In material terms at least, the panorama of American progress is stupendous. Poverty, racial injustice and crime rebuke American affluence, but it verges on fantasy to call the U.S. a failed society. No other nation has ever remotely matched the U.S. in both human and material resources. The American problem is almost purely one of logistics and priorities: how to use these resources far more wisely.
In the past ten years, the growth of the American economy has far outstripped the comprehension of most individuals; even economists are at a loss for an abstract theory to explain it. But beyond dispute...
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