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Business Books A-F G-M N-S T-Z
Economic and Policy Books* A-F G-M N-S T-Z

Telecommunications Competition: The Last Ten Miles
By Ingo Vogelsang and Bridger M. Mitchell
AEI Press March 1997
ISBN 0844740659

This book analyzes the effects of dramatic technological, regulatory, and market changes on competition in the last ten miles of the telephone network--the most pivotal issue raised by the Telecommunications Act of 1996.

Ingo Vogelsang is professor of economics at Boston University. Bridger M. Mitchell is a vice president of Charles River Associates.

Local competition today appears as contentious as long-distance competition was in the early 1970s. And whereas in the 1970s AT&T faced competition mainly from what was then a tiny startup company called MCI, local service incumbents today are under attack from a host of entrants, ranging from small but financially well-backed competitive access providers, cable television companies, electric utilities, and cellular carriers to the mighty AT&T itself.

Tell Me Why: A Father Answers His Daughter's Questions about God
By Michael Novak and Jana Novak
Pocket Star September 1998
ISBN 067101885X
320 pages

Why is religion, any religion, important? How should we think of God? Does one need to be a Mother Teresa to be a good Christian? A long list of such questions from Jana Novak to her father, theologian Michael Novak, led to Tell Me Why, an extended dialogue about religion and its bearing on contemporary life.

Michael Novak, recipient of the Templeton Prize for Progress in Religion in 1994, holds the George Frederick Jewett Chair at AEI. His dozens of books include The Spirit of Democratic Capitalism, Business as a Calling: Work and the Examined Life, The Joy of Sports, and Belief and Unbelief. Jana Novak writes poetry and fiction and is employed as a speechwriter in Washington, D.C.

In the early summer of 1996, Michael Novak was at a seminar in Poland when his daughter Jana faxed a long series of questions. That message and his reply were the beginning of a correspondence between daughter and father that turned into Tell Me Why. In his initial reply, Michael Novak wrote: "I want to do the best thinking and writing I can, because as far as I'm concerned this is your inheritance, or the most part of it." He went on to explain, "What I have to leave you, Jana, is the inner life of our faith. It has kept our family going through wars and peace for perhaps a thousand years, in the invisible lustrous chain of God's love."

Telling the Truth: Why Our Culture and Our Country Have Stopped Making Sense--and What We Can Do about It
By Lynne V. Cheney

Touchstone Books Reprint edition (September 1996)
ISBN 0684825341
260 pages

This book is a study of the threat to American culture and society posed by contemporary doctrines of multiculturalism, critical legal studies, radical feminism, and critical race theory. The author is the W. H. Brady, Jr., Distinguished Fellow at AEI. Excerpts from the book's introduction follow.

As one witness reported it, "The scene . . . recalled the daily minute of hatred' in George Orwell's 1984, when citizens are required to rise and hurl invective at pictures of a man known only as Goldstein, the Great Enemy of the state." And I was Goldstein, one of the enemies whose very name evoked jeers and hoots from the assembly--which, somewhat surprisingly considering their behavior, happened to be composed of academics from Duke University and the University of North Carolina. And what had I done to deserve demonization by this distinguished group? As chairman of the National Endowment for the Humanities (NEH), I had written a pamphlet entitled, innocuously enough, Humanities in America: A Report to the President, the Congress, and the American People. In it, I had observed:

The Advantage of Competitive Federalism for Securities Regulation
By Roberta Romano
AEI Press (January 2003)
ISBN 0844741736

In this incisive analysis of securities regulation, Roberta Romano demonstrates that the current approach toward U.S. securities regulation by the Securities and Exchange Commission should be revamped by implementing a regime of competitive federalism. Under such a system firms would select their regulator from among the fifty states, the District of Columbia, the SEC, or other nations. She asserts that competitive federalism harnesses the high-powered incentives of markets to the regulatory state to produce regulatory arrangements compatible with investors' preferences. Firms will locate in the domicile investors prefer so as to reduce the cost of capital, and states will have financial incentives, such as incorporation and registration fees, to adapt their securities regimes to firms' domicile decisions.

Romano contends that empirical evidence does not indicate that the SEC is effective in achieving its stated objectives. The commission's expansions of disclosure requirements have not had a significant impact on investors' wealth. Indeed, she contends, evidence from institutional equity and debt markets and cross-country listing practices have shown that firms voluntarily disclose more information than they would under mandatory requirements because firms want to provide the information investors demand. Romano concludes that competitive federalism will enable new U.S. and foreign issuers as well as mature issuers to select a securities regulatory regime that is superior to that of the SEC: the aspects of the SEC's regime that are valuable to investors will be retained; those that are not will be discarded. The resulting regime will enhance the wealth of investors.

The Antitrust Laws: A Primer, Fourth Edition
By John H. Shenefield and Irwin M. Stelzer
AEI Press 4th edition (November 2001)
ISBN 084474154X
190 pages

This book explains antitrust policy and the way antitrust laws treat a variety of business practices.

It will enable business executives and students to understand the interaction of law and economics in antitrust enforcement and to assess more knowledgeably day-to-day business situations. The new edition features expanded discussions of how the antitrust laws apply to intellectual property and of international antitrust enforcement.

Mr. Shenefield, a partner in the Washington, D.C., firm of Morgan, Lewis, and Bockius, is former head of the Antitrust Division of the U.S. Department of Justice. Mr. Stelzer is the director of regulatory policy studies at the Hudson Institute.

The Bell Curve: Intelligence and Class Structure in American Life
by Richard J. Herrnstein and Charles Murray
Touchstone Books January 1996
ISBN 0684824299

The Bell Curve is a meticulous examination of the nature of human intelligence and its role in shaping American society. It argues that intelligence, as measured by IQ and similar tests, is a real and important attribute of individuals; that intelligence varies from person to person in the same way that height and other physical characteristics vary (there is a "normal distribution" of intelligence within a population--hence "the bell curve"); that American communities (residential, educational, occupational, social) are becoming stratified by cognitive ability; that this stratification jeopardizes social welfare and our political institutions and ideals in important ways; and that numerous government policies are aggravating the problem.
The Bell Curve presents an enormous weight of evidence and scholarship on each of these points, while providing balanced discussion of alternative interpretations and viewpoints. The book is a model of clear writing about complex and controversial topics and is carefully organized to be easily accessible to general readers as well as to experts.

