A definitive, damning, urgent tale of overweening avarice at tremendous cost to society.
Richly researched account of the Sackler pharmaceutical dynasty, agents of the opioid-addiction epidemic that plagues us today.
In his latest excellent book, Keefe opens in a conference room packed with lawyers, all there to depose “a woman in her early seventies, a medical doctor, though she had never actually practiced medicine.” Kathe Sackler, thanks to the invention of a drug called OxyContin, was a member of one of the wealthiest families in the world, holding some $14 billion. The founder of that dynasty had established numerous patterns that held for generations. Though he had insisted that family philanthropy be prominently credited “through elaborate ‘naming rights’ contracts,” the family name would not extend to their pharmaceutical company, Purdue Pharma. The family would also not accept responsibility for any untoward effects that its products might have. Thus, when asked whether she acknowledged that hundreds of thousands of Americans had become addicted to OxyContin, Kathe answered, “I don’t know the answer to that.” Keefe turns up plenty of answers, including the details of how the Sacklers—the first generation of three brothers, followed by their children and grandchildren—marketed their goods, beginning with “ethical drugs” (as distinct from illegal ones) to treat mental illness, Librium and then Valium, which were effectively the same thing but were advertised as treating different maladies: “If Librium was the cure for ‘anxiety,’ Valium should be prescribed for ‘psychic tension.’ ” By Keefe’s reckoning, by the mid-1970s, Valium was being prescribed 60 million times per year, resulting in fantastic profits for Purdue. OxyContin followed in 1996—and then the opioid crisis, responsibility for which has been heavily litigated and for which the Sacklers finally filed bankruptcy even though they “remained one of the wealthiest families in the United States.” Of particular interest is the book-closing account of the Sacklers’ legal efforts to intimidate the author as he tried to make his way through the “fog of collective denial” that shrouded them.
A definitive, damning, urgent tale of overweening avarice at tremendous cost to society.Pub Date: April 13, 2021
ISBN: 978-0-385-54568-6
Page Count: 560
Publisher: Doubleday
Review Posted Online: April 12, 2021
Kirkus Reviews Issue: May 15, 2021
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
SEEN & HEARD
Deliberately provocative, with much for left-inclined activists to ponder.
A wide-ranging critique of leftist politics as not being left enough.
Continuing his examination of progressive reform movements begun with The Cult of Smart, Marxist analyst deBoer takes on a left wing that, like all political movements, is subject to “the inertia of established systems.” The great moment for the left, he suggests, ought to have been the summer of 2020, when the murder of George Floyd and the accumulated crimes of Donald Trump should have led to more than a minor upheaval. In Minneapolis, he writes, first came the call from the city council to abolish the police, then make reforms, then cut the budget; the grace note was “an increase in funding to the very department it had recently set about to dissolve.” What happened? The author answers with the observation that it is largely those who can afford it who populate the ranks of the progressive movement, and they find other things to do after a while, even as those who stand to benefit most from progressive reform “lack the cultural capital and economic stability to have a presence in our national media and politics.” The resulting “elite capture” explains why the Democratic Party is so ineffectual in truly representing minority and working-class constituents. Dispirited, deBoer writes, “no great American revolution is coming in the early twenty-first century.” Accommodation to gradualism was once counted heresy among doctrinaire Marxists, but deBoer holds that it’s likely the only truly available path toward even small-scale gains. Meanwhile, he scourges nonprofits for diluting the tax base. It would be better, he argues, to tax those who can afford it rather than allowing deductible donations and “reducing the availability of public funds for public uses.” Usefully, the author also argues that identity politics centering on difference will never build a left movement, which instead must find common cause against conservatism and fascism.
Deliberately provocative, with much for left-inclined activists to ponder.Pub Date: Sept. 5, 2023
ISBN: 9781668016015
Page Count: 256
Publisher: Simon & Schuster
Review Posted Online: June 28, 2023
Kirkus Reviews Issue: Aug. 1, 2023
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