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Comeback by Charles R. Morris

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Introduction

I wrote a book called The Coming Global Boom, released in 1990, that pointed to the very bright prospects for the new decade—higher productivity, falling interest rates, an expanding finance and trading sector, and a recovery of leadership in computer technology. This was a very gloomy period, much like now. Good economists like Stephen Marris and C. Fred Bergsten at the International Economic Institute in Washington worried that the government’s persistent deficits were about to ignite a worldwide recession. The economist/novelist Paul Erdman had a string of best sellers with names like The Panic of’89.

As a corporate banker and a business consultant, I was in and around a lot of different companies. I began to notice that most ...

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