The Congress of Prague: Revitalizing the Atlantic Alliance
Edited by Gerald Frost and William E. Odom
AEI Press June 1997
ISBN 0844740217
150 pages

On May 10-12, 1996, more than 300 intellectual and political leaders met at the Congress of Prague. Czech President V clav Havel welcomed the participants, who came to celebrate the achievements of Western civilization and to affirm the values on which that civilization is based. The event, which launched the New Atlantic Initiative (NAI), concluded with a declaration of common principles--an eloquent and unapologetic statement of belief in individual liberty, the market economy, and democratic pluralism, which those present were invited to sign. The chapters in this volume derive from the addresses and policy discussions at the congress. Gerald Frost is research director of the New Atlantic Initiative and a consultant director of the Institute for European Defense and Strategic Studies. Lt. Gen. William E. Odom, USA (ret.), is director of national security studies for the Hudson Institute and an adjunct professor at Yale University.
The Congress of Prague is a guide to the issues that will shape what is currently a fluid and uncertain international order. It explores the means available to persons prepared to act on the conviction of those who organized the congress--that enhancing international stability, raising standards of prosperity, and expanding the sphere of individual liberty depend crucially on rejuvenating the Atlantic partnership.

The Cuban Revolution and the United States: A History in Documents, 1958-1960
Edited by Mark Falcoff
U.S. Cuba Press December 6, 2001
ISBN 1884750028
452 pages

In this book, Mark Falcoff debunks longstanding myths about the early years of the Cuban revolution, drawing primarily on previously classified materials and other primary sources. He covers the decline of the Batista regime, the ascendancy of Fidel Castro and communism, and the growing alignment with the Soviet bloc, as well as U.S. attempts to remove Castro. The documents Falcoff examines underscore the confusion and impotence of the United States when it was faced with a ruthless and determined revolutionary backed by another superpower and prepared to play a high-stakes game regardless of the ultimate cost to his people.
Falcoff is a resident scholar at AEI and was previously a visiting fellow at the Council on Foreign Relations. His recent books include A Culture of Its Own: Taking Latin America Seriously (1998) and Panama's Canal: What Happens When the United States Gives a Small Country What It Wants (1998). The following summary is adapted from his introduction to The Cuban Revolution and the United States.

Few foreign policy issues of the postwar era have been subject to so much myth and misrepresentation as the circumstances surrounding the United States's reaction to the Cuban revolution. The way that we view Castro's revolution-its origins, course, and consequences-has been strongly influenced by our evolving notions of that larger event, and the Cuban regime has unquestionably benefited these past thirty years from the advance of revisionist interpretations.
Thus, the story goes, an innocent Castro, seeking help from a cold and unfeeling United States, was "forced" to turn to the Soviet Union. In spite of the fact that the Cuban dictator himself has on occasion denied that this was the case and in spite, too, of repeated findings to the contrary by historians, this basically fictitious version has won near-universal acceptance. But now a huge cache of formerly classified materials, taken together, explodes the myth of the United States driving Cuba into revolution. The most important of these sources is a volume edited by John P. Glennon, Foreign Relations of the United States, 1958-1960: Cuba. While it is an invaluable source for historians, it is cumbersome and-at more than a thousand pages long-even a bit intimidating for the general user. And while the editor provides some explanatory notes, they are far from adequate for the laity. The Cuban Revolution and the United States is an attempt to extract from that volume its most valuable essence and add background (and at times a running commentary), while enriching the findings with additional materials whose inclusion, logically, would be out of place in a diplomatic yearbook.

The Demise of Environmentalism in American Law
by Michael S. Greve
American Enterprise Institute 1st edition (April 1996)
ISBN 0844739804
147 pages

This book is a study of legal doctrines that hinder the development of efficient, economically sound policies for protecting the environment. The author is the executive director of the Center for Individual Rights and an adjunct scholar at AEI. A summary of the book follows.

Legal scholars, policy analysts, and journalists who follow environmental politics have noted that federal courts have become increasingly skeptical of environmental regulation. Judges now treat environmental interest groups and regulators more harshly, and industry plaintiffs more sympathetically. These tendencies signal a broader and more profound shift, the demise of environmental values and ideology in American constitutional and administrative law. The courts have jettisoned ecological presumption and returned to more traditional legal doctrines. This shift is conducive to somewhat more sensible and efficient regulation. Moreover, it has had a profound effect on the substance and tone of the environmental policy debate.

The Economics of Crop Insurance and Disaster Aid
By Barry K. Goodwin and Vincent H. Smith
AEI Press September 1995
ISBN 0844739081
153 pages

This book is a study of the history, operation, and performance of U.S. crop insurance and disaster relief programs. The authors are associate professors of agricultural economics at North Carolina State University and Montana State University, respectively. A summary of the book follows.

Subsidized government insurance and disaster relief programs were first introduced in 1938 to aid depression-era farmers in managing catastrophic yield shortfalls due to weather or other natural disasters. The programs have since developed into a complex, expensive, and, at times, contradictory set of policies. Between 1985 and 1993, more than $25 billion was directed toward agricultural disaster assistance and insurance programs.

The Economics of Preferential Trade Agreements
Edited By Jagdish Bhagwati and Arvind Panagariya
AEI Press December 1996
ISBN 0844739693
168 pages

The essays collected in this volume critically assess the claims advanced by proponents of free trade areas and analyze the two principal initiatives of recent U.S. trade policy: the North American Free Trade Agreement and the Asia-Pacific Economic Cooperation. Mr. Bhagwati is the Arthur Lehman Professor of Economics and professor of political science at Columbia University. Mr. Panagariya is professor of economics and codirector of the Center for International Economics at the University of Maryland.

