eBook Categories Economics Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity
Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity |
| Ebook - Economics | |||||||
| Monday, 10 November 2008 | |||||||
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In this important book, William J. Baumol, Robert E. Litan, and Carl J. Schramm contend that the answers to these questions lie within capitalist economies, though many observers make the mistake of believing that “capitalism” is of a single kind. Writing in an accessible style, the authors dispel that myth, documenting four different varieties of capitalism, some “Good” and some “Bad” for growth. The authors identify the conditions that characterize Good Capitalism—the right blend of entrepreneurial and established firms, which can vary among countries—as well as the features of Bad Capitalism. They examine how countries catching up to the United States can move faster toward the economic frontier, while laying out the need for the United States itself to stick to and reinforce the recipe for growth that has enabled it to be the leading economic force in the world. This pathbreaking book is a must read for anyone who cares about global growth and how to ensure America’s economic future. Visit Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity Download Page You can download full publication in PDF format. Hardcover: 336 pages CONTENTS Visit Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity Website PREFACE Many books take off from one core idea. This book is built on two. The first notion is that capitalism is not a monolithic form of economic organization but rather that it takes many forms, which differ substantially in terms of their implications for economic growth and elimination of poverty. The implicit assumption underlying the idea of a homogenous capitalism, the notion that all capitalist economies are fundamentally the same, reflects something of the mentality common during the cold war when two superpowers, representing two great ideologies, were struggling for the hearts and minds of peoples of the world. On the one side were countries like the United States, whose economies rested on the foundation of the private ownership of property, and on the other were communist or socialist societies, whose economies essentially did not. This distinction seemed to divide the two economic systems, and not much thought was given to the possibility that there is much more to capitalism. The fall of the Berlin Wall in 1989 seemed to demonstrate that capitalism (and a democratic form of government) had won and communism had lost. A number of American scholars celebrated this fact, one even suggesting that we had reached the “end of history.” The terrorist attacks of September 11, 2001, shattered that illusion, at least as to forms of government. But even before that tragic day, a number of economic developments began calling into question the notion that there was only one form of capitalism in operation. ... ABOUT THE AUTHORS William J. Baumol, Ph.D. William BaumolWilliam 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. He also serves as senior advisor to the president and chief executive officer of the Kauffman Foundation. Baumol has been president of four professional economics societies: the American Economic Association, the Association of Environmental and Resource Economists, the Eastern Economic Association, and the Atlantic Economic Society. He is also an elected member of the U.S. National Academy of Sciences and the American Philosophical Society. He was awarded the Accademia Nazionale dei Lincei’s 2005 International Antonio Feltrinelli Prize – Italy’s highest scientific and cultural award. The recipient of eleven honorary degrees and the author of more than forty books and hundreds of professional articles, Baumol’s fields of specialization include economic growth, entrepreneurship and innovation, industrial organization, antitrust economics and regulation, and economics of the arts. He earned his bachelor’s degree from the College of the City of New York and his Ph.D. from the University of London. Robert Litan, Ph.D. Robert LitanRobert Litan is vice president of Research and Policy at the Kauffman Foundation. Litan has been affiliated with The Brookings Institution for nearly 20 years, first as a Senior Fellow and since 1996 as director of Economic Studies and holder of Cabot Family Chair in Economics. At Brookings, he led a team of economists monitoring the global economy and seeking answers to economic policy issues in the U.S. and around the world. The group’s rigorous, independent research was designed to increase the public's understanding of how the economy works and how to make it better. During his time with Brookings, Litan authored or co-authored more than 25 books and 200 articles for professional journals and magazines. He co-founded and serves as the Director of the AEI-Brookings Joint Center on Regulatory Studies. Litan has had a distinguished career in public service. He served on the staff of the Council of Economic