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Capitalism in America
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About the Author

Alan Greenspan was born in 1926 and reared in the Washington Heights neighborhood of New York City. After studying the clarinet at Juilliard and working as a professional musician, he earned his BA, MA, and PhD in economics from New York University. In 1954, he cofounded the economic consulting firm Townsend-Greenspan & Company. From 1974 to 1977, he served as chair of the Council of Economic Advisors under President Gerald Ford. In 1987, President Ronald Reagan appointed him chairman of the Federal Reserve Board, a position Greenspan held until his retirement in 2006. He is the author of the #1 New York Times bestseller The Age of Turbulence. Adrian Wooldridge is a Washington correspondent for The Economist and was its West Coast bureau chief, based in Los Angeles. He is the author of Measuring the Mind: Education and Psychology in England, 1860-1990. He has written for The Wall Street Journal, The New Republic, and The Times of London, and has appeared on NPR and the BBC.

Reviews

"This book snaps, crackles and pops . . . Three themes are highlighted--productivity as the measure of economic progress; the 'Siamese twins of creation and destruction' as the sources of productivity growth; and the political reaction to the consequences of creative destruction . . . Readers will emerge from this heady blend of economic, business, and political history with a sense of exhilaration that so much of the American experience could be described so vividly and insightfully." --Financial Times, one of the Best Books of The Year in Economics

"Capitalism in America makes a strong case, with some wonderful insights into business history. Innovation, spread to the masses, is indeed the engine of capitalist economies." --The Economist "A compelling and well-documented single-volume history. It reminds us of how the US has beaten the world in the past 150 years and why it might still be unwise to bet against it now." --The Times of London "A masterful guide to capitalism American style . . . You don't have to be an economics wonk to enjoy and learn from Capitalism in America." --The Washington Times "Capitalism in America is a delightful romp through the 400-year economic life of America from agricultural giant to industrial juggernaut to information/technology revolutionary. Stories and statistics sparkle on every page. But the book is more than a history. It is a policy guide to make sure capitalism in America flourishes like never before . . . this book is required reading for anyone who cares about life, liberty, and prosperity in America." --The American Conservative "Strongly recommended. This illuminating and in-depth history . . . is a valuable contribution to U.S. business history because it explains financial events and the culture of innovation from macro-economic perspectives and offers remarkable insights into the current business climate." --Library Journal, starred review "A smart and engaging look at the workings of the economic machine under various regimes, isolationist and internationalist alike." --Kirkus "A sweeping and brilliantly told narrative by two authors who have spent their careers thinking about the wellsprings of economic growth. Anchored by the combination of Alan Greenspan's legendary skill with data and talent for analysis, and Adrian Wooldridge's knowledge and perspective on business history, Capitalism in America is full of insights that will surprise you and change your perspective on many of the key episodes of U.S history." --Liaquat Ahamed, author of Lords of Finance, winner of the 2010 Pulitzer Prize "A work of bold sweep and illuminating insight that tells nothing less than the story of American capitalism--both its extraordinary achievements and its darkest moments--from the earliest days in colonies 'at the edge of the world, ' to the Internet revolution. Greenspan and Wooldridge combine penetrating analysis with striking portraits of the people who made it all happen, which, together, demonstrate their theme of the constant capacity for innovation and reinvention. At a time when 'capitalism' itself is a subject of doubt and target of assault, this is a book that the times demand, and one that will contribute much to the debate." --Daniel Yergin, author of The Prize and The Quest and co-author of Commanding Heights: the Battle for the World Economy

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