Summary of “The Age of Inequality: Corporate America’s War on Working People” by Jeremy Gantz (2017)

Summary of

Finance, Economics, Trading, InvestingWealth and Inequality

Introduction

“The Age of Inequality: Corporate America’s War on Working People” by Jeremy Gantz is a powerful exploration of the growing economic divide in the United States, focusing on how corporate policies and government deregulation have eroded the rights and livelihoods of the working class. This book delves into the history and impact of economic inequality, making a compelling case for understanding the deep-seated issues that have led to the marginalization of working people. With vivid examples and poignant anecdotes, Gantz reveals the human cost of corporate greed and the systematic dismantling of workers’ rights. This summary will provide a comprehensive overview of the book, breaking down its key sections and highlighting the most significant moments and themes.

Section 1: The Rise of Corporate Power

In the opening chapters, Gantz traces the origins of corporate dominance in America, starting with the deregulation efforts of the late 20th century. He discusses the impact of policies introduced during the Reagan administration, which favored corporations and the wealthy, leading to a significant shift in the balance of power between employers and employees.

One of the key examples provided is the decline of union power during this period. Gantz describes how unions, once a formidable force in protecting workers’ rights, were systematically weakened by corporate lobbying and legislative changes. The book highlights the infamous 1981 air traffic controllers’ strike, where President Reagan fired over 11,000 striking workers, marking a pivotal moment in the decline of labor unions. This event signaled to corporations that the government would not stand in the way of their efforts to suppress worker rights.

A memorable quote from this section encapsulates the shift: “The dismantling of unions was not just the breaking of a few organizations, but the breaking of a promise to millions of workers who believed in the American dream.”

Section 2: The Erosion of Workers’ Rights

As the book progresses, Gantz delves deeper into the consequences of corporate power on workers’ rights. He examines how changes in labor laws and the rise of “right-to-work” states have further eroded the ability of workers to organize and negotiate for better conditions. The author provides numerous examples of how corporations have exploited these legal changes to maximize profits at the expense of their employees.

A particularly poignant example is the story of Walmart employees who faced retaliation for attempting to unionize. Gantz describes how the retail giant used surveillance and intimidation tactics to prevent workers from organizing, ultimately leading to the firing of several key union supporters. This example illustrates the lengths to which corporations will go to maintain control over their workforce.

Another memorable quote from this section reflects the growing despair among workers: “In a nation that prides itself on freedom, the right to organize has become a perilous endeavor, fraught with risks that most cannot afford to take.”

Section 3: The Impact on the Working Class

Gantz shifts his focus to the broader impact of corporate policies on the working class, particularly in terms of wages, benefits, and job security. He argues that the increasing wealth gap has led to the creation of a new class of “working poor”—individuals who work full-time but still cannot afford basic necessities due to stagnant wages and rising costs of living.

The author highlights the case of a single mother working at a fast-food chain, struggling to make ends meet despite working multiple jobs. This story is emblematic of the struggles faced by millions of Americans who find themselves trapped in a cycle of poverty, unable to escape despite their best efforts.

Gantz also discusses the decline of benefits such as health insurance and pensions, which were once standard for full-time employees. He points out that many corporations have shifted to hiring part-time or contract workers to avoid providing these benefits, further exacerbating the financial insecurity of the working class.

A key quote from this section underscores the bleak reality: “The promise of a better life through hard work has become a cruel illusion for many, as the ladder to success has been pulled out from under them.”

Section 4: Corporate Influence on Politics

The book then examines the role of corporate money in politics, detailing how lobbying and campaign contributions have shaped legislation to favor the wealthy and powerful. Gantz argues that this influence has led to policies that prioritize corporate profits over the well-being of citizens, further entrenching economic inequality.

One of the most striking examples provided is the Citizens United Supreme Court decision, which allowed unlimited corporate spending in elections. Gantz explains how this ruling has led to an influx of corporate money in politics, drowning out the voices of ordinary citizens and making it nearly impossible for politicians to resist corporate interests.

The author also discusses the revolving door between government and corporate positions, where former politicians often take high-paying jobs in industries they once regulated. This practice, according to Gantz, has created a system where policy decisions are heavily influenced by corporate interests rather than the needs of the public.

A memorable quote from this section captures the essence of corporate influence: “Democracy has been compromised by the very forces it was meant to protect us from, leaving the average citizen with little power to affect change.”

Section 5: The Human Cost of Inequality

In the final sections, Gantz brings the discussion back to the human impact of these policies. He shares stories of individuals and families who have been directly affected by corporate greed and government inaction. From factory closures to wage theft, Gantz paints a vivid picture of the suffering experienced by working people across the country.

One particularly heartbreaking story is that of a community in the Midwest that was devastated by the closure of a manufacturing plant. The plant had been the lifeblood of the town, providing jobs and stability for generations. When it was shuttered, the community was left in ruins, with skyrocketing unemployment and an increase in poverty and crime.

Gantz uses these stories to illustrate the broader consequences of inequality, arguing that the destruction of the working class has far-reaching effects on society as a whole. He suggests that the erosion of economic security leads to a breakdown in social cohesion, with rising inequality fueling division and unrest.

A powerful quote from this section serves as a final indictment of the system: “The American dream has become a nightmare for those left behind by the relentless march of corporate greed.”

Conclusion: The Path Forward

In the concluding chapter, Gantz offers a call to action, urging readers to recognize the dangers of unchecked corporate power and to fight for policies that prioritize the needs of the working class. He advocates for stronger labor laws, increased regulation of corporations, and a more equitable distribution of wealth as essential steps toward reversing the trend of inequality.

Gantz also emphasizes the importance of political engagement, encouraging readers to support candidates and policies that align with the interests of working people rather than corporate elites. He argues that only through collective action can the tide of inequality be turned.

The book closes with a hopeful message, suggesting that change is possible if enough people are willing to stand up and demand it: “The future of America depends on the choices we make today—whether we continue down the path of inequality or work together to build a more just and equitable society.”

Final Thoughts on the Book’s Impact

“The Age of Inequality: Corporate America’s War on Working People” by Jeremy Gantz is a deeply insightful and timely examination of the economic forces that have shaped modern America. By combining rigorous analysis with compelling personal stories, Gantz effectively highlights the urgent need for reform in both corporate practices and government policies.

The book has been praised for its thorough research and clear, accessible writing, making it a valuable resource for anyone interested in understanding the roots of economic inequality. Its relevance to current events, particularly in the context of ongoing debates about wealth distribution and workers’ rights, makes it a must-read for those seeking to engage with these critical issues.

In conclusion, Jeremy Gantz’s work serves as a wake-up call to all who believe in the possibility of a fair and just society. It challenges readers to confront the realities of inequality and to take action in the fight for a more equitable future.

Finance, Economics, Trading, InvestingWealth and Inequality