Deaths of Despair and the Future of Capitalism

In their book "The Deaths of Despair: The Rise of Suicide, Drug Overdose, and Alcoholism in the United States," economists Anne Case and Angus Deaton examine the rise in deaths of despair among the working class in the United States, attributing it to the weakening position of labor, the growing power of corporations, and the rapacious health-care sector. They offer solutions to rein in capitalism's excesses and make it work for everyone.

Format: Paperback / softback
Length: 336 pages
Publication date: 02 March 2021
Publisher: Princeton University Press

A groundbreaking exploration of the fatal flaws in capitalism, written by economist Anne Case and Nobel Prize winner Angus Deaton, has been hailed as a New York Times Bestseller, a Wall Street Journal Bestseller, a New York Times Notable Book of 2020, a New York Times Book Review Editors Choice, and a Shortlisted for the Financial Times and McKinsey Business Book of the Year. The book delves into the alarming rise of deaths of despair, including suicide, drug overdose, and alcoholism, which have claimed hundreds of thousands of American lives. Anne Case and Angus Deaton offer a comprehensive account of this surge, shedding light on the social and economic forces that are making life increasingly difficult for the working class.

As college-educated individuals become healthier and wealthier, adults without a degree are facing a dire situation, with deaths from pain and despair on the rise. Case and Deaton attribute this crisis to the weakening position of labor, the growing power of corporations, and the exploitative nature of the healthcare sector, which redistributes working-class wages into the pockets of the wealthy. This critically important book paints a troubling portrait of the American dream in decline and provides solutions that aim to rein in capitalism's excesses and make it work for everyone.

The authors argue that the decline of the middle class is not just a problem for the United States but a global phenomenon. They highlight the growing inequality between the rich and the poor, which has led to a concentration of wealth and power in the hands of a few. The book also explores the impact of technological advancements on the workforce, with automation and outsourcing leading to job losses and reduced wages for many workers.

Case and Deaton propose a range of solutions to address these challenges, including increasing the minimum wage, implementing universal healthcare, and promoting worker ownership and collective bargaining. They also advocate for policies that promote economic growth and job creation, such as investing in education and infrastructure.

The book's insights are relevant not only to the United States but to countries around the world facing similar economic and social challenges. It serves as a warning that the flaws in capitalism can have devastating consequences for the working class and that urgent action is needed to address these issues.

In conclusion, "The Deaths of Despair" is a groundbreaking work that sheds light on the fatal flaws in capitalism and provides solutions to address the growing inequality and exploitation that are plaguing the working class. It is a must-read for anyone interested in understanding the challenges facing our society and working towards a more equitable and prosperous future.

Weight: 306g
Dimension: 134 x 202 x 30 (mm)
ISBN-13: 9780691217079