The Expendables

How the Middle Class Got Screwed By Globalization

2020

by Jeff Rubin

The Expendables: How the Middle Class Got Screwed By Globalization offers a provocative and far-reaching analysis of the economic forces that have marginalized the middle class in the developed world. Jeff Rubin, former CIBC World Markets Chief Economist, presents a compelling case that the decline of the middle class was not only predictable but is a direct consequence of policy choices that favored globalization.

Through a detailed exploration of trends such as stagnant wages in North America since the 1970s, the collapse of union membership, and the shift away from full-time employment, Rubin illustrates the retreat of the middle class. He highlights how agreements like NAFTA and global economic policies such as deregulation and tax legislation that favor the wealthy have contributed to this erosion.

Rubin's argument is not only economic but also touches on the political backlash seen in events like Brexit, the rise of Donald Trump, and the growth of populism in Europe. He suggests that resolving these issues will require rethinking the fundamental ideas about capital and labor that have shaped the current system.

The Expendables is a critical examination of the developed world's economic landscape, offering insights that are both humane and rigorous, and calling for a more equitable future.

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