DOC Concrete Economics: The Hamilton Approach to Economic Growth and Policy by Stephen S. Cohen; J. Bradford DeLong in History

Review

0 of 0 people found the following review helpful. Better than the musicialBy CustomerWell done -- the title should be reversed. This short polemic does a excellent job of reviewing the history of involvement of the federal government in the development of the US economy. The hypothesis of the text is that Hamilton started the US away from being a raw materials supplier toward becoming the industrial powerhouse that US ultimately became. The trajectory was successful because the US always choose the 'pragmatic' solution to a problem. In the end the authors argue that the US has left the pragmatic path and has moved toward an unsuccessful ideological path in the 30-ish years. The book is modestly well documented. It is well written and; generally speaking; avoids 'economics' speak.0 of 0 people found the following review helpful. A Plea For Economic Pragmatism.By Kevin HillA pragmatic look at the History of the American Economy with a plea for pragmatism rather than ideology. The hero of this account is; of course; Alexander Hamilton; a man of amazing foresight and commonsense. The book is well worth reading for the broad perspective it provides for today's issues. Its argument is not one based on abstract ideas or mathematical models; instead it is based on looking at history; the history of how the US economy benefited from a pragmatic government approach for much of our past.3 of 4 people found the following review helpful. Small volume packs a heavyweight punch; knocking out tired myths about the oppressiveness of the U.S federal government.By Robert J. SeidmanStephen S. Cohen and J. Bradford DeLong’s "Concrete Economics" is a mere 192 pages. But what a little volume with such a huge grasp. What other economics text do you know that’s literate; readable; deft and informed? Forcefully but reasonably; Concrete Economics debunks the Republican litany that government is the enemy and that “starving the beast” is a divine mission. Such an ostrich-like article of faith ignores the impressive history of U.S. growth and development. Cohen and De Long present hard evidence about the importance of government as a major engine of the U.S. economy; an indispensable source for funding of essential research and development; the guarantor of capital intense undertakings too large for the private sector. Indeed; the authors correctly state that federal investment sponsored the most important strides in infrastructure and growth of markets—creating the extensive American canal system to move goods to cities; husbanding our unprecedented miles of railroads and the vast interstate highway system as well as our once state-of-the-art airports. Government also was the initiating force behind the R D that led to the creation of computers and the internet. The government-sponsored investment in what the country needed ran afoul of the deregulation mania of that began in the Reagan era; which helped spur the vast income disparities we now face. Please buy and read and spread the word about the importance of Concrete Economics. Rarely is such a valuable volume so accessible; so valid and so convincing about where we once were as a nation and where we should be heading. A five-star gem.Robert J. Seidman is a novelist; screenwriter; literary critic. Not a quantitative fellow; he greatly appreciates this addition by superb economists to his layman’s understanding of our economic past and future.Stephen S. Cohen and J. Bradford DeLong’s Concrete Economics is a mere 192 pages. But what a little volume with such a huge grasp. What other economics text do you know that’s literate; readable; deft and informed? Forcefully but reasonably; Concrete Economics debunks the Republican litany that government is the enemy and that “starving the beast” is a divine mission. Such an ostrich-like article of faith ignores the impressive history of U.S. growth and development. Cohen and De Long present hard evidence about the importance of government as a major engine of the U.S. economy; an indispensable source for funding of essential research and development; the guarantor of capital intense undertakings too large for the private sector. Indeed; the authors correctly state that federal investment sponsored the most important strides in infrastructure and growth of markets—creating the extensive American canal system to move goods to cities; husbanding our unprecedented miles of railroads and the vast interstate highway system as well as our once state-of-the-art airports. Government also was the initiating force behind the R D that led to the creation of computers and the internet. The government-sponsored investment in what the country needed ran afoul of the deregulation mania of that began in the Reagan era; which helped spur the vast income disparities we now face. Please buy and read and spread the word about the importance of Concrete Economics. Rarely is such a valuable volume so accessible; so valid and so convincing about where we once were as a nation and where we should be heading. A five-star gem.Robert J. Seidman is a novelist; screenwriter; literary critic. Not a quantitative fellow; he greatly appreciates this addition by superb economists to his layman’s understanding of our economic past and future.