Makers and Takers The Rise of Finance and the Fall of American Business

Makers and Takers: The Rise of Finance and the Fall of American Business

By Rana Foroohar

"Foroohar [posits that] the shortsighted and misguided financial practices that nearly toppled the global economy in 2008 have come to infiltrate all corners of American business--putting us on a dangerous collision course to another economic meltdown that will make 2008 look like a mere blip in the business cycle"--.

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Book Information

Publisher: Currency
Publish Date: 05/17/2016
Pages: 400
ISBN-13: 9780553447231
ISBN-10: 0553447238
Language: Eng

What We're Saying

December 07, 2016

The reality underlying each of our choices for the best Current Events & Public Affairs book of the year is that good business practices can be a balm to society, while bad business practices act as a barrier to progress. READ FULL DESCRIPTION

November 01, 2016

If you're going to read 40 business books published in 2016, make them this 40—or, I suppose, choose from among them. READ FULL DESCRIPTION

Full Description

Is Wall Street bad for Main Street America? A well-told exploration of why our current economy is leaving too many behind. --The New York Times In looking at the forces that shaped the 2016 presidential election, one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum. A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the "financialization of America"--the phenomenon by which finance and its way of thinking have come to dominate every corner of business--is threatening the American Dream. Now updated with new material explaining how our corrupted financial sys­tem propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to forty years of bad policy decisions, she shows why so many Americans have lost trust in the sys­tem, and why it matters urgently to us all. Through colorful stories of both "Takers," those stifling job creation while lining their own pockets, and "Makers," businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward.

About the Author

Rana Foroohar is the author of Don't Be Evil, which won a Porchlight Business Book Award, and Makers and Takers. Currently the global business columnist and associate editor for the Financial Times and the global economic analyst for CNN, she has served as the assistant managing editor and economic columnist at Time and an economic and foreign affairs editor and foreign correspondent at Newsweek.

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