The Legacy Of Joseph A Schumpeter

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Prophet of Innovation

Author : Thomas K. McCraw
Publisher : Harvard University Press
ISBN 13 : 0674736966
Total Pages : 734 pages
Book Rating : 4.6/5 (747 download)

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Book Synopsis Prophet of Innovation by : Thomas K. McCraw

Download or read book Prophet of Innovation written by Thomas K. McCraw and published by Harvard University Press. This book was released on 2010-03-30 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pan Am, Gimbel’s, Pullman, Douglas Aircraft, Digital Equipment Corporation, British Leyland—all once as strong as dinosaurs, all now just as extinct. Destruction of businesses, fortunes, products, and careers is the price of progress toward a better material life. No one understood this bedrock economic principle better than Joseph A. Schumpeter. “Creative destruction,” he said, is the driving force of capitalism. Described by John Kenneth Galbraith as “the most sophisticated conservative” of the twentieth century, Schumpeter made his mark as the prophet of incessant change. His vision was stark: Nearly all businesses fail, victims of innovation by their competitors. Businesspeople ignore this lesson at their peril—to survive, they must be entrepreneurial and think strategically. Yet in Schumpeter’s view, the general prosperity produced by the “capitalist engine” far outweighs the wreckage it leaves behind. During a tumultuous life spanning two world wars, the Great Depression, and the early Cold War, Schumpeter reinvented himself many times. From boy wonder in turn-of-the-century Vienna to captivating Harvard professor, he was stalked by tragedy and haunted by the specter of his rival, John Maynard Keynes. By 1983—the centennial of the birth of both men—Forbes christened Schumpeter, not Keynes, the best navigator through the turbulent seas of globalization. Time has proved that assessment accurate. Prophet of Innovation is also the private story of a man rescued repeatedly by women who loved him and put his well-being above their own. Without them, he would likely have perished, so fierce were the conflicts between his reason and his emotions. Drawing on all of Schumpeter’s writings, including many intimate diaries and letters never before used, this biography paints the full portrait of a magnetic figure who aspired to become the world’s greatest economist, lover, and horseman—and admitted to failure only with the horses.

The Legacy of Joseph A. Schumpeter

Author : Horst Hanusch
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 408 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Legacy of Joseph A. Schumpeter by : Horst Hanusch

Download or read book The Legacy of Joseph A. Schumpeter written by Horst Hanusch and published by Edward Elgar Publishing. This book was released on 1999 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents an overview of the widespread significance of Schumpeter's thought. The first part examines the reception accorded to Schumpeter's ideas by his contemporaries, whilst the second examines the impact of his scientific ideas from the 1950s to the 1970s. Part three covers the renewed influence of Schumpeter's thought in the 1980s and part four highlights the importance of Schumpeterian ideas for modern macroeconomic theories. The final part of the book demonstrates the influence of his thought in such other fields as public finance, sociology, politics and history.

The Contribution of Joseph A. Schumpeter to Economics

Author : Richard Arena
Publisher : Routledge
ISBN 13 : 1134585861
Total Pages : 519 pages
Book Rating : 4.1/5 (345 download)

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Book Synopsis The Contribution of Joseph A. Schumpeter to Economics by : Richard Arena

Download or read book The Contribution of Joseph A. Schumpeter to Economics written by Richard Arena and published by Routledge. This book was released on 2002-04-18 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection constitutes an examination of Schumpeter's legacy that is wider than any yet attempted. As one of the key economists of the twentieth century, Schumpeter's economics is viewed in the context of its relation to purer Austrian theories of the free market, Keynesian macroeconomics, the early neoclassicism of Marshall and Walras, and a persuasive argument made for its centrality to the discipline as a whole.

Joseph Alois Schumpeter

Author : Wolfgang F. Stolper
Publisher : Princeton University Press
ISBN 13 : 0691194491
Total Pages : 421 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Joseph Alois Schumpeter by : Wolfgang F. Stolper

Download or read book Joseph Alois Schumpeter written by Wolfgang F. Stolper and published by Princeton University Press. This book was released on 2019-01-15 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this major scholarly study of the life of Joseph A. Schumpeter, one of the great intellectual figures of the twentieth century, the distinguished economist Wolfgang Stolper delves into the mind of his former teacher, exploring the development of his ideas and, especially, their influence on politics and public policy. After reflecting briefly on Schumpeter the man, Stolper explains the evolution of Schumpeter's work, particularly his insights during the 1920s on public finance, his contributions to monetary theory and the study of business cycles, and his writings on socialism. Stolper goes on to desribe and evaluate Schumpeter's public activities following World War I and his role as a finance minister, placing the development of his thought in the turbulence political context of his times. Drawing on a vast array of new and exciting sources, Stolper paints a portrait of his mentor as a decent, ambitious, and complex man whose many insights into economy and society found their way outside of the academy and into the practical world of economic policy. All readers interested in the history of economic thought and twentieth-century political and intellectual history will find this book invaluable. Wolfgang Stolper is Professor Emeritus of Economics at the University of Michigan. He is author of The Structure of the East German Economy and Planning Without Facts and has made seminal contributions to international economics. Originally published in 1994. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Joseph A. Schumpeter

