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The Expendables

How the Middle Class Got Screwed by Globalization

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The Expendables

Written by: Jeff Rubin
Narrated by: Jeff Rubin
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About this listen

From the number one best-selling author of Why Your World Is About to Get a Whole Lot Smaller, a provocative, far-reaching account of how the middle class got stuck with the bill for globalization, and how the blowback - from Brexit to Trump to populist Europe - will change the developed world.

Real wages in North America have not risen since the 1970s. Union membership has collapsed. Full-time employment is beginning to look like a quaint idea from the distant past. If it seems that the middle class is in retreat around the developed world, it is.

Former CIBC World Markets Chief Economist Jeff Rubin argues that all this was foreseeable back when Canada, the United States, and Mexico first started talking free trade. Labor argued then that manufacturing jobs would move to Mexico. Free-trade advocates disagreed. Today, Canadian and American factories sit idle. More steel is used to make bottle caps than cars. Meanwhile, Mexico has become one of the world's biggest automotive exporters. And it's not just NAFTA. Cheap oil, low interest rates, global deregulation, and tax policies that benefit the rich all have the same effect: the erosion of the middle class.

Growing global inequality is a problem of our own making, Rubin argues. And solving it won't be easy if we draw on the same ideas about capital and labor, right and left, that led us to this cliff. Articulating a vision that dovetails with the ideas of both Naomi Klein and Donald Trump, The Expendables is an exhilaratingly fresh perspective that is at once humane and irascible, fearless and rigorous, and most importantly, timely. GDP is growing, the stock market is up, and unemployment is down, but the surprise of the book is that even the good news is good for only one percent of us.

©2020 Jeff Rubin (P)2020 Penguin Random House Canada
Economics International Relations Political Science Social Sciences Sociology United States Middle class Transportation Employment Business Economic disparity US Economy
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What the critics say

NATIONAL BESTSELLER

SHORTLISTED FOR THE 2021 NATIONAL BUSINESS BOOK AWARD

“Rubin . . . leverages his firm grasp of geopolitics and economics to offer not only a primer on macroeconomics, but also on how globalization—that is, the process of opening up international markets—has routed the middle class and propped up the elite.” —Winnipeg Free Press

“The latest from the author of Why Your World Is About to Get a Whole Lot Smaller continues his disruptive ways in this analysis of how the collapse of union membership and the near obsolescence of full-time employment is squeezing out the middle class. . . . [Rubin] is a fiercely independent thinker.” —NOW

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Balanced and informative

So nice to hear someone talk about the pros and cons of things without being very partisan. Some analysis underneath the tweets and social media headlines is such a relief. And I believe it to be generally true what he says.

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Globalizations victim - the middleclass.

Jeff Rubin makes understanding the slow decline that we all have experiences over the past 30 years from parents losing good paying blue collar jobs, the decline of making stuff in our own countries to the massive movement of migrants looking for a better life - the only people benefiting from globalization are the extreme rich who make the robber barons of the last 1800s look darn well humble compared with the likes of Jeff Bezos or Mark Zuckerberg. The richest men on the planet every in recorded human history pay NO income tax, while OECD governments don't have the funds to repair road, bridges or provided universal health care. The same situation at the end of the first attempt at globalization in the late 1800s led to fascisms and communism and WWII. We appear to be heading toward another populist Armageddon 100 years later with the rise of the extreme right and left undermining liberal democracies around the world. Jeff Rubin's review is not steeped in ideological assumptions - Donald Trump's tariff war and countering the WTO actually did bring back production to the USA, while his tax cuts helped the 0.01% of the richest person on the planet. It is a very good read to get a sense of why democracies are failing and why economic inequality is the issue ... not all the other crap society is focused on.

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Insightful, informative and well written

If the reader (listener) wants to get beyond the political and media hype to better understand the tumultuous economic, social, cultural and political divide across the USA and much of the Western World, this is the book for you!

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a must read

Jeff uses economic forces to explain the tumultuous political forces sweeping the world. can't wait for follow up

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An eye opener

A very well thought out, poignant look at today's global economic system with plenty of historical reference. I just wonder if the expendables will be reading this book in any significant numbers.

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Pro Trump, pro Putin, pro populism

The economic argument presented lacks in context, details and self awareness it's very one sided.

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