I recently received a complimentary copy of Peter Gosselin's new book, High Wire: The Precarious Financial Lives of American Families. Mr. Gosselin is the national economics correspondent for the Los Angeles Times. Here is an excerpt from the book jacket:
The recent downturn seems to have brought an end to some of the strongest, smoothest growth in American history--a performance that economists found so sweet they dubbed it the "Great Moderation." Yet even in boom times, the economy was caught in a cross-current. ... [T]he cross-current was neither the product of a misapprehension nor the nation's normal ups and downs. Instead, it was the result of a quarter-century long conversion of the nation's economy from one of checks and balances to barely tempered free markets.