Bjorn Wahlroos, Chairmen of Nordea Bank AB, selects Edmund Phelps's Mass Flourishing as one of Bloomberg's Books of the Year: "[Phelps] takes off where Schumpeter and Hayek ended, to explain what it is that makes our economies modern. Against a rich and insightful historical background he draws a picture of the market institutions and social traditions that promote innovation and thus economic growth. In the process he redraws many political front lines and provides us with an answer to those who believe more public funding for investment and innovation is the road forward for our stagnant economies. It is a marvelous book that deserves to be read by everyone, but particularly by those entrusted with the design of the European future."
