Renewing the Entrepreneurial Strength
of the American Economy
Robert E. Litan and Carl Schramm
With the presidential election drawing nearer, the biggest concern weighing heavily on the minds of most thinking Americans is the economy. We've heard the candidates' arguments and debates on the subject, but is there a solution?
Better Capitalism: Renewing the Entrepreneurial Strength of the American Economy by Robert E. Litan and Carl Schramm is about the financial crisis and the recession that followed and how it underscored for us that a sustained recovery and higher long-run growth will require a heavier dose of entrepreneurship than we had previously recommended. This book lays out some concrete ways to do that.
In the wake of the Great Recession and America's listless recovery from it, economists, policymakers, and media pundits have argued at length about what has gone wrong with the American capitalist system. Even so, few constructive remedies have emerged. Better Capitalism cuts through the chatter and offers a detailed, non-ideological, and practical blueprint to restore the vigor of the American economy.
Better Capitalism extends and significantly expands on the insights of the authors' widely praised previous book, Good Capitalism, Bad Capitalism, co-written with William Baumol. In Better Capitalism, Robert E. Litan and Carl Schramm focus on the huge - but often unrecognized - importance of entrepreneurship to overall economic growth. They explain how changes in seemingly unrelated policy arenas - immigration, education, finance, and federal support of university research - can accelerate America's recovery from recession and spur the nation's rate of growth in output while raising living standards.
The authors also outline an innovative energy strategy and discuss the potential benefits of government belt-tightening steps. Sounding an optimistic note when gloomy predictions are the norm, Litan and Schramm show that, with wise and informed policymaking, the American entrepreneurial engine can rally and the true potential of the U.S. economy can be unlocked.
Read more about Better Capitalism in The Economist.
About the Author: Best-selling Author, Economist and Entrepreneur, Carl Schramm blogs for the George W. Bush Institute. His column, Messy Capitalism, appears in Forbes. His writing has appeared in the Wall Street Journal, Foreign Affairs, City Journal and the Harvard Business Review. He has appeared many times on television as a guest of Charlie Rose (PBS), Brian Sullivan (CNBC), David Asman and Liz Claman (Fox), Joe Kernan (CNBC), and Gerri Willis (Fox Business). [more...]