Our Kids: The American Dream in Crisis

<br />Our Kids: The American Dream in Crisis


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1476769893

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A groundbreaking examination of the growing inequality gap from the bestselling author of Bowling Alone: why fewer Americans today have the opportunity for upward mobility.

It’s the American dream: get a good education, work hard, buy a house, and achieve prosperity and success. This is the America we believe in—a nation of opportunity, constrained only by ability and effort. But during the last twenty-five years we have seen a disturbing “opportunity gap” emerge. Americans have always believed in equality of opportunity, the idea that all kids, regardless of their family background, should have a decent chance to improve their lot in life. Now, this central tenet of the American dream seems no longer true or at the least, much less true than it was.

Robert Putnam—about whom The Economist said, “his scholarship is wide-ranging, his intelligence luminous, his tone modest, his prose unpretentious and frequently funny”—offers a personal but also authoritative look at this new American crisis. Putnam begins with his high school class of 1959 in Port Clinton, Ohio. By and large the vast majority of those students—“our kids”—went on to lives better than those of their parents. But their children and grandchildren have had harder lives amid diminishing prospects. Putnam tells the tale of lessening opportunity through poignant life stories of rich and poor kids from cities and suburbs across the country, drawing on a formidable body of research done especially for this book.

Our Kids is a rare combination of individual testimony and rigorous evidence. Putnam provides a disturbing account of the American dream that should initiate a deep examination of the future of our country.


Product Details

  • Amazon Sales Rank: #1432 in Books
  • Published on: 2015-03-10
  • Released on: 2015-03-10
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.00" h x 1.20" w x 6.00" l, .0 pounds
  • Binding: Hardcover
  • 400 pages

Editorial Reviews

Review
“Robert D. Putnam is technically a Harvard social scientist, but a better description might be poet laureate of civil society. In Our Kids, Putnam brings his talent for launching a high-level discussion to a timely topic. . . . No one can finish Our Kids and feel complacent about equal opportunity.” (Jason DeParle The New York Times Book Review)

“Putman’s new book is an eye-opener. When serious political candidates maintain that there are no classes in America, Putnam shows us the reality — and it is anything but reassuring." (Alan Wolfe Washington Post Book World)

“Much of the current debate about inequality has a strangely abstract quality, focusing on the excesses of the 1 per cent without really coming to terms with what has happened to the American middle class over the past two generations. Into this void steps the political scientist Robert Putnam, with a truly masterful volume that should shock Americans into confronting what has happened to their society.” (Francis Fukuyama The Financial Times)

“Robert D. Putnam vividly captures a dynamic change in American society—the widening class-based opportunity gap among young people. The diminishing life chances of lower-class families and the expanding resources of the upper-class are contrasted in sharp relief in Our Kids, which also includes compelling suggestions of what we as a nation should do about this trend. Putnam’s new book is a must-read for all Americans concerned about the future of our children.” (William Julius Wilson, Lewis P. and Linda L. Geyser University Professor, Harvard University)

“Robert Putnam weaves together scholarship and storytelling to paint a truly troubling picture of our country and its future. Our Kids makes it absolutely clear that we need to put aside our political bickering and fix how this country provides opportunity for its millions of poor children. This book should be required reading for every policymaker in America, if not every American.” (Geoffrey Canada, President, the Harlem Children’s Zone)

“In yet another path-breaking book about America’s changing social landscape, Robert Putnam investigates how growing income gaps have shaped our children so differently. His conclusion is chilling: social mobility ‘seems poised to plunge in the years ahead, shattering the American dream.’ Must reading from the White House to your house.” (David Gergen)

“With clarity and compassion, Robert Putnam tells the story of the great social issue of our time: the growing gap between the lives of rich and poor children, and the diminishing prospects of children born into disadvantage. A profoundly important book and a powerful reminder that we can and must do better.” (Paul Tough, author of How Children Succeed: Grit, Curiosity, and the Hidden Power of Character)

“The book’s chief and authoritative contribution is its careful presentation for a popular audience of important work on the erosion, in the past half century, of so many forms of social, economic, and political support for families, schools, and communities. . . . Our Kids is a passionate, urgent book.” (Jill Lepore The New Yorker)

"A thoughtful and persuasive book." (The Economist)

“The irony of the book is contained in its title: The love for ‘our kids’ is driving the destruction of the collective possibilities of other people’s kids. . . . Incredibly useful, essential reading.” (Stephen Marche Esquire)

“Putnam writes clear, impassioned, accessible prose. . . . [He] has made a real contribution in calling our attention to a situation of profoundly divergent experiences for different classes that Americans ought to find morally unacceptable, as he obviously does.” (Nicholas Lemann The New York Review of Books)

“Charles Dickens used his literary genius to compel his contemporaries to face up to the poverty and violence which afflicted the poor in Victorian England, and Robert Putnam does the same in his newest book, which analyzes ‘The American Dream in Crisis’ not in social science lingo, but through the direct experience of a group of young Americans also struggling with poverty and violence. Our Kids shows that we are living in a two-tier social and economic world where the affluent succeed through education and economic opportunity, and the poor struggle unavailingly to rise out of their poverty. The compelling results of Putnam’s research are inescapable. Read this book and discover a new America.” (Jill Ker Conway)

"Highly readable. . . . An insightful book that paints a disturbing picture of the collapse of the working class and the growth of an upper class that seems to be largely unaware of the other's precarious existence." (Kirkus Reviews (starred review))

About the Author
Robert D. Putnam is the Peter and Isabel Malkin Professor of Public Policy at Harvard University. Nationally honored as a leading humanist and a renowned scientist, he has written fourteen books and has consulted for the last four US Presidents. His research program, the Saguaro Seminar, is dedicated to fostering civic engagement in America.

Excerpt. © Reprinted by permission. All rights reserved.
Our Kids

Chapter 1

THE AMERICAN DREAM: MYTHS AND REALITIES


I went back to Ohio, but my city was gone.1

If I can get to the heart of Dublin I can get to the heart of all the cities in the world.

In the particular is contained the universal.2

MY HOMETOWN WAS, IN THE 1950s, a passable embodiment of the American Dream, a place that offered decent opportunity for all the kids in town, whatever their background. A half century later, however, life in Port Clinton, Ohio, is a split-screen American nightmare, a community in which kids from the wrong side of the tracks that bisect the town can barely imagine the future that awaits the kids from the right side of the tracks. And the story of Port Clinton turns out to be sadly typical of America. How this transformation happened, why it matters, and how we might begin to alter the cursed course of our society is the subject of this book.

The most rigorous economic and social history now available suggests that socioeconomic barriers in America (and in Port Clinton) in the 1950s were at their lowest ebb in more than a century: economic and educational expansion were high; income equality was relatively high; class segregation in neighborhoods and schools was low; class barriers to intermarriage and social intercourse were low; civic engagement and social solidarity were high; and opportunities for kids born in the lower echelon to scale the socioeconomic ladder were abundant.

Though small and not very diverse racially, Port Clinton in the 1950s was in all other respects a remarkably representative microcosm of America, demographically, economically, educationally, socially, and even politically. (Ottawa County, of which Port Clinton is county seat, is the bellwether county in the bellwether state of the United States—that is, the county whose election results have historically been closest to the national outcome.3) The life stories of my high school classmates show that the opportunities open to Don and Libby, two poor white kids, and even to Jesse and Cheryl, two poor black kids, to rise on the basis of their own talents and energy were not so different from the opportunities open to Frank, the only real scion of privilege in our class.

No single town or city could possibly represent all of America, and Port Clinton in the 1950s was hardly paradise. As in the rest of America at the time, minorities in Port Clinton suffered serious discrimination and women were frequently marginalized, as we shall explore later in this chapter. Few of us, including me, would want to return there without major reforms. But social class was not a major constraint on opportunity.

When our gaze shifts to Port Clinton in the twenty-first century, however, the opportunities facing rich kids and poor kids today—kids like Chelsea and David, whom we shall also meet in this chapter—are radically disparate. Port Clinton today is a place of stark class divisions, where (according to school officials) wealthy kids park BMW convertibles in the high school lot next to decrepit junkers that homeless classmates drive away each night to live in. The changes in Port Clinton that have led to growing numbers of kids, of all races and both genders, being denied the promise of the American Dream—changes in economic circumstance, in family structure and parenting, in schools, and in neighborhoods—are surprisingly representative of America writ large. For exploring equality of opportunity, Port Clinton in 1959 is a good time and place to begin, because it reminds us of how far we have traveled away from the American Dream.

•  •  •

June 1, 1959, had dawned hot and sunny, but the evening was cooler as 150 new graduates thronged down the steps of Port Clinton High School in the center of town, clutching our new diplomas, flushed with Commencement excitement, not quite ready to relinquish our childhood in this pleasant, friendly town of 6,500 (mostly white) people on the shores of Lake Erie, but confident about our future. It was, as usual, a community-wide celebration, attended by 1,150 people.4 Family or not, the townspeople thought of all the graduates as “our kids.”

