“Removing [Amazon, Facebook, Google, and Microsoft] from the [S&P] and adjusting for the excess cash that companies hold … reduces the current PE ratio to 16.9. This is much closer to the range typical in ‘normal’ economic times.”
Top Ten New York Times Bestselling Author
- “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
- “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
- “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
- “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
- “Unintended Consequences is full of substance, it is one of the must-read books of the year, and once I finish it I will be giving it a second read through right away.” - Tyler Cowen, Professor, George Mason University
- “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
- “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
- “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
- “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
- “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
- “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
- “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
