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Michael Lind on Land of Promise

Tuesday, April 17, 2012

Michael Lind describes how a weak collection of former British colonies became an industrial, financial, and military colossus. His book Land of Promise demonstrates how Americans, since the earliest days of the republic, have reinvented the American economy—and have the power to do so again.

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Michael Lind
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Comments [3]

Per Kurowski from Rockville, MD

I confess not having read the book yet, but I looked at the index, and nowhere there did I find anything about risks and risk-taking; and leaving those concepts out of a book on the story of America´s rise to become the world´s dominant economy, seems to guarantee somewhat of an incomplete picture…. Yet it can be a great book.

At this moment the Western World, the US included, of is being taken down, seeing its capacity and willingness to take risks, slowly but surely assassinated by the dumb risk aversion of its wimpy financial regulators.

Regulators, allowing very low capital requirements when banks lends or invests in what is officially perceived as safe, guaranteed to dangerously overpopulate the havens perceived ex-ante as absolutely safe, like triple-As, Greece, banks in Iceland; and to explore insufficiently the somewhat more dangerous but so much more rewarding bays of the small businesses and entrepreneurs.

USA… the “home of the brave”? Well that was before the current crop of bank regulators took over.

Apr. 24 2012 09:41 AM
MC from Manhattan

The Federal Government has transformed the economy in so many ways. Take just one example... the synthesis of rubber. The hundreds of billions of dollars in economic activity that has arisen from the results of the federal incentive to create this product transformed civilization. Anyone that says that government does not create jobs or industries or economic growth is an idiot in the literal sense. FDR's second bill of rights if implemented would produce an advanced and prosperous economy surpassing the prosperity produced after ww2 even in a more competitive world.

Apr. 17 2012 01:57 PM
Laura from UWS

QUESTIONS:
Do Americans reinvent the economy based on theory or practice? (Adam Smith, etc.)

Where do Americans who reinvent the economy get their ideas?

Who has the most influence?

Apr. 17 2012 12:52 PM

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