The Fantasy Economy: Neoliberalism, Inequality, and the Education Reform Movement

Wage stagnation, growing inequality, and even poverty itself have resulted from decades of neoliberal decision making, not the education system, writes Neil Kraus in his urgent call to action, The Fantasy Economy. Kraus claims the idea that both the education system and labor force are chronically deficient was aggressively and incorrectly promoted starting in the Reagan era, when corporate interests and education reformers emphasized education as the exclusive mechanism providing the citizenry with economic opportunity. However, as this critical book reveals, that is a misleading articulation of the economy and education system rooted in the economic self-interests of corporations and the wealthy.

The Fantasy Economy challenges the basic assumptions of the education reform movement of the last few decades. Kraus insists that education cannot control the labor market and unreliable corporate narratives fuel this misinformation. Moreover, misguided public policies, such as accountability and school choice, along with an emphasis on workforce development and STEM over broad-based liberal arts education, have only produced greater inequality.

Ultimately, The Fantasy Economy argues that education should be understood as a social necessity, not an engine of the neoliberal agenda. Kraus' book advocates for a change in conventional thinking about economic opportunity and the purpose of education in a democracy.

Author: Neil Kraus
Publisher: Temple University Press
Published: 10/06/2023
Pages: 282
Binding Type: Hardcover
Weight: 1.32lbs
Size: 9.00h x 6.00w x 0.81d
ISBN: 9781439923702

Review Citation(s):
Choice 05/01/2024

About the Author
Neil Kraus is Professor of Political Science at the University of Wisconsin, River Falls. He is the author of Majoritarian Cities: Policy Making and Inequality in Urban Politics and Race, Neighborhoods, and Community Power: Buffalo Politics, 1934-1997.