Ours Was the Shining Future : The Story of the American Dream

The clear-eyed, definitive history of the modern American economy and the decline of the American Dream, from the Pulitzer Prize–winning columnist behind The New York Times's “The Morning” newsletter. “With the even-handed incisiveness that has made him one of the country’s most-respected voices on economics, David Leonhardt illuminates the inside history of the players and missteps that have stolen so many Americans’ futures.”—Jane Mayer, author of Dark Money NEW YORK TIMES BOOK REVIEW EDITORS’ CHOICE • ONE OF THE ATLANTIC ’S TEN BEST BOOKS OF THE YEAR • A FINANCIAL TIMES BEST BOOK OF THE YEAR Two decades into the twenty-first century, the stagnation of living standards has become the defining trend of American life. Life expectancy has declined, economic inequality has soared, and, after some progress, the Black-white wage gap is once again as large as it was in the 1950s. How did this happen in the world’s most powerful country? And what happened to the “American dream”—the promise of a happier, healthier, more prosperous future—which was once such an inextricable part of our national identity? Drawing on decades of writing about the economy for The New York Times, Pulitzer Prize–winning writer David Leonhardt examines the past century of American history, from the Great Depression to today’s Great Stagnation, in search of an answer. To make sense of the rise and subsequent fall of the American dream, Leonhardt tells the story of the modern American economy as an ongoing battle between two competing forms of capitalism: one that envisions prosperity for most, and one that serves the individual and favors the wealthy. In vivid prose, Ours Was the Shining Future traces how democratic capitalism flourished to make the American dream possible, until the latter decades of the twentieth century when, bit by bit, the dream was corrupted to serve only the privileged few. Ours Was the Shining Future is a sweeping narrative full of innovation and grit, human drama and hope. Featuring the trailblazing figures who helped shape the American dream—Frances Perkins, Paul Hoffman, Cesar Chavez, Robert Kennedy, A. Philip Randolph, Grace Hopper, and more—this engaging history reveals the power of grassroots democratic movements from across the political spectrum. And though the American dream feels lost to us now, Leonhardt shows how Americans—if they commit themselves to transforming the economy, as they did in the past—have the power to revive the dream once more. "The stagnation of living standards for most Americans over the past few decades has been the defining trend of modern life in the United States. Wealth and educational attainment have all slowed to a crawl in the twenty first century, while life expectancy has declined, economic inequality has soared, and the Black-White wage gap is as large as it was when Harry Truman was president. How did this happen in the world's most powerful country? Drawing from decades of writing about the economy for the New York Times, as well as years spent digging through archives, Pulitzer Prize-winning writer David Leonhardt tells the story of the past century of the American economy, starting with the Great Depression and the invention of the term "American dream." UNTITLED explains how the United States built the most prosperous mass economy in history after the Depression, then examines how that economy unraveled after our postwar boom. Its central argument is that three forces, above all, have dictated the economy's rise and fall: political power through grass-roots movement, culture, and investment in making life better for the future. Filled with the clear, lucid writing for which Leonhardt is known, UNTITLED is an enlightening economic history, featuring the unforgettable figures who helped shape the American dream: Frances Perkins, Eisenhower, Cesar Chavez, Betty Friedan, Robert Kennedy, Grace Hopper, Paul Hoffman, and more"-- Provided by publisher