Destined for Failure
American Prosperity in the Age of Bailouts
by Nicolás Sánchez, Christopher Kopp, and Francis Sanzari
August 2010, 224pp, 6 1/8 x 9 1/4
1 volume, Praeger

Hardcover: 978-0-313-39263-4
$95, £74, 83€, A131
eBook Available: 978-0-313-39264-1
Please contact your preferred eBook vendor for pricing.

The list is long: health care, the collapsed housing market, government over-regulation, the education crisis, unionized workforces, and the crippling cost of U.S. foreign policy. All of these factors are hampering the American economy, and there are no imminent signs of improvement, despite the efforts of a new administration. What is the key to our recovery?

This book provides a historical background of the American business cycle, challenges the validity of conventional Keynesian ideology, and presents a bold, alternative theory of how production leads to wealth in our modern economy.

The United States is mired in the aftermath of booming economic prosperity, resembling the trouble recently experienced by the Japanese economy due partially to similar Keynesian bailouts and subsidies. Now more than two years into the current financial crisis, Americans are starting to wonder if we can ever escape the consequences of past mistakes. If our “recovery” plan continues along the previous paths that generated economic bubbles and unemployment, then we are destined for failure.

Destined for Failure: American Prosperity in the Age of Bailouts provides a conceptual framework previously available only to those with formal university training. It explains the effects of government regulation, political interference in the housing and job markets, misallocation of resources in health and education, moral hazard, environmental constraints, and excessive taxation. The authors provide insight into their view of Keynesian economics as an outdated, detrimental ideology, and take the Bush and Obama administrations to task for budget deficits and cronyistic subsidies and bailouts.


  • The senior author is a distinguished economist who supplemented his in-depth knowledge with contributions from two of his brightest undergraduate students
  • Seven graphical representations and three data tables highlight key information
  • Index provides the reader with easy access to specific topics throughout the text
  • More than 20 case studies apply the general theory of the book to real-world examples, each concluding with specific policy proposals
Nicolás Sánchez, PhD, is professor of economics at the College of the Holy Cross in Worcester, MA. He has served as chair of the Economics Department and director of its honors program. Sánchez has an extensive publication record in academic journals.

Christopher Kopp is a senior at the College of the Holy Cross, Worcester, MA. He is a double major in mathematics and economics, and is in both the Economics Department's and the college's honors programs.

Francis Sanzari is a senior at the College of the Holy Cross, Worcester, MA. He is a double major in political science and economics, and is in both the Economics Department's and the college's honors programs.


"This volume competently presents economic theory in policy contexts in a manner that even readers with no economic education can easily understand. Summing Up: Recommended. All readership levels."—Choice, February 1, 2011

"Views in this book may add to policy debates..."—Booklist, October 15, 2010
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