In this blueprint for reform, economist and financial newsletter pundit Janeway calls on Americans to mobilize the country's hidden assets, arriving at his diverse reform strategies by way of an erudite reconsideration of U.S. economic historyfrom Hamilton to Reagonomics. Some of his remedies may not be politically feasible, such as his proposal to swap U.S. food exports for oil imports, or his demand for reciprocity, whereby importers who penetrate more than 25% of a U.S. domestic market would be required to invest in productive American assets or buy our products. Likewise, his call for an injection of top-rated common stocks into Social Security trust funds may raise howls of protest. Janeway also offers maverick suggestions designed to halt the flight of workers and cash into our "underground economy," a three-ring circus consisting of domestic moonlighting, the bustling Eurodollar market and illegal drug traffic.
Copyright 1989 Reed Business Information, Inc.

While explaining how the United States should "revitalize" its economy, Janeway summarizes its distinctive theoretical past (e.g., Thorstein Veblen) and its distinctive assets (e.g., agriculture, technology). He demonstrates how dependent on statistics such a huge economy is and exposes how statistics have been manipulated (his own statistics on oil contain an error). His recommended solutions: barter oil for food; contract reciprocal trade agreements with foreign countries; and allow Social Security to invest in the stock market. Another debatable assertion Janeway makes is that the United States is in the midst of a depression. Janeway misuses words, antecedents, and even cliches. He is the Howard Cosell of economics: bombastic, vain, and periphrastic. A badly written book.
- Alex Wenner, Indiana Univ. Lib., Bloomington
Copyright 1989 Reed Business Information, Inc.

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