A CAPITALISM FOR THE PEOPLE
Recapturing the Lost Genius of American Prosperity
By Luigi Zingales
(Basic Books 2012)
In contemporary American political economy, we have two boxes: laissez-faire conservatism and liberal Keynesianism. This book thinks outside both boxes. That is its merit. Its weakness is that it falls between them.
Luigi Zingales is an Italian by birth who came to the United States to study economics and now is the Robert McCormack Professor of Entrepreneurship and Finance at the University of Chicago. His Italian roots are central to his argument: he holds that while Italy is dominated by crony capitalism, the United States has historically been more open to enterprise. However, the U.S. has moved in recent decades increasingly in the direction of crony capitalism. This book is his attempt to show the way back. Continue reading