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By Root 1675 0

reduction and, 256; competition and, 277; Economy of Enough and, 22, 28; fairness and, 115, 133, 139, 143–44; flaunting of wealth by, 277; Gilded Age of, 144; greed and, 277–78; higher capital requirements for, 277; immorality of, 90, 277–78; interconnected network of, 277–78; interest rates and, 281, 283; lobbyists of, 87–88, 276; measurement and, 193, 200; needed policy recommendations for, 277–78; politicians and, 87–88, 286; posterity issues and, 85–91, 94, 99–102; recovery and, 3, 103; reform and, 277–79, 283, 296; regulation of, 7; runs on, 1; state–owned, 252; structural fragility of, 6; trust and, 88–89, 145–50, 158, 161–64, 174, 176, 257; values and, 211, 213, 217, 223, 226–28, 233

“Battle for Seattle” riot, 211

Baumol, William, 189–94, 206–7

BBC, 226, 247, 288

behavioral economics, 282; fairness and, 116–17, 121; rational choice theory and, 214–15. See also psychology

Bell, Daniel, 230, 235–36

Bentham, Jeremy, 31

Berlin Wall, 182, 226, 239

Bhutan, Kingdom of, 40

Biswas–Diener, Robert, 48

Blackberry phones, 205

black markets, 225

Blake, William, 27

Blinder, Alan, 133, 224

Blueprint for a Safer Planet (Stern), 29

Bono, 194–96, 308n13

bonuses: bankers and, 87–88, 115, 139, 143–44, 193, 221, 223, 277–78, 295; as essential, 88; halting of, 278; lobbyists and, 87–88; penal tax on, 278; policy recommendations for, 277–79, 295–96; reform and, 295

boom–bust cycles, 4, 277, 280, 283; fairness and, 136–37; happiness and, 22, 28; posterity and, 93, 102, 106–9; trust and, 145, 147; values and, 213, 222–23, 233

Booth, Charles, 131

Boskin Commission, 37

Bové, José, 27

Bowling Alone (Putnam), 140–41

Boyle, James, 196

Brazil, 63, 65, 123

BRICs (Brazil, Russia, India, and China), 123, 160, 164, 176–77

British National Health Service, 247

British Social Attitudes, 140–41

Bronk, Richard, 28

Brown, Gordon, 93

Brundtlandt Report, 77

bubbles, 3, 26, 223, 228, 301n1

Buchanan, James, 220, 242

Bundesbank, 99

Burry, Michael, 86

Bush, George W., 127–28

Calculus of Consent, The: Logical Foundations of Constitutional Democracy (Buchanan and Tullock), 242

call centers, 131, 133, 161

Cameron, David, 288

capitalism: China and, 234; communism and, 96, 182–83, 209–13, 218, 226, 230, 239–40; community and, 27, 51, 65, 117–18, 137, 141, 152–54; cultural effects of, 25–29, 230–38; current crisis of, 6–9; democracy and, 230–38; Engels on, 14; fairness and, 134, 137, 149; growth and, 268, 275, 290, 293, 297; happiness and, 25–29, 33, 45, 53–54; historical perspective on, 3, 6, 14; institutions and, 240; market failure and, 226–30; Marx on, 14; measurement and, 182; mercantile economy and, 27–28; nutrition and, 10; profit–oriented, 18; Protestant work ethic and, 13–14; protests against, 211–13; rethinking meaning of, 9; social effects of, 25–26; values and, 209–13, 218, 226, 230–32, 235–36; well-being and, 137–39

carbon prices, 70–71

celebrities, 33

charitable giving, 33, 141

Checkpoint Charlie, 147

China, 161, 262, 280; capitalism and, 234; carbon emissions and, 63; changed demographic structure of, 90; convergence and, 122; declining population in, 98; energy use in, 63, 65; global manufacturing and, 149; inequality and, 125–26; Mao and, 10; middle class of, 125–26; as next major power, 94; one–child policy and, 95–96; population growth and, 95–96; purchasing power parity (PPP) and, 306n19; rise in wealth of, 81, 122–23, 125, 212; savings and, 87, 94, 100, 108; wage penalties and, 133; World Bank influence and, 163

cities, 308n29; face-to-face contact and, 165–68; size and, 165–66; structural changes in, 165–70; urban clustering and, 166

City of London, 147, 221

Clemens, Michael, 81

climate change, 5–7, 17, 24, 90, 238; carbon prices and, 70–71; Copenhagen summit and, 62, 64–65, 68, 162, 292; domestic dissent and, 66–71; future and, 75–83; geological history and, 69; global warming and, 57, 64, 66, 68; greenhouse gases and, 23, 29, 35, 59, 61–63, 68, 70–71, 83; Himalayan glaciers and, 66–67; incandescent light bulbs and, 59–60; InterAcademy Council and, 66–67; Intergovernmental Panel on Climate Change (IPCC)