PETER L. BERNSTEIN is founder and President of Peter L. Bernstein, Inc., established in 1973 as publishers of Economics & Portfolio Strategy and consultants to institutional investors around the world. He is also the author of ten books, including three recent volumes from Wiley—Against the Gods: The Remarkable Story of Risk, The Power of Gold: The History of an Obsession, and Capital Ideas Evolving.

• Foreword by (Paul A. Samuelson). New Introduction.Original Preface.Chapter 1. The Arithmetic of Optimism.Chapter 2. The Burden of Government.Chapter 3. The Fear of Taxes.Chapter 4. The Uses of Government.Chapter 5. The Tragedy of Errors.Chapter 6. The Economics of Democracy.Statistical Appendix.Acknowledgments.Notes.Index.

PETER L. BERNSTEIN is founder and President of Peter L. Bernstein, Inc., established in 1973 as publishers of Economics & Portfolio Strategy and consultants to institutional investors around the world. He is also the author of ten books, including three recent volumes from Wiley—Against the Gods: The Remarkable Story of Risk, The Power of Gold: The History of an Obsession, and Capital Ideas Evolving.

• Foreword by (Paul A. Samuelson). New Introduction.Original Preface.Chapter 1. The Arithmetic of Optimism.Chapter 2. The Burden of Government.Chapter 3. The Fear of Taxes.Chapter 4. The Uses of Government.Chapter 5. The Tragedy of Errors.Chapter 6. The Economics of Democracy.Statistical Appendix.Acknowledgments.Notes.Index.