Author : Esben S. Andersen
Publisher : Palgrave Macmillan
ISBN 13 : 9781403996275
Total Pages : 272 pages
Book Rating : 4.9/5 (962 download)

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Book Synopsis Joseph A. Schumpeter by : Esben S. Andersen

Download or read book Joseph A. Schumpeter written by Esben S. Andersen and published by Palgrave Macmillan. This book was released on 2011-08-30 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines Schumpeter's dramatic theory of social and economic evolution as the pivot of his life and work, resolving apparent paradoxes and clarifying Schumpeter's challenges to economists and other social scientists.

Entrepreneurship and Innovation. About the legacy of Joseph Schumpeter

Author : Kai Wright
Publisher : GRIN Verlag
ISBN 13 : 3656933758
Total Pages : 15 pages
Book Rating : 4.6/5 (569 download)

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Book Synopsis Entrepreneurship and Innovation. About the legacy of Joseph Schumpeter by : Kai Wright

Download or read book Entrepreneurship and Innovation. About the legacy of Joseph Schumpeter written by Kai Wright and published by GRIN Verlag. This book was released on 2015-04-01 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2014 in the subject Business economics - General, grade: 1,7, University of London, course: Entrepreneurship and Innovation, language: English, abstract: Joseph Schumpeter had three goals in his life: To become the greatest lover in Austria, the greatest horseman in Europe and the greatest economist in the world. (Sandmo, 2011) I cannot assess his achievements in the first two areas but there is no doubt that he became an important economist and father of entrepreneurship and innovation research. This essay will show how Joseph Schumpeter influenced the evolution of conceiving and developing concepts of entrepreneurship and innovation. This essay will be structured in three sections. In the first section I will explain Schumpeter’s theory on equilibrium and economic development and I will describe the role of the entrepreneur as an agent of change, also taking into account the time context and his peers. The second section will show how Schumpeter became the foundation and a source of inspiration for subsequent scholars in the area of entrepreneurship and innovation research. The last section will critically look at the importance of Schumpeter for our understanding of entrepreneurship and innovation but also the limitations of his work.

Imperialism and Social Classes

Author : Joseph A. Schumpeter
Publisher : Ludwig von Mises Institute
ISBN 13 : 161016430X
Total Pages : 194 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Imperialism and Social Classes by : Joseph A. Schumpeter

Download or read book Imperialism and Social Classes written by Joseph A. Schumpeter and published by Ludwig von Mises Institute. This book was released on 1972 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Schumpeter was not a member of the Austrian School, but he was an enormously creative classical liberal, and this 1919 book shows him at his best. He presents a theory of how states become empires and applies his insight to explaining many historical episodes. His account of the foreign policy of Imperial Rome reads like a critique of the US today. The second essay examines class mobility and political dynamics within a capitalistic society. Overall, a very important contribution to the literature of political economy.

The Knowledge Growth Regime

Author : Cristiano Antonelli
Publisher : Springer
ISBN 13 : 3030055086
Total Pages : 197 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis The Knowledge Growth Regime by : Cristiano Antonelli

Download or read book The Knowledge Growth Regime written by Cristiano Antonelli and published by Springer. This book was released on 2019-03-16 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: ‘This important new book provides a penetrating, novel analysis of the key role played by knowledge when viewed through the lens of Schumpeterian economics. It is loaded with important insights that highlight the primacy of knowledge and innovation to unleash economic growth.’ —David B. Audretsch, Indiana University Bloomington, USA This book combines the tools elaborated by the economics of knowledge and the legacy of Joseph Schumpeter to explore the emergence of the new knowledge economy and the shift away from the manufacturing industries. Antonelli analyzes the characteristics of the innovation process as a creative response based upon the accumulation, generation and exploitation of knowledge. He highlights the new structure of advanced economies, where knowledge is at the same time the prime input and output. With special attention to the limits of the new knowledge growth regime, raised by the role of finance, income distribution and intellectual property rights, this Palgrave Pivot recommends appropriate economic policies based upon an Open Technology approach.

