Farewell Fantasyland consists of two sections:
First, the illustrated Farewell Fantasyland takes the reader step-by-step through a series of basic realities, from “wealth consists of products and services,” to “globalization is our nation’s disaster.” Almost all readers, even those not usually interested in political economics, will easily recognize their validity and significance to their lives.
Second, the non-illustrated Addenda section clarifies some of the most crucial issues and political ideologies that form the core of today’s political debates, and presents fresh ways to analyze them.
Part One: Economic realities
- Everything of value is money, but paper money isn't anything like
- True wealth consists of products and services.
- Wealth is a zero-sum game at both the front end, when it is distributed,
and at the back end, when it is spent in auction markets.
- Consumer demand, not money supply, stimulates investment in a recession.
- Economics—the kind that counts—is philosophy, not science.
- Greed—excessive self interest—is capitalism’s cancer.
- Technology—not a fair economic system—improved workers’ living standards.
- Our new politically correct bias: workers.
Part Two: Political realities
- All societies are always governed all the time.
- All markets are always controlled all the time.
- Government always determines who gets what.
- Bankers always rise to the top of the economic pyramid.
- Government made the U.S. economy great.
- Globalization is not international trade.
- More or better education won’t help workers as a class.
- Globalization is America’s disaster.
- Our best years were between 1932 and 1980.
- Wealthy investors sold out America's accumulated wealth and productivity.
- Estate taxes are not death taxes.
Part Three: What it all means
- After-tax income is what counts.
- The U.S. & world are overpopulated.
- The wealthy and powerful—as a class—always take advantage of the poor and powerless.
- The U.S., itself, doesn’t respect workers’ rights.
- The world is not flat; it's a gigantic mountain.
- So, the crucial question: Does wealth trickle down, or is it sucked up?
- And the answer to…who to vote for:
- President Obama will fail, if voters don’t support his
efforts to get us out of Fantasyland.
- Liberal federal government fiscal policies,
not WWII, got the U.S. out of the Great Depression.
- The 1993 lesson in Republican “Fantasyland 101.”
- The coalition from workers’ hell:
Republicans and conservative Democrats.
- The media has a liberal bias because
reality has a liberal bias.
- How demagogues convinced us to vote for
George W. Bush: a 1994 prediction.
- “Inoculation,” and how to defend against it.