THE OCCUPY HANDBOOK

**

EDITED BY JANET BYRNE

GUEST EDITOR ROBIN WELLS

BACKBAYBOOKS Little, Brown and Company New York Boston London Contents

Introduction: A Tale of Two Taxes Janet Byrne

Parti HOW WE GOT HERE Advice from the 1 Percent: Lever Up, Drop Out Michael Lewis

The Widening Gyre: Inequality, Polarization, and the Crisis and Robin Wells

Take a Stand: Sit In Philip Dray

The 5 Percent Michael Hiltzik

Hidden in Plain Sight: The Problem of Silos and Silences in Finance Gillian Tett

What Good Is Wall Street? John Cassidy

Inequality and Intemperate Policy Raghuram Rajan CONTENTS

Your House as an ATM: The Myth of Homeownership 85 Bethany McLean

Against Political Capture: Occupiers, Muckrakers, Progressives 100 Daron Acemoglu and James A. Robinson

A Nation of Business Junkies 113 Arjun Appadurai

Causes of Financial Crises Past and Present: The Role of the This-Time-Is-Different Syndrome 117 Carmen M. Reinhart and Kenneth S. Rogoff

Government as Tough Love: Sitting Down with Robert Shiller 132 Brandon Adams

Part II WHERE WE ARE NOW 's Anarchist Roots 141

Economic Insecurity and Inequality Breed Political Instability 150 Nouriel Roubini

A Master Class in Occupation 164 Chris Hedges

Is Democracy Still in the Streets? 173 James Miller

The Arc of Communism: Lessons for Occupy Wall Street? 184' Robert M. Buckley

Globalization and the Perils of Democracy 196 Pankaj Mishra

"15M": The Indignados 209 Salvador Marti Puig

In the Footsteps of Salvador Allende: Chile and the 218 Ariel Dorfman CONTENTS jBasta YA! Chilean Students Say "Enough" 223 Nora Lustig, Alejandra Mizala, and G. Eduardo Silva

Occupying the Israeli Street: The Tents Protest Movement and Social Justice in the Holy Land 232 Neri Zilber

From Tahrir to Zuccotti: Justice but No Peace in Egypt 239 Chris Stanton

From Resistance to Revolution a la frangaise 245 Robert Zaretsky

Occupy the Media: Journalism for (and by) the 99 Percent 256 Amy Goodman and Denis Moynihan

On the Meaning of Occupation 265 Michael Greenberg

Unions Build the Middle Class 273 David Madland, Karla Walter, and Nick Bunker

Occupy Wall Street: The First Quarter and Beyond 276 George Gresham

Where Is the Demand for Redistribution? 280 Uyana Kuziemko and Michael I. Norton

U.S. Cultural Decline: The Overlooked Intangibles 286 Brandon Adams

Civil Society at Ground Zero 294 Rebecca Solnit

The Making of the American 99 Percent and the Collapse of the Middle Class 300 Barbara Ehrenreich and John Ehrenreich

Part III SOLUTIONS Occupy K Street 309 Paul Volcker

ix CONTENTS

Interview with Emmanuel Saez 311 Kathleen Maclay

Taxing High Earnings 317 Peter Diamond and Emmanuel Saez

Commentary 330 J. Bradford DeLong

Boycott! Michael Lewis Interviews Himself 333 Michael Lewis

Reforming Western Capitalism 336 Martin Wolf

How Occupy Wall Street Can Restore the Clout of the 99 Percent 348 Scott Turow

Psychopaths, Inc.: On Corporate Personhood 353 Joel Bakan

Occupy Democracy 362 Robert B. Reich

Taxing the 1 Percent of the 1 Percent 370 David Cay Johnston

The Short Sell: An Interview with Matt Taibbi 382 Tom Verlaine

Smart Loans 393 Eliot Spitzer Enough with Occupying Wall Street: It's Time to Start Preoccupying Wall Street 397 Lawrence Weschler

Reframing the Debate 411 Tyler Cowen and Veronique de Rugy

Voluntary Financial Transactions Tax 422 Brandon Adams

Medicare for All 425 JeffMadrick

x CONTENTS

Countering the Dangers of Procyclicality 438 Daniel Gross

Principal Reduction: How to Reduce the Mortgage Burden 446 Felix Salmon

How Bankruptcy Contributed to the Mortgage Crisis and How It Could Help the Economy Recover 456 Michelle J. White and Wenli Li

Occupy Global Capitalism 462 Jeffrey D. Sachs

Debt Jubilee 475 Michael Hudson

Another Way to Resist Wall Street: Copies, Smuggling, and "Globalization from Below" 480 Gordon Mathews

Coda: "The Last Capitalist on Wall Street" 494 Brandon Adams

Acknowledgments 501' Notes 505 Credits 531