Don


Don was a soft-spoken white working-class kid, though no one in our class would have thought of him that way, for he was our star quarterback.5 His dad had only an eighth-grade education. To keep the family afloat, his dad worked two jobs—the first on the line at the Port Clinton Manufacturing factory, from 7:00 a.m. to 3:00 p.m., and the second, a short walk away, at the local canning plant, from 3:30 p.m. to 11:00 p.m. His mom, who had left school in the 11th grade, “lived in the kitchen,” Don says, making all of their meals from scratch. Every night, she sat down with Don and his two brothers for dinner. They got used to eating hash, made by frying up everything left in the house with potatoes. The boys were in bed by the time their dad got home from work.

They lived on the poorer side of town, and did not own a car or television until Don went off to college, by which time 80 percent of all American families already had a car, and 90 percent had a TV. Their neighbors drove them to church every week. The family had no money for vacations, but Don’s parents owned their home and felt reasonably secure economically, and his dad was never unemployed. “I didn’t know that I was poor until I went to college and took Economics 101,” Don recalls, “and found out that I had been ‘deprived.’ ”

Despite their modest circumstances, Don’s parents urged him to aim for college, and, like many other working-class kids in our class, he chose the college-prep track at PCHS. His mom forced him to take piano lessons for six years, but his true love was sports. He played basketball and football, and his dad took time off from work to attend every single one of Don’s games. Don downplays class distinctions in Port Clinton. “I lived on the east side of town,” he says, “and money was on the west side of town. But you met everyone as an equal through sports.”

Although none of his closest friends in high school ended up going to college, Don did well in school and finished in the top quarter of our class. His parents “didn’t have a clue” about college, he says, but fortunately he had strong ties at church. “One of the ministers in town was keeping an eye on me,” he says, “and mentioned my name to the university where I ended up.” Not only that, the minister helped Don figure out how to get financial aid and navigate the admissions process.

After PCHS, Don headed off to a religiously affiliated university downstate (where he also played football) and then on to seminary. While in seminary, he developed doubts about whether he could “hack it” as a minister, he says, and came home to tell his parents he was quitting. Back home, he stopped by the local pool hall to say hello. The owner, a longtime friend of his dad’s, referred to him as “a future minister,” and a customer asked Don to pray for him—which Don interpreted as signs that he should continue on his path.

Immediately after college, Don married June, a high school teacher, and they had one child, who became a high school librarian. Don had a long and successful career as a minister and retired only recently. He still helps out in local churches and has coached high school football for many years. Looking back, he says he has been blessed with a very good life. His rise from a poor but close-knit working-class family to a successful professional career reflected his native intelligence and his gridiron grit. But as we shall see, the sort of upward mobility he achieved was not atypical for our class.

Frank


Frank came from one of the few wealthy families in Port Clinton. In the late nineteenth century, his maternal great-grandfather had started a commercial fishing business, and by the time of Frank’s birth the family had diversified into real estate and other local businesses. His mother graduated from college in the 1930s and then earned a master’s degree at the University of Chicago. While in Chicago she met Frank’s father, a college-educated minister’s son, and they soon married. As Frank grew up, his father managed the family businesses—fishing, a shopping center, farming, a restaurant, and so forth—and his mother did charity work.6

Port Clinton’s social elite has long made the Port Clinton Yacht Club its hub. While Frank was growing up, his grandfather, father, and uncle each served a term as the club’s “Commodore,” and his mother and aunt were elected “Shipmates Captain”—pinnacles of local social status. In short, Frank’s parents were the wealthiest, best educated, and most socially prominent parents of the class of 1959.

Nevertheless, the social distance between Frank’s family and those at the bottom of the socioeconomic ladder was much shorter than is common in America (even in Port Clinton) today. Frank (who lived only four blocks away from Don) recalls his neighbors as “a nice mix of everyone”—truck driver, store owner, cashier at the A&P, officer at a major local firm, fire chief, gas station owner, game warden. “We played baseball out in the backyard or kick-the-can down at the corner,” he says. “Everybody just got along.”

Despite his family’s affluence, Frank worked summers at the family restaurant, starting at fifteen, scraping paint and doing cleanup work with his high school buddies. And his family carefully downplayed their social status. “If you’re in Port Clinton with a group of boys who can afford a Coke, that’s what you are to order,” Frank’s grandfather had memorably warned Frank’s uncle. “If we’re in Cleveland or New York, you can order whatever you want, but when you’re with kids in Port Clinton, you do what they can do.”

In high school, Frank interacted with his classmates as a social equal—so ably, in fact, that many of us were unaware of his exceptional family background. But signs of it did appear. He was the first in our class to wear braces. In elementary school he spent winter months at a family home in Florida, attending school there. His grandfather was on the school board. Frank’s parents once invited a teacher over for dinner. Afterward Frank chided his mom, “Why did you embarrass me in front of the whole class?” The suggestion that his parents might ever have intervened to try to alter a grade strikes Frank as absurd: “Are you kidding? Oh, jeez, as far as we kids knew, the teachers are always right.”

Frank was an indifferent student, but that didn’t mean his parents neglected his educational prospects. “My life was programmed from the time I was born until I was through college,” he says. “You knew you were going to go to college, and you better graduate.” With financial support from his parents, he attended a small college in Ohio, graduating with a major in journalism. After college, he enlisted in the Navy and for seven years navigated Navy transport planes around the world. “I loved it,” he recalls.

After his naval service, Frank worked for about twenty-five years as an editor for the Columbus Dispatch, until he objected to some personnel decisions and was fired. At that point he returned to Port Clinton, semiretired, to work in the family businesses—the fish-cleaning operation, dock rentals, and the boutique. He has been helped financially through some difficult years by a trust fund that his grandfather created for him at birth. “It’s not a lot of money,” he says, “but I’ll never starve.” Frank’s family fortune has cushioned him from some of life’s hard knocks, but it was not a trampoline that boosted him ahead of his peers from less affluent homes, like Don.

Class Disparities in Port Clinton in the 1950s


Class differences were not absent in Port Clinton in the 1950s, but as the lives of Frank and Don illustrate, those differences were muted. The children of manual workers and of professionals came from similar homes and mixed unselfconsciously in schools and neighborhoods, in scout troops and church groups. The class contrasts that matter so much today (even in Port Clinton, as we shall shortly see)—in economic security, family structure, parenting, schooling, neighborhoods, and so on—were minimal in that era. Virtually everyone in the PCHS class of 1959, whatever their background, lived with two parents, in homes their parents owned, and in neighborhoods where everyone knew everyone else’s first name.7

Our parents, almost universally homemaker moms and breadwinner dads, were not especially well educated. Indeed, barely one in 20 of them had graduated from college, and a full third of them hadn’t even graduated from high school. (For the most part, they had completed their schooling before high school education became nearly universal.) But almost everyone in town had benefited from widely shared postwar prosperity, and few of our families were poverty-stricken. The very few kids in town who came from wealthy backgrounds, like Frank, made every effort to hide that fact.

Some dads worked the assembly lines at the local auto part factories, or in the nearby gypsum mines, or at the local Army base, or on small family farms. Others, like my dad, were small businessmen whose fortunes rose and fell with the business cycle. In that era of full employment and strong unions, few of our families experienced joblessness or serious economic insecurity. Most of my classmates, whatever their social origins, were active in sports, music, drama, and other extracurricular activities. Friday night football games attracted much of the town’s population.

Seen a half century later, my classmates (now mostly retired) have experienced astonishing upward mobility. Nearly three quarters of us obtained more education than our parents, and the vast majority made it higher up the economic ladder. In fact, some kids from less well-off backgrounds have climbed further up that ladder than kids from more comfortable, better-educated backgrounds. By contemporary standards, our class’s absolute level of upward educational mobility was remarkable, a reflection of the high school and college revolutions of the twentieth century. Half the sons and daughters of high school dropouts went on to college. Many of those who were the first in their family to complete high school ended up also being the first to complete college—a remarkable jump in a single generation. Even more striking, although the two black students in our class contended with racial prejudice (as we shall shortly see) and came from homes in which neither parent had completed grade school, both earned postgraduate degrees.

In 1950s Port Clinton, socioeconomic class was not nearly so formidable a barrier for kids of any race, white or black, as it would become in the twenty-first century. By way of comparison, the children of the members of the class of 1959 would, on average, experience no educational advance beyond their parents.8 The escalator that had carried most of the class of 1959 upward suddenly halted when our own children stepped on.

This high absolute mobility of my class of 1959 could have been consistent with low relative mobility, if everyone had moved upward in lockstep, but actually, even relative mobility was high. In fact, upward mobility among the kids from the lower half of the socioeconomic hierarchy was almost as great as among the most privileged kids. In short, lots of upward mobility from the bottom and a modest amount of downward mobility at the top.

To be sure, less educated parents, with narrower cultural horizons and less familiarity with advanced education, sometimes had lower educational aspirations for their kids. However, if they, or our teachers, or informal mentors in the community (like Don’s pastor), or our friends encouraged us to attend college, we invariably did—with virtually no trace of economic or financial or neighborhood bias in our college going.9 Low costs at public and private institutions across Ohio were supplemented by a wide array of locally raised scholarships—from the Rotary Club, the United Auto Workers Union, the Junior Women’s Club, and the like. Of all college grads in the PCHS class of 1959, two thirds of them were the first in their families to attend college, and one third were the first in their families even to graduate from high school. As the 1960s opened in Port Clinton, a single modest reform—better counseling for talented kids from poor backgrounds—would have seemed to hold the key to a truly remarkable degree of equality of opportunity, but instead (as we shall see) social history was about to reverse course.

