob S. Hacker
America's leaders say the economy is strong and getting stronger. But the safety net that once protected us is fast unraveling. With retirement plans in growing jeopardy while health coverage erodes, more and more economic risk is shifting from government and business onto the fragile shoulders of the American family. In The Great Risk Shift, Jacob S. Hacker lays bare this unsettling new economic climate, showing how it has come about, what it is doing to our families, and how we can fight back. Behind this shift, he contends, is the Personal Responsibility Crusade, eagerly embraced by corporate leaders and Republican politicians who speak of a nirvana of economic empowerment, an "ownership society" in which Americans are free to choose. But as Hacker reveals, the result has been quite different: a harsh new world of economic insecurity, in which far too many Americans are free to lose. The book documents how two great pillars of economic security--the family and the workplace--guarantee far less financial stability than they once did. The final leg of economic support--the public and private benefits that workers and families get when economic disaster strikes--has dangerously eroded as political leaders and corporations increasingly cut back protections of our health care, our income security, and our retirement pensions. Blending powerful human stories, big-picture analysis, and compelling ideas for reform, this remarkable volume will hit a nerve, serving as a rallying point in the vital struggle for economic security in an increasingly uncertain world.
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