Capitalism in America
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Where does innovation come from, and how does it spread through a
society? And why do some eras see the fruits of innovation spread
more democratically, and others, including our own, see the
opposite? In Capitalism in America, Alan Greenspan distils a
lifetime of grappling with these questions into a master reckoning
with the decisive drivers of the US economy over the course of its
history. In partnership with the journalist and historian Adrian
Wooldridge, he unfolds a tale spanning vast landscapes, titanic
figures, triumphant breakthroughs, enlightenment ideals as well as
profound moral failings. Every crucial debate is addressed - from
the role of slavery in the antebellum Southern economy to the real
impact of Roosevelt's New Deal and America's violent mood swings in
its openness to global trade.At heart, the authors argue, America's
genius has been its tolerance for the effects of creative
destruction, the ceaseless churn of the old giving way to the new,
driven by new people and new ideas. At a time when productivity
growth has again stalled, stirring up the populist furies, and the
continuation of American pre-eminence seems increasing uncertain,
Capitalism in America makes for urgent reading.
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