From one of the world’s leading economists and his coauthors, a cutting-edge analysis of what drives economic growth and a blueprint for prosperity under capitalism. Crisis seems to follow crisis. Inequality is rising, growth is stagnant, the environment is suffering, and the COVID-19 pandemic has exposed every crack in the system. We hear more and more calls for radical change, even the overthrow of capitalism. But the answer to our problems is not revolution. The answer is to create a better capitalism by understanding and harnessing the power of creative destruction—innovation that disrupts, but that over the past two hundred years has also lifted societies to previously unimagined prosperity. To explain, Philippe Aghion, Céline Antonin, and Simon Bunel draw on cutting-edge theory and evidence to examine today’s most fundamental economic questions, including the roots of growth and inequality, competition and globalization, the determinants of health and happiness, technological revolutions, secular stagnation, middle-income traps, climate change, and how to recover from economic shocks. They show that we owe our modern standard of living to innovations enabled by free-market capitalism. But we also need state intervention with the appropriate checks and balances to simultaneously foster ongoing economic creativity, manage the social disruption that innovation leaves in its wake, and ensure that yesterday’s superstar innovators don’t pull the ladder up after them to thwart tomorrow’s. A powerful and ambitious reappraisal of the foundations of economic success and a blueprint for change, The Power of Creative Destruction shows that a fair and prosperous future is ultimately ours to make.

Unlike previous histories, this book argues that the politics of slavery profoundly influenced the western mission of the regular army - affecting the hearts and minds of officers and enlisted men both as the nation plummented toward civil war."--BOOK JACKET.

Macau, New Orleans, St. Louis, Pittsburgh, and San Francisco. All of these metropolitan centers were once frontier cities, urban areas irrevocably shaped by cross-cultural borderland beginnings. Spanning a wide range of periods and locations, and including stories of eighteenth-century Detroit, nineteenth-century Seattle, and twentieth-century Los Angeles, Frontier Cities recovers the history of these urban places and shows how, from the start, natives and newcomers alike shared streets, buildings, and interwoven lives. Not only do frontier cities embody the earliest matrix of the American urban experience; they also testify to the intersections of colonial, urban, western, and global history. The twelve essays in this collection paint compelling portraits of frontier cities and their inhabitants: the French traders who bypassed imperial regulations by throwing casks of brandy over the wall to Indian customers in eighteenth-century Montreal; Isaac Friedlander, San Francisco's "Grain King"; and Adrien de Pauger, who designed the Vieux Carré in New Orleans. Exploring the economic and political networks, imperial ambitions, and personal intimacies of frontier city development, this collection demonstrates that these cities followed no mythic line of settlement, nor did they move lockstep through a certain pace or pattern of evolution. An introduction puts the collection in historical context, and the epilogue ponders the future of frontier cities in the midst of contemporary globalization. With innovative concepts and a rich selection of maps and images, Frontier Cities imparts a crucial untold chapter in the construction of urban history and place.

Reproduction of the original: The Panjab, North-West Frontier Provincce and Kashmir by James Douie