Contrary to popular opinion, which equates free trade agreements (FTAs) with genuine free trade, FTAs are in fact preferential trading arrangements (PTAs). They are therefore two-faced: they offer free trade to members but (implicitly) protection against nonmembers. The economics of PTAs is therefore far more complex than that of genuinely nondiscriminatory free trade. Indeed, the economics of PTAs leaves them open to serious reservations, bringing into doubt the wisdom of recent U.S. trade policy.

Since the early 1980s, FTAs have rapidly proliferated, and U.S. trade policy now embraces them energetically. This is evident from the current administration's (and indeed the Bush administration's) desire to extend the North American Free Trade Agreement (NAFTA) to Chile and beyond, and from the occasional high-level expressions of interest in turning the Asia-Pacific Economic Cooperation (APEC) into yet another FTA.

The Effects of Credit Policies on U.S. Agriculture
By Peter J. Barry
AEI Press September 1995
ISBN 0844739057
113 pages

This book is a study of the past performance of and future outlook for public credit programs for agriculture. The author is professor of agricultural economics at the University of Illinois. A summary of the book follows.

Public credit programs and financial policies have long played a significant role in agricultural finance. These programs have sought to fill gaps in agricultural lending, especially for farm real estate; to add market liquidity; and to target funds to higher-risk borrowers with good prospects who are unable to obtain financing from commercial lenders. This book examines the historical operations of farm financial policy in the United States and explores the general implications of this history for the role of public credit in a diverse agricultural sector.

The End of North Korea
By Nicholas Eberstadt
AEI Press September 1999
ISBN 084474087X
175 pages

As the twentieth century draws to a close, it is apparent that the Democratic People's Republic of Korea (DPRK)-which has exemplified so many of the tragic, destructive, and ultimately unworkable political tendencies of our era-is itself a colossal failure. In fact, its failure is so pervasive, so deep, and so apparently irremediable that we may now begin to speak of, and to contemplate, the end of North Korea. This book does just that. The author considers the history, the present dire circumstances, and the current options of the DPRK. He also assesses the risks that North Korea poses to its neighbors and to international stability and suggests ways in which concerned governments might begin to think about the collapse of the DPRK and how to respond. This summary is drawn from the book's introduction.

Nicholas Eberstadt is a visiting scholar at AEI and at the Harvard Center for Population and Development Studies. His previous books include The Tyranny of Numbers: Mismeasurement and Misrule (1995) and Korea Approaches Reunification (1995).

The End of Racism: Principles for a Multiracial Society
By Dinesh D'Souza
Touchstone Books September 1996
ISBN 0684825244
724 pages

This book is an inquiry into the history, nature, and ultimate meaning of racism in modern America. The author is the John M. Olin Research Fellow at AEI. A summary of the book follows.
The affirmative action dilemma in the United States arises out of a conflict between two important social goals: equality of rights for individuals and equality of results for groups. The first, which Martin Luther King articulated when he called for us to be judged by our character rather than skin color, is probably the most widely shared tenet of the American political creed. But if we wish to live in a pluralistic and inclusive nation, we will have to strive to avoid a social system in which some groups are durably ensconced at the top while others remain at the bottom; we cannot be indifferent to concerns about group equality.

The Ethics of Human Cloning
By Leon R. Kass and James Q. Wilson
AEI Press 1st edition (June 1, 1998)
ISBN 0844740500
122 pages

If human cloning becomes a practical reality, is it a reality we humans should countenance? Should human cloning be left to individual choice and discovery, regulated (for example, limited to married couples or infertile married couples), or banned outright? Leon R. Kass and James Q. Wilson arrive at different answers to these questions, on the basis of different assessments of the ethical implications of cloning for human sexuality and the traditional family. This volume includes two essays by each author-a main essay and a second one responding to the other.

Mr. Kass is the Addie Clark Harding Professor in the Committee on Social Thought and the College of the University of Chicago and an AEI adjunct scholar. Mr. Wilson is the James A. Collins Professor of Management and Public Policy Emeritus at the University of California, Los Angeles, and chairman of AEI's Council of Academic Advisers.

The Failure of Antitrust and Regulation to Establish Competition in Long-Distance Telephone Services
by Paul W. MacAvoy
AEI Press June 1996
ISBN 0844740616

This book examines the effect of regulation on competition in long-distance telephone markets after the 1984 breakup of the Bell System. Thus, it is a useful guide to the thinking of the leaders in the industry, Congress, and the state regulatory commissions on how far to proceed in relying on regulatory agencies to establish competition in key public utility markets. The author is the Williams Brothers Professor of Management Studies at the Yale School of Management and former economic adviser to Presidents Ford and Bush.

With the antitrust decree breaking up the Bell System in 1984, the federal court overseeing the final court judgment took on the task of determining how markets for long-distance telephone service would evolve from a regulated public utility to an open, competitive structure. Dividing out this task, the Justice Department was to monitor the growth of competition, and the Federal Communications Commission was to regulate entry and prices. In effect, three regulatory organizations, including the antitrust court, through daily rulemaking, were to set out conditions that would replace regulation redundant with markets dominated by competitive entry and pricing.

The Feminist Dilemma: When Success Is Not Enough
By Diana Furchtgott-Roth and Christine Stolba
AEI Press 1st edition (December 2001)
ISBN 0844741299
200 pages

The achievement of women's equality poses a serious dilemma for contemporary feminists, because it marks the end of the movement's reason for existence. Thus, rather than celebrate victory, today's feminists feign defeat. This book explains how the contemporary feminists' ideological campaign in the courts and in Congress is undermining the principles of our economic system-and how those efforts actually do not help women's progress.
Diana Furchtgott-Roth was a resident fellow at AEI from 1993 to 2001. Christine Stolba is a senior fellow with the Independent Women's Forum and an adjunct scholar of AEI. Furchtgott-Roth and Stolba previously coauthored Women's Figures: An Illustrated Guide to the Economic Progress of Women in America (AEI Press, 1999). The following summary of The Feminist Dilemma is adapted from the first chapter of the book.

