A wildly contrarian argument that contains many provocations—and some sensible solutions to big fiscal problems, too.
National debt? What, me worry?
Hockett, an economist who drafted Alexandria Ocasio-Cortez’s Green New Deal resolution, and James, the playful philosopher behind Assholes: A Theory (2012), deliver a timely argument: If the government can bail out corporations and serve up huge giveaways to the already rich, why shouldn’t everyone qualify? The coronavirus stimulus payout shows that the Federal Reserve “could regularly credit a guaranteed income….Call it one’s ‘birthright’ for being a citizen or authorized resident of the richest country in human history.” But where will all that money come from? Here, the authors’ argument becomes ethereal, befitting the abstract nature of money, and philosophical. Every dollar bill contains the words “Federal Reserve Note,” and the note in question is in essence a promise, “an IOU issued by the US central bank.” Given that the “full faith and credit” of the U.S. isn’t likely to disappear soon, and given that money in the hands of working people is usually spent and circulated quickly, generating wealth by creating markets and jobs, then money can be printed at will with the understanding that the promise it holds is neither too much (inflation) or too little (deinflation). “Lately we’ve been underpromising,” write the authors, adding, “there is not enough money in the right places.” Putting it in the right hands is the purview of the Fed, which, the authors argue, is comfortable with the notion of floating endless lines of credit to banks without demanding a profitable return—though banks, of course, don’t extend the same to their customers. Eliminating the middleman, the banker, by their account, is one of the “right policies [that] produce the means of money absorption itself—more goods and services, more real wealth—in tandem with the money issuance that finances those improvements.” It all adds up to a heady proposal for a new social compact, with every point well worth debating.
A wildly contrarian argument that contains many provocations—and some sensible solutions to big fiscal problems, too.Pub Date: Sept. 15, 2020
ISBN: 978-1-61219-856-9
Page Count: 384
Publisher: Melville House
Review Posted Online: June 8, 2020
Kirkus Reviews Issue: July 1, 2020
Cogent, well-timed ideas for meeting today’s biggest challenges.
Helping liberals get out of their own way.
Klein, a New York Times columnist, and Thompson, an Atlantic staffer, lean to the left, but they aren’t interrogating the usual suspects. Aware that many conservatives have no interest in their opinions, the authors target their own side’s “pathologies.” Why do red states greenlight the kind of renewable energy projects that often languish in blue states? Why does liberal California have the nation’s most severe homelessness and housing affordability crises? One big reason: Liberal leadership has ensnared itself in a web of well-intentioned yet often onerous “goals, standards, and rules.” This “procedural kludge,” partially shaped by lawyers who pioneered a “democracy by lawsuit” strategy in the 1960s, threatens to stymie key breakthroughs. Consider the anti-pollution laws passed after World War II. In the decades since, homeowners’ groups in liberal locales have cited such statutes in lawsuits meant to stop new affordable housing. Today, these laws “block the clean energy projects” required to tackle climate change. Nuclear energy is “inarguably safer” than the fossil fuel variety, but because Washington doesn’t always “properly weigh risk,” it almost never builds new reactors. Meanwhile, technologies that may cure disease or slash the carbon footprint of cement production benefit from government support, but too often the grant process “rewards caution and punishes outsider thinking.” The authors call this style of governing “everything-bagel liberalism,” so named because of its many government mandates. Instead, they envision “a politics of abundance” that would remake travel, work, and health. This won’t happen without “changing the processes that make building and inventing so hard.” It’s time, then, to scrutinize everything from municipal zoning regulations to the paperwork requirements for scientists getting federal funding. The authors’ debut as a duo is very smart and eminently useful.
Cogent, well-timed ideas for meeting today’s biggest challenges.Pub Date: March 18, 2025
ISBN: 9781668023488
Page Count: 320
Publisher: Avid Reader Press
Review Posted Online: Jan. 16, 2025
Kirkus Reviews Issue: Feb. 15, 2025
BOOK REVIEW
PERSPECTIVES
Highly instructive for would-be tycoons, with plenty of entertaining interludes.
Well-crafted memoir by the noted media mogul.
Diller’s home life as a youngster was anything but happy; as he writes early on, “The household I grew up in was perfectly dysfunctional.” His mother lived in her own world, his father was knee-deep in business deals, his brother was a heroin addict, and he tried to play by all the rules in order to allay “my fear of the consequences from my incipient homosexuality.” Somehow he fell into the orbit of show business figures like Lew Wasserman (“I was once arrested for joy-riding in Mrs. Wasserman’s Bentley”) and decided that Hollywood offered the right kind of escape. Starting in the proverbial mailroom, he worked his way up to be a junior talent agent, then scrambled up the ladder to become a high-up executive at ABC, head of Paramount and Fox, and an internet pioneer who invested in Match.com and took over a revitalized Ticketmaster. None of that ascent was easy, and Diller documents several key failures along the way, including boardroom betrayals (“What a monumental dope I’d been. They’d taken over the company—in a merger I’d created—with venality and duplicity”) and strategic missteps. It’s no news that the corporate world is rife with misbehavior, but the better part of Diller’s book is his dish on the players: He meets Jack Nicholson at the William Morris Agency, “wandering through the halls, looking for anyone who’d pay attention to him”; hangs out with Warren Beatty, ever on the make; mispronounces Barbra Streisand’s name (“her glare at me as she walked out would have fried a fish”); learns a remedy for prostatitis from Katharine Hepburn (“My father was an expert urological surgeon, and I know what I’m doing”); and much more in one of the better show-biz memoirs to appear in recent years.
Highly instructive for would-be tycoons, with plenty of entertaining interludes.Pub Date: May 20, 2025
ISBN: 9780593317877
Page Count: 352
Publisher: Simon & Schuster
Review Posted Online: May 12, 2025
Kirkus Reviews Issue: June 15, 2025
SEEN & HEARD
SEEN & HEARD
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