A hard-hitting indictment of the data underpinning federal economic policies.
Americans are underemployed, broke, and desperate far beyond what federal statistics suggest, according to Ludwig’s searching economic manifesto.
The author, who served as the comptroller of the currency in the U.S. Department of the Treasury during the Clinton administration and, in 2019, founded the Ludwig Institute for Shared Economic Prosperity, argues that measurements of unemployment, wages, and inflation understate the economic distress of middle- and working-class Americans. In this book, he proposes alternative metrics that, he says, paint a much clearer picture. He starts with the headline unemployment rate, called U-3, which excludes part-time workers seeking full-time employment and those earning less than poverty-line wages. Adding them, he asserts, would give a “True Rate of Unemployment”—people seeking full-time jobs with decent pay—of roughly 25 percent. Ludwig also criticizes the U.S. Bureau of Labor Statistics’ median weekly wage measurement, which doesn’t count unemployed workers or part-time employees; a True Weekly Earnings metric, he says, would peg median annual earnings at $9,778 less than the BLS numbers, he calculates. He goes on to condemn the Consumer Price Index for understating inflation for low-income Americans who spend most of their money on food, housing, and healthcare; these prices have climbed 35 percent faster than the CPI, according to his True Living Cost metric. These new measurements, the author argues, make clear that inequality has skyrocketed. In lucid, down-to-earth prose, Ludwig distills complex economic and statistical issues into easily digestible reasoning, illustrated with arresting examples of odd statistical assumptions that ignore kitchen-table realities; in CPI calculations, he notes insightfully, “the price for a second home has more weight than the prices charged for bread, pork, eggs, milk, chicken, and potatoes combined.” His writing takes on a sharp moral edge when he evokes the social repercussions of poverty and hopelessness in working-class America: “there are rows of unpainted, and in some cases burnt-out, row houses in once-thriving places like Baltimore, St. Louis, Cleveland, and Detroit—places where the American dream seemed plausible not long ago.” The result is an incisive, illuminating critique of the statistics of economic orthodoxy.
A hard-hitting indictment of the data underpinning federal economic policies.Pub Date: Sept. 30, 2025
ISBN: 9781633311343
Page Count: 200
Publisher: Disruption Books
Review Posted Online: June 25, 2025
Review Program: Kirkus Indie
BOOK REVIEW
A short, smart analysis of perhaps the most famous passage in American history reveals its potency and unfulfilled promise.
Words that made a nation.
Isaacson is known for expansive biographies of great thinkers (and Elon Musk), but here he pens a succinct, stimulating commentary on the Founding Fathers’ ode to “life, liberty, and the pursuit of happiness.” His close reading of the Declaration of Independence’s second sentence, published to mark the 250th anniversary of the document’s adoption, doesn’t downplay its “moral contradiction.” Thomas Jefferson enslaved hundreds of people yet called slavery “a cruel war against human nature” in his first draft of the Declaration. All but 15 of the document’s 56 signers owned enslaved people. While the sentence in question asserted “all men are created equal” and possess “unalienable rights,” the Founders “consciously and intentionally” excluded women, Native Americans, and enslaved people. And yet the sentence is powerful, Isaacson writes, because it names a young nation’s “aspirations.” He mounts a solid defense of what ought to be shared goals, among them economic fairness, “moral compassion,” and a willingness to compromise. “Democracy depends on this,” he writes. Isaacson is excellent when explaining how Enlightenment intellectuals abroad influenced the founders. Benjamin Franklin, one of the Declaration’s “five-person drafting committee,” stayed in David Hume’s home for a month in the early 1770s, “discussing ideas of natural rights” with the Scottish philosopher. Also strong is Isaacson’s discussion of the “edits and tweaks” made to Jefferson’s draft. As recommended by Franklin and others, the changes were substantial, leaving Jefferson “distraught.” Franklin, who emerges as the book’s hero, helped establish municipal services, founded a library, and encouraged religious diversity—the kind of civic-mindedness that we could use more of today, Isaacson reminds us.
A short, smart analysis of perhaps the most famous passage in American history reveals its potency and unfulfilled promise.Pub Date: Nov. 18, 2025
ISBN: 9781982181314
Page Count: 80
Publisher: Simon & Schuster
Review Posted Online: Aug. 29, 2025
Kirkus Reviews Issue: Oct. 1, 2025
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
SEEN & HEARD
A familiar format, but a timely reminder that cities are made up of individuals, each with their own stories.
Portraits in a post-pandemic world.
After the Covid-19 lockdowns left New York City’s streets empty, many claimed that the city was “gone forever.” It was those words that inspired Stanton, whose previous collections include Humans of New York (2013), Humans of New York: Stories (2015), and Humans (2020), to return to the well once more for a new love letter to the city’s humanity and diversity. Beautifully laid out in hardcover with crisp, bright images, each portrait of a New Yorker is accompanied by sparse but potent quotes from Stanton’s interviews with his subjects. Early in the book, the author sequences three portraits—a couple laughing, then looking serious, then the woman with tears in her eyes—as they recount the arc of their relationship, transforming each emotional beat of their story into an affecting visual narrative. In another, an unhoused man sits on the street, his husky eating out of his hand. The caption: “I’m a late bloomer.” Though the pandemic isn’t mentioned often, Stanton focuses much of the book on optimistic stories of the post-pandemic era. Among the most notable profiles is Myles Smutney, founder of the Free Store Project, whose story of reclaiming boarded‑up buildings during the lockdowns speaks to the city’s resilience. In reusing the same formula from his previous books, the author confirms his thesis: New York isn’t going anywhere. As he writes in his lyrical prologue, “Just as one might dive among coral reefs to marvel at nature, one can come to New York City to marvel at humanity.” The book’s optimism paints New York as a city where diverse lives converge in moments of beauty, joy, and collective hope.
A familiar format, but a timely reminder that cities are made up of individuals, each with their own stories.Pub Date: Oct. 7, 2025
ISBN: 9781250277589
Page Count: 480
Publisher: St. Martin's
Review Posted Online: Aug. 1, 2025
Kirkus Reviews Issue: Sept. 1, 2025
© Copyright 2025 Kirkus Media LLC. All Rights Reserved.
Follow
Popular in this Genre
We can’t wait for you to join Kirkus!
It’s free and takes less than 10 seconds!
Already have an account? Log in.
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
Welcome Back!
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
