Synopses & Reviews
In this groundbreaking book, two economists explain why economic imbalances cause civil collapseand#8212; and why the United States could be next. andlt;BRandgt; andlt;BRandgt;From the Ming Dynasty to Ottoman Turkey to imperial Spain, the Great Powers of the world emerged as the greatest economic, political, and military forces of their timeand#8212;only to collapse into rubble and memory. What is at the root of their demiseand#8212;and how can the United States stop this pattern from happening again?andlt;BRandgt; andlt;BRandgt;A quarter century after Paul Kennedyand#8217;s The Rise and Fall of the Great Powers, Glenn Hubbard and Tim Kane present a bold, sweeping account of why powerful nations and civilizations break down under the heavy burden of economic imbalance. Introducing a profound new measure of economic power, Balance traces the triumphs and mistakes of imperial Britain, the paradox of superstate California, the long collapse of Rome, and the limits of the Japanese model of growth. Most importantly, Hubbard and Kane compare the twenty-first-century United States to the empires of old and challenge Americans to address the real problems of our countryand#8217;s dysfunctional fiscal imbalance. If there is not a new economics and politics of balance, they show that there will be an inevitable demise ahead.
Review
"A book with riveting historical perspective for careful thought about where we are and where we can go if we get it right."
Review
"Hubbard and Kane synthesize economics, politics and psychology to develop a new audacious theory of why countries decline. Compulsory reading for anyone who wants to understand the major issues that America now faces and whether decline can be averted, or will instead become inevitable."
Review
and#8220;In seeking to discover what might be common factors throughout history to explain the rise and decline of powerful states, Hubbard and Kane have succeeded in identifying surprisingly similar trajectories. Their thought-provoking analysis has compelling relevance for Americaand#8217;s future.and#8221;
Review
"Political paralysis leading to fiscal collapse is the and#8220;existential threatand#8221; facing America, argues this stimulating, contentious economic history... Theirs is political economy with a grand historical sweepand#8212;and provocative implications for the present."
Review
and#8220;Offers some policy proposals that ought to be taken seriously, even by those who donand#8217;t agree with all their premises. At the very least, some of these ideas could be used as blueprints for the rare politician seeking some acceptable grounds for compromise.and#8221;
Review
and#8220;A readable, data-rich history of the fall of great powers through the eyes of two fiscally troubled US conservatives in 2013.and#8221;
Review
and#8220;The history of economic folly that they skillfully recount in and#8216;Balanceand#8217; is a timely reminder that societies that seem invincible are often anything but.and#8221;
Review
"A book with riveting historical perspective for careful thought about where we are and where we can go if we get it right." The Honorable George P. Shultz, Hoover Institution
Review
"Hubbard and Kane synthesize economics, politics and psychology to develop a new audacious theory of why countries decline. Compulsory reading for anyone who wants to understand the major issues that America now faces and whether decline can be averted, or will instead become inevitable." James Robinson, co-author of Why Nations Fail
Review
“In seeking to discover what might be common factors throughout history to explain the rise and decline of powerful states, Hubbard and Kane have succeeded in identifying surprisingly similar trajectories. Their thought-provoking analysis has compelling relevance for America’s future.” Henry A. Kissinger
Review
"Political paralysis leading to fiscal collapse is the “existential threat” facing America, argues this stimulating, contentious economic history... Theirs is political economy with a grand historical sweep—and provocative implications for the present." < -="" i="" -=""> - Publishers Weekly - < -="" -="">
Review
“Offers some policy proposals that ought to be taken seriously, even by those who don’t agree with all their premises. At the very least, some of these ideas could be used as blueprints for the rare politician seeking some acceptable grounds for compromise.” Time.com
Review
"[A] rapid romp through imperial history.... The authors argue persuasively that the decay [of nations] typically starts long before [an external military] event and usually originates with some internal change. "
Synopsis
In this groundbreaking book, two economists explain why economic imbalances cause civil collapse--and why America could be next.
In this groundbreaking book, two economists explain why economic imbalances cause civil collapse-- and why the United States could be next.
