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The Precarious Financial Lives of American Families
Basic Books
June 2008
On Sale: June 2, 2008
384 pages
ISBN: 0465002250
EAN: 9780465002252
Hardcover
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Non-Fiction
The U.S. economy is wrapping up twenty-five years of some
of the strongest, smoothest growth in its history-a
performance so sweet economists have given it a name: “the
Great Moderation.” So why have so many of us, even those
making hundreds of thousands of dollars, arrived at the new
century with a gnawing sense that events are moving against
our families and ourselves? The easy answer is that we’re
suffering a case of needless anxiety. But the easy answer
is wrong. Drawing on interviews with hundreds of Americans
and new statistics he developed, Peter Gosselin traces a
quarter-century shift of economic risk from the broad
shoulders of business and government to the backs of
working people. It is a shift that has shaken the pillars
of most families’ lives-stable jobs, solid benefits,
government protections. The change doesn’t mean one can’t
prosper. But it does mean the benefits of growth come at
greater peril and your financial fall will be steeper if
you stumble. This threat to working Americans’ security-and
what to do about it-is a pressing concern to economists,
policy-makers, and everyone who works for a living.
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