Of the kids from lower- and middle-class backgrounds who did not immediately attend college, roughly one third later found on-ramps to postsecondary education, such as community college, with no trace of bias against kids from humbler backgrounds. The net effect of these late-blooming successes was to weaken still further the link between family background and eventual educational attainment.

This evidence from a survey of my classmates proves beyond a reasonable doubt that Port Clinton in the 1950s was a site of extraordinary upward mobility. Because the transmitters of socioeconomic status that are so potent today (economic insecurity, family instability, neighborhood distress, financial and organizational barriers) were unimportant in that period, the transmission process from generation to generation was weaker, and thus mobility was higher. Over and over again members of the class of 1959 use the same words to describe the material conditions of our youth: “We were poor, but we didn’t know it.” In fact, however, in the breadth and depth of the community support we enjoyed, we were rich, but we didn’t know it.

But how about gender and race? To open our discussion of those critical issues, let’s listen first to the stories of three more of my classmates.

Libby


Libby’s father worked as a farmer and a skilled craftsman at Standard Products, while her mother was a full-time housewife. Both parents had left school in tenth grade. The family lived in a large hardscrabble farmhouse outside town. Libby, the sixth of ten children, often wore hand-me-downs. With many mouths to feed, money was tight. Libby never learned to bike or skate: “those things,” she says, “were not in the family budget.” On the other hand, with thirty acres, hardworking parents, and strong young arms, the family raised vegetables, kept chickens and cows, and was never destitute.

Libby’s parents were good role models and nurtured an unusually cohesive family unit. The family always ate supper together, praying before the meal. Her parents insisted that the kids say “please” and “thank you,” and stay at the table until everyone had finished. That spirit of togetherness has endured: Libby says that as septuagenarians she and her siblings still “circle the wagons and take care of each other” when adversity strikes.

Social life for this close-knit family revolved around school and church. Libby’s parents were involved in the PTA and the kids’ extracurricular pursuits, and each week the family sat together in church. Students from the church youth group occasionally took responsibility for adult services, and after Libby preached, she received cards from congregation members telling her what a good job she’d done. She was hired on the spot for her first job when a downtown store owner recognized her from the pulpit.

Academically, Libby’s parents set high expectations for their children, and Libby lived up to them: she was an honors student in the college-prep track. Equally important, she made friends easily and could be counted on to get things done. “If you find enough people to help,” she recalls her mother saying, “you can accomplish just about everything.” A natural politician, Libby was elected president of the German Club, the Future Teachers of America, the Honor Society, and the Junior Class. Nearly 60 years later, Libby remembers high school as one of the most rewarding periods in her life. “I was in my element,” she says.

When the time came for college, an English teacher helped Libby win an academic scholarship to the University of Toledo. Libby planned to become a teacher, but almost as soon as she arrived at college, she and her high school sweetheart found themselves overwhelmed by how much they missed each other. And so, like so many of her female peers, Libby dropped out of college, returned home, got married, started a family, and settled down as a civic-minded housewife.

When the marriage ended after 20 years, however, Libby was left on her own. Suddenly, she found her lack of a college degree and work experience, and society’s pervasive gender bias, were holding her back. For the only time in her life, she became frightened about her future.

She proved resilient, however. Libby’s decades in the social life of this small town had given her a wide reputation for dependability and congeniality. Beginning as a clerk in the lumberyard, she quickly became a writer for the local newspaper and then the head of a nonprofit group. Libby’s father, always supportive, encouraged her to enter electoral politics, and within little more than a decade she had been elected to the county-wide office that she still holds, nearly thirty years later. As Libby’s track record in PCHS demonstrated, her emotional intelligence and civic spirit were well matched for public life.

As she entered her 70s, Libby had become widely respected statewide as a public official and a quiet power in local party politics. Still feeling the call of service, she began training as a minister and now also serves as a part-time pastor in several area churches.

This farm girl with hand-me-down clothes and exceptional people skills was, beyond doubt, held back by the cultural norms of the 1950s, particularly after she left high school. Born a few decades later, Libby would probably have trained for a profession and might well have risen to the top of Ohio politics. Libby’s gender was a serious impediment to upward mobility. But her modest class origins were not.

Libby’s experience was typical of women in the class of 1959. Men and women in our cohort were equally likely to attend high school, equally involved in academic and nonacademic activities, equally qualified in terms of academics and extracurriculars, equally likely to aspire to college, and equally likely to attend college. Until we left PCHS, our class experienced no gender differences in opportunity for advancement.

Gender massively affected who completed college, however, and thus just like Libby, the women in my high school class were deprived of what would turn out to be the most important credential for upward mobility—a college degree. Equal numbers of men and women of the class of 1959 went off to college, but 88 percent of the men got a degree, compared to 22 percent of the women! In short, no gender winnowing at all until college, and then extreme gender winnowing.

Exactly as in Libby’s story, that extraordinary difference was due almost entirely to women dropping out of college to get married. Women in my class were three times more likely to marry during college than men, and marriage was six times more of a barrier to finishing college for women than for men. Men were less likely to marry, and if they did, they stayed in school. Half a century later, my female classmates explain that whatever their academic or professional inclinations, they followed the social norms of the era—marriage, home, and a family. Of course, their world would change dramatically in the ensuing decades, as Libby recounts, but most of them (including Libby) say they don’t regret leaving college to start a family.10 On the other hand, self-imposed or not, the personal and social costs of having to choose between family and career were extraordinary.

The contrast with educational winnowing in twenty-first-century America could not be starker. Nowadays, women are more likely to graduate from college than men. On the other hand, 50 years ago family background had very little to do with who finished college, and nowadays it makes a huge difference, as we shall see in Chapter 4.

What about race, then and now?

Jesse and Cheryl


“Your then was not my then, and your now isn’t even my now.”

Even in a group that collectively experienced remarkable upward mobility in life, two of our 1959 classmates stand out—the only two black students, Jesse and Cheryl. Their experiences were in many respects parallel.

• Both arrived in Port Clinton as children of families fleeing physical violence in the South, part of what historians call “the Great Migration.”11 Jesse’s family fled Mississippi after his sister was killed, while Cheryl’s family were forced to leave Tennessee after an altercation between her father and a white man.

• Though none of their parents had a formal education beyond elementary school in the Jim Crow South, both Jesse and Cheryl benefited from tightly knit, hardworking, religiously observant, two-parent families.

• Both lived in poorer sections of town. Jesse’s father loaded boxcars for a local manufacturer, while his mother worked as a seasonal maid in a nearby hotel. Cheryl’s father worked in the gypsum mines and in a fruit-packing plant, while her mother cleaned houses. However, neither considered their families poor. “When we got to Ohio,” Jesse recalls, “my dad always had a job, so we always had food and a place to live.”

• Both excelled in high school. Jesse, perhaps the best all around athlete in school, was named MVP of the football team and was elected president of the student council. Cheryl was an elected officer of our senior class and ranked very near the top academically.

• Immediately after graduation, both went to good nearby colleges on partial scholarships, obtained graduate degrees, entered the field of public education, and recently retired after long and successful careers. That leap from elementary-school-educated laborers to graduate-school-educated professionals in a single generation is a remarkable testament to their native talent and fortitude, and also to the relative weakness of class barriers to advancement in that era.

This bare biographical recital might suggest that Jesse and Cheryl lived trouble-free childhoods in Port Clinton and achieved their successes in life relatively easily. But they were two black kids living in a predominantly white small town in the pre–Civil Rights 1950s, and inevitably race became the most salient part of their identities, imposed on them by their social environment.

When Jesse first arrived in Port Clinton, he was stared at by classmates who had never gone to school with a black person, just as he had never gone to school with a white person. But he soon began to make friends, especially after he turned out to be good at sports. The son of Jesse’s father’s white supervisor at work persuaded his father, a Little League coach, to invite Jesse to join their team. “I got on the Little League team,” he says, “and started making friends. When you become an athlete, and you’re good, and you help the team, people start liking you. I felt welcome on my team, but the other teams didn’t like me being on the team.”

A talented four-sport athlete, Jesse focused on athletics in high school. Aside from his parents, the most influential person in his life was his football coach—but not because he was particularly sympathetic or close to Jesse. “He was a figurehead,” Jesse says, “whose values you wanted to emulate—the hard work, discipline, drive, work together, win. Given where he came from, this guy didn’t particularly care to interact with me, but he liked me because of my skills. He could give me an assignment, and I would do it.”

Jesse was even-tempered and avoided confrontations. “That’s the way you had to be in Mississippi to survive,” he says. “If I had responded to white people in Mississippi, I probably wouldn’t be here talking with you.” In high school, Jesse recalls, “I had such a good personality that they elected me president of the student council.” He recalls with pleasure that the candidate he defeated was the author of this book.

