Why economies grow

the forces that shape prosperity and how we can get them working again

By Madrick, Jeffrey G.

Publishers Summary:
"The past two years have been an unhappy and uncertain time for the once-unstoppable U.S. economy. The dot-com bubble has burst, the major stock indexes have lost hundreds of billions of dollars of value, there is a crisis of confidence in corporate governance, and the economy as a whole is growing sluggishly if at all. These developments have many people asking questions they thought we'd already answered: What makes economies grow? How can we get ours healthy again?" "There are any number of one-dimensional answers to be had. Some focus on the national savings rate. Others take for granted that growth is driven by new technologies. In his new book, New York Times columnist Jeff Madrick argues that these factors are not as dominant as many believe and all the emphasis they receive leads us to ignore other crucial factors. The most important of those neglected is the strength of market demand itself.". "The thesis at the heart of Why Economies Grow is that the process of growth is far more complex than most pundits, business journalists, and even economists believe. But it can be understood. Madrick re-examines the 1990s in light of earlier booms, shows why technology did not give rise to a "new economy," and tells what we need to do to restore rapid growth to the U.S. economy."--BOOK JACKET.

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ISBN
978-0-46504-311-8
Publisher
New York, NY : Basic Books, c2002.


REVIEWS

Library Journal

Reviewed on October 1, 2002

Economists believe that, to make an economy grow, many factors must be in place, such as sufficient capital or abundant natural resources, while most Americans believe that technological innovation is the sine qua non of prosperity. Madrick, a New York Times business columnist and cable TV pundit, devotes over three-quarters of this work to refuting the technological innovation thesis. Rather...Log In or Sign Up to Read More

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