Glenn Hubbard: "Balance: The Economics Of Great Powers From Ancient Rome To Modern America"

 - (Courtesy Glenn Hubbard)

(Courtesy Glenn Hubbard)

Glenn Hubbard: "Balance: The Economics Of Great Powers From Ancient Rome To Modern America"

In a new book, Glenn Hubbard asserts that economic imbalance was responsible for the collapse of the world's great powers, from the Ming dynasty to ancient Rome to imperial Spain. The noted economist talks about what he believes the U.S. must do to avoid being the next to fall.

The United States is on the road to civil collapse. At least that’s the warning from economist Glenn Hubbard. The former chair of President George W. Bush’s Council of Economic Advisors claims that America’s financial imbalance is threatening its leadership as a world power. Hubbard says other great civilizations– Rome, medieval China, nineteenth-century Britain -- collapsed under the similar circumstances. In our case, he believes a root cause is the creation of a middle-class entitlement state. He argues that without a new approach to politics, the U. S. may be next to fall. Diane talks with Glenn Hubbard about reversing America’s economic decline.

Guests

R. Glenn Hubbard

dean of the Graduate School of Business at Columbia University. Former chairman of the President's Council of Economic Advisers from 2001-2003.

Read An Excerpt

From "Balance" by Glenn Hubbard and Tim Kane. Copyright © 2013 by Glenn Hubbard and Tim Kane. Excerpted with permission of Simon & Schuster, a Division of Simon & Schuster, Inc.

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