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The Search for the Fountain of Prosperity
Michael Stevenson

This is the story of a search for a quest - not the quest itself, but the search for what purports to
be the only tangible object of the quest, «the fountain of prosperity». The story is as much mystery and
fantasy as it is economics or history, or even sculpture for that matter. Like the quest itself, the search is
steeped in superstition and magic. Forecasting economic growth is, after all, a form of divination or scientific
fortune telling and, like all predictions, remains permeable to the irrational. While the quest involves
looking into the future, my search involves divining the past.
The story of the search for the past, the quest, is narrated in terms of the quest for the destiny of the
Phillips Machine's brief life in the Central Bank of Guatemala and the enthusiasm for its powers shown
by a famous «Keynesian», Abba Lerner.

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