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Category: Political Economy

Book Review: Against the Grain: A Deep History of the Earliest States
(James C. Scott)

This outstanding book, by the anarchist-tending academic James C. Scott, might be (but isn’t) subtitled “Barbarians Are Happier, Fatter and Better Looking.”  The author does not believe the myth of the noble savage—but he thinks the savage is, on average, a lot better off than the peasant.  Scott’s project is to remold our view of the early days of civilization, erasing the sharp lines usually drawn to separate the first states from the social groups which preceded them, and dismissing the judgment that more organized is always better.

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Book Review: Naked Money
(Charles Wheelan)

Naked Money, by Charles Wheelan, has a primary goal and two secondary goals.  The primary goal, admirably accomplished, is to simply, but not simplistically, explain monetary policy.  One secondary goal, also well accomplished, is to defend fiat money against those who call for going back to a currency backed by gold or some other physical asset.  The other secondary goal, less well accomplished, is to justify aggressive government action, in particular by central banks, to shore up the American financial system during the 2008 crisis.

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Book Review: How Civilizations Die (David Goldman)

I have read David Goldman for a long time, under his alter ego, Spengler, a columnist for the Asia Times.  His columns are invariably excellent—pithy, insightful, and a pleasure to read.  But the talent set required to be a columnist is very different than that required of a book author.  Many columnists are unable to write a book that is other than either a set of compiled columns or a padded out column.  The late Joseph Sobran, who wrote for National Review when it was more than a forum for third-rate neoconservatives angling for jobs under Republican politicians, was one such.  David Goldman is another, and it shows in the many defects of this 2011 book, How Civilizations Die.

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Book Review: The Great Convergence: Information Technology and the New Globalization (Richard Baldwin)

This book mostly claims to be a book about “globalization,” today’s trendy word, but really, it is a book about industrial revolutions through time and space.  The author, Richard Baldwin, offers a new framework for understanding how the world has developed since the Great Divergence, led by England, that created centuries-long worldwide economic dominance by European cultures.  In particular, he offers an explanation why, since 1990, the relative share of the global economic pie held by the West has decreased, when it had never decreased before.  All this is interesting and valuable, in particular Baldwin’s conclusion that American critics of globalization are at least partially correct.  But it’s incomplete in the end, since Baldwin’s analysis completely omits the critical role of culture and institutions as related to a country’s capacity to develop.  Instead, he treats all humans as interchangeable members of homo economicus:  a fatal error, but one common to academic economists.

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Book Review: Destined for War: Can America and China Escape Thucydides’s Trap? (Graham Allison)

Graham Allison, a Harvard professor and sometime government functionary, is clearly a man who thinks a great deal of himself.  On the other hand, most of his pride in himself actually seems justified by his experience and thought, and in these Trumpian days, perhaps immodesty is the Spirit of the Age.  Therefore, if you can get through the scenes in Destined For War where Allison talks down to and instructs David Petraeus like a schoolboy, as the latter sits behind his CIA desk; and the passages where Allison exhaustively and irrelevantly enumerates the great men who have benefited from his role as “special advisor,” this book is actually very informative and thought provoking.

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Book Review: Strangers in Their Own Land: Anger and Mourning on the American Right (Arlie Hochschild)

Arlie Hochschild has gone the extra mile, and then some, to understand conservatives.  I would say that she exemplifies the (pseudo-) Indian saying, “Never criticize a man until you’ve walked a mile in his moccasins,” except that is not politically correct, so I will not say it.  Nonetheless, Hochshild has spent a lot of time and effort genuinely trying to understand a group of Louisiana conservatives, and the result is a very interesting book.  Sure, it’s not perfect, in part because Hochschild, like most of us, can’t fully overcome her own biases that sometimes lead her to engage in unsophisticated analysis.  But she is never once contemptuous or patronizing of these people, whom she seems to really regard as her friends, and she never caricatures the individuals, who actually vary from each other quite a bit.  This enables her to, overall, do an excellent job (and a better job than Joan Williams in the more recent White Working Class, which covers very similar topics in an obtuse way).

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Book Review: White Working Class
(Joan Williams)

Joan Williams wants to “Overcome Class Cluelessness in America.”  This is an admirable goal, and in many ways this is an admirable book (or brochure—it’s very short).  But reading White Working Class (which, despite its title, gives equal time to both the white and black working class) makes the reader squirm.  The reader appreciates the author’s, Joan Williams’s, attempts to objectively examine her class, that of the “professional-management elite,” or “PME,” but winces at her frequent inability to actually understand the working class, or to view the working class other than primarily as potential foot soldiers in the march of progressive politics.

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Book Review: The Great Divergence (Kenneth Pomeranz)

It is hardly news that the West has led the world economically for the past 200 years, or more.  This superiority (let’s be honest—that’s what it is) academics commonly call the “Great Divergence,” a term coined by Samuel Huntington in 1996, though the study of Western economic superiority began much earlier.  There are many sub-questions one can ask—e.g., what constitutes “the West”?  Is it England?  England and parts of the Continent?  How does America fit in?  When exactly did this takeoff begin?  Are other countries now catching up, or even passing, the West?  But these sub-questions are all small change compared to the most important question—why did the West diverge from the rest of the world at all, when all of world history up to that time exemplified the Malthusian Trap, where productivity increased too slowly to increase per capita output even when aggregate output increased?

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Book Review: Average Is Over
(Tyler Cowen)

Tyler Cowen is a popular economist, known for an influential blog (Marginal Revolution) and a set of books on economics directed at a general audience.  In Average Is Over, a book from 2013, Cowen predicts an American future of increased economic (and thus social) division, as new technology enables those most conversant with it to profit, and forces others to be paid less as they become relatively less productive.  This is a common historical occurrence, of course, where those whose skills are no longer valued by the market, from hand weavers to buggy whip makers to floppy disk craftsmen, must ultimately retire or retool, often never regaining their previous income, though the economy as a whole, and thus average and median income, expand in the long run despite short- and medium-term pain and dislocations.  The difference in Cowen’s analysis is that he forecasts a permanent division, the result of ever-improving radically new technology and the failure of some, or many, to properly orient themselves with respect to that technology.

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Book Review: The Mandibles: A Family, 2029-2047 (Lionel Shriver)

I’m a sucker for apocalyptic fiction.  Probably, similar to many doom-and-gloom conservatives, deep down I see myself as bestriding the Apocalypse like a colossus, Bible in my left hand and short-barreled AR-15 in my right.  Of course, intellectually I realize that actual apocalypses are very, very bad for everyone involved, so my self-image is buried deep in my id, not a goal I have set for myself.  Moreover, my strong belief is that, while it may not be evident yet, the era of apocalyptic fiction is ending, to be replaced by a new literature of optimism and pursuit of excellence.  A few months ago, I thought that switch would be quick and smooth.  Now, I suspect it will happen slowly over piles of bodies, with the only question being how tall those piles will be.  In the meantime, though, we can enjoy The Mandibles, Lionel Shriver’s excellent, and mostly pessimistic, book about the near future collapse of America.

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