A frank assessment of economists’ blindness before the financial crash in 2007–2008 and what must be done to avert a sequel The failure of economists to anticipate the global financial crisis and mitigate the impact of the ensuing recession has spurred a public outcry. Economists are under...

This bold re-examination of the history of U.S. economic growth is built around a novel claim, that productive capacity grew dramatically across the Depression years (1929-1941) and that this advance provided the foundation for the economic and military success of the United States during the...

As the economic giants of Asia and elsewhere have awakened, Western leaders have increasingly struggled to maintain economic stability. The international financial crisis that began in 2007 is but one result of the emerging nations’ increased gravitational pull. In this vividly written and...

Two of the greatest financial fiascos of all time took place at the same time and were instigated by two acquaintances: the Mississippi Bubble, on which John Law at first made a vast fortune and gained sway over French finances; and the South Sea Bubble, launched by Law and Thomas Pitt, Jr.,...

Predicting the future is serious business for virtually all public and private institutions, for they must often make important decisions based on such predictions. This visionary book explores how institutions from legislatures to corporations might improve their predictions and arrive at...

Frontmatter -- CONTENTS -- Foreword -- Preface -- ONE. The March of Capitalism -- TWO. The Challenge of Slow Growth -- THREE. American Contracts -- FOUR. The Soviet Bloc in Transition -- FIVE. The Chinese Puzzle -- SIX. Japan at the Crossroads -- SEVEN. Whither Northern Europe? -- EIGHT....