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A Fabulous Failure
- The Clinton Presidency and the Transformation of American Capitalism
- Narrated by: Tom Campbell
- Length: 17 hrs and 12 mins
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In his classic book Devil’s Bargain, Joshua Green chronicled how the forces of economic populism on the right, led by the likes of Steve Bannon, turned Donald Trump into their flawed but powerful vessel. In The Rebels, he gives an epic account of the long struggle that has played out in parallel on the left, told through an intimate reckoning with the careers of the three political figures who have led the charge most prominently.
Publisher's Summary
When Bill Clinton was elected president in 1992, he ended twelve years of Republican rule and seemed poised to enact a progressive transformation of the US economy, touching everything from health care to trade to labor relations. Yet by the time he left office, the nation's economic and social policies had instead lurched dramatically rightward, exacerbating the inequalities so troubling in our own time.
Nelson Lichtenstein and Judith Stein show how the administration's progressive reformers were stymied by a new world of global capitalism that heightened Wall Street influence, undermined domestic manufacturing, and eviscerated the labor movement. Robert Rubin, Larry Summers, and Al Gore proved champions of this financialized world. Meanwhile, Clinton divided his own party when he relied on Republican votes to overhaul welfare, liberalize trade, and deregulate the banking and telecommunications industries. Even the economic boom Clinton ushered in ended with a series of exploding asset bubbles that his neoliberal economic advisors neither foresaw nor prevented.
A Fabulous Failure explains why and how the Clinton presidency's progressive statecraft floundered in a world where the labor movement was weak, civil rights forces quiescent, and corporate America ever more powerful.