Customer Review

23 of 24 people found the following review helpful
5.0 out of 5 stars Innovation and the Future, December 27, 2009
This review is from: From Poverty to Prosperity: Intangible Assets, Hidden Liabilities and the Lasting Triumph over Scarcity (Hardcover)
In the 20th century, whenever markets failed, the temptation was to impose a big-government intervention to address the situation. In "From Poverty to Prosperity", Arnold Kling and Nick Schulz argue for an approach that they describe as "Economics 2.0", an approach in which free markets and even more innovation should be used whenever markets fail.

The authors believe that, in the future, the greatest improvements in living standards will come from ideas and inventions. They emphasize the role of innovation and describe some of the societal conditions that encourage it, such as strong property rights and the rule of law, and also describe other "rent-seeking" activities that stifle innovation, such as lobbying and the propping up of obsolete functions, activities that introduce distortions into the economy.

Trends in modern economics are examined, such as the move away from hard mathematical models toward a more sociological-based approach.

Because advances in the future will be innovation-driven, the question of intellectual property rights and how strongly they should be protected will come to the fore, and Kling and Schulz look at that important debate.

A great part of the book consists of interviews that the authors conduct with leading economists discussing these developments and issues, and there are numerous charts concerning GDP per capita, health, leisure, and life expectancy that show how well-off we are compared to the past. The book is a good study of where economics is going and is an important reminder of the importance of free markets, private property, and innovation.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

Be the first person to comment on this review.

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
 


Review Details

Item

Reviewer


Location: Houston, Texas

Top Reviewer Ranking: 2,860