
In "Ours Was the Shining Future," Pulitzer-winner David Leonhardt unravels America's economic promise and its uneven reality. The book sparks fierce debate among policymakers - why did the American Dream flourish, then falter for millions while enriching others?
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Imagine growing up in a country where your chances of earning more than your parents were virtually guaranteed-92% for children born in 1940. Now fast-forward to those born in 1980, where that chance has plummeted to barely 50%. This stark decline represents what economist Raj Chetty calls the "fading American dream," the central concern of David Leonhardt's compelling narrative about America's economic transformation. The book traces how the most prosperous mass economy in history was built after the Great Depression, and how it slowly unraveled starting in the 1970s. At its core lies the concept of "democratic capitalism"-a system where government guides the economy, recognizing both the power and weaknesses of free markets. This approach delivered remarkable results for nearly fifty years, creating a thriving middle class before America began dismantling it in favor of a more aggressive capitalism that prioritized corporate interests over worker welfare.
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