The Paradox of Progress: Can Americans Regain Their Confidence in a Prosperous Future? - book reviews

Business Horizons, Nov-Dec, 1997 by Thomas A. Hemphill

In contrast, McKenzie foresees a rather bleak future for Americans who refuse to accept individual responsibility for their behavior. But he is an optimist who believes that the current economic transformation offers a creative environment, and that most Americans will meet the economic challenge they have been presented.

There are reasoned argument here for renewed American economic optimism. But although the present economic environment has many opportunities for enterprising individuals who are educationally and personally prepared, there are persistent disturbing trends in modern American life. The median U.S. family household income (in 1995 dollars) has pretty much stagnated around $40,000 since 1973, requiring 57 percent of all families to have two or more income earners. Americans are working longer, harder, and smarter to achieve and maintain a prosperous lifestyle. Balancing the demands of a more competitive economy with the needs of family and community is where the real challenge to future American prosperity will lie.

Richard B. McKenzie, The Paradox of Progress: Can Americans Regain Their Confidence in a Prosperous Future? New York: Oxford University Press, 1997. 244 pp.