Fukuyama offers a general theory of prosperity that provides provocative answers to certain of the questions he raised in The End of History and the Last Man (1992). While conceding that neoclassical economists have uncovered important truths about markets and money, the RAND Corp. analyst argues that they give a poor account of human behavior. In search of links missed by these practioners of the dismal science, Fukuyama probes the impact of culture (broadly speaking, any society's inherited ethical habits) on economic life. Focusing on such factors as trust (a community's shared expectation of honest, cooperative behavior outside the family) and social capital (the values created by tradition, religion, or other means), the author examines the ability of various peoples to organize effectively for commercial purposes without relying on blood ties or government intervention. Fukuyama surveys emergent as well as established industrial powers (the US, Canada, China, Germany, Italy, Japan, Korea, et al.) to determine which might have superior reserves of social capital. These reserves are important, he points out, because market-oriented societies in which there is a high degree of moral consensus and cooperation have lower transaction costs and hence greater competitiveness. The author puts paid to any idea that the US is a nation of rugged individualists; indeed, Americans are joiners without peer. He warns, though, that ongoing deterioration in the ties that bind (e.g., declines in church attendance and membership in fraternal or voluntary organizations), coupled with a persistent rise in divorce rates and special-interest groups, could deplete the nation's social capital and over time levy an economic toll. In turn, he cautions, the weakening of civil authority could strengthen the state's judiciary and executive branches, an outcome that, he says, is in nobody's best interest. A challenging, elegant exegesis that puts intellectual meat on the bones of Benjamin Franklin's tip to his fellow revolutionaries at the signing of the Declaration of Independence: "We must all hang together, or assuredly we shall all hang separately."
Pub Date: Aug. 14, 1995
ISBN: 0-02-910976-0
Page Count: 350
Publisher: Free Press
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: June 15, 1995
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
For Howard Zinn, long-time civil rights and anti-war activist, history and ideology have a lot in common. Since he thinks that everything is in someone's interest, the historian—Zinn posits—has to figure out whose interests he or she is defining/defending/reconstructing (hence one of his previous books, The Politics of History). Zinn has no doubts about where he stands in this "people's history": "it is a history disrespectful of governments and respectful of people's movements of resistance." So what we get here, instead of the usual survey of wars, presidents, and institutions, is a survey of the usual rebellions, strikes, and protest movements. Zinn starts out by depicting the arrival of Columbus in North America from the standpoint of the Indians (which amounts to their standpoint as constructed from the observations of the Europeans); and, after easily establishing the cultural disharmony that ensued, he goes on to the importation of slaves into the colonies. Add the laborers and indentured servants that followed, plus women and later immigrants, and you have Zinn's amorphous constituency. To hear Zinn tell it, all anyone did in America at any time was to oppress or be oppressed; and so he obscures as much as his hated mainstream historical foes do—only in Zinn's case there is that absurd presumption that virtually everything that came to pass was the work of ruling-class planning: this amounts to one great indictment for conspiracy. Despite surface similarities, this is not a social history, since we get no sense of the fabric of life. Instead of negating the one-sided histories he detests, Zinn has merely reversed the image; the distortion remains.
Pub Date: Jan. 1, 1979
ISBN: 0061965588
Page Count: 772
Publisher: Harper & Row
Review Posted Online: May 26, 2012
Kirkus Reviews Issue: Jan. 1, 1979
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
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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