The Path to Prosperity (Free Market, Sound Money, Plus a Little Luck)

Author: (American) Rudiger Dornbusch, translated by Shen Zhiyan
Publisher:
Publish Date: 2006-07-01
Features: This book collects the latest policy commentaries and longer articles by Rudiger Dornbusch, a professor of economics and international management at the Massachusetts Institute of Technology (MIT), published in magazines such as Business Week, The Wall Street Journal, and The Financial Times. These articles focus on international and U.S. domestic economic policy issues, including inflation and debt problems, exchange rate reforms, trade policies, emerging market countries, and the intersection of politics and economics. The articles are vividly written, offer unique perspectives, and are highly insightful. Through these pieces, Dornbusch openly advocates for the economic ideas of the Chicago school, arguing that markets can best solve problems, while bureaucracies, despite sometimes having good intentions, are often distracted by political reasons or become overly enthusiastic about perfect solutions. Dornbusch attempts to challenge those responsible for proposing alternative solutions, limiting their ambitions. His targets of criticism include central bank officials, government bureaucrats, labor organizations, and utopian social reformers from Brazil, Japan, Russia, and other sites of economic disasters.