During high school Jesse assumed he would not go to college, because his family had no money, but a football coach from a nearby college showed up at his home during his senior year to offer him a generous scholarship. When Jesse discussed the offer with his parents, his father told him, “Son, if you don’t get an education, you’ll have to work as hard as I work.” His father agreed to loan him the $500 in costs not covered by the scholarship, and Jesse went off to college.

After college Jesse hoped to go to law school, but he didn’t have the money. He hitchhiked to California, where he was only able to find a job as a utility worker in an electronics company. A friend suggested that he seek a teaching job and work for his teaching credentials. In the end he got a master’s degree and spent more than four decades as a teacher, dean, vice principal, principal, and regional director in the Los Angeles education system.

Reflecting on his childhood in Port Clinton, Jesse notes that although he felt uncomfortable about entering a few business establishments, his experience in town was generally positive. “There were so many nice people in Port Clinton,” he says, “some of the most pleasant, accepting, and tolerant I ever met. We would go fishing, and they would let us take out the boat.”

His family lived in a poor, racially mixed neighborhood. “We had a lot of white neighbors who we walked to school with every day,” he recalls, “and we were friends. We never had problems. Everybody was trying to live, and it wasn’t about what color you were.” A white teammate on the football team who knew that Jesse’s family didn’t have money took to inviting Jesse over to his house for lunch.

On the other hand, the backdrop to Jesse’s good relations with his closest peers was racial prejudice and polarization in the wider society. “The hardest part was not being accepted as a human being. Some people would like you, but others would ostracize you when you never did anything to them.”

Jesse says he lived between “two worlds—a black world and a white world. Black kids didn’t like it because I got along so well with white kids, [and] when I was with the black kids, the white kids was mad. I’m out there trying to appease both sides and trying to get them to understand that we are all human beings. My white friends would want me to go to a white party in a nearby town, but other kids there, or their parents, might not be so tolerant. My friends were welcome, but I was not welcome, all because I was black.”

Cheryl has a different story. Her strong role model was her mother, a savvy and competent woman who insisted that Cheryl not use the word can’t. “From watching Mama,” she says, “I grew up knowing I could do anything. Some things are more caught than taught.”

Cheryl’s family had first moved to a village near the gypsum mines, where they lived in company housing without indoor toilets. When that housing was closed as unhealthy, the family bought a lot in Port Clinton at the edge of a mostly black neighborhood and moved an older house onto it, though in response to neighbors’ protests they were forced to shift the house on its foundation so that it would face away from the adjacent white neighborhood. Subsequently, one of her mother’s housecleaning clients arranged for them to buy a better house in a nearby white area, but the sale was aborted after somebody erected a cross in the yard.

Cheryl says she encountered little overt racism as she grew up. She doesn’t recall hearing racial epithets. “You could go anywhere and no one was going to bother you,” she says. She could ride her bike all over town and take books out from the public library on her own.

What did bother her was the lack of socializing across racial lines. “Port Clinton had a wonderful education system that prepared people [including her, she adds] for college, but 50 percent of high school is socializing,” she says, “and that’s what we missed. When I was at school with my white classmates, we talked, and after that it was over. I didn’t go home with them; they didn’t come home with me. So whatever I had to do, I did by myself.” A white friend in elementary school once refused to acknowledge her when Cheryl encountered the girl and her mother on the street. “I was happy to see her,” Cheryl recalls, “but she acted like she didn’t even know who I was. I was really hurt by that.”

Cheryl and her older sister wanted to join a girls’ majorettes group, but they knew they couldn’t, because the group traveled to places that wouldn’t be so tolerant as Port Clinton. “We never tried to join,” she says, “because there’s some things you just know that you can’t be part of.” She and Jesse double-dated with a popular white couple, but they couldn’t go to the local skating rink, because they expected to be refused admittance—a reasonable fear, a white classmate would much later confirm. “It wasn’t like anybody stood outside and said you couldn’t come,” she says. “You just knew that you don’t even try.”

An avid and precocious reader, Cheryl got good grades, and wound up in college prep at PCHS, she says, “because my white friends were going to college.” Her parents did not particularly encourage her to pursue higher education, however. “It wasn’t on their radar screen. They didn’t ever talk much about school.” At one point, she wrote to a business school in Cleveland, but her mother shut that down, saying, “We don’t have any money for you to go to college”—a response that stung.

A turning point came for Cheryl during her senior year in high school, when a white woman for whom she and her mother worked as housecleaners and who had come to respect Cheryl’s work ethic learned about her outstanding academic record, and was shocked to discover that nobody at school had talked to her about college. This woman—the wife of the CEO of one of Port Clinton’s largest firms—energetically took up Cheryl’s case. “I wouldn’t have gotten anywhere without that lady going to bat for me,” she recalls, “putting on that fur coat of hers and marching down to the principal’s office. Twice!” The reluctant principal finally agreed to take Cheryl to visit a nearby state university.

She was admitted to that university, got a partial academic scholarship, and worked summers for four years in menial jobs to cover the rest of the cost. She enjoyed college much more than high school, she says, because there were more blacks, so that “the social part that was missing in high school was available in college.” Still, looking back at her time in college, Cheryl regrets that she didn’t explore careers beyond teaching or social work. “Some kids say, ‘I’m going to be a lawyer, because my dad’s a lawyer,’ ” she says. “If I had had some exposure, I would not have been a teacher, because there are so many other things that you could do. But not in the 1960s.”

Cheryl’s brothers had more trouble navigating Port Clinton than she did. “If you didn’t cross the line, which I never did,” Cheryl says, “you could avoid trouble, but if you did cross the line, you would run into some problems.” That happened to her younger brother, she recalls. In a history class on slavery, “he went ballistic and got in real trouble,” she says, after his teacher said that black people don’t have souls. The teacher had made the same remark when Cheryl had been in this class, but she had seethed in silence. For one of her older brothers, simply trying to buy a house upon his return from the Korean War amounted to crossing a line. “I don’t care how much money you have,” the most prominent real estate agent in town told him, “you’re not going to buy a house here.”

Her sense of not belonging still haunts Cheryl when she looks back on Port Clinton, even though she emphasizes that she was helped and befriended by individual white people in town. “Invisible Man, by Ralph Ellison, best describes my experience at PCHS,” she says. “As an African American student in the graduating class of 1959, I participated in but never felt a part of the student body.” America, for her, is a deeply racist system that did not—and still does not—allow her or her family to participate fully in economic and social life. For white kids, Port Clinton in the 1950s was a great place to grow up, but she tells me, amicably but accurately, “Your then was not my then, and your now isn’t even my now.”

•  •  •

There was much racism in Port Clinton in the 1950s, less violent and more subtle than in other parts of America at the time, but painful and deeply wounding nonetheless, as Jesse and Cheryl make clear. Port Clinton, like America, has made hard-won, halting progress toward racial equity in the last half century, and we must not sugarcoat race relations in the 1950s. On the other hand, as Jesse and Cheryl also emphasize, in Port Clinton of the 1950s humble class origins did not prevent them from using their talents and work ethic to achieve great upward mobility, any more than comparably modest family backgrounds prevented Don and Libby from gaining success in life.

In the half century since Libby, Cheryl, and Jesse came of age, the power of race, class, and gender to shape life chances in America has been substantially reconfigured.12 Inequality in the United States increasingly operates through education—a scarce resource in our knowledge-based economy and a measure that is closely correlated with parental socioeconomic status. Gender inequality, very high in the 1950s, has fallen sharply, so that women are now more likely to graduate from college than men, and gender gaps in pay are shrinking, though still present.

Progress on racial difference has been less encouraging. To be sure, controlling for education, racial gaps in income are modest, and racial gaps in family structure and test scores, though high, are falling. On the other hand, racial gaps in schooling and involvement with the criminal justice system remain immense. Black parents in America remain disproportionately concentrated among the poor and less educated, so black children continue to be handicapped from the start. Whether their parents are rich or poor, black children live in poorer neighborhoods than white children at that income level, and black children experience less upward mobility and more downward mobility than their white counterparts who started at the same income level.13

So, gender and racial biases remain powerful, but as barriers to success they would represent less burdensome obstacles for Libby, Jesse, and Cheryl today than they did in the 1950s. By contrast, in modern America one barrier would loom much larger than it did back then: their class origins. That nationwide increase in class inequality—how the class-based opportunity gap among young people has widened in recent decades—is the subject of this book.

Class Disparities in Port Clinton in the Twenty-first Century


As my classmates and I marched down the steps after graduation in 1959, none of us had any inkling that change was coming. Almost half of us headed off to college, and those who stayed in town had every reason to expect they would get a job (if they were male), get married, and lead a comfortable life, just as their parents had done. For about a decade those expectations were happily met.

But just beyond the horizon an economic, social, and cultural whirlwind was gathering force nationally that would radically transform the life chances of our children and grandchildren. For many people, its effects would be gut-wrenching, for Port Clinton turns out to be a poster child for the changes that have swept across America in the last several decades.

