New Books Network Richard Duncan, "The Money Revolution: How to Finance the Next American Century" (John Wiley & Sons, 2022)
Oct 6, 2025
Richard Duncan, an economist and author with extensive experience in global finance, dives into the future of American economic strategy. He argues for massive government investment in technology to spark a new revolution and maintain global leadership. Duncan discusses lessons from the Federal Reserve's history, revealing how past crises shaped current policies. He highlights the inflation surge post-COVID and warns of China's rising R&D dominance. With insights from his fiscal policies and Macro Watch, Duncan advocates for a proactive economic approach to ensure the U.S. thrives.
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Learning From Asia’s Boom And Bust
- Richard Duncan lived and worked across Asia during its boom and collapse, including Thailand in the 1990s.
- He used that experience to learn firsthand about credit bubbles and the 1997-98 Asian financial crisis.
Purpose Behind The Fed’s Creation
- The Fed was created after repeated banking panics to act as a decentralized lender of last resort.
- Its purpose was to supply liquidity to viable borrowers and halt panics that destroy otherwise healthy banks.
1930s Failure And WWII Fix
- The Fed failed to act adequately in the early 1930s, allowing a banking panic to become the Great Depression.
- Massive WWII fiscal and monetary stimulus later showed that coordinated action can end deep depressions.
