"The solution to inequality, environmental degradation, and other deficits of capitalism is better capitalism. The Power of Creative Destruction draws on cutting-edge research to argue that what we need today is not revolution but reform: pro-competitive policies that enable innovation while...

Cover -- Contents -- Series Foreword -- Acknowledgments -- Contributors -- I Introduction -- 1 Arguments for and against Policies to Promote National Champions -- II Analyses in Dynamic Settings -- 2 Some Thoughts on Industrial Policy and Growth -- 3 National Champions and Economic Growth -- 4...

In a cross-section of countries, government regulation is strongly negatively correlated with social capital. We document this correlation, and present a model explaining it. In the model, distrust creates public demand for regulation, while regulation in turn discourages social capital...