Advisers (1977-79), as Deputy Assistant Attorney General in the Antitrust Division of the Justice Department (1993-95), and Associate Director of the Office and Management and Budget (1995-96). He also has been a consultant to the Treasury Department on financial policy issues. Litan received his B.S. degree in Economics, graduating summa cum laude, from the Wharton School Department of Finance at the University of Pennsylvania; his J.D. from Yale Law School; and both a Master of Philosophy and Ph.D. in Economics from Yale University. Carl J. Schramm, Ph.D. Carl Schramm Hailed as the "evangelist of entrepreneurship" by The Economist, Carl Schramm leads America's largest foundation dedicated to advancing entrepreneurial success. He is recognized as one of the world’s foremost thinkers on the role and importance of entrepreneurship to a nation’s economic stability and growth. In 2007, U.S. Secretary of Commerce Carlos Gutierrez tapped Schramm to chair the Department of Commerce’s Measuring Innovation in the 21st Century Economic Advisory Committee. Schramm’s recent books, Good Capitalism, Bad Capitalism, with Robert Litan and William Baumol, and The Entrepreneurial Imperative, are regarded as emerging classics, providing new insight into the American and international economies. Trained as an economist and lawyer, with experience in business, public policy and academia, Schramm has led the Kauffman Foundation to develop innovative programs aimed at transforming entrepreneurship education, the technology transfer process, the availability of seed capital for entrepreneurs, and economic research. He has been a professor at The Johns Hopkins University, an executive in the health insurance industry, and the cofounder and founder of a number of companies in the health care finance and information technology areas. He is a Batten Fellow at the University of Virginia's Darden School of Business, a member of the Council on Foreign Relations, a fellow of the Royal Society of Arts, and the 2005 recipient of the University of Rochester’s George Eastman Medal. Mr. Schramm’s work has appeared in publications including Foreign Affairs, The Wall Street Journal, USA Today, Newsweek, and Inc. Bookmark
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Comments (3)
sven2323
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Imagine this: a mere century ago, the purchasing power of an average American was one-tenth of what it is today. But what will it take to sustain that growth through the next century? And what can be said about economic growth to aspiring nations seeking higher standards of living for their citizens?|
Carl Schramm’s Recession, Far From Over, Already Setting Records April 27, 2009 by entrepreneurshipeconomist Having made the economy worse over the past seven years by insituting the entrepreneurship-free entrepreneurship that is the central plank of Schrammenomics, Carl Schramm is now attenmpting to institute Austrian-free Austiran Ecnomics, hiring Dane Stangler to replace the noble content of the Austrians with Bo Fishback MBA buzzwords such as “growthology.” The theory is that is Carl Schramm gets enough invites to fancy dinners on first class flights (bought and paid for by Kauffman, like Carl Schramm’s George Eastman Kodak Medal), he can revive the economy as he and Bo Fishback and Dane Stangler hold hands as they fly first class, chanting “grothology,” “growthology,” “growthology” while coming up with new ways to konsolidate power at kauffman so that no matter how bad the economy gets, no matter how many entrepreneurs and true academics they they oppose and afflict, they will yet receive millions for Carl Schramm’s seven years of failed, eocnomy-killing, home-foreclosing, self-serving, MBA-buzzword chanting Schrammenomics. Sure you can buy a lot of medals, firends, and supporters with a $2.5 billion foundation, as long as you are an ambitious political manipulator. When the noble, exalted Kauffman left his estate for entrepreneurs and entreprnuership, he never defined entreprneurship as hijacking a ofundation and using it to fund one’s own content-light, insipid, anti-intelletcual vanity press and purshcase George Eastman Kodak medals while hiring anti-entreprneur MBAs/JDs to replace the exalted spirit of entreprneurship with “growthology” buzzwords. The New York Times reports, http://www.nytimes.com/2009/04...atrick.net Recession, Far From Over, Already Setting Records Dane Stangler and Bo the Harvard MBA Fishback will never link to this, as their #1 job is to make sure that Carl Schramm’s image is exalted even as the economy crashes after seven years of of Schrammenomics. The economy is in Schrambles, as Bo Fishnback and Dane Stangler come up with new buzzwords to shout as they fly over America in first class, celebrating their massive salaries from the once venerable Kauffman Foundation (now dominated by tyrannical, failed schrammenomics) which have also allowed Carl Schramm to buy himself a George Eastman Kodak Medal and fund a vanity press devoted entirely to displacing the intellectual giants and Nobel Laureate economists who could save the eccnomy–Ludwig Von Mises and F.A. Hayke. schrammenomics is all about dumbing down the economy so as to make Schramm look good, as his insipid, dull, anti-intellectual book GOOD CAPITALISM (SCHRAMMENOMICS/BO FISHBACK MBA BUZZWORDS) BAD CAPITALISM (HAYEK & MISES) left out both Mises and Hayek. |
