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When George Gilder first published Wealth & Poverty in 1981, the book was an instant classic, becoming the economics bible of the unfolding Reagan revolution. Not since the Gilded Age of the late 1800’s has anyone advanced so enthusiastic an endorsement of capitalism and capitalists,” observed the New York Times.
Now, amid the Obama administration’s redistributionist zeal, industrial planning schemes, vandalistic energy policies, demonization of wealth-creating entrepreneurs, and Keynesian spending programs, Gilder returns to the fray with an updated edition of his famous tome.
Thirty years after his paean to free enterprise shocked the Washington establishment, have the collapse of Enron, the economic meltdown of 2008, the advent of the Occupy Wall Street movement, and other events caused Gilder to reassess his devotion to capitalism? In a way, they have. As Gilder states in this edition, It is clear that we, the original supply siders, bear some responsibility for the failure to persuade. All these years later, it has become clear that we were not radical enough.”
Dissatisfied with half-hearted defenses of capitalism as the least bad system available, Wealth & Poverty passionately extols the morality, compassion, and efficacy of free enterprise. Buoyed by the collapse of communism but disturbed by the return of socialism under new guises, Gilder argues in a new prologue and epilogue that the solution to America’s current economic troubles cannot be found in warmed-over socialism, but in the generosity and economic vitality that can only be unleashed by the free market.
As President Obama’s policies lend Gilder’s arguments a shocking new relevancy, Gilder reminds us why the New Yorker called him a scourge of feminists, unrepentant supply-sider, and now a technology prophet.” Featuring a new foreword by Steve Forbes, this edition of Wealth & Poverty informs us that free enterprise is the core of freedomand that nations which forget or ignore that historical lesson will not and cannot prosper.
The United States over the last decade has witnessed a classic confrontation between the forces of entrepreneurial capitalism and those of established institutions claiming a higher virtue, expertise, and political standing. One side subsists on unforced profits of enterprise; the other on rents and tolls and privileges at the Treasury, the Federal Reserve, and the White House.
&hellp;The wealth of America is not an inventory of goods; it is an organic living entity, a fragile pulsing fabric of ideas, expectations, loyalties, moral commitments, and visions. To vivisect it for redistribution is to kill it. As President Mitterand’s French technocrats discovered in the 1980s, and President Obama’s quixotic American ecocrats are discovering today, government managers of complex systems of wealth soon find they are administering an industrial corpse, a socialized Solyndra.
Wow. Wow. That is all I can say. This book was devoid of any facts, data, studies. If you enjoy generalizations, assumptions, conjectures, then this is the book for you. Read morePublished 8 months ago by Anna Jung
Gilder is smart and original. A must read for those interested in the economy and innovation.Published 13 months ago by Alan
Read it in the 1980s as one option for required reading in a business class and discarded it soon after opening its pages in favor of another book; I got sick of phrases like "a... Read morePublished 14 months ago by Bookratt
Mr Gilder gives us a no nonsense look at how the world of economics works and how our politics bastardized the system for personal gain. It's a must read!Published 14 months ago by Seth Fuller