The manufacturing foundation upon which Port Clinton’s modest prosperity had been built in the 1950s and 1960s began to tremble in the 1970s. The big Standard Products factory at the east end of town had provided nearly 1,000 steady, well-paying blue-collar jobs in the 1950s, but in the 1970s the payroll was trimmed to less than half that, and after more than two decades of layoffs and givebacks, the plant gates on Maple Street finally closed in 1993. Twenty years later, only the hulking ruins of the plant remain, with EPA signs on the barbed wire fence warning of environmental hazard. But the closing of the Standard Products factory, the Army base, and the gypsum mines were merely the most visible symbols of the town’s pervasive economic collapse.

Manufacturing employment in Ottawa County, of which Port Clinton is by far the largest town, plummeted from 55 percent of all jobs in 1965 to 25 percent in 1995 and kept falling.14 Unemployment rose and fell with the national economic tides, but the local booms were never as good as the national booms, and the local hard times were much worse. As late as the 1970s, real wages locally were slightly above the national average, but during the next four decades they fell further and further behind, bottoming out at 25 percent below the national average. By 2012 the average worker in Ottawa County had not had a real raise for nearly half a century, and is now paid 16 percent less in inflation-adjusted dollars than his or her grandfather (or grandmother) was in the early 1970s.

The Port Clinton population, which had jumped 53 percent in the three decades prior to 1970, suddenly stagnated in the 1970s and 1980s, and then fell by 17 percent in the two decades after 1990. Commutes to jobs got longer and longer, as desperate local workers sought employment elsewhere. Most of the downtown shops of my youth stand empty and derelict, driven out of business partly by the Family Dollar and the Walmart on the outskirts of town, and partly by the gradually shrinking paychecks of Port Clinton consumers.

The social impact of those economic hammer blows was initially softened by the family and community bonds that had been so strong in my youth. But as successive graduating PCHS classes entered an ever-worsening local economy, the social norms that had undergirded Port Clinton’s community in the 1950s and 1960s gradually eroded. Juvenile delinquency rates had been just about at the national average in the 1980s but then began to skyrocket, and by 2010 were three times the national average. Increasingly, any PCHS graduate who could escape did. Net departures from Ottawa County among 30-somethings more than doubled from the 1970s to the 2010s, from 13 percent to 27 percent.

Not surprisingly, given the economic stresses and strains, single-parent households in Ottawa County doubled from 1970 to 2010, from 10 percent to 20 percent, and the divorce rate quintupled. The incidence of unwed births in the county rose sharply between 1990 and 2010, from less than 20 percent to nearly 40 percent, outpacing a similar increase among whites nationwide and portending a continuing increase in single parenting in the years ahead. In Port Clinton itself, epicenter of the local economic collapse of the 1980s, the rate of unwed births absolutely exploded in little more than a decade. Between 1978 and 1990, the rate jumped from 9 percent (about half the race-adjusted national average) to about 40 percent (nearly twice the national average). And in the decades that followed, child poverty skyrocketed from less than 10 percent in 1999 to nearly 40 percent in 2013.15

But the story of Port Clinton over the last half century—like the history of America over these decades—is not simply about the collapse of the working class, because the same years have witnessed the birth of a new upper class.

Port Clinton occupies a lovely site on the shores of Lake Erie. In my youth, small summer cottages and modest resorts and fishing camps dotted those shores, interspersed among fruit orchards, and the shoreline felt available to us all. In the past two decades, however, while the traditional economy of Port Clinton was imploding, wealthy lawyers and doctors and businesspeople from Cleveland and Columbus and other major cities of the Midwest have discovered the charms of the lakeshore and the nearby offshore islands and have begun to take these areas over—for second homes, for retirement, and occasionally even for a better quality of life, at the expense of longer commutes to their well-paying jobs back in the city.

Joined by some fortunate local developers, the newcomers have built elaborate mansions and gated communities. These now line the shore almost uninterruptedly for 20 miles on either side of town. Luxury condos ring golf courses and lagoons filled with opulent yachts. One home along the shore in the upscale Catawba area includes an indoor theater and an athletic court. Nowadays you can read ads in adjacent columns of the real estate pages of the Port Clinton News-Herald for near-million-dollar mansions and dilapidated double-wides, and it is possible to walk in less than ten minutes from wealthy estates on the shoreline to impoverished trailer parks inland.

The distribution of income in Ottawa County, once among the most egalitarian in the country, began to skew over these decades: the number of residents at both the top and the bottom increased, and the middle slumped. In 2010, the median household income in the Catawba Island area was more than twice the median household income in the adjoining census tract. Moreover, the pace and concentration of the transformation has been stunning, as the maps in Figures 1.1 and 1.2 reveal. Census tracts with relatively more poor kids are darker, so the maps show that Port Clinton itself (especially outside the immediate downtown) had many more poor kids in 2008–2012 than two decades earlier, but the Catawba residential area along the shore experienced virtually no such change over those decades. In 2011 in the aftermath of the Great Recession, if you drove east from downtown Port Clinton along East Harbor Road, the census tract to your left along the Catawba lakeshore had a child poverty rate of 1 percent, whereas the census tract on the other side of the road had a child poverty rate of 51 percent.

Let’s explore what life is like today for two white kids who live on different sides of that road.

The Millionaire Next Door: The Surprising Secrets of America's Wealthy

<br />The Millionaire Next Door: The Surprising Secrets of America's Wealthy


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1589795474

Product Description

The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don't live in Beverly Hills or on Park Avenue-they live next door. This new edition, the first since 1998, includes a new foreword for the twenty-first century by Dr. Thomas J. Stanley.


Product Details

  • Amazon Sales Rank: #732 in Books
  • Brand: Taylor Trade Publishing
  • Published on: 2010-11-16
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.06" h x .79" w x 6.07" l, .89 pounds
  • Binding: Paperback
  • 272 pages

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  • Great product!

Editorial Reviews

Amazon.com Review
How can you join the ranks of America's wealthy (defined as people whose net worth is over one million dollars)? It's easy, say doctors Stanley and Danko, who have spent the last 20 years interviewing members of this elite club: you just have to follow seven simple rules. The first rule is, always live well below your means. The last rule is, choose your occupation wisely. You'll have to buy the book to find out the other five. It's only fair. The authors' conclusions are commonsensical. But, as they point out, their prescription often flies in the face of what we think wealthy people should do. There are no pop stars or athletes in this book, but plenty of wall-board manufacturers--particularly ones who take cheap, infrequent vacations! Stanley and Danko mercilessly show how wealth takes sacrifice, discipline, and hard work, qualities that are positively discouraged by our high-consumption society. "You aren't what you drive," admonish the authors. Somewhere, Benjamin Franklin is smiling.

From Library Journal
In The Millionaire Next Door, read by Cotter Smith, Stanley (Marketing to the Affluent) and Danko (marketing, SUNY at Albany) summarize findings from their research into the key characteristics that explain how the elite club of millionaires have become "wealthy." Focusing on those with a net worth of at least $1 million, their surprising results reveal fundamental qualities of this group that are diametrically opposed to today's earn-and-consume culture, including living below their means, allocating funds efficiently in ways that build wealth, ignoring conspicuous consumption, being proficient in targeting marketing opportunities, and choosing the "right" occupation. It's evident that anyone can accumulate wealth, if they are disciplined enough, determined to persevere, and have the merest of luck. In The Millionaire Mind, an excellent follow-up to the highly successful first analysis of how ordinary folks can accumulate wealth, Stanley interviews many more participants in a much more comprehensive study of the characteristics of those in this economic situation. The author structures these deeper details into categories that include the key success factors that define this group, the relationship of education to their success, their approach to balancing risk, how they located themselves in their work, their choice of spouse, how they live their daily lives, and the significant differences in the truth about this group vs. the misplaced image of high spenders. Narrator Smith's solid, dead-on reading never fails to heighten the importance of these principles that most twentysomethings should be forced to listen to in toto. Highly recommended for all public libraries. Dale Farris, Groves, TX
Copyright 2001 Reed Business Information, Inc.

Review
The implication of The Millionaire Next Door...is that nearly anybody with a steady job can amass a tidy fortune. (Forbes)

The kind of information that could lift the economic prospects of individuals more than any government policy...The Millionaire Next Door has a theme that I think rings very true..."Hey, I can do it. You can do it too!" (Rush Limbaugh)

[A] Remarkable book. (The Washington Post)

A nerve has been hit....[For] people who want to become wealthy. (USA Today)

A primer for amassing wealth through frugality. (The Boston Globe)

An interesting sociological work. (Business Week)

A fascinating examination of the affluent in American society. (The Dispatch (Lexington, NC), (Nc) Dispatch)

These, for the wise, are tips for all of us....A very readable book. (Cox News Service)

Debunks the image of the rich as high-living spendthrifts. (U.S. News and World Report)

I love the book, The Millionaire Next Door. It talks about how it is a myth that most millionaires in America have inherited their money. The fact is, we have created such a great country over 250 years. We have actually found the way for poor people to go from nothing to huge wealth and to create a life-changing opportunity for their children and grandchildren. We celebrate it, write movies about it, and our libraries are full of books about it. There is nothing wrong with that. (Bernie Sanders)

The authors mine reams of data to show the surprisingly frugal traits millionaires have in common. "The main lesson provided is that high income does not equal wealth," said J.R. Rosskamp, managing director of Veritas Partners, Inc., a business consulting firm. Rosskamp calls "Millionaire Next Door" a "must read, and the earlier the better." (Chicago Tribune)

God's Bankers: A History of Money and Power at the Vatican

<br />God's Bankers: A History of Money and Power at the Vatican


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1416576576

Product Description

A deeply reported, fast-paced exposé of the money and the cardinals-turned-financiers at the heart of the Vatican—the world’s biggest, most powerful religious institution—from an acclaimed journalist with “exhaustive research techniques” (The New York Times).

