American Gridlock

H. Woody Brock 지음

Wiley 2011년 12월 14일 출간

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A sensible solution to getting our economy back on trackPessimism is ubiquitous throughout the Western World as the pressing issues of massive debt, high unemployment, and anemic economic growth divide the populace into warring political camps. Right-and Left-wing ideologues talk past each other, with neither side admitting the other has any good ideas. In American Gridlock, leading economist and political theorist H. Woody Brock bridges the Left/Right divide, illuminating a clear path out of our economic quagmire.Arguing from first principles and with rigorous logic, Brock demonstrates that the choice before us is not between free market capitalism and a government-driven economy. Rather, the solution to our problems will require enactment of constructive policies that allow quot;truequot; capitalism to flourish even as they incorporate social policies that help those who truly need it.Brock demonstrates how deductive logic (as opposed to ideologically driven data analysis) can transform the way we think about these problems and lead us to new and different solutions that cross the ideological divide. Drawing on new theories such as game theory and the economics of uncertainty that are based upon deductive logic, Brock reveals fresh ideas for tackling issues central to the 2012 U.S, Presidential election and to the nation-s long-run future:Demonstrating that the concept of a government "deficit" is highly problematic since it blinds us to the distinction between a good deficit and a bad deficit ~ where a deficit is good if it results from borrowing dedicated to productive investment rather than to unproductive spending.Deriving the need for a U.S. Marshall Plan dedicated to very high levels of profitable infrastructure spending as the solution to today-s Lost Decade of high unemploymentDrawing upon a logical extension of the Law of Supply and Demand to demonstrate how the

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Preface xiiiChapter 1 Dialogue of the Deaf 1What to Do About ItWhat Went Wrong: Origins of the Dialogue of the DeafThe Role of Deductive versus Inductive Logic in Policy AnalysisThe Illogic of Policy Analysis TodayWhat Must Be Done to Raise the Level of DebateChapter 2 Must There Be a Lost Decade? 23A Socratic Dialogue with the President Explains Why NotReasons for Lackluster Growth During the Remainder of this Decade"Good" versus "Bad" Deficits, and the Main Policy ProposalThe Identifi cation and Ranking of Public Investment Projects by Their ReturnWhen Huge Defi cits Are Justifi ed: A Unifi cation of the Arrow-Kurz and Keynesian TheoriesChapter 3 Resolving the Entitlements Spending Crisis 75How to Drive Health-Care Spending Down while Increasing AccessA Supply-Side Solution to the Health-Care CrisisThree Basic Assumptions for an Optimal Health-Care SystemExpert Systems and AutomationRedressing the Social Security DeficitChapter 4 Preventing Perfect Financial Storms 119When Everyone Was Too Clever by HalfThe Four Origins of Today's Financial CrisisThe Role of Bad Economic TheoryEmergence of a Pathological Incentive StructureRequisite Policy ReformsChapter 5 Bargaining Theory 101 157How Not to Deal with ChinaThe Origins of Economics ImperialismThe Possibility of the Hegemony of Political Science: The Nash-Harsanyi Pluralistic Bargaining ModelHow Not to Negotiate with Thugocracies&-The Case Study of ChinaThe Remarkable Power of the Bargaining Model in Political Science and BeyondChapter 6 Beyond Democratic Capitalism 199An Idealized Political Economy, with Distributive JusticeTrue Textbook Capitalism, and the Correct Role of GovernmentBeyond Effi ciency: The Eight Ideals of an Optimal Social SystemDistributional EquityA Comprehensive Theory of Distributive JusticeConclusion 231Appendix A Supply/Demand Summ

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"With rigorous logic, American Gridlock identifies five major problems confronting the nation. These range from salvaging today's "lost decade," to the unequal distribution of wealth, to preventing bankruptcy from "entitlements spending," and to preventing future financial market crises. Woody Brock does not simply offer his opinions about these crises. Rather, he deduces win-win solutions to each of these from First Principles. It is high time for such a book, especially during a presidential election year."&m-Dr. Nouriel Roubini, Chairman and Co-Founder, Roubini Global Economics"Woody Brock is a brilliant economic thinker and we should heed his call for an Infrastructure Marshall Plan to lift our national economy. This book should be required reading for everyone who cares about America's future, particularly our elected officials."&m-Ambassador Felix G. Rohatyn , Lazard Frères Co. LLC"Woody Brock's new book, American Gridlock is going to force everybody to think through their views on the critical issues of public policy facing America today. It is not just a question of a failure of leadership. It is also a question, as he puts it, of a failure of thought and analysis. He focuses on this in order to overcome what he terms "the Dialogue of the Deaf;" the shouting match between the Left and the Right and its inevitable manifestation as gridlock. Agree or not, this is the kind of book to which everybody should pay attention."&m-Mortimer Zuckerman, Editor-in-Chief of U.S. News World Report"Woody Brock is one of America's best kept secrets. My firm has had the good fortune of benefiting from his in depth analysis of future political and economic trends for years.American Gridlock allows the reader to do the same."&m-Stan Druckenmiller, Chairman and CEO; Duquesne Family Office"Woody Brock is one of the mo

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저자(글) H. Woody Brock

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H. Woody Brock is President and founder of Strategic Economic Decisions (SED), Inc., a firm that provides economic and financial market analysis to financial institutions, corporations, and investors. He has authored numerous Op-Ed pieces in the New York Times, the International Herald Tribune, and a variety of professional journals, and speaks regularly at investment conferences and forums. He is known worldwide as a speaker and writer adept at taking complex ideas and theories and expressing them logically and clearly. Brock was elected an Andrew Mellon Foundation Bicentennial Fellow of the Aspen Institute. He earned his BA, MBA, and MS (in mathematics) from Harvard University, and his MA and PhD from Princeton University.