The Next American Economy: Nation, State, and Markets in an Uncertain World

(Hardback)

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Americans across the political spectrum have turned away from free market capitalism, calling for more government intervention into the economy. This optimistic book explains how a dynamic, Commercial Republic that benefits all Americans is still possible.

"Will someone intent on changing the direction of Americas economy seize on this text and send it far and wide
Hugh Hewitt, author, attorney, and national host of The Hugh Hewitt Show

Markets grounded in a commercial republic are what America needs. Gregg shows why.
Vernon L. Smith, 2002 Nobel Laureate in Economics, Professor of Business Economics and Law at Chapman University

One of Americas greatest success stories is its economy. For over a century, it has been the envy of the world. The opportunity it generates has inspired millions of people to want to become American.

Today, however, Americas economy is at a crossroads. Many have lost confidence in the countrys commitment to economic liberty. Across the political spectrum, many want the government to play an even greater role in the economy via protectionism, industrial policy, stakeholder capitalism, or even quasi-socialist policies. Numerous American political and business leaders are embracing these ideas, and traditional defenders of markets have struggled to respond to these challenges in fresh ways. Then there is a resurgent China bent on eclipsing the United Statess place in the world. At stake is not only the future of the worlds biggest economy, but the economic liberty that remains central to Americas identity as a nation.

But managed decline and creeping statism do not have to be Americas only choices, let alone its destiny. For this book insists that there is an alternative. And that is a vibrant market economy grounded on entrepreneurship, competition, and trade openness, but embedded in what Americas founding generation envisaged as the United Statess future: a dynamic Commercial Republic that takes freedom, commerce, and the common good of all Americans seriously, and allows America as a sovereign-nation to pursue and defend its interests in a dangerous world without compromising its belief in the power of economic freedom.

Reviews

Read this powerful argumentfrom Samuel Gregg as to why faith in the American Experiment in liberty under law requires us to reject economic nationalist trends toward protectionism, the use of industrialpolicy, and other interventions in the pursuit of transient and populist agendas. Markets grounded in a commercial republic are what America needs. Gregg shows why.
Vernon L. Smith, 2002 Nobel Laureate in Economics,Professor of Business Economics and Law at Chapman University

Were long overdue for a morally compelling defense of the market economyone that avoids the errors of utilitarian dogma and the absolutizing of individual autonomy. In the great and neglected tradition of Adam Smith, Samuel Gregg has given us a philosophical treatment of economic questions that places moral and political concerns front and center while bringing to bear empirical knowledge and sophisticated technical expertise.
Robert P. George, McCormick Professor of Jurisprudence and Director of the James Madison Program in American Ideals and Institutions at Princeton University

InThe Next American Economy, Samuel Gregg creatively distinguishes between the forces of state capitalism and the free market economy. For the latter to succeed and benefit all people, he shows us, with fascinating historical examples, that America must do much more than follow sound economics. It must embraceallthe ideas that made America strong.
John B. Taylor,Mary and Robert Raymond Professor of Economics at Stanford University, George P. Shultz Senior Fellow in Economics at the Hoover Institution

Could we get Samuel Greggs book into the hands of every high school senior and graduating college student, please Will someone intent on changing the direction of Americas economy seize on this text and send it far and wide Gregg has written a book for broad audiences that should be read from East to West, North to Southby the young, but also by those older among us who have forgotten the purpose of the American story in a dangerous world. Exhortations alone cannot carry forward renewed faith in the American way of capitalism. It must be explained. This is what Gregg has done and in a winsome, winning fashion.Read and pass it on. Purchase it again and again.
Hugh Hewitt, author, attorney, and national host of The Hugh Hewitt Show

For years, movements that reject free trade and advocate for industrial policy have gained traction on the right. They have yet to receive a cogent response from conservatives who recognize the U.S. economys problemsespecially those associated with a belligerent Chinabut who also reject economic nationalism as a solution. Samuel Gregg has produced the response that we need.The Next American Economyis a perfect storm. It acknowledges todays challenges, rebuts economic nationalist policies, and makes a fresh case for a market economy grounded in sound economics and the wisdom of Americas first principles.We will be talking about this books for years. For my money, it represents the defining book in addressing this vital topic.
David L. Bahnsen, Managing Partner and Chief Investment Officer of The Bahnsen Group, host ofNational Reviews Capital Record podcast, and regular guest on Fox Business, CNBC, and Bloomberg

Author Bio

Samuel Gregg is Distinguished Fellow in Political Economy and Senior Research Faculty at the American Institute for Economic Research, and a research fellow at the Acton Institute. The author of sixteen books and more than four hundred articles, he has written for publications such as theWall Street Journal,Investors Business Daily,theSpectator,Foreign Affairs,National Review,American Banker, andHarvard Journal of Law and Public Policy. He has also appeared on American and foreign broadcast media including the BBC and Fox Business Channel.