PDF EPUB Time To Start Thinking Author Edward Luce – dugisits.co.za


  • Paperback
  • 320
  • Time To Start Thinking
  • Edward Luce
  • English
  • 13 November 2018
  • 9780349000299

Edward Luce ´ 5 Read

Time To Start Thinking Free read ↠ 105 Ally economically and domestically It must also restructure to remain the world's most competitive economy And it must address uality of life issues and fairness at home But American politics is broken competing forces and interest. Any American who s interested in the future well being of the country will find this a depressing read It s a catalog of bad news on lots of fronts from education to industry to innovation to especially politics at both the state and federal level and makes the case that these problems are all part of a negative feedback loop that defies easy correction One can find fault with individual observations as I did while reading but the sheer uantity of problems many of which are factually hard to dispute paint a very bleak big picture No one is spared the author rips into Obama and Tea Party Republicans with vigor in the chapters on Washington though the charges he levels at each are of course completely different It s the sort of book you wish everyone would read but if its analysis is to be believed that would likely not do much good anyway Recommended but only for people who can handle a bit of despair Nautier and Wilder you wish everyone would read but if its analysis is to be believed that would likely not do much good anyway Recommended but only for people who can handle a bit of despair

Summary ´ PDF, eBook or Kindle ePUB free ´ Edward LuceTime To Start Thinking

Time To Start Thinking Free read ↠ 105 S have led to stasis With change so tough where now for a country where the middle classes are suffering as they have never suffered before the pensions crisis is growing the deficit out of sight and radicalism waiting in the wings. This is a remarkably uneven book One could start with the comment that it would have been better had the author taken his one advice A good deal of what is in here is a lot like an edition of Robin Leach s program although this one would probably be called Lifestyles of the Mercantilists and Rent Seekers The author breezes through a group of interviews of the rich and famous Luce is a Brit who once worked for Larry Summers in the Obama White House as a speech writer His research is sloppy For example he says Senator James Inhofe is from Alaska Tom McClintock is a congressman from Thousand Oaks he was a member of the legislature from there that the Federal Reserve was created by a Constitutional Amendment those are just for starters Like Leach Luce is also prone to generalizations which are not based on anything but their exuberant expressionHe argues for example that the boom in the US which began after the Civil War was a result of the Mercantilist like policies of Alexander Hamilton Indeed for a good part of the 19th and part of the 20th Century the US had a high tariff regime But if Luce were correct then the imposition of the Smoot Hawley tariff regime at the start of the depression should have made the US economy growth exponentially Obviously the conditions which led to our economic growth included a series of factors Then there are the omissions For example he fails to credit a host of inventors who work on the development of television which indeed did have many parents The opening of the book begins with a summary of several commencement addresses including one by Nobel Economist Robert Solow and one by former Senator Donald Riegle which was being written as Luce drove him to the event both of which were about the tough times we are in A good deal of the rest follows the care that Riegle had for his listeners For example despite the evidence that counter cyclical stimulus may not be successful in promoting growth witness the failure of the stimulus bills to achieve their objectives he thinks that borrowing money which he says is currently dirt cheap is a no brainer to produce growth There are plenty on the left who believe that but there is also plenty of evidence on how wrong the assumption isLuce seems to be a strong supporter of Industrial Policy Early in the book he argues that the US should have one because every other industrialized nation does not exactly a compelling argument At the same time one of his many breezy stops was with Vinod Koshla one of the founders of Sun who is working on all sorts of non linear technology solutions to a series of problems Progress is not linear although he seems to understand that bureaucracies rarely avoid linear thought He seems to think that investments like Solyndra were sound The US edged closer to industrial policy a couple of times in our history but wisely rejected that step Any observer should acknowledge the role that DARPA and other federal agencies had in providing necessary stimulus to important things like the Internet but it took the US capital markets to take an idea designed to prevent communications failures in time of war or catastrophe into a set of commercial successes Even his old boss Summers once commented that the government is not a very good allocator of capital Summers evidently said that remark out of Luce s earshotHe seems to reflexively take the side of the liberal democrats For example he accepts the theory of asymmetric polarization that the right is polarizedpolarizing than the left as gospel From my perspective part of the political problem the US faces is that there is no middle Both the left and the right increasingly take their positions as theological He also argues that the decline in the middle class is the result of globalization and technology While both have certainly contributed to those trends the explanation is far from adeuate Remember that if you took out only about 15 counties in the US the perceived income ineuality would be substantially reduced His explanation does not account for the tremendous growth in the DC suburbs although he does suggest that those areas are booming From my own study the complexity of the income decline is not limited to those two