This final work by a world-renowned economist should take its place among the classics of political economy. Why do some economies do better than others? How does society encourage the kind of market economy that generates continually increasing incomes? How do particular styles of government affect economic performance? Economist Mancur Olson tackles these questions and others in what should surely be regarded as his magnum opus. Olson contends that governments can play an essential role in the development of markets. Reliable enforcement of private contracts and protection of individual rights to property depend on governments strong enough to guarantee these rights yet constrained enough not to undermine them. His exploration of market-augmenting governments will stand as an important work on economic growth and provide a useful framework in which to consider the Asian financial crisis and its aftermath.
Power and Prosperity : Outgrowing Communist and Capitalist Dictatorships