4% Solution

Foreword by President George W. Bush

With contributions from world renowned economists and Nobel prizewinners, The 4% Solution is a blueprint for restoring America’s economic health
 
The United States is reaching a pivotal point in its economic history. Millions of Americans owe more on their homes than they are worth, long-term unemployment is alarmingly high, and the Congressional Budget Office is projecting a sustainable growth rate of only 2.3%—a full percentage point below the average for the past sixty years. Unless a turnaround comes quickly, the United States could be mired in debt for years to come and millions of Americans will be pushed to the sidelines of the economy.
 
The 4% Solution offers clear and unflinching ideas on how to revive America’s economy. It sets a positive economic goal and asks some of the top economic minds on how to achieve it. With a focus on removing government constraints, The 4% Solution defines the policies that will allow Americans to save, invest, and create the jobs that the United States needs.
 
The 4% Solution draws on the best minds in the business, including five Nobel laureates:
 
·         Robert E. Lucas, Jr., on the history and future of economic growth
·         Gary S. Becker on why we need immigrants in order to grow
·         Edward Prescott on the cost (to growth) of the welfare state
·         Vernon Smith on why housing leads us into and out of recessions
·         Myron Scholes on why we need to innovate in order to grow the economy