Are the Rich Necessary?

Are the rich necessary? Do we need more millionaire taxes? Is Wall Street greed corrupting our politics? Is capitalism even compatible with democracy?  Do free markets cause recessions? Is the profit system to blame for the recent financial crash? Are there alternatives?

 In ARE THE RICH NECESSARY?: Great Economic Arguments and How They Reflect Our Personal Values, Hunter Lewis examines the most fundamental economic questions that underlie society. An introduction to economics for laymen, the book covers both sides of the great economic arguments of our day. In an always lively, point-counterpoint style, he challenges conventional positions on both sides of each issue.

Stepping aside from the current economic battle zone, Lewis next lays out the different value systems that guide all our economic choices. By understanding the personal values embedded in the arguments, we can make better sense of them.

Finally, Lewis proposes a new way to bridge the extremes of super rich and poor, of free markets and safety nets; a solution that would involve a massive expansion of the nonprofit sector through tax credits. His solution is to build up the nonprofit sector so that it will become a full partner of government and the private sector and be able to provide real solutions in the areas of social services, health, housing, and education. Lewis’s solution offers a forward-thinking alternative to the bitter and often sterile debate between friends and foes of “big” government regarding taxing the rich and creating economic equality.

With financial disparity and economic justice among the biggest issues on the agenda of the Obama administration, Lewis asks us to make our own judgment based on our personal values about the pros and cons of the rich and solutions to this vexing problem.

In addition, Federal Reserve policy and its impact on monetary inflation, the money supply, and the economy are explained, providing both an understanding of current Fed policies whether they lead to real economic recovery or more inflation or future economic collapse.

You may pick up this book to understand the recent economic crisis or to answer some vital questions that affect the way you vote, your job, and your financial future. Either way, you will have to rethink some of your most cherished beliefs.

About the Author

Hunter Lewis is the author of six books in the related fields of economics and personal values, as well as numerous magazine, newspaper, and online articles. His most recent book is Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts.

A graduate of Harvard University, Lewis co-founded Cambridge Associates, LLC, a global investment firm whose clients include leading research universities, charitable organizations, and families. He has served on boards and committees of fifteen not-for-profit organizations, including environmental, teaching, research, and cultural organizations, as well as the World Bank.

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