Cited Book: The Rigged Game: Corporate America and A People Betrayed


book cover recommend book⇒The Rigged Game: Corporate America and A People Betrayed
by John Hively 978-1-55164-280-2 paperback
publisher Black Rose 978-1-55164-281-9 hardcover
published 2006-07-15
This is a book about how a tiny wealthy elite, through corporations, have absconded with a larger and larger share of the wealth from the working people. It also analyses the consequence of doing this to excess, such as happened in the Great Depression. To boost dividends, corporations lay off employees, outsource or reduce wages. The wealthy who now have the lion’s share of the money don’t buy more food, stereos etc. They invest their wealth. So over all, when many corporations do this at once, demand for goods collapses and the economy goes into recession. Similarly, to boost dividends, co-operating so-called competitors simultaneously raise their prices. This is the opposite of what you normally do in times of slowing sales. The strategy lowers demand even further, in a vicious downward spiral.
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