Seeds of Destruction : Why the Path to Economic Ruin Runs Through Washington, and How to Reclaim American Prosperity

"Seeds of Destructionis everything that Washington policymaking is not: sober, lucid, reasoned, timely, bipartisan, and constructive." Douglas Holtz-Eakin, President of the American Action Forum and former Director of the Congressional Budget Office (2003-2005) "Glenn Hubbard and Peter Navarro combine their unique experiences in government and politics with their crystal-clear economic insights to produce a lively and compelling account of the origins of the financial crisis and the problems now plaguing the American economy. The book convincingly explains how government policy planted the seeds of destruction and how a change in government policy can root them out and plant the seeds of prosperity. Their diagnoses and remedies should be read, studied carefully, and applied." John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University, and former Undersecretary of the Treasury for International Finance "A thoughtful and politically provocative diagnosis of Americars"s economic ills." Kenneth S. Rogoff, coauthor,This Time is Different, and Thomas D. Cabot Professor of Public Policy, Harvard University "This book is a ls"must-readrs" for all persons who are concerned about our economic future. It shows the disastrous folly of our current economic policies and, more important, it lays out the proper policies to achieve a sound and prosperous economic future." John Cogan, Professor at Stanford University and former Deputy Director of the Office of Management and Budget "In this dramatic nonpartisan book, Glenn Hubbard and Peter Navarro lay out the true roots of the current troubles. They then open their hands and show ls"seeds of prosperity,ls" a new set of policies that can, if planted, make the economic garden grow even more dramatically than it did in the past. No pair of authors is more qualified than these to undertake this." From the Foreword by Amity Shlaes, bestselling author ofThe Forgotten Man: A New History of the Great Depression Government policy and the Obama administration are driving the American economy straight toward catastrophe. Now, two respected economistsone a Republican, one a Democratexplain why these policies are so dangerous and offer a bipartisan, common-sense blueprint for reversing Americars"s economic decline. Glenn Hubbard and Peter Navarro explain why sustained growth is the only long-term solution, outline the elements of a vibrant economy, and explain why current policies are failing on every level. They reveal how we can finally restore the critical U.S. manufacturing basehellip;return to our tradition of sound money hellip;transform tax policy into an engine of growth and innovationhellip;save Social Security and Medicare with "tough love"hellip;use market-based solutions to achieve real energy independencehellip;reform antique financial regulations without making matters worse...and balance our burgeoning budget deficits with strong economic growth rather than through punitive taxation. Whatever your politics, if yours"re frightened about the future, you should be. This book shows how we can grab the steering wheel, veer away from the cliff, and build a brighter economic future for everyone. Short-term stimulus, long-term disaster