From a master chronicler of legal and financial misconduct, a magnificent investigation nine years in the making, this book traces the political intrigue and inner workings of the Catholic Church. Decidedly not about faith, belief in God, or religious doctrine, this book is about the church’s accumulation of wealth and its byzantine entanglements with financial markets across the world. Told through 200 years of prelates, bishops, cardinals, and the Popes who oversee it all, Gerald Posner uncovers an eyebrow-raising account of money and power in perhaps the most influential organization in the history of the world.

God’s Bankers has it all: a rare exposé and an astounding saga marked by poisoned business titans, murdered prosecutors, mysterious deaths of private investigators, and questionable suicides; a carnival of characters from Popes and cardinals, financiers and mobsters, kings and prime ministers; and a set of moral and political circumstances that clarify not only the church’s aims and ambitions, but reflect the larger dilemmas of the world’s more recent history. And Posner even looks to the future to surmise if Pope Francis can succeed where all his predecessors failed: to overcome the resistance to change in the Vatican’s Machiavellian inner court and to rein in the excesses of its seemingly uncontrollable financial quagmire. Part thriller, part financial tell-all, this book shows with extraordinary precision how the Vatican has evolved from a foundation of faith to a corporation of extreme wealth and power.


Product Details

  • Amazon Sales Rank: #4306 in Books
  • Published on: 2015-02-03
  • Released on: 2015-02-03
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.00" h x 1.60" w x 6.00" l, .0 pounds
  • Binding: Hardcover
  • 752 pages

Editorial Reviews

Review
"A dogged reporter exhaustively pursues the nefarious enrichment of the Vatican, from the Borgias to Pope Francis.... A meticulous work that cracks wide open the Vatican's legendary, enabling secrecy." (Kirkus)

“A fast-paced read that brings history alive on every page. The book will captivate those who prefer their historical nonfiction spiked with real-life tales of murder, power, and intrigue.” (Booklist)

“Posner uses his superlative investigative skills to craft a fascinating and comprehensive look at the dark side of the Catholic Church…. Accessible and well written, Posner’s is the definitive history of the topic to date.” (Publishers Weekly (starred))

“A highly anticipated book, the result of a nine year investigation by author Gerald Posner. It reads like Robert Ludlow’s fiction [and] paints a picture of murder, double-dealing, and fraud surrounding the bank.” (Michael Smerconish, CNN)

"A stunning exposé by investigative reporter Gerald Posner. As exciting as a mystery thriller." (Providence Journal)

“Expertly shows that theory and conjecture aren’t necessary when the real-life narrative is compelling enough…. Posner’s history of the institution reads like a sprawling novel, full of complex characters and surprising twists….Readers interested in issues involving religion and international finance will find Posner’s work a compelling read.” (Library Journal)

God’s Bankers is often fascinating reading, full of international intrigue….God’s Bankers is meticulously researched. Almost 200 pages of end notes indicate the care Posner took in nine years spent researching his subject….The book tells a compelling story, but never at the expense of journalistic principles. Posner might speculate, but he is always careful to mark it as such, and to point out the facts and primary sources that support or undermine the speculation….His work pulls together existing scholarship and massive amounts of original research to present the closest thing to a definitive account of the workings of money and finance within the Vatican that could be produced without cooperation from the Vatican itself.” (Washington Independent Review of Books)

"An outstanding book" (John L. Allen, journalist for The Boston Globe)

“Why all this reform? Wall Street-lawyer-turned-author Gerald Posner lays it out in his deeply researched, passionately argued book, ‘God's Bankers: A History of Money and Power at the Vatican.’ Posner…is a merciless pitbull of an investigator, marshaling mountains of evidence to make his arguments…. the heart of ‘God's Bankers’ lies in chapters devoted to the church's actions during and immediately after World War II. In these chapters, Posner dissects the church's actions with the eye of a prosecutor.” (Chicago Tribune)

“An exhaustive history of the financial machinations at the center of the church in Rome….Posner weaves an extraordinarily intricate tale of intrigue, corruption and organized criminality….Posner’s gifts as a reporter and storyteller are most vividly displayed in a series of lurid chapters on the American archbishop Paul Marcinkus, the arch-Machiavellian who ran the Vatican Bank from 1971-1989.” (New York Times Book Review)

"The church was with Hitler and Mussolini during the Second World War. Even today, the Church is run on blood money. Blood money from where? By whom? Well, the details are in God’s Bankers. It is a must read for all those who love action-packed and suspense-filled real life incidents. God’s Bankers is more thrilling that Mario Puzo’s Godfather." (The Pioneer Agenda)

"God's Bankers should be read by every Catholic truly interested in Church history." (Catholic Insight)

“A book worth the time if a reader is interested in Roman Catholic Church and European history….The book will be appreciated by those involved in finance. It is chock full of tales of investment schemes involving off-shore ghost companies, shell corporations and holding companies set up to hide the movement of money, the use of tax havens, tax laws (and how to avoid them), and financial instruments that caused millions of dollars to disappear….Some may also appreciate reading about the personalities of popes, the power games and the internecine politics of the Roman Curia (the pope’s administrative wing) that make the current political games played in Washington, D.C., seem amateurish by comparison.” (Financial Advisor Magazine)

About the Author
Gerald Posner was one of the youngest attorneys ever hired by the Wall Street law firm of Cravath, Swaine & Moore. He is the author of eleven books, including New York Times bestsellers, and one a finalist for the Pulitzer in History.  Posner has written dozens of articles for national magazines and papers and has been a regular contributor to NBC, the History Channel, CNN, FOX News, CBS, and MSNBC. He lives in Miami Beach with his wife, author Trisha Posner.

Excerpt. © Reprinted by permission. All rights reserved.
God’s Bankers

1



Murder in London


London, June 18, 1982, 7:30 a.m. Anthony Huntley, a young postal clerk at the Daily Express, was walking to work along the footpath under Blackfriars Bridge. His daily commute had become so routine that he paid little attention to the bridge’s distinctive pale blue and white wrought iron arches. But a yellowish orange rope tied to a pipe at the far end of the north arch caught his attention. Curious, he leaned over the parapet and froze. A body hung from the rope, a thick knot tied around its neck. The dead man’s eyes were partially open. The river lapped at his feet. Huntley rubbed his eyes in disbelief and then walked to a nearby terrace with an unobstructed view over the Thames: he wanted to confirm what he had seen. The shock of his grisly discovery sank in.1 By the time Huntley made his way to his newspaper office, he was pale and felt ill. He was so distressed that a colleague had to make the emergency call to Scotland Yard.2

In thirty minutes the Thames River Police anchored one of their boats beneath Blackfriars’ Number One arch. There they got a close-up of the dead man. He appeared to be about sixty, average height, slightly overweight, and his receding hair was dyed jet black. His expensive gray suit was lumpy and distorted. After cutting him down, they laid the body on the boat deck. It was then they discovered the reason his suit was so misshapen. He had stones stuffed in his trouser pockets, and half a brick inside his jacket and another half crammed in his pants.3 The River Police thought it a likely suicide. They took no crime scene photos before moving the body to nearby Waterloo Pier, where murder squad detectives were waiting.4

There the first pictures were taken of the corpse and clothing. The stones and brick weighed nearly twelve pounds. The name in his Italian passport was Gian Roberto Calvini.5 He had $13,700 in British, Swiss, and Italian currency. The $15,000 gold Patek Philippe on his wrist had stopped at 1:52 a.m. and a pocket watch was frozen at 5:49 a.m. Sandwiched between the rocks in his pockets were two wallets, a ring, cuff links, some papers, four eyeglasses, three eyeglass cases, a few photographs, and a pencil.6 Among the papers was an address book page with the contact details for a former official at the Banca Nazionale del Lavoro; Italy’s Socialist Finance Minister; a prominent London solicitor; and Monsignor Hilary Franco, who held the honorary title of Prelate of the Pope.7 Police never found the rest of the book.

A city coroner arrived at 9:30, two hours after the body’s discovery, and took it to London’s Milton Court morgue.8 There they stripped the corpse, took his fingerprints, and prepared for an autopsy. Their notes reflect that the dead man oddly wore two pairs of underwear.9

London police quickly learned from the Italian embassy that the passport was a fake. And it took only a day to discover the false name was simply a variation of the dead man’s real one: he was sixty-two-year-old Italian banker Roberto Calvi, chairman and managing director of Milan’s Banco Ambrosiano, one of Italy’s largest private banks. He had been missing for a week. A judge there had issued a fugitive warrant because Calvi had jumped bail pending the appeal of a criminal fraud conviction the previous year.

