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Obamanomics: How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics (Economics in the Obama Presidency) [Paperback]

John R. Talbott

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Book Description

July 1 2008

Barack Obama’s greatest strength has been his ability to bring the country together in a meaningful dialog. For far too long the divisions among races, religions, cultures, and genders have prevented Americans from coming together to solve the most important problems of our generation:

  • As the Obama administration takes on the current economic crisis amid accusations of planning a socialist system, economics and political writer John R. Talbott argues that such complex problems found both at home and abroad cannot just be left to the actions of government or the free market business world, or the Bush administration's version of Reagonomics that still sticks to a “trickle-down” policy.

    The change that Talbott sees from a Barack Obama presidency is one based on justice and cooperation, principles that have not held sway in Washington, DC for a very long time. Obamanomics, infused with Obama’s speeches, campaign policy statements, and other writings, describes not just a government but a NATION acting according to democratic principles to reform lobbying, banking, and housing as well as restore economic growth, address the healthcare system, improve education, and find solutions to our aging population and declining energy sources.

    Once emphasis is placed on citizen involvement, real solutions become apparent to our most pressing problems. The American values of goodness, justice, and fairness is reflected in this man with roots from Kenya, Kansas, Hawaii, and Illinois can once again be incorporated into our economic and financial system.

    A former investment banker for Goldman Sachs, John R. Talbott is the author of four books on economics and politics, including The Coming Crash in the Housing Market making him one of the first to predict the current housing and mortgage crisis. He has appeared on CNN, Fox News, CNBC, and CBS Marketwatch and has written for The Wall Street Journal, the Financial Times, and the Boston Globe.

Product Details

  • Paperback: 256 pages
  • Publisher: Seven Stories Press (July 1 2008)
  • Language: English
  • ISBN-10: 1583228659
  • ISBN-13: 978-1583228654
  • Product Dimensions: 20.9 x 14.5 x 1.6 cm
  • Shipping Weight: 240 g
  • Amazon Bestsellers Rank: #1,257,367 in Books (See Top 100 in Books)

Product Description

About the Author

A former investment banker for Goldman Sachs and Visiting Scholar at UCLA's Anderson School of Management, John R. Talbott is the author of six books on economics and politics, including Obamanomics. He has written for The Wall Street Journal, The Financial Times, and The Boston Globe, and appeared as a commentator on CNN, Fox, CNBC, and CBS.

Customer Reviews

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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 3.4 out of 5 stars  22 reviews
45 of 54 people found the following review helpful
3.0 out of 5 stars Clear, but disappointing Aug. 16 2008
By CJ - Published on Amazon.com
Please don't get thrown off with an impression of a three star rating. This book has its strong points - it has clear and crisp prose, the section on home ownership is great (not surprising given the author's reputation), he avoids getting bogged down in statistics, and he goes to painful lengths explaining a few areas where he disagrees with what Obama presents in his speeches. Unfortunately, as a complete volume, I walked away with the impression that this is a summary of Obama's policy views, with a little bit of the author's opinion sprinkled in. Starting every chapter with an excerpt of an Obama speech is good propaganda, but lacks policy analysis depth. With a title of Obamanomics, I was hoping for a better explanation of why bottom-up economics is better than trickle-down, but instead I bought 200 pages of policy summary, a lot I could have gotten free off a website. Perhaps in this election year, this book will convince some swing voters who want a brief summary of how Obama will possibly be different, but explanations of why he will be different are lacking.
28 of 37 people found the following review helpful
1.0 out of 5 stars Horrid July 19 2009
By C. James - Published on Amazon.com
I cannot believe that this horrid excuse for a book was ever published. I only got 1/2 way through before I literally threw it in the garbage. Not only due to the shoddy writing style...but for god sakes, look at the end notes that he incessantly refers to. After the first mention of statistics I thought something seemed a little fishy. This buffoon of a writer actually (and repeatedly) cites his own previous publications, disreputable sources...and Wikipedia. You would be far better off having a discussion on the subject with your waitress at Denny's.
5 of 7 people found the following review helpful
3.0 out of 5 stars Very interesting Dec 14 2008
By Bloose - Published on Amazon.com
Format:Paperback|Verified Purchase
I found this book very interesting but not quite what I expected. I was expecting a more detailed explanation of exactly why bottom up economics will work much better than trickle down has. With historical data or accepted financial theory to back it up. This is an argument I have been making for years and was hoping this would give me some concrete facts and statistics to support this idea. A lot of the book instead were suggestions by the author of how Obama should run his administration. I agree with much of it, though not all, but am still left with little historic proof of the concept.

