Peter Thiel argues that a book published in France in 1968, Le Defi Americain (The American Challenge) has a lot to say to us in the United States in 2008 and discusses why the U.S. has failed to rise to the heights predicted by its author, J. J. Servan-Schreiber.
In explaining what's wrong with the U.S. economy, Thiel points out that, although we have benefited from growth that is both extensive (e.g., free trade) and intensive (e.g., technology), we have not featured enough of each.
He asserts that the credit crisis of 2008 has nothing to do with the failings of the free market but rather is a by-product of government entanglement, nurtured by the motors of economic growth working less well than expected- Hoover Institution
Peter M. Robinson is a research fellow at the Hoover Institution, where he writes about business and politics, edits the Hoover Institution's quarterly journal, the Hoover Digest, and hosts Hoover's television program, "Uncommon Knowledge."
Robinson is also the author of three books: How Ronald Reagan Changed My Life; It's My Party: A Republican's Messy Love Affair with the GOP; and the best-selling business book Snapshots from Hell: The Making of an MBA.
American entrepreneur, hedge fund manager, and venture capitalist. With Max Levchin, Thiel co-founded PayPal and was its CEO. He currently serves as president of Clarium Capital Management LLC, a global macro hedge fund with more than $6 billion under management, and a managing partner in The Founders Fund, a $275 million under management venture capital fund he launched with Ken Howery and Luke Nosek in 2005. He was an early investor in Facebook, the popular social-networking site, and sits on the company's Board of Directors.
American entrepreneur, hedge fund manager, and venture capitalist Peter Thiel fears a lack of faith in the free market due to "all these crazy things" that were allowed to happen will slow economic recovery and further encourage government entanglement. However, he remains optimistic.