Four years ago, Edward Conard wrote a controversial bestseller, Unintended Consequences, which set the record straight on the financial crisis of 2008 and explained why U.S. growth was accelerating relative to other high-wage economies. He warned that loose monetary policy would produce neither growth nor inflation, that expansionary fiscal policy would have no lasting benefit on growth in the af
Ed Conard is the author of two top ten New York Times bestselling books: The Upside of Inequality: How Good Intentions Undermine the Middle Class and Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong. He is a visiting scholar at the American Enterprise Institute. Previously, he was a founding partner at Bain Capital, where he worked closely with former presidential candidate Mitt Romney.
"Ed Conard challenges misconceptions that distort our economic debates. He debunks the myth that inequality is a conspiracy perpetuated by robber barons and sheds light on the complex economic phenomena that shape America's success. Readers of all political persuasions will benefit from this highly-informative book." --Arthur Brooks, president of the American Enterprise Institute "This provocative new book by Ed Conard is a must-read for serious students of economic policy. Conard's core thesis--that advancement in living standards is constrained by risk capital and properly trained talent--suggests an inequality borne of returns from innovation. His solutions are sensible and all the more compelling in the context of this paean to risk-taking." --Glenn Hubbard, dean of Columbia Business School and former chairman of the Council of Economic Advisers "Conard makes a fresh argument for the productive value of inequality, which is that scarce entrepreneurial effort and risk-tolerant capital are the resources that are both most central to economic growth and most sensitive to the potential distortions imposed by taxation and regulation. Whether or not one accepts this argument, it's an argument well worth having." --David Autor, professor of economics, Massachusetts Institute of Technology "I profoundly disagree with much of what is in Conard's book but respect the clarity with which he makes his case. Agree or disagree, this book can sharpen your thinking on critical economic issues, making it a very valuable contribution." --Larry Summers, former Secretary of the Treasury and Director of the National Economic Council, President Emeritus, Harvard University "Ed Conard puts forward a comprehensive explanation of the modern economy. Critics may dismiss it as a defense of the 1 percent, but it's much, much more than that. I rarely see economic analysis as insightful as this." --Julian Robertson, founder of Tiger Management "Page after page, Ed Conard challenges conventional wisdom about the causes of growing inequality, the constraints to growth, and the feasibility of commonly proposed solutions to advance a thought-provoking blueprint for growing middle- and working-class incomes in a world with an abundance of workers. Whether you agree or not, this is serious thinking for serious thinkers." --Mitt Romney, former Governor of Massachusetts