Market Structure and Innovation

Author : Morton I. Kamien
Publisher : Cambridge University Press
ISBN 13 : 9780521293853
Total Pages : 252 pages
Book Rating : 4.2/5 (938 download)

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Book Synopsis Market Structure and Innovation by : Morton I. Kamien

Download or read book Market Structure and Innovation written by Morton I. Kamien and published by Cambridge University Press. This book was released on 1982-02-26 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technical advance requires resources and is motivated by the quest for profits; therefore, the rate and direction of advance is determined by the economic system. Recognition of this fact has focused attention on the performance of the market economy in the allocation of resources to technical advance, and the consequent body of research is surveyed and synthesised in this book. The theories of market structure and innovation proposed by Schumpeter, Galbraith, Arrow, Schmookler, Scherer, Mansfield, Phillips, Barzel, Kamien and Schwartz, Loury, Nelson and Winter, Grabowski, Dasgupta and Stiglitz, and others are presented in an integrated form. These theories deal with the nature of competition, the incentives to innovate and the pace of innovative activity under different market structures, and the existence of a market structure that yields the most rapid rate of innovation. In addition, the findings of seventy empirical studies dealing with various facets of the microeconomics of technical innovation are presented. The book is designed to be accessible to economists working in a variety of situations - in universities, business and government - and who are concerned with questions of technical innovation. It is also suitable for senior-level undergraduates and first year graduate students approaching the subject in a comprehensive way for the first time.

Creative Destruction

Author : Richard Foster
Publisher : Crown Currency
ISBN 13 : 0307779319
Total Pages : 386 pages
Book Rating : 4.3/5 (77 download)

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Book Synopsis Creative Destruction by : Richard Foster

Download or read book Creative Destruction written by Richard Foster and published by Crown Currency. This book was released on 2011-04-20 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turning conventional wisdom on its head, a Senior Partner and an Innovation Specialist from McKinsey & Company debunk the myth that high-octane, built-to-last companies can continue to excel year after year and reveal the dynamic strategies of discontinuity and creative destruction these corporations must adopt in order to maintain excellence and remain competitive. In striking contrast to such bibles of business literature as In Search of Excellence and Built to Last, Richard N. Foster and Sarah Kaplan draw on research they conducted at McKinsey & Company of more than one thousand corporations in fifteen industries over a thirty-six-year period. The industries they examined included old-economy industries such as pulp and paper and chemicals, and new-economy industries like semiconductors and software. Using this enormous fact base, Foster and Kaplan show that even the best-run and most widely admired companies included in their sample are unable to sustain their market-beating levels of performance for more than ten to fifteen years. Foster and Kaplan's long-term studies of corporate birth, survival, and death in America show that the corporate equivalent of El Dorado, the golden company that continually outperforms the market, has never existed. It is a myth. Corporations operate with management philosophies based on the assumption of continuity; as a result, in the long term, they cannot change or create value at the pace and scale of the markets. Their control processes, the very processes that enable them to survive over the long haul, deaden them to the vital and constant need for change. Proposing a radical new business paradigm, Foster and Kaplan argue that redesigning the corporation to change at the pace and scale of the capital markets rather than merely operate well will require more than simple adjustments. They explain how companies like Johnson and Johnson , Enron, Corning, and GE are overcoming cultural "lock-in" by transforming rather than incrementally improving their companies. They are doing this by creating new businesses, selling off or closing down businesses or divisions whose growth is slowing down, as well as abandoning outdated, ingrown structures and rules and adopting new decision-making processes, control systems, and mental models. Corporations, they argue, must learn to be as dynamic and responsive as the market itself if they are to sustain superior returns and thrive over the long term. In a book that is sure to shake the business world to its foundations, Creative Destruction, like Re-Engineering the Corporation before it, offers a new paradigm that will change the way we think about business.

Toward Leader Democracy

Author : Jan Pakulski
Publisher : Anthem Press
ISBN 13 : 1843317710
Total Pages : 194 pages
Book Rating : 4.8/5 (433 download)

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Book Synopsis Toward Leader Democracy by : Jan Pakulski

Download or read book Toward Leader Democracy written by Jan Pakulski and published by Anthem Press. This book was released on 2012-01-15 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s liberal democracies, does the political process focus on the people, or on the political leaders representing them? Building upon the ideas of Joseph Schumpeter and Max Weber, ‘Toward Leader Democracy’ argues that we are currently seeing a movement toward an increasingly pronounced focus on political leaders – ‘leader democracy’. This form of democracy is fashioned by the political will, determination and commitment of top politicians, and is exercised through elite persuasion that actively shapes the preferences of voters so as to give meaning to political processes. As the text reveals, this marks a definite evolution within the world’s ‘advanced democracies’: democratic representation is today realised increasingly through active political leadership, as opposed to the former practices of statistically ‘mirroring’ constituencies, or the deliberative self-adjustment of the executive to match citizen preferences.

