The Land of Too Much presents a simple but powerful hypothesis that addresses three questions: Why does the United States have more poverty than any other developed country? Why did it experience an attack on state intervention starting in the 1980s, known today as the neoliberal revolution? And why did it recently suffer the greatest economic meltdown in seventy-five years?

Although the United States is often considered a liberal, laissez-faire state, Monica Prasad marshals convincing evidence to the contrary. Indeed, she argues that a strong tradition of government intervention undermined the development of a European-style welfare state. The demand-side theory of comparative political economy she develops here explains how and why this happened. Her argument begins in the late nineteenth century, when America’s explosive economic growth overwhelmed world markets, causing price declines everywhere. While European countries adopted protectionist policies in response, in the United States lower prices spurred an agrarian movement that rearranged the political landscape. The federal government instituted progressive taxation and a series of strict financial regulations that ironically resulted in more freely available credit. As European countries developed growth models focused on investment and exports, the United States developed a growth model based on consumption.

These large-scale interventions led to economic growth that met citizen needs through private credit rather than through social welfare policies. Among the outcomes have been higher poverty, a backlash against taxation and regulation, and a housing bubble fueled by “mortgage Keynesianism.” This book will launch a thousand debates.

During the five full years of his presidency (1964–1968), Lyndon Johnson initiated a breathtaking array of domestic policies and programs, including such landmarks as the Civil Rights Act, Head Start, Food Stamps, Medicare and Medicaid, the Immigration Reform Act, the Water Quality Act, the Voting Rights Act, Social Security reform, and Fair Housing. These and other “Great Society” programs reformed the federal government, reshaped intergovernmental relations, extended the federal government’s role into new public policy arenas, and redefined federally protected rights of individuals to engage in the public sphere. Indeed, to a remarkable but largely unnoticed degree,Johnson’s domestic agenda continues to shape and influence current debates on major issues such as immigration, health care, higher education funding, voting rights, and clean water, even though many of his specific policies and programs have been modified or, in some cases, dismantled since his presidency.

LBJ’s Neglected Legacy examines the domestic policy achievements of one of America’s most effective, albeit controversial, leaders. Leading contributors from the fields of history, public administration, economics, environmental engineering, sociology, and urban planning examine twelve of LBJ’s key domestic accomplishments in the areas of citizenship and immigration, social and economic policy, science and technology, and public management. Their findings illustrate the enduring legacy of Johnson’s determination and skill in taking advantage of overwhelming political support in the early years of his presidency to push through an extremely ambitious and innovative legislative agenda, and emphasize the extraordinary range and extent of LBJ’s influence on American public policy and administration.

The political and economic history of Latin America has been marked by great hopes and even greater disappointments. Despite abundant resources—and a history of productivity and wealth—in recent decades the region has fallen further and further behind developed nations, surpassed even by other developing economies in Southeast Asia and elsewhere.

In Left Behind, Sebastian Edwards explains why the nations of Latin America have failed to share in the fruits of globalization and forcefully highlights the dangers of the recent turn to economic populism in the region. He begins by detailing the many ways Latin American governments have stifled economic development over the years through excessive regulation, currency manipulation, and thoroughgoing corruption. He then turns to the neoliberal reforms of the early 1990s, which called for the elimination of deficits, lowering of trade barriers, and privatization of inefficient public enterprises—and which, Edwards argues, held the promise of freeing Latin America from the burdens of the past. Flawed implementation, however, meant the promised gains of globalization were never felt by the mass of citizens, and growing frustration with stalled progress has led to a resurgence of populism throughout the region, exemplified by the economic policies of Venezuela’sHugo Chávez. But such measures, Edwards warns, are a recipe for disaster; instead, he argues, the way forward for Latin America lies in further market reforms, more honestly pursued and fairly implemented. As an example of the promise of that approach, Edwards points to Latin America's giant, Brazil, which under the successful administration of President Luis Inácio da Silva (Lula) has finally begun to show signs of reaching its true economic potential.

As the global financial crisis has reminded us, the risks posed by failing economies extend far beyond their national borders. Putting Latin America back on a path toward sustained growth is crucial not just for the region but for the world, and Left Behind offers a clear, concise blueprint for the way forward.