Balance (2013 book)
| Company type | Book |
|---|---|
| Industry | Publishing |
| Founder | Tim Kane, Glenn Hubbard |
| Products | Economic history book |
Balance: The Economics of Great Powers from Ancient Rome to Modern America, commonly referred to as Balance, is a non-fiction work on economic history authored by former US intelligence officer and economist Captain Tim Kane alongside economist Glenn Hubbard. Although it provides a concise treatment of complex historical subjects, the book is often referenced in conversations about American isolationism and fiscal policy.
Summary
This volume explores how economic disparities have historically triggered the downfall of civilizations, raising concerns about whether The United States might encounter similar threats. It investigates the decline of empires such as the Ming Dynasty, Ottoman Turkey, and Imperial Spain, uncovering recurring themes in their economic, military, and political approaches.
Kane and Hubbard introduce a novel metric for evaluating economic strength that emphasizes fiscal balance, national debt levels, and government social expenditures. They critique extensive regulations affecting labor markets, commerce, and trade, pointing out the constraints evident in Japan’s growth strategy amid its aging demographic. The authors conclude by drawing parallels between contemporary America and previous declining powers, stressing the urgency of resolving what they term a "dysfunctional fiscal imbalance."
Reception
Upon publication, the book garnered a range of responses from mixed to favorable. The New York Times described its historical imperial analysis as "one-dimensional" but commended its sharp focus on internal matters as "dead-on." Meanwhile, The Financial Times characterized it as "an accessible, data-driven narrative on the collapse of great powers through the perspective of two fiscally concerned US conservatives in 2013."
The work has found resonance within political discourse and is regularly cited in socioeconomic discussions and scholarly analyses.