Handbook of the History of Economic Thought

Author : Jürgen Backhaus
Publisher : Springer Science & Business Media
ISBN 13 : 1441983368
Total Pages : 725 pages
Book Rating : 4.4/5 (419 download)

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Book Synopsis Handbook of the History of Economic Thought by : Jürgen Backhaus

Download or read book Handbook of the History of Economic Thought written by Jürgen Backhaus and published by Springer Science & Business Media. This book was released on 2011-11-12 with total page 725 pages. Available in PDF, EPUB and Kindle. Book excerpt: This reader in the history of economic thought challenges the assumption that today’s prevailing economic theories are always the most appropriate ones. As Leland Yeager has pointed out, unlike the scientists of the natural sciences, economists provide their ideas largely to politicians and political appointees who have rather different incentives that might prevent them from choosing the best economic theory. In this book, the life and work of each of the founders of economics is examined by the best available expert on that founding figure. These contributors present rather novel and certainly not mainstream interpretations of the founders of modern economics. The primary theme concerns the development of economic thought as this emerged in the various continental traditions including the Islamic tradition. These continental traditions differed substantially, both substantively and methodologically, from the Anglo-Saxon orientation that has been dominant in the last century for example in the study of public finance or the very construct of the state itself. This books maps the various channels of continental economics, particularly from the late-18th through the early-20th centuries, explaining and demonstrating the underlying unity amid the surface diversity. In particular, the book emphasizes the writings of John Stuart Mill, his predecessor David Ricardo and his follower Jeremy Bentham; the theory of Marginalism by von Thünen, Cournot, and Gossen; the legacy of Karl Marx; the innovations in developmental economics by Friedrich List; the economic and monetary contributions and “struggle of escape” by John Maynard Keynes; the formidable theory in public finance and economics by Joseph Schumpeter; a reinterpretation of Alfred Marshall; Léon Walras, Heinrich von Stackelberg, Knut Wicksell, Werner Sombart, and Friedrich August von Hayek are each dealt with in their own right.

Capitalist Political Economy

Author : Heather Whiteside
Publisher : Routledge
ISBN 13 : 0429888031
Total Pages : 285 pages
Book Rating : 4.4/5 (298 download)

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Book Synopsis Capitalist Political Economy by : Heather Whiteside

Download or read book Capitalist Political Economy written by Heather Whiteside and published by Routledge. This book was released on 2020-03-17 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Rik Davidson/Studies in Political Economy 2022 Book Prize A key text, Capitalist Political Economy: Thinkers and Theories analyses the field-forming theoretical contributions to political economy that have defined, debated, critiqued, and defended capitalism for more than three centuries. Political economy recognizes and celebrates the many and varied interconnections between politics and economics in society, together with the economic implications of public policy and the political impact of market and property relations. As such, political economy is both an approach to understanding capitalism and a reflection of the forms and features of capitalism at particular moments. Grounded in primary and secondary literature including theorists’ original writings and leading literary biographies, this text explores principal themes in the development of capitalism and political economic thought. It relates these to markets, property, profits, labour, investment, innovation, the state, growth and crises, gender, the ecological limits of capital accumulation, and rival economic practices. The book contextualizes the legacy of foundational political economists by exploring their life and times and putting them in conversation with other highly influential theorists. Equally, it also considers more contemporary views. This book serves as an indispensable source for academic communities who are interested in the long arc of capitalist development, theories, and theorists.

Schumpeter's Venture Money

Author : Michael Peneder
Publisher : Oxford University Press
ISBN 13 : 0192526553
Total Pages : 336 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Schumpeter's Venture Money by : Michael Peneder

