The Vanishing American Dream

"In the twentieth century, the American social contract held that if you worked hard and played by the rules, you would have the opportunity to earn a good standard of living. Today, in the midst of record levels of placed-based and economic inequality, American capitalism no longer holds the promise it once did. To restore the promise of America’s social contract, we need as many perspectives as possible thinking about how to reform modern American capitalism. Gene Ludwig’s thoughtfully edited volume takes us closer to bipartisan consensus and solutions. With contributions from conservative thought leaders, academics, journalists, former Democratic governors, and others, The Vanishing American Dream outlines the problem and reaches consensus across ideological disagreements: Our economy is not working for a vast portion of the population. From that important foundation, the volume offers smart practical solutions for the future of work and our economy."
—Senator Mark R. Warner (D–VA)

"The Vanishing American Dream shines a bright light on how crucial it is that we find a way to achieve more broadly shared opportunity and hope and offers strategies that, with a modicum of political comity, should be achievable. The challenge ahead is for business and political decision makers to take this message to heart. "
—Jack Lew, Former Secretary of the Treasury

" Gene Ludwig’s insightful new book raises timely questions that reveal inconvenient truths about an economic system that is increasingly leaving entire communities behind. The fragile financial foothold of so many—especially black and Latinx— Americans should be concerning to all given what it portends for an interconnected economy based on notions of economic fairness and equal opportunity. The Vanishing American Dream makes a compelling case for policymakers to reexamine traditional analyses of economic indicators that cloud our understanding of the troubling realities facing middle- and lower-income families across our nation today. "
—Wayne Frederick, President of Howard University

"Gene Ludwig’s book is very much worth reading. The issues raised in the book are timely and important. To address the problems the book so clearly highlights, it’s my view that income growth and inequality for low- and moderate-income Americans can only be solved by strong GDP growth and a dynamic market economy. The history of other programs, however well-meaning, are much less effective, if at all."
—Alan Greenspan, Former Chair of the Federal Reserve of the United States

" In this book, Gene nails the inequality equation by compiling thoughtful, credentialed solutions to address our country's pervasive economic problems. Gene and his cohorts advance ideas that are pragmatic, doable, and capable of building a broad, bipartisan consensus. As Gene himself might say, ‘Let’s get on with it to get it done.’"
—Ken Duberstein, Chief of Staff to President Ronald Reagan