Read The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke by Elizabeth Warren Free Online
Book Title: The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke|
The author of the book: Elizabeth Warren
ISBN 13: 9780465090822
Format files: PDF
The size of the: 951 KB
Edition: Basic Books
Date of issue: September 3rd 2003
Read full description of the books The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke:More than two decades ago, the women's movement flung open the doors of the workplace. Although this social revolution created a firestorm of controversy, no one questioned the idea that women's involvement in the workforce was certain to improve families' financial lot. Until now.In this brilliantly argued book, Harvard Law School bankruptcy expert Elizabeth Warren and business consultant Amelia Tyagi show that today's middle-class parents are suffering from an unprecedented and totally unexpected economic meltdown. Astonishingly, sending mothers to work has made families more vulnerable than ever before. Today's two-income family earns 75% more money than its single-income counterpart of a generation ago, but actually has less discretionary income once their fixed monthly bills are paid.How did this happen? Warren and Tyagi provide convincing evidence that the culprit is not "overconsumption," as many critics have charged. Instead, they point to the ferocious bidding war for housing and education that has quietly engulfed America's suburbs. Stay-at-home mothers once provided a financial safety net if disaster struck; their move into the workforce has left today's families chillingly at risk. The authors show why the usual remedies--child-support enforcement, subsidized daycare, and higher salaries for women--won't solve the problem, and propose a set of innovative solutions, from rate caps on credit cards to open-access public schools, to restore security to the middle class.
Read information about the authorElizabeth Warren (born 1949) is an American academic and politician, and the current senior U.S. Senator from Massachusetts and a Democrat. She is the Leo Gottlieb Professor of Law at Harvard Law School -- where she taught contract law, bankruptcy, and commercial law -- and devoted much of the past three decades to studying the economics of middle class families. In the wake of the 2008-9 financial crisis, she became the chair of the Congressional Oversight Panel created to investigate the U.S. banking bailout (formally known as the Troubled Assets Relief Program). In that role, she has provided a critical check on the U.S. Department of the Treasury and has been a leading advocate for accountability and transparency. Since 2007, she had advocated for the creation of a new Consumer Financial Protection Agency, which was established by the Dodd–Frank Wall Street Reform and Consumer Protection Act signed into law by President Obama in July 2010.
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