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The Big Con: Crackpot Economics and the Fleecing of America, by Jonathan Chait
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American politics has been hijacked. Over the past three decades, a fringe group of economic hucksters has corrupted and perverted our nation’s policies. With dark, engaging wit, Jonathan Chait reveals how these canny zealots first took over the Republican Party and then gamed the political system and the media so that once unthinkable policies—without a shred of academic, expert, or even popular support—now drive the political agenda, regardless of which party is in power.
Why have these ideas succeeded in Washington? How did a clique of extremists gain control of American economic policy and sell short the country’s future? And why do their outlandish ideas still determine policy despite repeated electoral setbacks? Chait tells the outrageous and eye-opening story, expertly explaining just how politics and economics work in Washington. He has produced a riveting drama of greed and deceit that should be read by every concerned citizen, especially in an election year.
- Sales Rank: #1116428 in Books
- Brand: Brand: Houghton Mifflin Harcourt
- Published on: 2008-09-03
- Released on: 2008-09-03
- Original language: English
- Number of items: 1
- Dimensions: 8.00" h x .70" w x 5.06" l, .65 pounds
- Binding: Paperback
- 304 pages
- Used Book in Good Condition
From Publishers Weekly
The author, a senior editor at the New Republic, is best known for declaring I hate President George W. Bush in 2003. This book traces the roots of his dislike back 30 years, when supply-side economics took over the Republican Party and made cutting taxes the GOP answer to all political and economic questions. American politics has been hijacked by a tiny coterie of right-wing economic extremists, Chait declares, some of them ideological zealots, others merely greedy, a few of them possibly insane. To which he adds, the Republicans' success at defeating the democratic process explains why it has been able to enact its agenda despite a lack of popular support. The rhetoric is inflammatory, but the case is laid out with clarity. Chait claims that traditional Republicans, religious people and social, fiscal and foreign policy conservatives have been cheated as much as liberals, and that unparalleled corruption and ruthless cynicism in Washington and the timidity of nonpartisan media allow the minority to rule. His analysis should appeal to anyone interested in politics, though many may find the style too irritating to endure. (Sept. 12)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Review
"Chait is both very serious and seriously funny as he traces the rise of conservatism over the past thirty years." --Michael Kinsley
"Jonathan Chait has nailed a large and important story about . . . the bamboozling of America . . . he writes with a mordant wit." --Sean Wilentz
"Jonathan Chait has written a classic of political journalism . . . Prepare to be shocked." --Michael Lewis, author of Liar's Poker, Moneyball, and The Blindside
"Who says economic policy has to be dry? [Chait] brings a lively wit and a limpid style to the topic." --Ramesh Ponnuru, senior editor, National Review, and author of The Party of Death
"His analysis should appeal to anyone interested in politics"
"Agree or not with the author's liberal beliefs, consider this a stimulating analysis of how public policy is formulated today."
"[If] you're only going to read one book [about what's wrong with the modern Republican Party], this is the one." --Kevin Drum, Washington Monthly
About the Author
Jonathan Chait is a senior editor at the New Republic and writes the magazine’s signature TRB column. He is a contributing editor to the Los Angeles Times and has written for many publications including the New York Times, the Washington Post, the Atlantic, and the Wall Street Journal.
Most helpful customer reviews
4 of 6 people found the following review helpful.
A good place to start
By Karl R. Neice
This book is a good place to start to understand the late 20th century's emergence of the conservative movement and it's fortunate partnership with social conservatives and "Reagan Democrats." Chait spells out that the movement's flaws in logic as a radical logic. That means lying is OK because in the conservative universe it's not lying but serving a higher purpose. His exploration is extremely readable, especially of the asymmetric relationship between conservatives who toe the line and liberals who naturally try to compromise.
3 of 8 people found the following review helpful.
Telling it Like it is.
By Ken Libbey
This book is a meticulously researched account of how the Republican Party was penetrated and then taken over by radical economic conservatives preaching a counter-intuitive doctrine called "supply-side" economics. The takeover and the assertion of this quack theory into the national debate make for fascinating reading, more detailed than the story I sketched out in my book I Forgot, Honey, Why Are We Democrats? ten years ago.
Chait also does a good job documenting the disarming of the news media as conservatives pulled the old political center to the right. A shortcoming of the book is its thin attention to the Democrats and their failure to press their own understanding of history and economics.
One's interest does wane a little in the latter chapters as the aurthor belabors his points. Altogether, though, a good read for anyone wondering what happened to American politics.
82 of 91 people found the following review helpful.
A great book about an important subject
By Tom L. Huffman
I am reluctant to give 5 stars to any review, but I succumbed to the temptation in this case simply because for what it does this book is just about as good as it gets.
It reminds me somewhat of Paul Krugman's scarily prescient book "Fuzzy Math" that predicted all of the fiscal calamities that followed the enactment of the Bush tax cuts.
Chait's book is similar to Fuzzy Math on two counts: first, it offers a sustained, cogent criticism of Bush economic policy; and second, it is extremely well-written. Chait has an admirable ability to make fairly technical subject matter completely clear to a lay audience. He increases readability even more by sprinkling his prose with a healthy dose of humor. I couldn't put the book down, devouring it in a weekend.
However, The Big Con has a considerably more ambitious scope than Fuzzy Math, which was essentially limited to an analysis of Bush's 2001 tax cuts. The Big Con focuses upon the entire history of supply-side economics, the philosophy that has, as Chait aptly demonstrates, completely captured the Republican party despite the fact that it has virtually no support among professional economists.
If you want to learn something about economic policy while enjoying a thumping good read, I can't recommend a better choice.
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