Edward Conard

The scourge of America’s economy isn't the success of the 1 percent—quite the opposite. The real problem is the government’s well-meaning but misguided attempt to reduce the payoffs for success. Four years ago, Edward Conard wrote a controversial bestseller, Unintended Consequences , which set the record straight on the financial crisis of 2008 and explained why U.S. growth was accelerating relative to other high-wage economies. He warned that loose monetary policy would produce neither growth nor inflation, that expansionary fiscal policy would have no lasting benefit on growth in the aftermath of the crisis, and that ill-advised attempts to rein in banking based on misplaced blame would slow an already weak recovery. Unfortunately, he was right. Now he’s back with another provocative argument: that our current obsession with income inequality is misguided and will only slow growth further. Using fact-based logic, Conard tracks the implications of an economy now constrained by both its capacity for risk-taking and by a shortage of properly trained talent—rather than by labor or capital, as was the case historically. He uses this fresh perspective to challenge the conclusions of liberal economists like Larry Summers and Joseph Stiglitz and the myths of “crony capitalism” more broadly. Instead, he argues that the growing wealth of most successful Americans is not to blame for the stagnating incomes of the middle and working classes. If anything, the success of the 1 percent has put upward pressure on employment and wages. Conard argues that high payoffs for success motivate talent to get the training and take the risks that gradually loosen the constraints to growth. Well-meaning attempts to decrease inequality through redistribution dull these incentives, gradually hurting not just the 1 percent but everyone else as well. Conard outlines a plan for growing middle- and working-class wages in an economy with a near infinite supply of labor that is shifting from capital-intensive manufacturing to knowledge-intensive, innovation-driven fields. He urges us to stop blaming the success of the 1 percent for slow wage growth and embrace the upside of inequality: faster growth and greater prosperity for everyone.

In the aftermath of the Financial Crisis, many com­monly held beliefs have emerged to explain its cause. Conventional wisdom blames Wall Street and the mortgage industry for using low down pay­ments, teaser rates, and other predatory tactics to seduce unsuspecting home owners into assuming mortgages they couldn't afford. It blames average Americans for borrowing recklessly and spend­ing too much. And it blames the tax policies and deregulatory environment of the Reagan and Bush administrations for encouraging reckless risk taking by wealthy individuals and financial institutions. But according to Unintended Consequences, the conventional wisdom masks the real causes of our economic disruption and puts us at risk of facing a slew of unintended-and potentially dangerous-consequences.

Discover the magic of Christmas and let your creativity rythm with this whimsical collection of of cute and festive illustrations by Edward conard : uncover over two dozen delightful Festive scenes, ranging from Santa and snowmen to beautiful looking kids and animal, holiday decorations and more!A gorgeous mix of simple and intricate designs suits coloring fans of all ages, gender and skill levels.Promotes the soothing advantage of meditative mindfully, relaxation, and art therapy that Makes a heartwarming gift idea for adults, teens, girls, seniors, and all of loved ones Quality single sided paper prevents bleed-through,so you can break out your favorite pens, pencils, markers, watercolors and more!And includes a bonus color page featuring an adorable collection of cute & cuddly Christmas- themed illustrations, this magical book by Edward conard shares the Festival spirit, inspiring coloring fans of all ages with a beautiful mix of fluffy animals, santa and elf, jolly snowman, colorful presents and plenty Christmas cheer.Decorate a Christmas tree, send letters to north pole, and embrace the wonders of giving with this heartfelt selection of easy santa and friends holiday scenes.The Merry Christmas color book offers a perfect ways to celebrate the end of the year, release pent-up stress and anxiety, and give the gift of coloring to someone special you know.