All posts filed under: Political Economy

Ages of Discord: A Structural-Demographic Analysis of American History (Peter Turchin)

I am skeptical of those who predict the future by looking at the past. It’s not that history follows a random walk, like the stock market. Quite the contrary—it is easy to show certain patterns in history. But predicting how and when those patterns will yield any particular result in any given society seems like astrology. Peter Turchin, however, offers a very convincing, and very well-supported, tying of patterns to data. I’m still not sure it’s not astrology, but I’m half convinced. And this is a good book to read in January 2020—because right now is when Turchin predicts, in America, the swelling discord of the title.

The Value of Everything: Making and Taking in the Global Economy (Mariana Mazzucato)

I have long known in my gut that usual measures of social wealth, most of all GDP, are fraudulent, in that they falsely identify value where there is none. I have intuited we were all being lied to, and that those who assured us that ever more value was being generated by our society by what appear to be objectively valueless activities were, at best, hiding something. This outstanding book, by left-wing economist Mariana Mazzucato, explains what is being hidden, what hard truths are being avoided, and what she thinks we should do about it. And while I don’t agree with all her prescriptions, or with her rosy view of government competency, the first step on the path to self-improvement is admitting you have a problem.

The Great Transformation: The Political and Economic Origins of Our Time (Karl Polanyi)

The Great Transformation, published in 1944, is an ambitious book. It attempts two huge tasks. First, to refute the free market ideology, sometimes called market fundamentalism, represented at that time by men such as Ludwig von Mises, and now by the entirety of globalized neoliberal capitalism. Second, to explain the history of the nineteenth century through an economic lens that also purports to explain both World War I and World War II. Mostly, the book is a failure. It overshoots in its criticism of the free market, and falls short on its claims of historical explanation. Karl Polyani’s prescriptions are, moreover, vague and worthless. There is some truth in this book, but it is buried beneath too much dross.

Bullshit Jobs: A Theory (David Graeber)

I am trying to understand how human beings create value through their actions, and what that implies for humanity. Although this goal is hardly original, and has occupied much brighter thinkers than me for much of their lives, it is a necessary step in defining Foundationalism, because how we occupy our hands and minds, and what effects that has on us and society, are critical components of human flourishing. And the economic path we have been on for the past several decades has led to the opposite of human flourishing, surface appearances notwithstanding. To guide us to flourishing, we must understand why that is, and what can be done differently.

The World Beyond Your Head: On Becoming an Individual in an Age of Distraction (Matthew B. Crawford)

Attacks on digital technology for destroying our capacity for attention are a dime a dozen. Despite its title, Matthew Crawford’s The World Beyond Your Head is not such an attack. It is far more ambitious. Somewhat to my surprise, it is a direct assault on the Enlightenment for ruining the habits of mind and practice that lead to human flourishing. Crawford says modern man is subject to delusions, birthed by the Enlightenment, that diffuse our perception of the world in a fog of unreality. He therefore sets himself up in as the paladin of reality, a champion badly needed by our times, offering a return to the solidity of the real, through excellence as developed in skilled practices.

The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century (Walter Scheidel)

Economic inequality is, and has been for several years now, the talk of the town. But most of this talk is political—of economic goods today, and whether and how our society should change who owns them. Little mainstream attention has been paid to the history of inequality, and here Walter Scheidel offers an exhaustive look into the past. The Great Leveler is a good book, if pretty dry, but the author only offers statistics and graphs, and does not consider inequality philosophically. He merely concludes that society-wide inequality can only be reduced, and that just temporarily, by death on a massive scale. That’s probably true, but it does not tell us whether, focusing more narrowly, we can reject bad inequalities while keeping good inequalities.

American Genesis: A Century of Invention and Technological Enthusiasm (Thomas P. Hughes)

American Genesis is a cultural history of the grand century of American technology, from 1870 to 1970. Thomas Hughes published his book in 1989, when Americans believed that the grandeur of American technological achievement had matured into something less flashy, yet more durable and equally pregnant with accomplishment. Hughes linked a valedictory history of early inventors with a narrative of those inventions becoming embedded in vastly greater systems, which appeared to offer continued technological progress. But 1989 was a long time ago, and as it has turned out, we have been left with the worst of both worlds. We lack new and beneficial world-changing technologies, and the massive systems, supercharged by the internet, dominate and dehumanize our lives in ways previously unimaginable. It may not be American Terminus, yet, but finding a new path is necessary to recapture the now-cobwebbed spirit of enthusiastic achievement this book chronicles.

Dignity: Seeking Respect in Back Row America (Chris Arnade)

Last year, I went to the State Fair, and simply sat and watched the people pass by. The vast majority were lower class, and looked it. I tried, for a change, to ignore the externals and imagine myself conversing with individuals with whom, to an outside observer, I have nothing in common. Chris Arnade wrote Dignity to document a similar exercise, though one far more in-depth. He travelled the country, talking to many people from the lower classes, what he calls the “back row.” Then he wrote up what he had learned, and added a great deal by filling the book with pictures, so that the reader can perform the same exercise I did at the State Fair, and ponder respect and the back row in today’s society.

The Social Media Upheaval (Glenn Harlan Reynolds)

Glenn Reynolds, the famous “Instapundit” and a law professor at the University of Tennessee, offers a short book about social media and the problems it brings. He frames his analysis and argument as a parallel to James C. Scott’s Against the Grain, which valorizes Mesopotamian hunter-gatherers. Reynolds’s point is that just as when hunter-gatherers became city dwellers they also became more susceptible to disease, so when we submitted ourselves to living on social media, we also became more susceptible to disease. That is, to diseases of the mind, and he offers some possible cures and vaccines.

The War on Normal People: The Truth About America’s Disappearing Jobs and Why Universal Basic Income Is Our Future (Andrew Yang)

Just in time for the first Democratic presidential debates, I have finished candidate Andrew Yang’s manifesto, The War on Normal People. From its title, which subversively suggests there is such a thing as normality, you can tell that Yang is trying to be different. From its subtitle, you can learn of Yang’s core big idea, universal basic income, UBI. I was prepared to be unimpressed, but really, the book is well written, and UBI, as Yang explains it, has a certain attraction, even though it’s utterly unachievable in a democratic system. In the coming less-democratic system, however, maybe there is something here we can use, and at least Yang is offering something new, which may get him traction in the Democratic field.