The First Measured Century: An Illustrated Guide to Trends in America, 1900-2000
By Theodore Caplow, Louis Hicks, and Ben J. Wattenberg
AEI Press 1st edition (November 20, 2000)
ISBN 0844741388
308 pages

The First Measured Century is a comprehensive overview of twentieth-century America. A unique feature of the book is its presentation of key trends through more than two hundred charts with explanatory text. A companion reference volume to a PBS documentary of the same name, The First Measured Century examines one hundred years of data on diverse aspects of American life, including population, work, education, family, living arrangements, religion, active leisure, health, money, politics, government, crime, transportation, business, and communications.

Theodore Caplow is the Commonwealth Professor of Sociology at the University of Virginia. Louis Hicks is an associate professor of sociology at St. Mary's College of Maryland. Ben J. Wattenberg is a senior fellow at AEI.

Powered by massive immigration, a midcentury "baby boom," and a dramatic increase in life expectancy, the American population nearly quadrupled from 76 million in 1900 to 275 million in 2000.

The Fiscal Revolution in America, Policy in Pursuit of Reality
By Herbert Stein
AEI Press 2nd Revision edition (January 1996)
ISBN 0844739367
636 pages

This book, a classic study of fiscal policy from the administration of Herbert Hoover to that of Lyndon Johnson, has now been augmented by a new essay covering the period from 1964 to 1994. The author is a senior fellow at AEI. A summary of the book, by Mr. Stein, follows.

In 1929 there was no doubt that balancing the budget was the fiscal policy of the United States. There had been deficits in wartime and some other years when the mark had been missed, but the misses had been small, and the debts incurred in wartime had been subsequently reduced. In 1929 not only was the budget in balance, but there was provision for annual reduction of the debt left from the world war.

The Foreign Investment Debate: Opening Markets Abroad or Closing Markets at Home?
Edited by Cynthia A. Beltz
AEI Press August 1995
ISBN0844738875
136 pages

From R&D policy to deregulation of the telecommunications and financial service sectors, there is a growing movement to use foreign investors in the United States as a tool to open markets abroad. This volume brings together for the first time leaders from the business, research, and policy communities to examine whether this shift away from an open door makes economic sense. It also includes a statistical appendix on the economic role of foreign investment, a review of policy trends, and a listing of existing investment obligations and multilateral mechanisms. The editor is a research fellow at AEI. A summary of the book follows.

Transnational investment flows increasingly drive economic growth and serve as the primary means for supplying a foreign market. Over the past decade, for example, annual foreign direct investment (FDI) outflows have increased twice as fast as has world trade. Yet, unlike trade, few multilateral rules on investment exist. Breaking down the barriers to transnational investment flows thus represents the next major step for expanding the global trading system. But there is a growing debate over how this should be accomplished.

The GAAP Gap: Corporate Disclosure in the Internet Age
By Robert E. Litan and Peter J. Wallison
AEI Press (November 2000
ISBN 0844741477
96 pages

Today's knowledge-based economy requires a new framework for corporate disclosure. The authors of this book envision an entirely new system of assessing the value of companies-a system tapping the vast communication capabilities of the Internet. Corporate financial reporting would become forward-looking, would be based on precise, comparable measures, and would be presented in real time.

Robert E. Litan directs the economic studies program and holds Cabot Family Chair in Economics at the Brookings Institution. He is also the codirector of the AEI-Brookings Joint Center for Regulatory Studies. Peter J. Wallison is a resident fellow at the American Enterprise Institute and codirector of AEI's project on financial market deregulation.

The Generally Accepted Accounting Principles (GAAP) in use today evolved out of an accounting system designed to measure and report the value of companies that used tangible assets-such as rolling stock, machinery, or land-to manufacture goods or provide services. In that system, the cost of the assets used in the production of income was the foundation of the values recorded on the balance sheet. That made sense because the cost of those assets was their value-they could be duplicated in most cases for the amount at which they were carried on the company's balance sheet. Moreover, the depreciation of those assets over time allowed costs to be allocated to revenues in order to provide a more accurate measure of profitability.

The Germans: Portrait of a New Nation
Edited by Jeffrey Gedmin

This book, a companion volume to the PBS television documentary of the same name, is an in-depth look at how unification has affected Germany's people. The bilingual book includes interviews with German families and commentary by leading public officials, including an exclusive interview with German Chancellor Helmut Kohl. The editor is a research fellow at AEI. A summary of the book and excerpts from key interviews follow.

No Western country has felt more immediately the impact of the end of the cold war than Germany. For forty years Germany was divided between East and West, and the border between them was the focus of a nuclear standoff. Today Germany stands at the center of a new and changing Europe. In the West, it has become the most influential member of the European Union. In the East, it is the biggest investor in, contributor of aid to, and a leading trading partner with the former Soviet bloc.

The Illustrated Guide To The American Economy
By Herbert Stein and Murray Foss
AEI Press 3rd Revision edition (January 2000)
ISBN 0844741035
285 pages

This book consists of more than 120 factual statements-each illustrated by a page of color charts and explained in a page of text-that provide a broad picture of the U.S. economy. The following summary is meant to convey the scope and the major themes of the book.

Herbert Stein, a former chairman of the President's Council of Economic Advisers, had long been a senior fellow at AEI before his death in September 1999. His other books available from the AEI Press include What I Think: Essays on Economics, Politics, and Life (1998); On the Other Hand: Essays on Economics, Economists, and Politics (1995); and Presidential Economics: The Making of Economic Policy from Roosevelt to Clinton (revised edition, 1994). Murray Foss, who was the senior staff economist in charge of forecasting for the Council of Economic Advisers, is a visiting scholar at AEI.

Our best overall measure for gauging economies of different sizes is the per capita gross domestic product-the sum of the total output of goods and services produced within the borders of a country, divided by the population. Total output per capita is significantly higher in the United States than in other large "rich" countries. Comparisons for 1998 based on the purchasing power of different local currencies-rather than exchange rates-show that the per capita GDP of the United States was 15 percent above Switzerland's, 25 percent above Canada's and Japan's, and 33 percent above Germany's. For both Sweden and the United Kingdom, the margin was 43 percent or more.

