Book

A Note from the Author

I bring the perspective of a classically-trained economist who gradually awakened to the realities behind the gaping disparities in the US economy. Critically, the book details the ways in which the use of false narratives—meritocracy, a supposedly “post-racist” society, Friedman’s “maximize shareholder value” dictum for businesses—has left countless millions behind. The history of those narratives, especially their use by the powerful in crafting stingy government policy and profit-obsessed business norms, is both fascinating and chilling. The book is augmented by interviews with residents of low income communities, predominantly communities of color, so that their voices add force to the data and analysis presented in the book. The writing is for a general audience, and eschews economic jargon in favor of accessible, plain-English explanations.

I am far from the first to write on problems of income and wealth inequality. But the perspective in this book is unique. It is an economist’s non-political but passionate take on one of the most important issues facing our country: How to live up to our land-of-opportunity aspiration, to bring everyone into the economic fold, to the benefit of them and everyone else. 

The narratives sketched above, which  reside deep in our national DNA, allow us to excuse poverty and lack of access as the unavoidable outcomes of a free-market, race-blind, capitalist economy. The data, history and personal stories make it clear how false and corrosive those narratives are. It’s well past time to discard them, and to rebuild a an economy that really does offer opportunity to those who are willing to contribute. I know this book will be controversial (perhaps banned in Florida), but it is driven by hard facts and empathy, not ideology. I hope it will hold some appeal for both sides of the political divide.

About the Book:

How our false narratives about post-racism and meritocracy have been used to condone egregious economic outcomes—and what we can do to fix the system.

The Myth That Made Us exposes how false narratives—of a supposedly post-racist nation, of the self-made man, of the primacy of profit- and shareholder value-maximizing for businesses, and of minimal government interference—have been used to excuse gross inequities and to shape and sustain the US economic system that delivers them. Jeff Fuhrer argues that systemic racism continues to produce vastly disparate outcomes and that our brand of capitalism favors doing little to reduce disparities. Evidence from other developed capitalist economies shows it doesn’t have to be that way. We broke this (mean-spirited) economy. We can fix it.

Rather than merely laying blame at the feet of both conservatives and liberals for aiding and abetting an unjust system, Fuhrer charts a way forward. He supplements evidence from data with insights from community voices and outlines a system that provides more equal opportunity to accumulate both human and financial capital. His key areas of focus include universal access to high-quality early childhood education; more effective use of our community college system as a pathway to stable employment; restructuring key aspects of the low-wage workplace; providing affordable housing and transit links; supporting people of color by serving as mentors, coaches, and allies; and implementing Baby Bonds and Reparations programs to address the accumulated loss of wealth among Black people due to the legacy of enslavement and institutional discrimination. Fuhrer emphasizes embracing humility, research-based approaches, and community involvement as ways to improve economic opportunity.