Penn State

Charles D. Ray - associate professor of operations research, Penn State University Park

Book Title: The Way the World Works

Author: Jude Wanniski

Book Description:

Justification of the superiority of supply-side economic theory over the Keynesian demand-side (or consumer-based) and monetarist theories has been controversial since Mr. Wanniski postulated the concept in the mid-1970s. His powerful global analysis with its insights on the interactions of historical world events is a fascinating read; it raised the level of my analytical skill over time as I considered more deeply the root causes of whatever phenomenon I happened to be studying. This book left me convinced that a focus on more efficient, timely, and optimal production and delivery is the correct way to address and reduce global need. Ever since, I have dedicated my professional efforts to that end, albeit in my own modest corner of the world.

Mr. Wanniski passed away in 2005, and today we find much of the world ignorant of the way the world works, and beginning to repeat the same patterns of failed policies of the past. I hope that future readers of this book will be inspired as I was, and trust that in doing so, will ultimately share Mr. Wanniski's vision of a world made bountiful and peaceful through positive, productive leadership.

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