BOOK REVIEW: SQUEEZED Why Our Families Can’t Afford America (by Alissa Quart 2018)
Book Reviewed by Patrick Blair on November 3, 2018
First Impression Versus Lasting Impression: When first hearing the title, I envisioned a book filled with facts and figures that proved why the U.S. populous is struggling financially. The subtitle made me cringe, because it implies that U.S. families don’t need to take responsibility for their finances. However, after reading all 265 pages, I found no hint of a victim mentality. Rather, the book is an in-depth narrative about the modern woes of the U.S. middle-class. To my surprise, the book was a vast collection of personal stories with only a modest amount of economic discussion.
The Book in a Word: SOBERING.
Summary: The author, Alissa Quart, shares her personal, career, and financial struggles as a new mother who sees how the current U.S. economic environment heavily penalizes those with young children. Quart methodically and artfully sheds light on current economic woes like the hyper-educated poor, expensive day care, the gig economy, unreasonably priced housing, and the failing job market. With the style of an investigative journalist, Quart recounts the real-life stories of many struggling to maintain or achieve middle-class status. Rather than advocating personal solutions, the book oozes cathartic psychology and pushes political solutions.
What I Liked the Most: The flowery, evocative language really helped me connect with the plight of some of those interviewed, because of the very human descriptions of their perspectives and emotions.
What I liked the least: The level of detail is a double-edged sword. At times, the overwhelming detail and digressions of the stories of those interviewed was difficult to follow and distracted from the powerful message of the book.
Recommended for: those seeking deep insight into modern socio-economic trends. I recommend Squeezed for advanced readers who are looking to shape their future. There are tremendous insights and perspectives to be gained in the book.
Not Recommended for: those seeking straightforward personal finance insight. Reading Squeezed might send you into a depressive tailspin.
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Reading Level: Basic … Intermediate … Advanced … Scholarly.
Interesting Concept: Quart coins the term “middle precariat”, which describes those struggling to stay middle class, who are at higher end of those “burdened with temporary, low-paid, and part-time jobs.” See page 6 for a more complete definition.
Great Quotes: “‘The Wealthy Hand-to-Mouth’ describe a group with an enviable array of illiquid assets like houses and retirement accounts who nonetheless see themselves as financially struggling.” (pp. 96-97). “The hidden driver of the [second act] industry is the loss by some people of their narrative arc.” (p.172). “For those who were members of groups who have been historically excluded and oppressed, from single mothers to parents of color, their financial squeeze had sometimes become a strangle. Leaning in and work-life balance very quickly seemed like hooey.” (p.251).
Spiritual Content: None, although it delves deeply into the lives and emotions of those under financial stress. The book has a strong political and philosophical disposition.
Book Citation: Quart, Alissa. Squeezed: Why Our Families Can't Afford America. New York: Ecco, 2018.
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