This is a transformative book. It’s the best book on American politics that I’ve read since Before the Storm. Not all of it is original (the authors seek to synthesize others’ work as well as present their own, but provide due credit where credit is due). Not all of its arguments are fully supported (the authors provide a strong circumstantial case to support their argument, but don’t have smoking gun evidence on many of the relevant causal relations). But it should transform the ways in which we think about and debate the political economy of the US.
The underlying argument is straightforward. The sources of American economic inequality are largely political – the result of deliberate political decisions to shape markets in ways that benefit the already-privileged at the expense of a more-or-less unaware public.
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