I definitely recommend the book because as I said there are some very interesting ideas in it.
17 of 25 people found the following review helpful
3.0 out of 5 stars Liberty Vs. Equality Sept. 17 2008
By T. O'Connor - Published on Amazon.com
I read this book with an open mind and a longing for the insights to Obama and while Talbott's writing was clear, it was a bit naive. His insistence on economic justice as the fix to our financial issues is nothing more than redistribution of wealth. His disdain for Americans who want a 12000 square foot house and a Hummer reveals a deep bias. Of course no one needs that much space, but in this country we value liberty and freedom to choose. It's not the governments place to decide what we need and/or want.
One of Obamas campaign promises is to raise taxes on the wealthy, those making over $250K a year. Talbott says the current system 'gives money to top earners", when in fact the system allows top earners to keep more of the money they have earned. I think this basic difference in economic viewpoint is what irked me the most, being one of those 'lucky' few that Obama considers rich. He seems to know that the 'rich will not reinvest their extra money, they will put in a savings account. This is how it works. I have two kids in private college. They couldn't get into the UC system for their majors because they were impacted. I pay 40K a year, per student. I am too rich to qualify for any aid. So any and all extra money we get to keep is going to private colleges.
Most people considered wealthy work just as hard as those who make less money, so it's very difficult to not see Obama's policies as nothing more than socialism wrapped in a pretty package and topped with a pinch of guilt.
33 of 49 people found the following review helpful
4.0 out of 5 stars A reasoned call for some economic justice. Aug. 24 2008
By Preston C. Enright - Published on Amazon.com
"Obamanomics" presents some of the approaches an Obama administration would employ to lower the debt, close the gap between the rich and poor, and lessen the enormous influence corporations have on U.S. and global society in general The Corporation. There is a tendency among supporters of plutocracy to ridicule those who criticize corporations, but it's a critique that's even more necessary now than it was when Teddy Roosevelt was trust-busting, and when Thomas Jefferson was saying, "I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial of strength, and bid defiance to the laws of our country."
Obama does not accept money from lobbyists, which is a stark contrast to John McCain who welcomes lobbyists into his "straight-talk" bus McCain: The Myth of a Maverick.

Talbott points out that an Obama administration would be friendlier toward the working class, which has suffered tremendously under the Bush administration Screwed: The Undeclared War Against the Middle Class - And What We Can Do about It (BK Currents (Paperback)). As people are pressured to work more hours while losing benefits, CEOs and the investor class walk off with wheel barrows full of money. To add insult to injury, a lot of the wealthy's so-called "earnings" come about through taxpayer investment in research and development, tax credits, government purchases, and countless other forms of socialism for the rich Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill).

An Obama administration will face all sorts of obstacles to creating real change. Our plutocracy is deeply entrenched and ruthless The Best Democracy Money Can Buy. Nevertheless, this book shows that there is a movement developing that is bigger than Obama and is doing its own work to advance causes like worker rights A Country That Works: Getting America Back on Track, Fair Trade Fair Trade for All: How Trade Can Promote Development, and sustainability Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value, and Build Competitive Advantage. Even if the right-wing rigs this election (see books like "How to Rig an Election: Confessions of a Republican Operative" and DVDs such as "Hacking Democracy"), concerned people will continue the paradigm shift that is reflected in the Obama phenomenon and in journals like Yes!. Whether it will grow large enough and quickly enough is hard to say, but it's fun to watch its development and to find ways to make our own contributions Getting a Grip: Clarity, Creativity, and Courage in a World Gone Mad.

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