Balance : The Economics of Great Powers from Ancient Rome to Modern America

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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 America stop this pattern from happening again? A quarter century after Paul Kennedy's 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. Without a new economics and politics of balance, they show the inevitable demise ahead.

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  • Hardback | 368 pages
  • 162.56 x 228.6 x 27.94mm | 521.63g
  • New YorkUnited States
  • English
  • New.
  • 1476700257
  • 9781476700250
  • 374,743

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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

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About Tim Kane

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 The Atlantic, The New York Times, The Los Angeles Times, and USA TODAY and is well-known public speaker. Glenn Hubbard is the dean of Columbia University's Graduate School of Business and the former chairman of the President's Council of Economic Advisers. He is a frequent contributor to Business Week, The Wall Street Journal, and The New York Times, as well as PBS's The Nightly Business Report and American Public Media's Marketplace.

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