Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity
Yale University Press, 2007 - Business & Economics - 321 pages
In this important book, William J. Baumol, Robert E. Litan, and Carl J. Schramm contend that the answers to these questions lie within capitalist economies, though many observers make the mistake of believing that "capitalism" is of a single kind. Writing in an accessible style, the authors dispel that myth, documenting four different varieties of capitalism, some "Good" and some "Bad" for growth. The authors identify the conditions that characterize Good Capitalism--the right blend of entrepreneurial and established firms, which can vary among countries--as well as the features of Bad Capitalism. They examine how countries catching up to the United States can move faster toward the economic frontier, while laying out the need for the United States itself to stick to and reinforce the recipe for growth that has enabled it to be the leading economic force in the world. This pathbreaking book is a must read for anyone who cares about global growth and how to ensure America's economic future.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
advance American antitrust beneﬁts big-ﬁrm capitalism capitalist central planning chapter China commercial companies competition continental Europe costs coun country’s culture decades deﬁnition democracy developing countries difﬁcult econ economic growth economists Edmund Phelps enterprises entrepre entrepreneurial capitalism entrepreneurship Europe and Japan European example ﬁelds ﬁnancial ﬁnancing ﬁnd ﬁnding ﬁrst foreign foreign direct investment form of capitalism funds Gini coefficient global grow growth rate guidance important improve incentives India individuals industries inﬂuence innovative entrepreneurs institutions investment investors Japan Japanese labor large ﬁrms leaders least less Lisbon agenda measures ment nomic OECD ofﬁce ofﬁcials oligarchic output patent percent policy makers political population problem proﬁts Queen game rapidly reason reform rich countries role sector share shock therapy signiﬁcant societies speciﬁc start-up state-guided capitalism statistical successful sufﬁcient tion trade United universities venture Washington Consensus workers World Bank