Review excerpt:

Dow 36,000 is a provocative and well-written treatise that cannot be dismissed as easily as many of its critics have suggested. But what is at stake here is much more important than a debate among economists. This is a book with the goal of giving investment advice. For this reason I believe Dow 36,000 is a dangerous book that may lead some investors who can ill afford the significant risks of equity investments to throw caution to the wind.

Mr. Malkiel is the author of A Random Walk Down Wall Street, the seventh edition of which was published this year. James K. Glassman is a resident fellow, and Kevin A. Hassett a resident scholar, at AEI.