Includes bibliographical references (pages 223-262) and index.

In Illusions of Prosperity, Blau launches a far-reaching assault on the idea that "the market" knows best. Blau writes that while the share of the national income held by the bottom four-fifths of the population (the poor and broad middle class combined) has continued to decline, the top fifth gained 97 percent of the increase in total household income between 1979 and 1994. Blau looks at recent reforms in NAFTA, education, job training, welfare, and much more, showing that the new social policies have made matters worse, because reforms that rely on the market can't compensate for the market's deficiencies.

Instead, he calls for a stronger, more caring government to counter the debilitating effects of the market, and he urges the development of the broadest possible political alliances to ensure economic security.

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