A Roman magistrate and four Italian detectives flew to London to help British police cobble together a personal dossier.10 Calvi had risen from a middle-class family to become the chief of the Ambrosiano. He had turned a sleepy provincial bank into an aggressive international merchant bank. The magistrate informed his British counterpart that Calvi was no ordinary banker. He was involved with some of Italy’s greatest power brokers in a secret Masonic lodge and he was a confidant of the Vatican’s top moneymen.11

Despite his criminal conviction, the Ambrosiano’s board had allowed him to remain at the helm of the bank. Although Calvi publicly promised to rescue his financial empire and restore its reputation, he knew that the Ambrosiano was near collapse under the weight of enormous debts and bad investments.12 The bank’s board of directors had fired him only the day before his body swung from Blackfriars.13

The police began patching together how Calvi ended up in London. His odyssey had begun a week earlier when he had flown from Rome to Venice. From there he went by car to Trieste, where a fishing trawler took him on the short journey across the Gulf of Trieste to the tiny Yugoslavian fishing village of Muggia.14 The moment he left Italy’s territorial waters he became a fugitive. From Muggia, an Italian smuggler arranged for him to be driven overnight to Austria, where he shuttled between several cities for a few days before boarding a private charter in Innsbruck for a flight to London. He spent the last three days of his life in flat 881, a tiny room at the Chelsea Cloisters, a dreary guesthouse in the capital’s posh South Kensington district.15

The number of unanswered questions grew as the investigation continued. They were not even certain how Calvi got to Blackfriars. It was four and a half miles from his guesthouse. On a walk he would have passed half a dozen other bridges, any of which would have been just as suitable for a flashy suicide. Calvi was well known for his entourage of bodyguards. But British investigators found none. Nor could they locate a black briefcase supposedly crammed with sensitive documents.16 Calvi’s waistcoat was buttoned incorrectly, which friends and family told the police was out of character for the compulsive banker.17 He had shaved his trademark mustache the day before his death, but police interpreted that not as a sign of a suicidal man but evidence that he was altering his appearance to successfully stay on the run.18

Two men had been with Calvi in London. Silvano Vittor, a small-time smuggler, had flown with him on the charter. The other, Flavio Carboni, was a flashy Sardinian with diverse business interests and much rumored mob connections.19 They had fled London before detectives could interview them.

The police had also to cope with a flood of false sightings. Many thought they had seen Calvi in his final days, everywhere from the Tower of London to a sex parlor to a nightclub in the company of a cocaine trafficker.20

Police soon confirmed that Calvi had a $3 million life insurance policy that named his family as the only beneficiaries.21 In his spartan hotel room investigators found a bottle of barbiturates, more than enough for a painless suicide. But toxicology reports revealed no trace of any drug. When police interviewed Calvi’s wife, Clara, she said that in one recent telephone call he told her, “I don’t trust the people I’m with anymore.”22 Anna, Calvi’s daughter, told the inspectors that she had spoken to her father three times the day before he died. He seemed agitated and urged her to leave her Zurich home and join her mother in Washington, D.C. “Something really important is happening, and today and tomorrow all hell is going to break loose.”23

Another complication was that Calvi suffered from mild vertigo. The police calculated that he had to be acrobatic to reach his hanging spot. It required climbing over the parapet, descending a narrow twenty-five-foot ladder attached to the side of the bridge, rolling over a three-foot gap in construction scaffolding, and then tying one end of the rope around a pipe and the other around his throat, all the while balancing himself with twelve pounds of rocks and a brick crammed into his pockets, suit, and crotch. Not likely, thought the lead detective.24 Moreover, the police matched the stones to a construction site some three hundred yards east of the Thames. Calvi would have had to pick up the rocks there and return to Blackfriars before putting them into his clothing. But lab tests found no residue on his hands. Also, since the ladder he would have descended was heavily rusted, police expected some trace on his hands, suit, or polished dress shoes. There was none.

The London coroner, Dr. David Paul, expressed no doubts that the cause of death was suicide. He relied on the opinion of Professor Keith Simpson, the dean of British medical examiners, who had performed the autopsy.25 A month after Calvi’s body was found, an inquest was held in the Coroner’s Court. Paul presented the details of the police investigation and autopsy to a nine-person jury. Simpson testified that in his postmortem exam he found no signs of foul play and “there was no evidence to suggest that the hanging was other than a self-suspension in the absence of marks of violence.”26 Thirty-seven others testified, mostly police officers.27 Calvi’s brother, Lorenzo, surprised the inquest with a written statement that revealed that Roberto had tried killing himself a year earlier. Carboni and Vittor, the duo with Calvi in London, refused to return to England but submitted affidavits. When they last saw Calvi late on the night he died, he was relaxed. Nothing seemed out of the ordinary. Police would not discover for another decade that Carboni had left London with Calvi’s briefcase packed with important documents.28

Paul admitted that it was difficult for Calvi to kill himself at Blackfriars. But it would have been just as tough for someone to murder him and leave no trace evidence or injuries on the body.29 Paul took ten hours to set forth his case. He allowed only a twenty-minute lunch break. It was Friday evening and the jury seemed restless to go home. But the coroner insisted they start deliberations.

The six men and three women reported back in under an hour. They were having trouble reaching a verdict. Dr. Paul instructed them that their decision did not have to be unanimous. Seven of nine jurors would suffice for a verdict.30 After another hour, at 10 p.m., they returned with a majority finding that Calvi had killed himself.31

The Calvi family instantly rejected the finding.32 Clara told an Italian newspaper that her husband was murdered and his death was connected to “ferocious struggles for power in the Vatican.”33 Some questioned whether she was motivated by money in pushing a murder theory since Calvi’s life insurance was voided if he killed himself.34 But the Calvis were not the only ones skeptical about the suicide ruling. Italian investigators who had assisted the British police believed there was foul play.35 And businessmen and government officials who knew Calvi were startled by the finding. “Why bother to go to London to do that,” a senior bank director said. The British and Italian press were unanimous that the British inquest seemed a surprisingly incompetent rush to judgment.36 That verdict would probably have been greeted with even greater derision had it then been public knowledge that only days before his death Calvi had written a personal letter—part confessional, part a plea for help—to Pope John Paul II.37 In the letter, Calvi declared he had been a strategic front man for the Vatican in fighting Marxism from Eastern Europe to South America.38 And he warned that upcoming events would “provoke a catastrophe of unimaginable proportions in which the Church will suffer the gravest damage.”39 He pleaded for an immediate meeting with the Pontiff so that he could explain everything. He also claimed to have “important documents” for the Pope.40

The catastrophe Calvi wrote about might have been the Ambrosiano’s collapse, which took place within weeks of his death.41 Early news reports said the bank had a debt of $1.8 billion, much of it guaranteed by the Istituto per le Opere di Religione (the Institute for Works of Religion, or more simply, the Vatican Bank).42 Investigators soon learned the Vatican Bank was the Ambrosiano’s largest shareholder. Did the Vatican itself play a role in the Ambrosiano’s failure? British tabloids quickly dubbed Calvi “God’s Banker.”43 A veritable conspiracy industry in “Who killed Calvi?” sprang up, complete with TV documentaries, books, and even walking tours of Blackfriars Bridge.

Nine months after the coroner’s verdict, three Italian forensics experts conducted a second autopsy but could not resolve whether the death was suicide or murder.44 The Calvis pushed for a new inquest.45 A British appellate court ordered one almost a year to the date after the original hearing.46

A different coroner, Dr. Arthur Gordon Davies, impaneled another jury of nine. This time there was no crammed single day of testimony and deliberations. Instead, the “what’s-the-rush” pacing translated into a nearly two-week hearing. When the jurors got the case they deliberated for three hours before settling unanimously on an “open verdict,” a British bureaucratic loophole that essentially means “we don’t know.” The original suicide finding was vacated. The case was reclassified unsolved and there was no official cause of death.47

The Calvis then petitioned Italian prosecutors to get a new investigation of the death.48 The family hired U.S.-based Kroll Security Group—a preeminent private investigative company—to conduct a fresh probe.49 Kroll concluded that both British inquests were “incomplete at best and potentially flawed at worst,” as they had glossed over evidence that indicated Calvi might have been drugged and murdered.50 The following year, the Calvis retained two former Scotland Yard forensic scientists to utilize a laser test not available in 1982 to reexamine the clothing. They discovered water staining on Calvi’s suit and unexplained marks on the back of his jacket. It was “almost inconceivable,” they concluded, that Calvi alone had climbed to the spot on the bridge’s scaffolding from which he was hanged.51

In 1998, sixteen years after his death, the Calvi family convinced a Roman judge to order the body exhumed. Pathologists at Milan’s respected Institute of Forensic Medicine conducted a thorough autopsy.52 They cited suspicious circumstantial evidence, including possible bruises on the banker’s wrist and foot. They also identified traces of another person’s DNA on Calvi’s underwear.53 The team offered a complicated explanation of how water stains on the clothing—read against a table of the tides on the fateful night—suggested it was likely murder. But there still was not enough compelling evidence to move the case forward.

