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    Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class: Based on the Book by Edward Conrad
    Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class: Based on the Book by Edward Conrad
    Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class: Based on the Book by Edward Conrad
    Ebook36 pages25 minutes

    Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class: Based on the Book by Edward Conrad

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    Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class Based on the Book by Edward Conard
     
    So much to read, so little time? This brief overview of The Upside of Inequality tells you what you need to know—before or after you read Edward Conard’s book.

    Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader.
     
    This short summary and analysis of The Upside of Inequality includes:
    • Historical context
    • Chapter-by-chapter overviews
    • Important quotes
    • Fascinating trivia
    • Glossary of terms
    • Supporting material to enhance your understanding of the original work
    About The Upside of Inequality: How Good Intentions Undermine the Middle Class by Edward Conard:
     
    New York Times–bestselling author Edward Conard argues in favor of an American economic system that results in massive income inequality. Breaking down the causes of inequality while dispelling many of the myths surrounding stagnating wages and financial disparity for the the lower and middle classes, Conard dismisses the call for wealth redistribution. He, instead, makes the case for lower taxes, less regulation of banks, restricted immigration, and lower trade deficits.
     
    The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.
     
    LanguageEnglish
    PublisherOpen Road Integrated Media
    Release dateApr 4, 2017
    ISBN9781504045957
    Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class: Based on the Book by Edward Conrad
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      Book preview

      Summary and Analysis of The Upside of Inequality - Worth Books

      Contents

      Context

      Overview

      Summary

      Direct Quotes and Analysis

      What’s That Word?

      Critical Response

      About Edward Conard

      For Your Information

      Bibliography

      Copyright

      Context

      In 2012, Edward Conard’s friend and colleague Mitt Romney was running for president. Conard, a founding partner of Bain Capital, published his book Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong, which covered his take on the 2008 financial crisis and detailed his opposition to President Barack Obama’s financial policies. The conservative-minded book, which advocated for less financial regulation, became a bestseller.

      During the 2012 presidential election, income inequality became a talking point for both parties’ candidates, who saw the accumulation of wealth by the richest Americans—the 1% and 0.1%—as a fundamental problem in modern society. Bucking conventional wisdom, Conard’s second book, The Upside of Inequality, argues that lessening inequality should not be the goal of economists or governments.

      Overview

      While many blame the wealthiest Americans for acquiring an ever-expanding percentage of wealth and starving out the lower and middle classes, Edward Conard argues that income inequality is not the cause of America’s problems.

      First, he explains, the top 1% and 0.1% have become much wealthier for good reasons: We reward riskier investments and entrepreneurial choices fairly, and as the global economy grows, those who are successful logically receive more. Similarly, he argues that CEOs now make much more in proportion to their employees because corporations have grown in size and assets; therefore, the heads of these companies deserve a proportionately higher pay package. He dismisses any accusations that the wealthy don’t earn their money, arguing that income from investment is a good way to encourage further investment.

      At the same time, he declares that lower- and middle-class workers have not been impaired by

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