The Imperative of American Leadership: A Challenge to Neo-Isolationism
By Joshua Muravchik
AEI Press arch 1996
ISBN 0844739588
273 pages

This book presents the case for an active, interventionist American foreign policy in the post-cold war era. The author is a resident scholar at AEI. A summary of the book follows.

This book is an argument. It is an argument for a certain kind of U.S. foreign policy now that the cold war is behind us. It is an argument for a foreign policy that is engaged, proactive, interventionist, and expensive--as compared with what others would do.

This argument flies in the face of the shibboleth that America cannot be the world's policeman. In truth, it must be more than that. A policeman gets his assignments from higher authority. But in the community of nations, there is no higher authority. America is the wealthiest, mightiest, and most respected nation. At times, it must be the policeman or head of the posse--at others, the mediator, teacher, or benefactor. In short, America must accept the role of world's leader.

The Joy of Freedom: An Economist's Odyssey
By David R. Henderson
Financial Times Prentice Hall1st edition (September 24, 2001)
ISBN 0130621129
384 pages

In The Joy of Freedom: An Economist's Odyssey, David R. Henderson demonstrates the power of free markets to improve the environment, education, health, community, culture, and every other important aspect of life.

Henderson is a research fellow with the Hoover Institution and an adjunct scholar of AEI. This summary is adapted from the preface to The Joy of Freedom.

No one I know of who believes in freedom has written a book that makes the case for freedom in a personal way. Yet the vast majority of people respond to messages that have a personal touch. We love stories about how people learned various things from their life experiences. I notice this in the classes I teach, the speeches I give, and the articles I write. People often remember a larger principle or concept by relating it to the story told that illustrates it. People also love to observe conflict; they like to see physical or verbal battles between good and evil in which good triumphs, or at least gets the last word. I believe that the market is due, indeed overdue, for a book that contains dramatic personal stories and stories about conflict whose message celebrates freedom. The Joy of Freedom: An Economist's Odyssey is that book.

The Marriage Problem: How Our Culture Has Weakened Families
By James Q. Wilson
HarperCollins Mrch 19, 2002
ISBN 0066209838
288 pages

Once a reliable thread in our social fabric, marriage is now a convenient promise easily made and just as easily broken. Long taken for granted, it is now under attack, and the result is devastating. This book exposes the patterns that have allowed us to degrade marriage and shows how we can reclaim it.

James Q. Wilson is the chairman of AEI's Council of Academic Advisers and was formerly a professor at Harvard University and the University of California at Los Angeles. His books include On Character (AEI Press, expanded edition 1995) and, with Leon R. Kass, The Ethics of Human Cloning (AEI Press, 1996). A summary of The Marriage Problem: How Our Culture Has Weakened Families follows.

Everyone knows and almost everyone regrets the difficulties into which marriage has fallen in the United States. Single-parent families hurt children, even after the effect of low income is taken into account. Divorces hurt many children, even after the predivorce family conflict is considered. Children born to a cohabiting couple are generally worse off than those born to a married couple.

Tocqueville on American Character
By Michael A. Ledeen

In this book, Michael A. Ledeen discusses the portrait of the American people found in Alexis de Tocqueville's two-volume classic, Democracy in America (vol. 1, 1835; vol. 2, 1840). Tocqueville saw the United States as the bellwether of a grand historical trend toward equality. Although he greatly admired the energy and fortitude of the Americans he observed in the Jacksonian Era, he feared that Americans might eventually give in to selfishness, materialism, and dependence on government.

Mr. Ledeen holds the Freedom Chair at AEI. His recent books include Machiavelli on Modern Leadership (1999) and Freedom Betrayed: How America Led a Global Democratic Revolution, Won the Cold War, and Walked Away (1996).

No one before Alexis de Tocqueville or since has understood us as well as he has, and no one can be considered well-educated without having grappled with Tocqueville's profound inquiry into American character. Tocqueville knew that the destiny of half the world would one day depend upon America, and it behooves everyone affected by that development-Americans and foreigners, friends and foes-to listen closely to him.

The Neoconservative Imagination: Essays in Honor of Irving Kristol
Edited by Christopher DeMuth and William Kristol
AEI Press March 1995
ISBN 0844738999
249 pages

The essays in this volume were written by Irving Kristol's friends and intellectual compatriots for his seventy-fifth birthday, January 22, 1995. The book also includes a collection of passages from Kristol's writings and a bibliography of his published work through the end of 1994. Christopher DeMuth is the president of AEI; William Kristol is the chairman of the Project for the Republican Future. A summary of the book follows.

Since his first published essay more than fifty years ago, Irving Kristol has written with rare insight and prescience on topics ranging from politics to literature and from economics to religion, while editing several of the most influential intellectual journals of our time and serving as mentor and career shaper to hundreds of journalists, intellectuals, and academics. What is most striking about Kristol, however, is not that he is an effective generalist in an age of specialists but that his wide-ranging work exhibits strong intellectual unity; he not only crosses but combines disparate fields of inquiry and does so in a way that deepens our understanding of each field.

The New Finance: Regulation and Financial Stability
By Franklin R. Edwards
AEI Press; ; (October 1996)
ISBN 084473988X
221 pages

This book describes revolutionary developments in American finance and proposes regulatory reforms aimed at strengthening the stability of financial markets and reducing the need for government support and oversight of financial institutions.

The author is the Arthur F. Burns Professor of Free and Competitive Enterprise at the Graduate School of Business of Columbia University.

Dramatic changes in information and telecommunications technologies have transformed U.S. financial markets in the 1980s and 1990s. Traditional financial intermediaries, such as banks, have had to change what they do and how they do it in response to a steady stream of new financial products and instruments that have crumpled the competitive barriers that historically separated financial institutions in the United States.

