"In our lifetimes, humans passed a remarkable milestone. Most people now live in a capitalist economy. This is not, however, the end of history. As the authors of this path breaking book show, there are several distinctly different types of capitalism and it takes a mixture of two of these types to get all the economic, social, and political benefits that capitalism affords."—Paul M. Romer, STANCO 25 Professor of Economics in the Graduate School of Business at Stanford University
(Paul M. Romer)
“Good Capitalism, Bad Capitalism tells us that capitalism comes in different flavors, and some of those flavors taste very much better than others. One of these forms of capitalism, entrepreneurial capitalism, is a special treat. It leads to growth and prosperity. The other forms are to be avoided; they lead to stagnation. This new view of the wealth of nations offers a guide to economic policy in all countries, from richest to poorest. This is a daring book with big, bold, important ideas.”—George Akerlof, University of California, Berkeley, Nobel Laureate in Economics, 2001
"Good Capitalism, Bad Capitalism helpfully moves the debate on from competing national models to the underlying structures that shape the relative effectiveness of different sorts of capitalism."—The Economist
About the Author
William J. Baumol is Harold Price Professor of Entrepreneurship and academic director of the Berkley Center for Entrepreneurial Studies in the Stern School of Business, New York University, and senior economist and professor emeritus at Princeton University. Robert E. Litan is vice president for research and policy at the Kauffman Foundation and senior fellow at the Brookings Institution. Carl J. Schramm is president and chief executive officer of the Kauffman Foundation and a Batten Fellow at the Darden School of Business, University of Virginia.