That , however , is the closest the author ever comes to addressing the drag that weaponized litigation has on the broader economy . Sharma is properly scathing about how pharmaceutical companies insulate themselves from competition by creating patent thickets . But nowhere does he mention the role of aggressive plaintiff attorneys in driving up the costs of health care and insurance .

There is a short third section of the book , which is interesting , but seems

bolted on . It highlights countries “ where capitalism still works .” This includes Switzerland , Taiwan and Vietnam . They are all fascinating little case studies , but also all very specialized places — economic Petri dishes for which the applicability to a geography and economy as vast and varied as the United States seems largely theoretical .

Rushir Sharma is an excellent writer with deep professional experience . He has produced a book that presents some

important iconoclastic ideas that are all the more bracing coming from a career insider . It ’ s a bit frustrating , then , that he ’ s partially hidden his light under a bushel , putting most of the good stuff in the second part of book .

Gregory DL Morris is an independent business journalist , principal of Enterprise & Industry Historic Research and an active member of the Museum ’ s editorial board .

HOW MUCH DO YOU KNOW ABOUT FINANCIAL HISTORY ?

1 . In what state was the secret meeting of bankers held that led to the creation of the Federal Reserve Bank ?

2 . What company , founded in 1946 , was the first private venture capital ( VC ) firm in the United States ?

3 . How many Canadian banks failed between 1924 to 1982 ?

4 . Who won the 1990 Nobel Prize in Economics for his pioneering work on portfolio management ?

5 . What is the nickname for the macroeconomic period , which lasted from 1965 to 1982 ?

6 . What was the first mutual fund , founded 100 years ago on March 21 , 1924 ?

7 . What senator from Vermont is most responsible for the Union ’ s successful revenue program during the Civil War ?

8 . What 1878 Act required the US Treasury to buy and circulate silver dollars to increase the money supply ?

9 . The 1973 – 1974 bear market was the second longest in the post-war period . What was the longest bear market ?

10 . What is currently the nation ’ s largest financial industry ?

1 . Georgia 2 . Advanced Research and Development ( ARD ) 3 . Zero 4 . Harry Markowitz 5 . The Great Inflation 6 . Massachusetts Investors Trust 7 . Justin Smith Morrill 8 . The Bland-Allison Act 9 . The 31-month slump between March 2000 and October 2002 10 . Mutual funds

46 FINANCIAL HISTORY | Fall 2024 | www . MoAF . org