From the Ming Dynasty to Ottoman Turkey to imperial Spain, the Great Powers of the world emerged as the greatest economic, political, and military forces of their time--only to collapse into rubble and memory. What is at the root of their demise--and how can the United States stop this pattern from happening again?
A quarter century after Paul Kennedy's The Rise and Fall of the Great Powers, Glenn Hubbard and Tim Kane present a bold, sweeping account of why powerful nations and civilizations break down under the heavy burden of economic imbalance. Introducing a profound new measure of economic power, Balance traces the triumphs and mistakes of imperial Britain, the paradox of superstate California, the long collapse of Rome, and the limits of the Japanese model of growth. Most importantly, Hubbard and Kane compare the twenty-first-century United States to the empires of old and challenge Americans to address the real problems of our country's dysfunctional fiscal imbalance. If there is not a new economics and politics of balance, they show that there will be an inevitable demise ahead.
Synopsis
In this groundbreaking book, two economists explain why financial imbalance causes civil collapse—and why America could be next.From the Roman Empire to the Ming Dynasty to Imperial Spain, the superpowers of the world have grown to become the greatest economic, political, and military forces of their time—only to collapse into rubble and memory. What is at the root of their demise—and how can America stop it from happening again?
In the tradition of James Robinson’s Why Nations Fail and Jared Diamond’s Collapse, Glenn Hubbard and Tim Kane present a bold, sweeping account of why powerful nations and civilizations break down under the heavy burden of financial imbalance. A bold and challenging book with cataclysmic predictions, Balance traces the successes and failures of post-colonial Argentina, the economic mismanagement of modern California, the long collapse of Rome, and the manufacturing bubble of Japan. Most importantly, Hubbard and Kane compare the modern United States to the empires of old and challenge Americans to address the real problems of our country’s economic trajectory. In doing so, they set the stage for discussion and directly address the challenges our nation faces in the coming years.
Synopsis
In this groundbreaking book, two economists explain why economic imbalances cause civil collapse— and why the United States could be next.
From the Ming Dynasty to Ottoman Turkey to imperial Spain, the Great Powers of the world emerged as the greatest economic, political, and military forces of their time—only to collapse into rubble and memory. What is at the root of their demise—and how can the United States stop this pattern from happening again?
A quarter century after Paul Kennedy’s The Rise and Fall of the Great Powers, Glenn Hubbard and Tim Kane present a bold, sweeping account of why powerful nations and civilizations break down under the heavy burden of economic imbalance. Introducing a profound new measure of economic power, Balance traces the triumphs and mistakes of imperial Britain, the paradox of superstate California, the long collapse of Rome, and the limits of the Japanese model of growth. Most importantly, Hubbard and Kane compare the twenty-first-century United States to the empires of old and challenge Americans to address the real problems of our country’s dysfunctional fiscal imbalance. If there is not a new economics and politics of balance, they show that there will be an inevitable demise ahead.
About the Author
Glenn Hubbard is the dean of Columbia Universityand#8217;s Graduate School of Business and the former chairman of the Presidentand#8217;s Council of Economic Advisers. He is a frequent contributor to andlt;iandgt;Business Weekandlt;/iandgt;,andlt;iandgt; The Wall Street Journalandlt;/iandgt;, and andlt;iandgt;The New York Timesandlt;/iandgt;, as well as PBSand#8217;s andlt;iandgt;The Nightly Business Reportandlt;/iandgt; and American Public Mediaand#8217;s andlt;iandgt;Marketplaceandlt;/iandgt;. He lives in Manhattan with his wife and two sons.Tim Kane is the chief economist of the Hudson Institute, veteran Air Force officer, and has twice served at the Joint Economic Committee of the US Congress. He regularly writes for andlt;iandgt;The Atlantic, The New York Timesandlt;/iandgt;, andlt;iandgt;Los Angeles Timesandlt;/iandgt;, and andlt;iandgt;USA TODAYandlt;/iandgt; and is a well-known public speaker. He lives in northern Virginia with his wife and children.