The Rise of the Deal and the Decline of the American Dream: How the Financial Elite Enriched Themselves While Leaving the Middle Class Behind

In his groundbreaking book, "The Rise of the Deal and the Decline of the American Dream," Pulitzer Prize-winning journalist Matthew Stewart argues that the American Dream has been hijacked by a new financial elite who have rigged the system in their own favor. Stewart traces the history of the deal from its origins in the early days of Wall Street to its current incarnation as a multi-trillion-dollar industry that dominates the American economy. He shows how the rise of the deal has led to a decline in wages, benefits, and job security for the middle class, while the financial elite have reaped enormous rewards.

The History of the Deal

The deal has its roots in the early days of Wall Street, when financiers would pool their money to fund risky ventures. In the 19th century, the deal became a powerful tool for financing the construction of railroads, canals, and other infrastructure projects. The deal also played a major role in the development of the American economy in the 20th century, as it helped to finance the growth of corporations and the expansion of the suburbs.

Transaction Man: The Rise of the Deal and the Decline of the American Dream

by Nicholas Lemann

4 out of 5

Language	:	English
File size	:	2667 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	322 pages

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However, in recent decades, the deal has become increasingly divorced from the real economy. Instead of financing productive investments, deals are now often used to finance risky speculations and mergers and acquisitions. This has led to a decline in the productivity of the American economy, as well as a rise in inequality.

The Impact of the Deal on the Middle Class

The rise of the deal has had a devastating impact on the middle class. Wages have stagnated, benefits have been cut, and job security has declined. Meanwhile, the cost of living has continued to rise, making it increasingly difficult for middle-class families to make ends meet.

The decline of the middle class has been a major factor in the rise of populism and political instability in the United States. People are angry and frustrated, and they are looking for someone to blame. The financial elite are an easy target, as they are seen as the people who have rigged the system in their own favor.

The Future of the American Dream

The future of the American Dream is uncertain. The financial elite have a vested interest in maintaining the status quo, and they will fight tooth and nail to protect their wealth and power. However, there is a growing movement of people who are demanding change. They are calling for a more just and equitable economy, one that works for everyone, not just the wealthy few.

The future of the American Dream depends on whether or not this movement can succeed. If the people can unite and demand change, then the American Dream can still be saved. However, if the financial elite are able to maintain their grip on power, then the American Dream will continue to decline.

The Rise of the Deal and the Decline of the American Dream is a powerful and important book that sheds light on one of the most pressing issues facing our country today. Stewart argues that the American Dream has been hijacked by a new financial elite who have rigged the system in their own favor. He shows how the rise of the deal has led to a decline in wages, benefits, and job security for the middle class, while the financial elite have reaped enormous rewards.

Stewart's book is a must-read for anyone who wants to understand the economic and political challenges facing the United States today. It is a call to action for all those who believe that the American Dream is worth fighting for.

Transaction Man: The Rise of the Deal and the Decline of the American Dream

by Nicholas Lemann

4 out of 5

Language	:	English
File size	:	2667 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	322 pages

FREE