Meanwhile, Italian prosecutors had a problem. Too many people were either confessing to killing Calvi or trying to cut deals on their own criminal cases by asserting they knew who had done it. So many claimed to have “the inside story” that after a while an offer to solve the Calvi case became the quickest way for a plea-bargaining defendant to lose credibility.

In 2002, when movers were packing up the Institute of Forensic Medicine in preparation for a cross-town move, they stumbled across some mislaid evidence—Calvi’s tongue, part of his intestines and neck, and some fabric from his suit and shirt—in the back of a cupboard. Three Roman investigating magistrates ordered the evidence be turned over for yet another examination. Scientists applied the latest forensic techniques, some of which had not existed just a couple of years earlier. If Calvi had climbed into place over the bridge’s scaffolding, reenactments demonstrated that he would have had microscopic iron filings under his nails or on his shoes and socks. There were none. And markings on his upper vertebrae indicated two points of strangulation. Calvi was strangled before the cord was placed around his neck.54

The Calvis cited those findings in demanding the criminal investigation move faster. But prosecutors were in no hurry, hoping to avoid any mistakes in a case already marked by many missteps. It took another three years before they had enough evidence to issue murder indictments against five people, including the former chief of the secret Masonic lodge of which Calvi was a member and also Flavio Carboni, who was with Calvi in London over the fateful days in 1982.55

A high security courtroom in Rome’s Rebibbia Prison was built for the sensational televised trial, which got under way on October 6, 2005.56 The murder case was circumstantial. And the motive was a convoluted one involving embezzlement and blackmail. Still, many legal observers expected a guilty verdict. The jury got the trial after twenty months but deliberated only a day and a half. Almost two years to the date of their arrest, the defendants received the verdict: not guilty on all charges.57

“It [the acquittal] has killed Calvi all over again,” a stunned prosecutor told the press.58 In 2010 and 2011 two Italian appellate courts upheld the acquittals.59

•  •  •

What did Calvi know that was so important that someone killed him and disguised it as an elaborate public suicide? That cannot be answered without pointing a spotlight on the corridors of power and money inside the Vatican. The underlying tale is how for centuries the clerics in Rome, trusted with guarding the spiritual heritage of the Catholic faithful, have fought an internecine war over who controls the enormous profits and far-flung businesses of the world’s biggest religion. Only by examining the Catholic Church’s often contentious and uneasy history with money is it possible to expose the forces behind Calvi’s death. Ultimately, Calvi’s murder is a prequel to understanding the modern-day scandals from St. Peter’s and fully appreciating the challenges faced by Pope Francis in trying to reform an institution in which money has so often been at the center of its most notorious scandals.

Exploring Calvin and Hobbes: An Exhibition Catalogue

<br />Exploring Calvin and Hobbes: An Exhibition Catalogue


Product ASIN:

1449460364

Product Description

Enjoy this beautiful companion book to the extensive Exploring Calvin and Hobbes exhibition at the Billy Ireland Cartoon Library. Includes an in-depth, original,and lengthy interview with Bill Watterson.

Exploring Calvin and Hobbes is the catalogue for an exhibition by the same name at the Billy Ireland Cartoon Library & Museum at Ohio State University that ran in 2014. The exhibit is Bill Watterson's personal exploration of how the wonder of Calvin and Hobbes came to be. It includes original art of Calvin and Hobbes, along with Watterson's original commentary. The show also includes art from cartoons and cartoonists that Watterson has identified as influential in the development of his art, including Peanuts, Pogo, Krazy Kat, Doonesbury, Pat Oliphant, Jim Borgman, Flash Gordon, Bloom County, and Steadman. The book also includes an extensive, original interview with Watterson by Jenny Robb, the exhibition's curator.

The Billy Ireland Cartoon Library & Museum is the repository of the Bill Watterson Deposit Collection (including the entirety of Watterson's Calvin and Hobbes artwork).


Product Details

  • Amazon Sales Rank: #2347 in Books
  • Published on: 2015-03-10
  • Released on: 2015-03-10
  • Original language: English
  • Number of items: 1
  • Dimensions: 8.50" h x .60" w x 11.00" l, .0 pounds
  • Binding: Paperback
  • 160 pages

Editorial Reviews

Review
"America's Most Profound Comic Strip" (Christopher Caldwell, The Wall Street Journal)

"Bill Watterson talks: This is why you must read the new ‘Exploring Calvin and Hobbes’ book ... For any true fan of cartooning, it is a must-read, a must-buy, a must-pick-up ...

"Bill Watterson has delivered a gift, a trip down memory lane that is populated densely on each side with personal and professional insights — some grippingly specific, some that ring universal, many that resonate as both." (Michael Cavna, The Washington Post)

About the Author
Bill Watterson is the creator of Calvin and Hobbes, one of the most popular and well-regarded cartoon strips of the twentieth century. Calvin and Hobbes appeared in newspapers from November 1985 until Watterson's retirement in 1995.

Online:

gocomics.com/calvinandhobbes/

Proof of Heaven: A Neurosurgeon's Journey into the Afterlife

<br />Proof of Heaven: A Neurosurgeon's Journey into the Afterlife


Product ASIN:

1451695195

Product Description

A Scientist's Case for the Afterlife...

Thousands of people have had near-death experiences, but scientists have argued that they are impossible. Dr. Eben Alexander was one of those scientists. A highly trained neurosurgeon, Alexander knew that NDEs feel real, but are simply fantasies produced by brains under extreme stress.

Then, Dr. Alexander’s own brain was attacked by a rare illness. The part of the brain that controls thought and emotion—and in essence makes us human—shut down completely. For seven days he lay in a coma. Then, as his doctors considered stopping treatment, Alexander’s eyes popped open. He had come back.

Alexander’s recovery is a medical miracle. But the real miracle of his story lies elsewhere. While his body lay in coma, Alexander journeyed beyond this world and encountered an angelic being who guided him into the deepest realms of super-physical existence. There he met, and spoke with, the Divine source of the universe itself.

Alexander’s story is not a fantasy. Before he underwent his journey, he could not reconcile his knowledge of neuroscience with any belief in heaven, God, or the soul. Today Alexander is a doctor who believes that true health can be achieved only when we realize that God and the soul are real and that death is not the end of personal existence but only a transition.

This story would be remarkable no matter who it happened to. That it happened to Dr. Alexander makes it revolutionary. No scientist or person of faith will be able to ignore it. Reading it will change your life.


Product Details

  • Amazon Sales Rank: #527 in Books
  • Brand: Simon & Schuster
  • Published on: 2012-10-23
  • Released on: 2012-10-23
  • Original language: English
  • Number of items: 1
  • Dimensions: 8.37" h x .60" w x 5.50" l, 1.20 pounds
  • Binding: Paperback
  • 196 pages

Features

  • Great product!

Editorial Reviews

From Booklist
A neurosurgeon’s first-person account of his near-death experience after an E. coli meningitis-related seizure and seven-day coma will reassure afterlife believers, though it is unlikely to convince skeptics. Alexander’s credentials are impressive: medical school at Duke and 15 years at Harvard-affiliated hospitals. But to agnostics and atheists, Alexander may not come across as a completely objective observer. He writes that he attended his Episcopal church even as he questioned how God, heaven, and an afterlife could exist, yet the heaven he describes seeing certainly seems like a biblical one; a typical line is, “the visual beauty of the silvery bodies of those scintillating beings above.” His story includes interesting asides about past struggles with alcohol and with adoption. (His birth mother delivered him when she was 16 and for years did not want to meet him.) But the book mostly focuses on religion. It ends with a request to support Eternea, Alexander’s nonprofit that has as its mission, “increasing global acceptance of the reality of our eternal spiritual existence . . . under an all-loving God.” For believers, not skeptics. --Karen Springen

Review
“Dr. Eben Alexander’s near-death experience is the most astounding I have heard in more than four decades of studying this phenomenon. [He] is living proof of an afterlife.” (Raymond A. Moody, M.D., Ph.D., author of Life After Life )

“Eben Alexander brings a unique perspective to the sacred world combining a glorious, personal vision of spiritual consciousness with patient, insightful scientific inquiry. Proof of Heaven is a compelling story of what may lie ahead for all of us in the life beyond this one. We have nothing to fear.” —Allan J. Hamilton, MD, FACS, author of The Scalpel and the Soul and Zen Mind, Zen Horse

“I can highly recommend this important book that has the potential to break many scientific taboos.” —Dr. Pim van Lommel, cardiologist, author of Consciousness Beyond Life: The Science of the Near-Death Experience

Proof of Heaven is more than just an awe-inspiring account of a profound encounter with spiritual reality. Dr. Alexander’s neuroscience career taught him that near-death experiences are brain-based illusions, and yet his personal experience left him dumbstruck. His honest struggle to make sense of this unforgettable journey is a gripping story, unique in the literature of spiritual experiences, that may well change how we understand our role in the universe.” —Bruce Greyson, MD, co-editor of The Handbook of Near-Death Experiences: Thirty Years of Investigation

About the Author
Eben Alexander, MD, has been an academic neurosurgeon for the last twenty-five years, including fifteen years at the Brigham & Women’s and the Children’s Hospitals and Harvard Medical School in Boston. He is the author of Proof of Heaven and The Map of Heaven. Visit him at EbenAlexander.com.