One of our most incisive and committed journalists—author of the classicAll the Livelong Day—shows us the real human cost of our economic follies.
The Great Recession has thrown huge economic challenges at almost all Americans save the super-affluent few, and we are only now beginning to reckon up the human toll it is taking.Down the Up Escalatoris an urgent dispatch from the front lines of our vast collective struggle to keep our heads above water and maybe even—someday—get ahead. Garson has interviewed an economically and geographically wide variety of Americans to show the painful waste in all this loss and insecurity, and describe how individuals are coping. Her broader historical focus, though, is on the causes and consequences of the long stagnation of wages and how it has resulted in an increasingly desperate reliance on credit and a series of ever-larger bubbles—stocks, technology, real estate. This is no way to run an economy, or a democracy.
From the members of the Pink Slip Club in New York, to a California home health-care aide on the eve of eviction, to a subprime mortgage broker who still thinks it could have worked,Down the Up Escalatorpresents a sobering picture of what happens to a society when it becomes economically organized to benefit only the very rich and the quick-buck speculators. But it also demonstrates the wit and resilience of ordinary Americans—and why they deserve so much better than the hand they’ve been dealt.