The New Illustrated Guide to the American Economy
by Herbert Stein and Murray Foss
AEI Press 2nd edition (July 1995)
ISBN 0844738956
294 pages

This book consists of 120 basic factual statements about the American economy, each illustrated by a page of four-color charts and explained in a page of text. The colored charts, which are a distinctive feature of the book, unfortunately cannot be reproduced here. The scope of the book and the picture of the U.S. economy that emerges from it are suggested by the following excerpts from the text. Mr. Stein is a senior fellow, and Mr. Foss is a visiting scholar, at AEI.

Total output in the United States has increased greatly from generation to generation. Total output per capita is the best available single measure of the performance of an economy. It limits how much its population can consume, how much they can devote to investment to increase consumption in the future, and how much they can devote to defense of the country.

The Permanent Campaign and Its Future
Edited by Norman J. Ornstein and Thomas E. Mann
The AEI Press June 15, 2000
ISBN 0844741337
250 pages

In this book, eleven prominent political scientists aim to make sense of the permanent campaign, to understand how and why it has evolved, to weigh its consequences for our ability to govern ourselves effectively, and to consider whether steps might be taken to ameliorate its more damaging effects. In publishing these essays, they seek to make a substantive contribution to understanding this critically important feature of contemporary American politics.

This work is part of AEI's Transition to Governing Project, which is run in conjunction with the Brookings Institution and Hoover Institution and generously funded by the Pew Charitable Trusts. The project directors-Norman J. Ornstein, a resident scholar at AEI, and Thomas E. Mann, the W. Averell Harriman Senior Fellow in American Governance at the Brookings Institution-edited the volume and wrote its concluding chapter, from which this summary is largely drawn.

The other contributors are Karlyn Bowman, a resident fellow at AEI; David Brady, the McCoy Professor of Political Science at Stanford University; Anthony Corrado, an associate professor of government at Colby College; Morris Fiorina, a professor of political science and a senior fellow of the Hoover Institution at Stanford University; Hugh Heclo, the Clarence J. Robinson Professor of Public Affairs at George Mason University; Stephen Hess, a senior fellow at the Brookings Institution; Charles O. Jones, the Hawkins Professor of Political Science Emeritus at the University of WisconsinÿMadison and a nonresident senior fellow at the Brookings Institution; Burdett A. Loomis, professor of political science at the University of Kansas; and Kathryn Dunn Tenpas, associate director of the University of Pennsylvania's Washington Semester Program.

We live in the era of the permanent campaign, in which the line between campaigning and governing has been nearly erased. As Hugh Heclo makes clear in the opening chapter, even if campaigning and governing are inextricably interlinked in American-style democracy, the process is distinctly different now from what it was some decades ago. Sidney Blumenthal popularized the term permanent campaign in 1982, but the change in governing style goes back further. Systematic and sophisticated polling in presidential campaigns nearly reached its full bloom in 1960, but the process of tracking public views, or of politicians garnering support from the public for their priorities, is not what we mean by the permanent campaign. Rather, we mean, as Heclo suggests, "a nonstop process seeking to manipulate sources of public approval to engage in the act of governing itself." In this era of the permanent campaign, the process of campaigning and the process of governing have each lost their distinctiveness. Just as significant, the process of campaigning has become in many ways the dominant partner of the two.

The Productivity of Health Care and Pharmaceuticals: An International Comparison
By H. E. Frech III and Richard D. Miller Jr.
AEI Press February 1, 1999
ISBN 0844771244
108

Among wealthy countries, levels of pharmaceutical consumption vary widely. Does greater consumption contribute to better health? If so, can that effect be measured? Answers to those questions would be valuable to policymakers in the health care industry and in government, but the questions are difficult to address. To begin with, analysts must distinguish the health benefits of drug consumption from the benefits of all other forms of health care. The authors of this book undertake that task and analyze data from a sample of twenty-one countries to isolate and measure the health effects of pharmaceutical consumption. Their results show that the use of pharmaceuticals leads to significantly longer lives, especially for those at middle age and beyond.

H. E. Frech III is a professor of economics at the University of California, Santa Barbara, and an adjunct scholar of AEI. Richard D. Miller Jr. is a research analyst with the Center for Naval Analyses in Alexandria, Virginia.

Many international studies of health care are available, especially in the member-countries of the Organization for Economic Cooperation and Development (OECD). Most of those studies have responded to cost-containment problems, and therefore the vast majority have focused on the determinants of health care expenditures.

The Rage and the Pride
By Oriana Fallaci
Rizzoli ctober 2002
ISBN 0847825043
168 pages

With The Rage and the Pride, Oriana Fallaci breaks a silence that has lasted for ten years. She breaks it in the wake of the apocalypse that, on the morning of September 11 2001, not far from her home in Manhattan, disintegrated the Twin Towers and incinerated thousands of people.

This edition is enriched by a dramatic preface in which Oriana Fallaci explains how the book was born and, considering the reasons why Islamic terrorism will not end with the defeat of the Taliban in Afghanistan, describes the global reality of the Jihad: the Holy War. A preface in which Oriana Fallaci takes us by surprise, talking also about herself: about her work, about her disdainful isolation, about her rigorous and hard choices.

Often slipping into personal memories, enlightening episodes of her life, she talks about the themes related to September 11, 2001: America, Europe, Italy, the West, the Islamic world, the Christian world, us. Above all, us. With her well-known courage she launches pitiless accusations and furious invectives. With her brutal sincerity she hurls the lucid ideas and the passions, the uncomfortable truths and the reflections, the ideas that almost all of us have but do not dare to say, or don't dare to say at loud voice.

The Right Man
The Surprise Presidency of George W. Bush
By David Frum
Random House 1st edition (January 7, 2003)
ISBN 0375509038
384 pages

The Right Man is the first inside account of a historic year in the Bush White House, by the presidential speechwriter credited with the phrase axis of evil. David Frum helped make international headlines when President George W. Bush's 2002 State of the Union address linked international terrorists to Iran, Iraq, and North Korea. But that was only one moment during a crucial time in American history, when a president, an administration, and a country were transformed.

