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Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It, by Richard V. Reeves
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Review
"Bracing, head-clearing and ultimately inspiring. With rigor and wit [this] book show how millions of successful, hard-working Americans, often with the best of intentions, have helped build a society where birth matters more than brilliance. Impassioned, data-driven and focused on practical solutions, "Dream Hoarders" is a fine cure for an age of stale, cynical politics."Â - David Rennie, US Bureau Chief, The Economist"A great, short book" - Annie Lowrey, The Atlantic"Dream Hoarders is a slim and engaging book which can be read in an afternoon, but whose message lingers for longer." The Economist"Recently, scholars and social activists have set off alarm bells about the rising concentration of income among the top one percent. Richard Reeves urges us to turn our attention to a wider slice of affluent Americans - the top fifth - and the result is a devastating empirical portrait of damage done to "the bottom eighty"...This captivating and stirring book is likely to make many of its readers uncomfortable." - Janet C. Gornick, Professor of Political Science and Sociology, CUNYÂ "Richard Reeves is has long been one of the most authoritative, insightful and sage voices on the big questions gripping modern societies. Here he tackles one of the most urgent - inequality and how to solve it - and comes up with serious answers." - Jonathan Freedland, The Guardian"We have met the enemy, and he is us: we who were smart enough to pick the right parents and now occupy the high ground in post-industrial America. Richard Reeves makes his case brilliantly and--a tough act to pull off--engagingly." - Charles Murray, AEI, author of Coming Apart"Warning: Reeves' book will challenge some of your assumptions, no matter what your views are...Dream Hoarders will shake you up, teach you a lot and make you think much harder."Â - E.J. Dionne Jr., Author of Why the Right Went Wrong
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From the Author
This book seems to have hit a nerve. Even when people don't agree with me (and a lot of people do not) I feel good if the conversation about inequality becomes a bit more personal, and a bit less focused on the super-rich. Very pleased it made it onto the Economist list of Books of the Year 2017.
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Product details
Hardcover: 240 pages
Publisher: Brookings Institution Press (June 13, 2017)
Language: English
ISBN-10: 081572912X
ISBN-13: 978-0815729129
Product Dimensions:
6.2 x 0.8 x 9.2 inches
Shipping Weight: 1.1 pounds (View shipping rates and policies)
Average Customer Review:
3.7 out of 5 stars
137 customer reviews
Amazon Best Sellers Rank:
#50,349 in Books (See Top 100 in Books)
I am Canadian and currently living in the United States. Coming from solidly lower middle class roots, I am certain that I never would have attended University if I had been born here. It accurately explains in detail a lot of what I have personally noticed about how class works in America. While Canada is only marginally better in terms of class mobility, I prefer living in a society where there is that margin and plan to move back if I have children. As an elementary school teacher here, I personally can testify to how segregated and unfair the public school system is in at least Washington, Oklahoma and Florida. Simply separating funding of public schools from property values would be a huge start. America is really mortgaging it’s future by not educating its youth just so that the wealthy can stay wealthy. I see countless missed opportunities everyday. Bright children capable of doing so much more but who will end up working meaningless jobs stocking shelves at Walmart or flipping burgers their whole lives simply because they were born in the wrong zip code. The one thing I found lacking was better data to support his conclusions. But then again it would have made the book less readable and inaccessible to a general audience.I bought a copy for my upper middle class in-laws hoping that it might make them understand at least why I wince every time they rejoice about getting coveted internships for their friends daughter/son by using this or that connection.
This is an informative and compelling look at the growth of income inequality in the US, but it presents only part of the picture. To begin with what's new and different in this book, it looks at income inequality in a different focus. Instead of zeroing on the one percent as so many have done, Reeves focusses on the 19% -- those whose incomes come in between the 80th and the 99th percentile, a group that he describes as the upper middle class. The incomes of this group have grown much faster than incomes for the country as a whole (if less rapidly than the incomes of the 1%). Moreover, income gains have been bolstered and protected by other benefits, political and social in nature. The tax deduction for mortgage interest and the 529 college savings programs, for example, mostly benefit the upper middle class. The children of the 19%, on average, attend far better schools than most American children, and are far likelier to attend and graduate from college. This is not accidental, Reeves argues. Upper middle class parents are fiercely focussed on getting their children the best educations possible, by restrictive zoning and legacy admissions as well as by intensive home support. It's a compelling argument, and we -- most readers of this book are probably members of the upper middle class -- need to recognize that the deck is stacked in our favor.But it's also an incomplete argument. An excellent review of the book in "The Economist" points out the basic problem of focussing on the 19% rather than on the 1%, saying "Since around 2000 the incomes of the upper middle class, excluding the top 1%, have not grown by much, and the income premium earned by those with university degrees has plateaued." Over that period, the income of the 1% has soared: in fact, since 2009, the 1% has copped about 95% of ALL income gains. Politically, focussing on the barriers that the upper middle class has established to protect it's position is an admirable goal. But so is focussing on the massive income gains that the upper class -- if we may so call the 1% -- has wrested from the system. All in all, this book is well worth reading, but remember that the 19% is only part of the problem.
This book analyses what Americans in the top 20% income brackets do to make their children the most qualified for the best colleges and jobs and how this causes inequality and lack of upward mobility. He does not say this is the only cause, with mass immigration of unskilled workers being another one. He proposes possible policy solutions and points out that many of them are opposed by both Democrats and Republicans. THe biggest potential value of this book for parents is that it is a primer of how to get your children into the best schools and jobs although it will be harder for you than somebody making $200K a year. I plan to give this book to my son for that purpose. You may not agree with the author that the current situation is unfair or agree with all his policy recommendations but it will be good for you to know details of the situation.
This is a quick, overview perspective book. There are some unique points, but the actual content is probably better covered in Charles Murray's Coming Apart or Our Kids by Robert Putnam. However, I give Reeves credit for not holding back and providing some much needed honesty.
The most important part is that Reeves himself falls into the category he discusses, the top 20% of earners in the US.Because of Reeves' position this is not a book about guilt. It is a book about self-reflection on our society's idea of the "self made man". How self made are the children who have a golden parachute, and how much opportunity are we taking away from kids who maybe would have gotten that internship if you hadn't made that call? This book is genuinely about wealth (which to a great extent means white) privilege and the responsibilities that comes with these.What makes this topic so difficult is the fact that we feel like, there's so little we can do about the whole thing - I'm gonna give to the ACLU every month and just have to sit feeling bad that our parents' are going to leave us a million dollar house - Dream Hoarders offers real, tangible, put into motion tomorrow suggestions for how to negate the hoarding of privileges that the upper middle class is doing.Reeves is also pretty funny in that dry, I'm mocking you but you accept it because you like me way, that only British people can pull off so the book is enormously readable too (for a book on socioeconomics).
This book was okay. He makes some good points about the causes of inequality. But for some reason I feel like this is just half of a book. The same content is repeated in the 2nd half of this one...
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Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It, by Richard V. Reeves PDF
