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A Capitalism for the People: Recapturing the Lost Genius of American Prosperity Paperback – February 11, 2014
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Luigi Zingales lays out the glaring defects that have come to corrode our current economic system in a very easy to understand picture.... Recommended reading for those interested in the evolving nature of our interconnected system of government and the economy.”
[F]ascinating.... Zingales provides an enormous service by laying out such persuasive evidence.”
National Review Online
[A Capitalism for the People] is the book that hits closest to the mark on the question of where the American center-right ought to go in the next few years.”
Zingales offers more than rehashed Friedman or Hayek. It’s a book that should appeal to tea partyers and the Occupy Wall Street crowd.”
Zingales…presents a striking dichotomy.... Engaging.”
Zingales’s fundamental diagnosis is right.... [T]his remains a stimulating essay on the nature of American capitalism and the issues that will determine the pace of America’s relative decline.”
Marginal Revolution, Tyler Cowen
I know you have book fatigue, popular economics book fatigue, policy book fatigue, and books-with-subtitles-like-this fatigue, all at once. But this book is really, really good. It hits all the right notes, is clearly written, and refers to academics as the new crony capitalists. I agreed with almost all of it. If I had to pick out one book, of this entire lot of books, to explain what is going on right now to a popular audience of non-economists, this might well be it.”
J. Bradford DeLong, University of California, Berkeley
More than 30 years ago, Milton and Rose Director Friedman raised high the banner of small-government free-market libertarianism with their Free to Choose. Now, a generation later, income inequality is substantially higher, the globe is even more interconnected, and our partial financial deregulation has backfired badly. Luigi Zingales thus has a harder task as he tries to update the small-government free-market libertarian position for the 21st century. But he has done a very good job at it.”
Robert J. Shiller, author of Finance and the Good Society
This remarkably creative book, driven by a strong moral conviction, offers a bold array of ideas for us to ponder, so we can really make the American capitalist model work better for everyone.”
Edmund S. Phelps, Director, Center on Capitalism and Society, Columbia University
In A Capitalism for the People, Luigi Zingales joins the small but influential group of economists who see that America’s economy is now more and more corporatist, less and less capitalist. His impressive account of our downhill slide is enriched by his deep knowledge of the harm wrought by the worst excesses of Italian crony capitalism. A must-read.”
Nell Minow, co-author of Corporate Governance and co-owner and board member of GMI Ratings
An especially accessible and holistic assessment of what went wrong in our financial markets and an especially thoughtful and constructive proposal for the future. Highly recommended!”
Paul Ryan, U.S. Congressman, Wisconsin
In A Capitalism for the People, Luigi Zingales exposes the pernicious collusion of big business and big government offering the sharp analytical perspective of a world-renowned economist and the unique personal perspective of an immigrant living the American Dream. This must-read for policymakers and citizens alike serves as a lucid call to action for rediscovering what makes America exceptional.”
N. Gregory Mankiw, Robert M. Beren Professor of Economics, Harvard University, and author of Principles of Economics
A Capitalism for the People is a wise, deep, and timely book. With lively prose, Zingales diagnoses what is right and wrong with the U.S. economy. Whether your political sympathies lie with the Tea Party, Occupy Wall Street, or someplace in between, you will learn much about how we can best promote an economic future that works for all of us.”
[A]n elegy to the America (Zingles) found when he moved here 24 years ago.”
[An] accessible and powerfully argued book.”
John R. Talbott, Huffington Post
[O]utstanding.... I give the book my ultimate compliment; it is so full of new and innovative ideas that it makes you pause and think on every page.” National Review[W]e are fortunate to have an Italian-born economist so powerfully and persuasively defending America’s once exceptional free-enterprise system.” Co.Exist, a blog of Fast Company Zingales is readable, engaging, and full of insight. A Capitalism For The People is worth the time of anyone, left or right, who cares about the future of the American market system.”
Adam Ozimek, Modeled Behavior, a blog on Forbes.com
[A Capitalism for the People is] unquestionably insightful and thought-provoking, and it has plenty of smart policy recommendations .I do strongly recommend A Capitalism for the People to anyone looking for a robust and pragmatic vision of free market economics directed at current problems.”
Zingales is excellent.”
Iain Martin, The Telegraph
[A] brilliant and important new book.”
Mechanics Institute Library
[Zingales] provides a forceful look at how pro-business forces overwhelmed the pro-market principles that made American capitalism great, and how we can get it back on track. This book should have a wide readership, from the Occupy Wall Street crowd to Tea Partyers.”
About the Author
Top Customer Reviews
Many blame "capitalism" for the financial crisis. Zingales argues and demonstrates that there is an enormous difference between "capitalism" and "the capitalists", and between "pro-market" and "pro-business" choices and policies. It is the capitalists and pro-business policies that are to blame, not capitalism. Pro-business choices have favored the incumbents (rich people). As a result, outsiders (ordinary people) have seen their opportunities reduced, their shot at the American dream denied. The book argues that we need to put a stop to the cozy relationship between politicians, Wall Street and big business. Zingales demonstrates (with logic and plenty of examples) that we need pro-market policies that foster competition and meritocracy, and which ultimately benefit ordinary people.
This is a great book. I strongly recommend it to anyone who cares about the future of America, from supporters of (true) capitalism to Occupy Wall Streeters.
Suppose you also learned that Robert Rubin, then the Secretary of Treasury under President Bill Clinton, was lobbying for changes to the Act that would remove the restrictions on banks. (Such a bill passed in 1999 with a bipartisan majority of 343-86.)
You still might not find that too outrageous. There were, after all, reasonable arguments against the Glass-Steagall restrictions and even today there is controversy over their advantages and disadvantages.
But finally you learn that Rubin left his post at the Treasury Department exactly one day after the bill passed (he had actually resigned 6 weeks before) and just 108 days later he was hired by Citigroup (yes, the firm he had helped through his lobbying efforts to change Glass-Steagall) for a salary of $15 million a year and, as author Luigi Zingales points out, "without any operating responsibilities."
It was not, as Zingales points out, illegal. But was it right?
Consider it Exhibit A in the case Zingales makes against "crony capitalism," the unholy alliance of business and government.Read more ›
Most Recent Customer Reviews
Although I agree with most of what the author said, I found the book lacking any new ideas or inspiring goals. Read morePublished 7 months ago by Robert Kirk
This is an excellent book. Zingales is able to severely criticize the current economic failures and propose interesting solutions based on what he calls the real genius of... Read morePublished 8 months ago by Macario Schettino
There was much I liked about this book: shedding light on crony capitalism and the value of social norms. Some of the solutions seem good theory but implausible. Read morePublished 9 months ago by Brian Gagnon
Now that capitalism is under attack because of letting millions down, while under the functioning ot this system the gap between the haves and the have-nots become astronomical. Read morePublished 12 months ago by Mohammad
First rate analysis of America's economic troubles, issues and future. And, from a 'conservative' economist! Terrific!Published 15 months ago by Mr. Lawrence Robins
Mankind goes from one revolution to next. Sometimes with no motif or the wrong one. Luigi give us many ideas to instate after next revolution, hope it will not take long to come. Read morePublished 17 months ago by Joseph Adam Antich
This book is one of the top books which I have read about this issue. Dynamic, exciting, smart and simple, like capitalism is. Read morePublished 17 months ago by Antonio da Luz
Zingales makes a strong case for transparency as a way to prevent rent seeking/crony capitalism. This is both a thoughtful exposition of his case but also a chance to be provoked... Read morePublished 19 months ago by Jonathan Brown