Financial Reckoning Day
(William Bonner and Addison Wiggin)
This book is an intellectual tour de force. The breadth of the authors? accomplishment is impressive, drawing on sources from Emerson to Einstein to Freud to Adam Smith and more. Whether their analysis is correct, however, is highly debatable. One could build a small mountain out of books that have declared prematurely that the American economic miracle is over. This volume draws heavily on the Japanese model to predict continued economic doldrums in the U.S., and the comparison seems a poor fit. Its over-reliance on a continental historical perspective - Americans are naïve, overly optimistic fools whose prosperity is the result of dumb luck - seems fairly dubious. None of that takes away from the authors? keen perspective. Right or wrong, they bring intellectual light to the question, ?Just what is going on with the American economy?.
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