Frum worked with President Bush in the Oval Office, traveled with him aboard Air Force One, and studied him closely at meetings and events. He describes how Bush thinks--what this conservative president believes about religion, race, the environment, Jews, Muslims, and America's future. Frum takes us behind the scenes of one of the most secretive administrations in recent history, with revealing portraits of Karl Rove, Karen Hughes, Condoleezza Rice, and many others. Most significant, he tells the story of the transformation of George W. Bush: how a president whose administration began in uncertainty became one of the most decisive, successful, and popular leaders of our time.

The Search for New Vaccines: The Effects of the Vaccines for Children Program
By Henry Grabowski and John Vernon
AEI Press November 1997
ISBN 0844740330
100 pages

This book examines the potential effect of the federal government's Vaccines for Children Program on incentives to invest in research and development for new and improved vaccines.

Henry Grabowski is professor of economics and director of the Program in Pharmaceuticals and Health Economics at Duke University. John Vernon is professor of economics at Duke University.

Our government has traditionally provided free vaccination for the poor and near poor and has imposed vaccination requirements to prevent the spread of infectious diseases. The Vaccines for Children Program (VFC), which went into effect in October 1994, has the potential to expand vastly the public market for pediatric vaccines. This book focuses on how increased government purchases for vaccines at below-market prices under the VFC will affect the incentives to invest in new and improved children's vaccines.

The Tyranny of Numbers: Mismeasurement and Misrule
By Nicholas N. Eberstadt
AEI Press September 1995
ISBN 084473764X
327 pages

This book is a study of the use and misuse of statistics by governments responding to such problems as world hunger, infant mortality, third world debt, and population growth. The author is a visiting scholar at AEI and a visiting fellow at the Center for Population Studies, Harvard University. A summary of the book follows.

Most of us probably regard the official statistics that governments nowadays continuously collect as dull but essentially harmless. The data that modern governments amass may well appear to be dull, but they are not essentially harmless. To the contrary: ordinary people around the world routinely suffer injury when these selfsame dull statistics are used to determine policy. On more than a few occasions, these injuries have been grave and irreversible, and they have afflicted large numbers of people.

The U.S. Organ Procurement System: A Prescription for Reform
By David L. Kaserman and A. H. Barnett
AEI Press March 2002
ISBN 084474171X
177 pages

The organ procurement system in the United States has failed patients awaiting transplants, as evidenced by years-long waiting lists, with many patients declining in health or dying before a suitable organ donor is found. The cadaveric organ shortage can be remedied by allowing for organ purchases and sales, to encourage families of the deceased to donate the organs.

Study of Revenge: The First World Trade Center Attack and Saddam Hussein's War against America
By Laurie Mylroie (foreword by R. James Woolsey)
HarperCollins 2nd Revision edition (November 15, 2001)
ISBN 006009771X
352 pages

In Study of Revenge, Laurie Mylroie engages the reader in a gripping examination of the evidence from the first World Trade Center attack in 1993. In the process, she uncovers links between the bombing and the Iraqi leadership and reveals a terrifying tale of America left exposed and vulnerable following the mishandling of what had been the most ambitious terrorist attack ever attempted on U.S. soil. In his foreword to the revised edition, former CIA director R. James Woolsey explains the relevance of Mylroie's work to the events of September 11, 2001.

Mylroie is an AEI adjunct fellow and is the coauthor, with Judith Miller, of the New York Times number-one bestseller Saddam Hussein and the Crisis in the Gulf. She has taught at Harvard University and the U.S. Naval War College and is the publisher of Iraq News, an online newsletter that analyzes developments in the continuing U.S. confrontation with Baghdad. This summary is adapted from Mylroie's introduction and conclusion to Study of Revenge.

In May 1994, the first group of conspirators convicted for the February 1993 World Trade Center bombing was sentenced. The defendants' goal-according to Judge Kevin Duffy-was to topple the north tower onto the south tower amid a cloud of cyanide gas that would engulf those trapped in the north tower. "That's clearly what you intended," the judge said. "If that had happened, we would have been dealing with tens of thousands of deaths."

The Emergence of Russian Foreign Policy
Edited by Leon Aron and Kenneth M. Jensen
Crown Business NY, Random House, 2001
ISBN 0-609-60966-1
269 pages

This book contains ten essays by American and Russian experts on the development of Russian foreign policy since the breakup of the Soviet Union. Mr. Aron is the E. L. Wiegand Fellow at AEI. Mr. Jensen is director of special programs at the United States Institute of Peace. Excerpts from Mr. Aron's introductory essay follow.

The War Against Boys: How Misguided Feminism Is Harming Our Young Men
By Christina Hoff Sommers
Touchstone Books June 2001
ISBN 0684849577
256 pages

This book refutes the widely accepted notions that American girls are being shortchanged in school and deprived of self-esteem by a society that favors boys. On the contrary, Christina Hoff Sommers shows that, by virtually every academic and social measure, boys are falling behind girls-and the gap is widening. Moreover, the social and educational struggles of boys are aggravated by a prejudice that punishes them simply for being male.
Christina Hoff Sommers is the W. H. Brady Fellow at AEI and the author of Who Stole Feminism? How Women Have Betrayed Women (1994). The following summary is adapted from her preface to The War Against Boys.
It's a bad time to be a boy in America. As the new millennium begins, the triumphant victory of our women's soccer team has come to symbolize the spirit of American girls. For boys, the symbol is the shootings at Columbine High.

To Empower People: From State to Civil Society
By Peter L. Berger and Richard John Neuhaus
edited by Michael Novak
AEI Press 2nd edition (February 1996)
ISBN 0844739448
244 pages

In 1977, AEI published a now-famous essay by Peter L. Berger and Richard John Neuhaus that examined the crucial importance of such "mediating structures" as family, church, and neighborhood to a healthy civil society. This new edition contains the original text of that essay, eleven new essays by distinguished social scientists that assess what has happened since, and a response by the original authors to the new essays. Mr. Berger is professor of sociology at Boston University. Mr. Neuhaus is president of the Institute on Religion and Public Life. Mr. Novak is the George Frederick Jewett Scholar in Religion, Philosophy, and Public Policy at AEI. Excerpts from Mr. Novak's introduction follow.