factors also contributing has been the compensation of stars the increase of compensation to lawyers and financial types and a host of other factors For Luce although he does not specifically say it the best way to solve the ineuality problem would be to raise rates in income taxes Where that has been tried there is no evidence that it has workedHe also seems to go hyperbolic on conservatives and tea partiers He says he has talked with them but the pictures he presents of them are mere caricatures I realize as a partisan he worked in the Obama White House that he is free to make generalizations about his political opponents but his constant nattering about the need for bipartisanship seems to be ignored when balanced against his descriptions of conservativesFinally he comments that 40% of all subsidies from the Federal government go to the wealthy A lot of that depends on what you call wealthy and whether in the case of payments like Social Security what should properly be called subsidies He describes that distribution as uniue yet one need only look at European agricultural subsidies where 2% of Europe s farms receive 24% of all direct payments while the smallest 60% receive only 10% to see its follySo with all those problems what are the good points First he has a pretty good understanding of the arrogance of Washington He seems to have read Mancur Olson the University of Maryland economist who wrote three absolutely brilliant books on why people join groups and what are the hazards with groups He argues that Washington is busy elaborating itself with thousands of new administrative assistants a host of Chiefs of Staff an unreasonably complex tax code and a blizzard of regulations rather than in figuring out what the most important jobs for government are He suggests that there are 10 million contractual workers for the federal government From my perspective given those facts I would begin to see how this leviathan could be pruned a bit keeping the important parts and discarding the rest One way to reduce the gridlock complexity and arrogance of DC is to try to limit the number of things DC tries to do He is pretty good at describing some of the things that DC might need to refocus on an opening from a discussion he had with a bunch of mid career military officers is interesting but he often seems to default with the notion that just because it is government funded except for the Department of Defense it probably should staySecond although I think he is a bit of a toady for projects like the Gates Foundation he recognizes that we are not serving our young people with our educational systems I do not think the chapter on education does much than recite a litany of the problems facing our public schools But our record on making our K 12 schools models for the world is far from perfect He dumps on charter schools where I believe the record is better than he asserts but he recognizes the perils of bureaucracy in these systemsThird in the private sector his criticism of the role of financial institutions is mostly on target Although even there he defaults to a standard version offered by the likes of Barney Frank or Christopher Dodd He does point out that Sarbanes Oxley the legislation supposedly designed to prevent another Enron has diminished the ability of startups to develop To that he could also add the ACA and Dodd Frank He also does some interesting discussion of the decline in male compensation A good deal of the perceived stagnation in wages over the last couple of decades is attributable to a real decline in average male incomes while female incomes have been risingFourth he has a perceptive analysis of the Obama Administration Key to his descriptions is the President s inability to recognize that in the current environment he could not pursue his policies with a single mind and not expect to gain a negative reaction His descriptions of the inner conflicts of the administration tell a story of the perils of hiring someone like Obama with so little administrative experienceHis concern about the combined problems of increasing disparity of incomes slow economic growth and seeming decline in innovation and civic institutions got me to think about how to develop a counter reading list The problems raised by Luce should not simply be ignored There are plenty of alternative approaches the best way to start thinking is to consider a wider range of alternativesSo what would be in my reading list as a counter to Luce s inadeuacies First might be a book by two editors of the Economist called the Fourth Revolution which is a first rate survey of how various nations are confronting the dysfunctions of political systems that Luce tries to describe The second is called the Second Machine Age by two economists which attempts to confront the challenges offered by technology although their treatment is considerably balanced The third is by Charles Murray and details the changes that have happened to the middle class over the last 50 years Finally I would always recommend Mancur Olson s The Rise and Decline of Nations Economic Growth Stagflation and Social Rigidities which described the problems which gum up political systems in a much formal way than Luce attempted Those three and Olson s classic are a lot tougher read but if you want to try to start to think they would leave you with a lot substance and possibly some much convincing alternatives

Summary Time To Start Thinking

Time To Start Thinking Free read ↠ 105 On its present course the US faces a world of rising new countries that will compete with it ever fiecely as its own power is declining In order to slow and improve this steady leakage of power the US must change course internation. The title of the book is inspired by a uotation by Sir Ernest Rutherford who won the Nobel prize for Chemistry Gentlemen we have run out of money It is time to start thinking I would recommend this book to people with associations with the United States of America be they professional cultural social or familial It paints a lucid portrait of many of the significant challenges facing Uncle Sam in the second decade of the century