Download or read book Schumpeter's Venture Money written by Michael Peneder and published by Oxford University Press. This book was released on 2021-02-04 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distinctively tying history with theory, political economist Joseph A. Schumpeter reached far back in time to understand what drives economic development and determines its course. Historical and empirical research provided a laboratory for learning. At the same time, he reached for a long-term vision through theoretical inspection and utmost abstraction, seeking to distil a phenomenon's essential nature and function. He believed that good theory can indicate where the economy is headed in the future. Schumpeter's attention to history and theory also informed the plan for this book. Part I trails the historical stream of financial innovations and the scholarly struggle to assimilate them in monetary thought, while Part II focuses on Schumpeter's own monetary theory. Its deliberate reconstruction from scattered sources reveals a strikingly original and still modern conception. Drawing from the detailed study of documents at various archives in Austria, Part III then concentrates on the business history of Schumpeter's failed personal endeavours in banking and as a proto-venture capitalist. Finally, Part IV casts light on the legacy of Schumpeter's monetary ideas on contemporary thought. It depicts how monetary theory initially left them behind, yet has more recently set out to return to his ideas on money, financial innovation, and growth. Overall, a surprisingly coherent picture emerges from the study of Schumpeter's neglected monetary theory, his personal history, and his intellectual legacy on the present day.

Joseph A. Schumpeter

Author : Richard Swedberg
Publisher : John Wiley & Sons
ISBN 13 : 0745668704
Total Pages : 444 pages
Book Rating : 4.7/5 (456 download)

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Book Synopsis Joseph A. Schumpeter by : Richard Swedberg

Download or read book Joseph A. Schumpeter written by Richard Swedberg and published by John Wiley & Sons. This book was released on 2013-05-02 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph A. Schumpeter (1883-1950) is one of the most celebrated authors on the economics and sociology of the twentieth century. Richard Swedberg's new biography provides an engaging and vivid account of Schumpeter's varied life, including his ventures into politics and private banking as well as his academic career. As a backdrop to these, Swedberg also discusses Schumpeter's tragic personal life. This book provides a thorough overview of Schumpeter's writings, and also introduces previously unpublished material based on his letters and interviews. Swedberg emphasizes that Schumpeter saw economics as a form of social investigation, consisting of four fields: economic theory, economic sociology, economic history and statistics. The author describes and analyses Schumpeter's theory of social classes and modern states as well as his more famous theory of the entrepreneur.

Innovation: A Very Short Introduction

Author : Mark Dodgson
Publisher : Oxford University Press
ISBN 13 : 0199568901
Total Pages : 163 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis Innovation: A Very Short Introduction by : Mark Dodgson

Download or read book Innovation: A Very Short Introduction written by Mark Dodgson and published by Oxford University Press. This book was released on 2010-03-25 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates how innovation is used to create wealth, productivity growth, and improved quality of life

Capitalism in America

Author : Alan Greenspan
Publisher : Penguin
ISBN 13 : 0735222452
Total Pages : 530 pages
Book Rating : 4.7/5 (352 download)

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Book Synopsis Capitalism in America by : Alan Greenspan

Download or read book Capitalism in America written by Alan Greenspan and published by Penguin. This book was released on 2018-10-16 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the legendary former Fed Chairman and the acclaimed Economist writer and historian, the full, epic story of America's evolution from a small patchwork of threadbare colonies to the most powerful engine of wealth and innovation the world has ever seen. Shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year Award From even the start of his fabled career, Alan Greenspan was duly famous for his deep understanding of even the most arcane corners of the American economy, and his restless curiosity to know even more. To the extent possible, he has made a science of understanding how the US economy works almost as a living organism--how it grows and changes, surges and stalls. He has made a particular study of the question of productivity growth, at the heart of which is the riddle of innovation. 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, Greenspan distills a lifetime of grappling with these questions into a thrilling and profound master reckoning with the decisive drivers of the US economy over the course of its history. In partnership with the celebrated Economist journalist and historian Adrian Wooldridge, he unfolds a tale involving vast landscapes, titanic figures, triumphant breakthroughs, enlightenment ideals as well as terrible moral failings. Every crucial debate is here--from the role of slavery in the antebellum Southern economy to the real impact of FDR's New Deal to America's violent mood swings in its openness to global trade and its impact. But to read Capitalism in America is above all to be stirred deeply by the extraordinary productive energies unleashed by millions of ordinary Americans that have driven this country to unprecedented heights of power and prosperity. At heart, the authors argue, America's genius has been its unique 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. Often messy and painful, creative destruction has also lifted almost all Americans to standards of living unimaginable to even the wealthiest citizens of the world a few generations past. A sense of justice and human decency demands that those who bear the brunt of the pain of change be protected, but America has always accepted more pain for more gain, and its vaunted rise cannot otherwise be understood, or its challenges faced, without recognizing this legacy. For now, in our time, productivity growth has stalled again, stirring up the populist furies. There's no better moment to apply the lessons of history to the most pressing question we face, that of whether the United States will preserve its preeminence, or see its leadership pass to other, inevitably less democratic powers.