Labyrinths of Prosperity: Economic Follies, Democratic Remedies

by Reuven Brenner

Overview

Argues that macroeconomic management of the economy leads nations into decline

Product Details

ISBN-13:	9780472065561
Publisher:	University of Michigan Press
Publication date:	09/26/1994
Pages:	312
Product dimensions:	6.00(w) x 9.00(h) x 0.80(d)

What People are Saying About This

Edgar R. Fiedler

The gem of the book, and a wonderful lesson for economies at every stage of development, is the extended discussion of the Dutch economic miracle of the 17th century ... In a broad sense, Brenner is right-on in his conclusion. -- (Edgar R. Fiedler, Across the Board, New York Conference Board, March 1998)

Editorial Reviews

Labyrinths of Prosperity has several attractive features. Brenner shows how economists can draw on sociology, history and political science to supplement their analyses of the conditions of prosperity. The main text, written in plain but lively English, takes up about two-thirds of the book; the technical analysis and supporting data are relegated to appendices and notes. Let Brenner have the last word, in a passage that usefully summarizes and connects several of his main ideas: In spite of worrying about deficits, some economists are still trapped in Keynesian semantics and talk about the stimulus of deficits, of spending of public works (now called infrastructure) ... The issue is responsible governance ... rather than reliance on one or another economic theory, or one way or another of counting numbers. The theories are just frequently repeated opinions without foundations, and frequently the numbers bear no relationship to facts. The roads may lead nowhere, and the schools may produce illiterates with diplomas. -- (Michael James, Agenda, 1995)

Michael James

Every once in a while an economist comes along who threatens to overturn conventional wisdom by pointing out that the basic tools of the trade - such as the official statistics used to fine-tune policy recommendations - are blunt and ineffectual instruments. Reuven Brenner is such an iconoclast among economists. -- (Judy Shelton, The Wall Street Journal, October 6, 1994)

Judy Shelton

This book is so full of common sense that the academy will surely ignore it. In it, Brenner attacks many common orthodoxies about how societies should cultivate a prosperous society. These attacks focus on macroeconomic theory and practice, the design of democratic institutions, and central planning. The central thrust of the book is that all extant theories focusing on economic performance ignore basic fundamental tents of economic activity: people must take risks and innovate if an economy is to prosper. -- (John Williams, Comparative Politics, September 1995)

John Williams

The ongoing debate among political economists in the industrialized West over the impact of fiscal and monetary policy on economic growth has been joined by eastern Europeans who are struggling to set the future direction of their nations' economies. This controversy provides the setting for ...Reuven Brenner's new work,Labyrinths of Prosperity. Brenner's book is an insightful critique of macroeconomic analysis, adding fresh texture and flavor to the field of political economy ...What is the likely impact of Brenner's book? A nation wedded to economic statistics, such as the United States, will not likely give up reliance on macroeconomic data very quickly. Perhaps, at minimum, Brenner's work will promote greater public skepticism in their view of economic data. And his work is0 certainly another contribution to the literature arguing for a larger role of citizenry in the making of public policy. Shedding myths and the pretentious language of macroeconomics provides for a greater involvement in the great decisions of political economy. This is something needed in the industrialized West and the nations of eastern Europe as they try to create market economies. -- (John E. Berthoud, The Public Interest, Number 120, Summer 1995)

John E. Berthoud