Flat Broke in the Free Market: How Globalization Fleeced Working People

Growing up in an African American working-class family in the Midwest, Jon Jeter watched the jobs undergirding a community disappear. As a journalist for the Washington Post (twice a Pulitzer Prize finalist), he reported on the freemarket reforms of the IMF and the World Bank, which in a single generation created a transnational underclass.Led by the United States, nations around the world stopped making things and starting buying them, imbibing a risky cocktail of deindustrialization, privatization, and anti-inflationary monetary policy. Jeter gives the consequences of abstract economic policies a human face, and shows how our chickens are coming home to roost in the form of the subprime mortgage scandal, the food crisis, and the fraying of traditional social bonds (marriage). From Rio de Janeiro to Shanghai to Soweto to Chicago's South Side and Washington, DC, Jeter shows us how the economic prescriptions of "the Washington Consensus" have only deepened poverty--while countries like Chile and Venezuela have flouted the conventional wisdom and prospered.

Author: Jon Jeter
Publisher: W. W. Norton & Company
Published: 05/01/2009
Pages: 258
Binding Type: Paperback
Weight: 0.73lbs
Size: 8.50h x 5.50w x 0.58d
ISBN: 9780393350012

About the Author
Jeter, Jon: - Jon Jeter was the Washington Post bureau chief for southern Africa from 1999 to 2003, and the Post's bureau chief for South America from 2003 to 2004. He now lives in Brooklyn.