The start of the twenty-first century finds America in a perilous state that many consider to be a turning point in our history, one that could lead to a painful decline in living standards. According to recent polls, a majority of Americans believe that today's children will not fare better than their parents did, and many will fare worse. Such pessimism is justified. Between the slow decline of average wages and benefits since the late 1970s, and the huge overhang of consumer and public debt, there seems to be nowhere to turn for prosperity. Much attention is focused on health care, education, and retirement, systems in deep crisis as the costs of these critical life-cycle needs have risen far beyond both the earning and saving capacity of average households and the spending capacity of government at current tax levels.