greg2
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Schramm sees entreprnuers as oddball risk-takers, and that is why he will only fund his risk-free bloggers who all wear suits and ties whenever they blog. As if a man does not wear a suit and tie like Schramm, can he be trusted? Small business owners and entrepreneurs sometimes must roll up their sleeves to get the job done, and thus it would be unseemly to have them seen around/blogging for the Kauffman Foundation, which must be kept clean and pure. In addition, what if the entrepreneur fails? Surely this would be a blemish on Schramm’s sterling, pristine reputation. That is why Schramm only hangs out with Nobel Laureates and wealth socialists, winking at them each time he says “entreprnuership.” For they, and not the entrepreneur, can give him the Nobel in economics, and it is thus they who he must serve first and foremost. “I sit on a man’s back, choking him, and making him carry me, and yet assure myself and others that I am very sorry for him and wish to ease his lot by any means possible, except getting off his back.” –Tolstoy Writings on Civil Disobedience and Nonviolence (1886) |
greg
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Carl Schramm’s “Schrammenomics” Creates Record Unemployment By entrepreneurshipeconomist Over the past seven years, Carl Schramm has presided over the least entrepreneurial and most corrupt era of American business. During these seven years he has done far more harm than good by redefining entrepreneurship in a Harvard MBA “growthology” buzzword manner that pleases his Statist friends. During the era of Schrammenomic “entrepreneurship/growthology” the government burgeoned (growthology) as tens of millions lost their pensions, savings, jobs, and homes while entrepreneurs lost their credit lines and the rising generation lost its future earnings, as the Kauffman Foundation’s endowment/hedge fund needed the TARP bailout funds to line Schramm et al.’s innovation-free pockets with millions upon millions, as the $2.5 billion endowment benefited from taxpayer bailouts for the Wall Street rich both directly and indirectly. MBA wealth-transfer, PR, hype, and the commandeering of a foundation to fund statist bloggers to further one’s personal career are the very opposite of both entrepreneurship and classical economics. Instead of investing the Kauffman funds in entrepreneurs and innovators (as Mr. Kauffman intended), Schramm has pocketed millions for his corporate vanity press while leading and furthering double-speaking Statist philosophies, dumbing down and feminizing the university campus and replacing wealth-creating Ph.D.’s with wealth-transferring, buzzword-blogging MBAs/JDs, all the while saying one thing while doing another; as one cannot serve two masters. As Schramm’s campaign for the Nobel prize and fostering innovation and entrepreneuership are opposing endeavors, he had not the time to do both; and as he does not personally innovate nor invent nor create companies with actual names, he figured the former path would be the safer investment for the $2.5 billion endowment he inherited/commandeered. Never has Schramm used his throne to speak out against massive student debt, but instead he has rewarded the administrations who augmented the student debt in an unprecedented manner and bought up more land and property with hundreds of millions of dollars–stolen capital that Kauffman had meant for entrepreneurs, rather than a private citizen’s campaign for the Nobel in economics. When entrepreneurs innovate and create, according to Schramm, they do it for selfish motivations, and that is why Kauffman cannot fund them, but only take credit for their success, while leaving them with their failures as their lines of credit are cut off by Schramm’s satatist/banking friends. But when Schramm takes credit for the wealth created by entrepreneurs and entrepreneurship via his elite Kauffmun-funded PR team and Kauffman-funded vanity-press buzzword bloggers, he does it for the greater good of humanity, and thus he is the one, true pre-ordained beneficiary of Kauffman, as he is more virtuous than you, because he neither innovates nor invents, which is considered to be a crime against the Statists and the State. And over the past seven years, he and his team of elite Statists have crusaded against the true entreprneurial spirit, while seeking to take credit for entrepreneurship’s wondrous wealth creation while funneling millions to the bureuacracies/university administrations that oppose it. Name one–just one–Kauffman venture that has sprung fourth form the millions they have invested in Statist technology transfer and university dog and pony shows. |
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