The Vanishing American Dream: A Frank Look at the Economic Realities Facing Middle- And Lower-Income Americans

Book excerpt: As America struggles to point its way out of the COVID-19 pandemic, we can't lose sight of the economic problems that existed before the crisis. Even when the unemployment rate was near record lows and the stock market near record highs, the gap between low- and moderate-income Americans and their wealthier counterparts had become unconscionably wide. A future economic recovery presents an opportunity to address this deeper, troubling challenge and to rectify the economic injustice that threatens so many Americans.In 2019, founder and CEO of Promontory Financial Group Gene Ludwig gathered a bipartisan group of the nation's foremost economic thinkers -- academics and politicians, CEOs and former presidential advisors -- to break with convention and candidly discuss that widening gap. The Vanishing American Dream: A Frank Look at the Economic Realities Facing Middle- and Lower-Income Americans comes from their insights.The opportunity to rebuild our economy should inspire the most important conversations and ideas of our time. The dialogue captured in this book provides broad and experienced perspectives on inequality and policy shortcomings, along with examples of ideas that have successfully narrowed the wealth gap, from government investment to the role of the private sector. As we remap our economy, we have an opportunity to rebuild the American Dream for the long-term.Combining expertise with optimism, The Vanishing American Dream invites readers to take a seat at the table for a bracing look at the road back to widespread opportunity, security, and prosperity.With Contributions By: Sarah Bloom Raskin, Glenn Hubbard, Deval Patrick, Robert Shiller, Larry Summers, Luke Bronin, Daryl Byrd, Oren Cass, Jacob Hacker Heather Gerken, Susan Krause Bell, Andrea Levere, Zachary Liscow, Jonathan Macey, Daniel Markovits, Mary Miller, Michael Moskow, David Newville, Steven Pearlstein, Isabel Sawhill, Jay Shambaugh, Anika Singh Lemar, and Andrew Tisch.