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Better Capitalism

Wednesday October 2012


Robert E. Litan Director of Research, Bloomberg Government
Carl J. Schramm University Professor, Syracuse University; Visiting Scientist, Massachusetts Institute of Technology

In the wake of the Great Recession and America’s listless recovery from it, economists, policymakers, and media pundits have argued at length about what has gone wrong with the American capitalist system. Yet few constructive remedies have emerged. In their new book, Better Capitalism, Robert E. Litan and Carl J. Schramm offer welcome insights on how to accelerate economic growth. Focusing on the huge—but often unrecognized—importance of entrepreneurship to overall economic growth, Litan and Schramm explain how changes in seemingly unrelated policy arenas—immigration, education, finance, and federal support of university research—can accelerate America’s recovery from recession and spur the nation’s rate of growth in output while raising living standards. With wise and informed policymaking, the American entrepreneurial engine can rally and the true potential of the U.S. economy can be unlocked.