Conventional wisdom says that Europe's crisis is a financial crisis. But is this really the case? In Industrial Poverty, economist Sven R. Larson, challenges this view and suggests instead that Europe is in a state of permanent economic decline. Using Sweden in the 1990s as an example. 'Larson's book shows that the United States will have a very grim fiscal future if lawmakers don't reform entitlements and avoid the mistakes of Europe's failed welfare states.' Dan Mitchell, Cato Institute, USA 'Dr Larson's book title should send a chill up the spine of policymakers all over the world. Industrial Poverty explains how preservation of the welfare state and its culture of dependence is setting the stage for the world to become poorer for everyone. While there is still room to debate details, Dr Larson's shot across the bow must be heeded to rebuild policies that lead to growing prosperity.' Byron Schlomach, Director of Center for Economic Prosperity at the Goldwater Institute, USA