I was at a dinner at the Harvard Club in New York City the other night for an interesting new book from the Bush Institute. The dinner host was Amity Shlaes, and the book is called “The 4% Solution: Unleashing the Economic Growth America Needs.” The gist of the argument is this: that with 4 percent annual GDP growth we can solve a great many problems bedeviling our society, and that 4 percent is eminently achievable. (The average since the end of World War II is somewhere near 3 percent).
Here’s how the New York Times describes the book:
For the first time since leaving office three and a half years ago, Mr. Bush is advancing a variety of ideas about how to jump-start economic growth by restructuring taxes, expanding trade, encouraging innovation, fixing immigration and overhauling Social Security. He wrote the foreword for the book, a collection of essays from an array of economists, including five Nobel Prize winners, and he proposes a national goal of expanding the economy by 4 percent a year on a sustained basis.
Some very interesting essays here (and they are short, so they don’t bog down). Also interesting in light of today’s news that, in the 2nd quarter of this year, the economy’s growth slowed to a rate of just 1.5%. The argument here is that America would be better served if we shifted the debate to growth (Note: Governor Romney) instead of all the chatter about “creating jobs.”
I’m about half-way through. Anyone out there read it yet?