The new and fruitful public policy approaches for the future, Peter Berger and Richard Neuhaus dared to suggest in 1977, do not lie in pursuing the lines of attack long beloved of both liberals and conservatives. They lie in taking up a fresh starting place and heading in a different direction.

Tocqueville on American Character
By Michael A. Ledeen

In this book, Michael A. Ledeen discusses the portrait of the American people found in Alexis de Tocqueville's two-volume classic, Democracy in America (vol. 1, 1835; vol. 2, 1840). Tocqueville saw the United States as the bellwether of a grand historical trend toward equality. Although he greatly admired the energy and fortitude of the Americans he observed in the Jacksonian Era, he feared that Americans might eventually give in to selfishness, materialism, and dependence on government.

Mr. Ledeen holds the Freedom Chair at AEI. His recent books include Machiavelli on Modern Leadership (1999) and Freedom Betrayed: How America Led a Global Democratic Revolution, Won the Cold War, and Walked Away (1996).

No one before Alexis de Tocqueville or since has understood us as well as he has, and no one can be considered well-educated without having grappled with Tocqueville's profound inquiry into American character. Tocqueville knew that the destiny of half the world would one day depend upon America, and it behooves everyone affected by that development-Americans and foreigners, friends and foes-to listen closely to him.

Toward a More Perfect Union: Writings of Herbert J. Storing
Edited by Joseph M. Bessette
AEI Press March 1995
ISBN 0844738417
469 pages

This volume brings together the major writings of Herbert J. Storing (1928-1977), one of America's most thoughtful students of constitutional theory and public administration. Included are essays on such topics as the American founding, race relations in America, rights and the public interest, bureaucracy and big government, and statesmanship. The editor is the Alice Tweed Tuohy Associate Professor of Government and Ethics at Claremont McKenna College. Excerpts from the editor's introduction follow.

Of the twenty-four selections included here, fourteen were originally published as separate essays. In the present volume they are joined by ten other writings, five of which have not been published before. In any project of this sort, space limitations dictate that judgments must be made about what to include and exclude. The purpose here has been to bring together Herbert J. Storing's major essays, excerpts from longer works, and significant unpublished writings across the range of issues that focused his scholarship (and teaching) during his highly productive, though unfortunately truncated, academic career.

Trade and Security: U.S. Policies at Cross-Purposes
By Henry R. Nau
AEI Press September 1995
ISBN 0844770388
121 pages

This book is a critical analysis of recent trends in U.S. international trade policy that undercut U.S. security objectives and run counter to broader U.S. gains in economic competitiveness. The author is professor of political science and international affairs at George Washington University. A summary of the book follows.

From the earliest months of his presidency, Bill Clinton staked a large part of his foreign and domestic economic strategy on U.S. trade policy. Now, as the president begins his campaign for reelection, that policy is in serious trouble.

When Clinton came into office, he set five broad trade policy goals: (1) to pursue a more aggressive strategy of geo-economic warfare with America's allies, especially Japan and the European Union; (2) to shift the emphasis of U.S. trade policy toward the rapidly growing markets of Asia; (3) to complete the North American Free Trade Agreement (NAFTA) and the Uruguay Round negotiations of the General Agreement on Tariffs and Trade (GATT); (4) to launch a national export strategy in emerging markets such as China, Indonesia, Argentina, Poland, and South Africa; and (5) to convert America's traditional Pentagon-based, defense-oriented industrial and technology policy into a civilian-oriented Advanced Technology Program based in the Commerce Department.

Transition Costs of Fundamental Tax Reform
Edited by Kevin A. Hassett and R. Glenn Hubbard
AEI Press March 2001
ISBN 0844741124
150 pages

The authors of this volume challenge the common perception that the removal of old distortions from the tax system would seriously harm segments of the economy. The three essays, each of which is followed by a commentary, discuss the understatement of benefits from fundamental reform, the perniciousness of the current tax system, the distribution of benefits from reform, and the effects of reform on the housing market and on stock prices.

Kevin A. Hassett is a resident scholar at AEI. R. Glenn Hubbard is a visiting scholar at AEI and the Russell L. Carson Professor of Economics and Finance at Columbia University; President Bush has nominated him to be chairman of the Council of Economic Advisers. The authors of the essays are Donald Bruce of the Center for Business and Economic Research at the University of Tennessee, Kenneth L. Judd of the Hoover Institution, Douglas Holtz-Eakin of Syracuse University, Andrew B. Lyon of the University of Maryland, and Peter R. Merrill of PricewaterhouseCoopers. The commentators are Alan J. Auerbach of the University of California, Berkeley; William G. Gale of the Brookings Institution; and James R. Hines of the University of Michigan. This summary is adapted from the editors' introduction to the volume.

The Tax Reform Act of 1986 was a sweeping reform that lowered marginal tax rates and broadened the tax base. Although many economists felt that the law, given its broad bipartisan support and sound economic underpinnings, would stand for many years, events soon proved them incorrect. Significant increases in marginal tax rates were passed in 1990 and 1993; subsequent reforms have narrowed the tax base and have increased effective marginal rates in a particularly crazy hodgepodge. The tax system is now probably further from the economic ideal than in 1985, and economists are again calculating and debating the potential gains to the economy from another fundamental tax reform.

Transmission Pricing and Stranded Costs in the Electric Power Industry
By William J. Baumol and J. Gregory Sidak
American Enterprise Institute September 1995
ISBN 0844739227
180 pages

Telecommunications Competition: The Last Ten Miles
By Ingo Vogelsang and Bridger M. Mitchell
AEI Press March 1997
ISBN 0844740659

This book analyzes the effects of dramatic technological, regulatory, and market changes on competition in the last ten miles of the telephone network--the most pivotal issue raised by the Telecommunications Act of 1996.

Ingo Vogelsang is professor of economics at Boston University. Bridger M. Mitchell is a vice president of Charles River Associates.

Local competition today appears as contentious as long-distance competition was in the early 1970s. And whereas in the 1970s AT&T faced competition mainly from what was then a tiny s