American Gridlock: Why the Right and Left Are Both Wrong - Commonsense 101 Solutions to the Economic CrisesISBN: 978-0-470-63892-7
Hardcover
304 pages
January 2012
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Chapter 1 Dialogue of the Deaf 1
What to Do About It
What Went Wrong: Origins of the Dialogue of the Deaf
The Role of Deductive versus Inductive Logic in Policy Analysis
The Illogic of Policy Analysis Today
What Must Be Done to Raise the Level of Debate
Chapter 2 Must There Be a Lost Decade? 23
A Socratic Dialogue with the President Explains Why Not
Reasons for Lackluster Growth During the Remainder of this Decade
"Good" versus "Bad" Deficits, and the Main Policy Proposal
The Identifi cation and Ranking of Public Investment Projects by Their Return
When Huge Defi cits Are Justifi ed: A Unifi cation of the Arrow-Kurz and Keynesian Theories
Chapter 3 Resolving the Entitlements Spending Crisis 75
How to Drive Health-Care Spending Down while Increasing Access
A Supply-Side Solution to the Health-Care Crisis
Three Basic Assumptions for an Optimal Health-Care System
Expert Systems and Automation
Redressing the Social Security Deficit
Chapter 4 Preventing Perfect Financial Storms 119
When Everyone Was Too Clever by Half
The Four Origins of Today's Financial Crisis
The Role of Bad Economic Theory
Emergence of a Pathological Incentive Structure
Requisite Policy Reforms
Chapter 5 Bargaining Theory 101 157
How Not to Deal with China
The Origins of Economics Imperialism
The Possibility of the Hegemony of Political Science: The Nash-Harsanyi Pluralistic Bargaining Model
How Not to Negotiate with Thugocracies—The Case Study of China
The Remarkable Power of the Bargaining Model in Political Science and Beyond
Chapter 6 Beyond Democratic Capitalism 199
An Idealized Political Economy, with Distributive Justice
True Textbook Capitalism, and the Correct Role of Government
Beyond Effi ciency: The Eight Ideals of an Optimal Social System
Distributional Equity
A Comprehensive Theory of Distributive Justice
Conclusion 231
Appendix A Supply/Demand Summary of the Patient Protection and Affordable Care Act 235
Appendix B Dynamics of Total Health-Care Expenditure 241
Notes 249
Index 267
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