An exhilarating record of intellectual engagement.
A work focuses on a symposium devoted to diagnosing and curing the socioeconomic ailments that plague the lower and middle classes in America.
According to Ludwig, the editor of this volume and the organizer of the discussions at Yale Law School it documents, the lower and middle classes in the United States are desperately falling behind. They are the victims of an “economic tsunami” ravaging them for some time, the effects thrown into grimly sharp relief by the recent pandemic, of which they are “bearing the brunt of the burden.” The crisis is sometimes obscured by an overemphasis on standard economic indices, like the gross domestic product, which fails to capture the heart of the problem. Stagnating and even declining wages and a dearth of employment opportunities as well as the rising costs of basic necessities like shelter, education, and health care have left many in the nation embattled. In spring 2019, Ludwig brought together an impressive assemblage of luminaries to discuss this issue, culled from academia, government, and the world of commerce, including Lawrence H. Summers, the economist, former secretary of the Treasury, and former president of Harvard; Deval Patrick—the former Massachusetts governor, who delivered the keynote address—and Sarah Bloom Raskin, the former deputy secretary of the Treasury. The discussion is subdivided into three panels that investigate the nature of the problem, the possible responses at the national level, and the possible strategies at the local level. The editor not only brings together an accomplished coterie of participants, but also a diverse one. The highlights often involve the principled disagreement among the speakers, exchanges that manage to be edifying, spirited, and unfailingly civil, no small feat in the currently overcharged political climate. Furthermore, the topics touched on are wide-ranging, including the impact of technology on inequality, the exclusivity of elite education, macroeconomic strategies for increasing employment, and the rise of White nationalism and populism. In this lively and engrossing work, Ludwig presents a model of public discourse—informed, multidisciplinary, and shorn of myopic ideological commitments.
An exhilarating record of intellectual engagement.Pub Date: Sept. 22, 2020
ISBN: 978-1-63331-044-5
Page Count: 275
Publisher: Disruption Books
Review Posted Online: July 30, 2020
Review Program: Kirkus Indie
Alternately admiring and critical, unvarnished, and a closely detailed account of a troubled innovator.
A warts-and-all portrait of the famed techno-entrepreneur—and the warts are nearly beyond counting.
To call Elon Musk (b. 1971) “mercurial” is to undervalue the term; to call him a genius is incorrect. Instead, Musk has a gift for leveraging the genius of others in order to make things work. When they don’t, writes eminent biographer Isaacson, it’s because the notoriously headstrong Musk is so sure of himself that he charges ahead against the advice of others: “He does not like to share power.” In this sharp-edged biography, the author likens Musk to an earlier biographical subject, Steve Jobs. Given Musk’s recent political turn, born of the me-first libertarianism of the very rich, however, Henry Ford also comes to mind. What emerges clearly is that Musk, who may or may not have Asperger’s syndrome (“Empathy did not come naturally”), has nurtured several obsessions for years, apart from a passion for the letter X as both a brand and personal name. He firmly believes that “all requirements should be treated as recommendations”; that it is his destiny to make humankind a multi-planetary civilization through innovations in space travel; that government is generally an impediment and that “the thought police are gaining power”; and that “a maniacal sense of urgency” should guide his businesses. That need for speed has led to undeniable successes in beating schedules and competitors, but it has also wrought disaster: One of the most telling anecdotes in the book concerns Musk’s “demon mode” order to relocate thousands of Twitter servers from Sacramento to Portland at breakneck speed, which trashed big parts of the system for months. To judge by Isaacson’s account, that may have been by design, for Musk’s idea of creative destruction seems to mean mostly chaos.
Alternately admiring and critical, unvarnished, and a closely detailed account of a troubled innovator.Pub Date: Sept. 12, 2023
ISBN: 9781982181284
Page Count: 688
Publisher: Simon & Schuster
Review Posted Online: Sept. 12, 2023
Kirkus Reviews Issue: Oct. 15, 2023
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Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
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