Contents

Preface: Ballast

1. Rise of the Shareholder Class

1. Trickle-Down Tax Plan

2. Changing Sentiments

3. Declining Infrastructure

4. Healthcare Cutbacks

5. Labor Loses Its Voice

6. The LBO Boom

7. Productivity Soars, Compensation Stagnates

8. Income Inequality

9. An Overwhelmed IRS

10. The Offshoring Explosion

11. Stock Market Participation

2. The World We Made

12. Productivity Revolution

13. Billions of People Work Their Way Out of Poverty

14. Health Is Wealth

15. A New World Order

16. Freedom of Movement

17. The Red Blood Cells of the Consumer Economy

18. The Digital Age

19. Accelerating Technological Advancement

20. U.S. Institutions = Genius Factories

21. Assisting Humanity

3. Idolatry of Innovators

22. Turning Away From Community Organizations

23. Water Safety in the Richest Country in the World

24. Privatized R&D = Privatized Progress

25. College Has Become the Entry Requirement to the Middle Class

26. The Gross Idolatry of Innovators  . . . by Innovators

27. Power Games

28. The Entrenchment of Wealth

29. It’s Never Been Easier to Be a Trillion-Dollar Company

30. The MDMA Dealer of Capitalism Is the Corporate Communications Exec

31. D.C. = HQ2

32. Perspective

4. Hunger Games

33. The Great Divergence

34. It’s Wealthy at the Top

35. From Lopsided to Dystopian

36. Invasive Species

37. The Minimum Wage Is Decades Behind

38. What Are Our Priorities?

39. Financialization and Asset Inflation

40. Asset Inflation Comes Home

41. An Assault on America’s Prosperity

42. Another Covid Crime

43. The U.S. Healthcare System Is Embarrassingly Inefficient

44. Waking Up From the American Dream

5. The Attention Economy

45. We’re All Addicted to Our Phones

46. Digital Billboards

47. Decline of the News

48. Triggered

49. Liar, Liar

50. “Political” Censorship

51. Fake News

52. Media Fuels Misunderstanding About Crime

53. Relationship Status

6. House of Cards

54. Marriage Rates Are at Record Lows

55. Women Value Earning Potential in Male Partners

56. Men’s Share of College Enrollment at Record Lows

57. Online Dating Apps Are More Inequitable Than Almost Anywhere on Earth

58. Political Divides Become Social Divides

59. Failure to Leave

60. Population Growth Is Slowing to Great Depression Levels

61. Created Equal

62. Mass Murder Is a Uniquely Male Crime

63. The Long-Term Erosion of Trust in the Federal Government

64. Old Money, Old Problems

65. Those Funding the Future Reflect the Past

7. Threats

66. The United States Retains the Title

67. The Dominance of the U.S. Dollar

68. China Has Replaced the U.S. as the Most Popular Trading Partner

69. The U.S. Gets Less for Its Military Dollar

70. Military Spending Doesn’t Always Equate to Effectiveness

71. Chinese Leadership in Military Drones

72. Does Our Budget Allocation Align With Our Threats?

73. Erosion of the World’s Most Important Brand

74. The U.S. Is No Longer the World’s Laboratory

75. Clean Energy’s Silk Road Runs Through China

76. The Spawning Ground for Capitalism’s Apex Predators

8. The Bright Side of Instability

77. Crises Trigger Growth

78. Resetting Expectations

79. Surging Startups

80. Immigrants Are the Original Entrepreneurs

81. Seeking Refuge

82. Getting Banked

9. Possible Futures

83. Printing Our Way to Prosperity

84. Drowning in Cash

85. Investment in the Social Safety Net

86. Smothered by the Safety Net

87. Metadystopia

88. Fast Future

89. Space Is Lonely Without Friends

10. What We Must Do

90. Simplify the Tax Code

91. Rebuild the Regulatory System

92. Restore the Algebra of Deterrence

93. Reform Section 230

94. Rethink the Land of the Free Incarcerated

95. Enact a One-Time Wealth Tax

96. Rebrand Nuclear

97. Support Children and Family Formation

98. Reform Higher Ed

99. Enable Other Pathways for Upward Mobility

100. Invest in National Service

Conclusion

Acknowledgments

Notes

Excerpt from The Algebra of Happiness

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