The Great Risk Shift: The Assault on American Jobs, Families, Health Care and Retirement And How You Can Fight BackAmerica's leaders say the economy is strong and getting stronger. But ordinary Americans aren't buying it. They see what the rosy statistics hide: We are all struggling under the weight of terrifying economic instability. No matter how well educated and hard working we are, we know that the bottom can fall out at any moment. Meanwhile, the safety net that once protected us is fast unraveling. With retirement plans in growing jeopardy while health coverage erodes, more and more economic risk is shifting from government and business onto the fragile shoulders of the American family.In The Great Risk Shift, Jacob S. Hacker lays bare this unsettling new economic climate, showing how it has come about, what it is doing to our families, and how we can fight back. Behind this shift, he contends, is the Personal Responsibility Crusade, eagerly embraced by corporate leaders and Republican politicians who speak of a nirvana of economic empowerment, an "ownership society" in which Americans are free to choose. But as Hacker reveals, the result has been quite different: a harsh new world of economic insecurity, in which far too many Americans are free to lose.The book documents how two great pillars of economic security--the family and the workplace--guarantee far less financial stability than they once did. The final leg of economic support--the public and private benefits that workers and families get when economic disaster strikes--has dangerously eroded as political leaders and corporations increasingly cut back protections of our health care, our income security, and our retirement pensions. Hacker concludes by advocating an "insurance and opportunity society" that would safeguard economic security and expand economic opportunity, ensuring that all Americans have the basic financial security they need to reach for and achieve the American Dream.Jacob Hacker brings into focus as never before the pressures that the Great Risk Shift exerts on our pocketbooks and on our lives. Blending powerful human stories, big-picture analysis, and compelling ideas for reform, this remarkable volume will hit a nerve, serving as a rallying point in the vital struggle for economic security in an increasingly uncertain world. |
Contents
The New Economic Insecurity | 11 |
Risking It All | 35 |
Risky Jobs | 61 |
Copyright | |
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adverse selection Ameri American families Amos Tversky available online average bankruptcy basic benefits Blue Cross Cato Institute companies conservative corporate costs coverage Daniel Kahneman debt defined-benefit pensions defined-contribution divorce earnings economic risk economic security economists employers Enron face family income federal growing guaranteed health insurance health plans Health Savings Accounts HSAs increased increasingly individual insecurity instability investment Job Loss kids labor less living long-term losing loss aversion managed Medicaid Medical Savings Accounts Medicare ment millions moral hazard nation nomic ownership society parents part-time pension plans percent Personal Responsibility Crusade political poverty premiums private accounts problem protection Republican retirement rising Risk Shift risk-pooling risky sector Security Act share simple social insurance Social Security spending statistics tax breaks tion unemployed unemployment United University Press volatility Washington Welfare women workers workforce workplace York