Conservative in bent, expansive in scope, sedulous in scholarship, often wise and wonderful. (16 pages b&w photos, not...

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THE GREAT BOOM

1950-2000: HOW A GENERATION OF AMERICANS CREATED THE WORLD’S MOST PROSPEROUS SOCIETY

A rigorous, engaging assessment of the impressive post-WWII economic growth in the US by the late business historian Sobel (Coolidge, 1998, etc.).

Like the teacher he was for more than 40 years, Sobel begins with a question: “How did Americans who in 1945 imagined their futures might not be particularly bright come to accomplish so much during the ensuing fifty-plus years?” Throughout the remainder of this comprehensive work he provides a variety of answers, most of which flatter—deservedly so—his coevals, Tom Brokaw’s “greatest generation” (Sobel alludes to Brokaw’s book more than once). Sobel establishes that the GI’s returning from WWII felt “a generalized lack of confidence”—after all, they had lived through both the Great Depression and a devastating war. But they possessed, he writes, the values of “hard work and dedication” and the determination to improve not only their own lives but the lives of their descendants. Sobel argues that the most important factors fueling the unprecedented accumulation of wealth were home ownership (he has an enlightening account of the development of Levittown and the ensuing suburbia), education (he credits the GI Bill), and entrepreneurship (he discusses many ventures (from McDonald’s to Yahoo!). President Reagan emerges as a sort of cultural hero in this account: Sobel assails critics of Reagan’s economic policies (stockholders profited during the corporate-raiding 1980s, he observes) and identifies as “Reagan’s defining moment” the breaking of the PATCO strike. Sobel also leans right in his social criticism, sniping at 1960s campus radicals and at universities’ declining academic standards. His reply to the question of why so many people remain in poverty is the cold comment that “there will always be some who cannot handle capitalism and freedom.” The book ends with a sanguine view of a future with “boundless” possibilities.

Conservative in bent, expansive in scope, sedulous in scholarship, often wise and wonderful. (16 pages b&w photos, not seen)

Pub Date: July 20, 2000

ISBN: 0-312-20890-1

Page Count: 438

Publisher: St. Martin's

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: June 1, 2000

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Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

THINKING, FAST AND SLOW

A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.

The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.

Pub Date: Nov. 1, 2011

ISBN: 978-0-374-27563-1

Page Count: 512

Publisher: Farrar, Straus and Giroux

Review Posted Online: Sept. 4, 2011

Kirkus Reviews Issue: Sept. 15, 2011

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A deftly argued case for a new kind of socialism that, while sure to inspire controversy, bears widespread discussion.

CAPITAL AND IDEOLOGY

A massive investigation of economic history in the service of proposing a political order to overcome inequality.

Readers who like their political manifestoes in manageable sizes, à la Common Sense or The Communist Manifesto, may be overwhelmed by the latest from famed French economist Piketty (Top Incomes in France in the Twentieth Century: Inequality and Redistribution, 1901-1998, 2014, etc.), but it’s a significant work. The author interrogates the principal forms of economic organization over time, from slavery to “non-European trifunctional societies,” Chinese-style communism, and “hypercapitalist” orders, in order to examine relative levels of inequality and its evolution. Each system is founded on an ideology, and “every ideology, no matter how extreme it may seem in its defense of inequality, expresses a certain idea of social justice.” In the present era, at least in the U.S., that idea of social justice would seem to be only that the big ones eat the little ones, the principal justification being that the wealthiest people became rich because they are “the most enterprising, deserving, and useful.” In fact, as Piketty demonstrates, there’s more to inequality than the mere “size of the income gap.” Contrary to hypercapitalist ideology and its defenders, the playing field is not level, the market is not self-regulating, and access is not evenly distributed. Against this, Piketty arrives at a proposed system that, among other things, would redistribute wealth across societies by heavy taxation, especially of inheritances, to create a “participatory socialism” in which power is widely shared and trade across nations is truly free. The word “socialism,” he allows, is a kind of Pandora’s box that can scare people off—and, he further acknowledges, “the Russian and Czech oligarchs who buy athletic teams and newspapers may not be the most savory characters, but the Soviet system was a nightmare and had to go.” Yet so, too, writes the author, is a capitalism that rewards so few at the expense of so many.

A deftly argued case for a new kind of socialism that, while sure to inspire controversy, bears widespread discussion.

Pub Date: March 10, 2020

ISBN: 978-0-674-98082-2

Page Count: 976

Publisher: Belknap/Harvard Univ.

Review Posted Online: Dec. 22, 2019

Kirkus Reviews Issue: Jan. 15, 2020

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