In this book, Thompson and Hickson strongly challenge the standard interpretation of the basis of growth and viability of dominant wealthy nations. Briefly, efforts of the economically wealthy and the government leaders to increase their wealth and protect it from aggressors, internal and...

While endogenous asset-price bubbles cannot exist without informationally monopolistic market conditions, even when such conditions exist, such bubbles occur under laissez faire only for relatively short durations and only as random and therefore unpredictable phenomena such as in mixed-strategy...