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The end of an economic dream

A former Clinton administration official tells a sprawling tale of global progress which was hoped for but never fully realised.

A hiring sign at a store in San Rafael, California. PHOTO: AFP
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The history of the 20th century cannot be told as a triumphal gallop, a march, or even a walk of progress towards utopia. Instead, it has been a slouch at best.

This is the provocative premise of a new book by Brad DeLong, an economics professor at the University of California Berkeley, who was a deputy assistant secretary at the US Treasury during Mr Bill Clinton's presidency.

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