Fascinating look at how energy, specifically cheap energy, may have been one of the main drivers of our economic progress over the past 150ish years....moreFascinating look at how energy, specifically cheap energy, may have been one of the main drivers of our economic progress over the past 150ish years. The authors then go on to point out that we are in peak oil and our economic toolbox will need to change in order to thrive in the post peak world.
Overall, the authors present a compelling case and do manage to tie together the social and the science a la E. O. Wilson. Sadly, Hall's writing tends to repeat and there are many tangents that while interesting, do not add to the central argument.
Nudge was not what I expected. I was looking for something about marketing, personal impulse, and more on how the brain can fool you. However I got so...moreNudge was not what I expected. I was looking for something about marketing, personal impulse, and more on how the brain can fool you. However I got something much more compelling: Nudge.
Here our two authors take a general theory; choice architecture, and present it in a very simple, easy to understand package. At times the writing is humorous (other times their jokes fall pretty flat) but the meanings were never lost. Quite simply, with a little bit of retooling, we could have a potentially huge impact on how our society works (within certain realms). This is powerful and heady stuff indeed. And not being a fan of the Chicago School of Economics, I personally was blown away by the simple fact that I agreed with these two professors so very much.
At the 50,000 foot view, a nudge is a simple change that gently pushes the odds of someone doing, or not doing something, in the direction that the choice architect wants. A great example, not from this book, is placing items a store wants to move on the isle end caps. A better example, from this book, is having an opt-in organ donor policy in order to get more people to become donors and thus save more lives.
Sometimes the authors really hit home run after home run for example when they talk about the benefits of cap and trade and on increasing taxes on polluters. Bonus, they are all for complete transparency (yay!). Even better, they give examples of how complete transparency has helped in the past! This all pushes the reader toward seeing their point of view on the subject.
However other parts lost a little of the choice architecture luster. One chapter that I believe is brilliant was a stretch for choice architecture - and that was the chapter on same sex marriage. They argue that the states should get rid of marriage, create simpler, civil unions for all and let religious groups (or scuba groups) marry whomever they want. Now I'm all for this - government should not be in the business of marriage and everyone, gay, straight, etc should be able to have a civil union - a legally binding contract together, if they so chose. With all that goes with it (taxes, the right to visit each other in the hospital, etc). however this was a stretch for the main topics of the book. Still it was great to see a rational argument for giving everyone the same rights. As someone wise once said, everyone should have the right to marry the person they want to annoy (in a loving way) for the rest of their life!
Past that, the book also gave me some food for thought on school programs (so called vouchers) and the medicare drug option program (and how we could make it better). The latter is actually something that I'm starting to look at as my mom is trying to figure out what to do. She's a former pharmacist so if she's having trouble, you know the design is pretty bad! The simple proposals in Nudge would make life a ton easier. Simply import your current drug regime and get a breakdown on which plan best fits your needs. How much easier could you ask for? Total transparency with an easy mechanism to make things work.
Overall this was a great, quick read that left me wanting to read a little more deeply on this topic. This book, by design, only skims the surface. That's both its blessing and its failure. There were too many topics covered, briefly, and not enough meat at times. This left a few of the ideas feeling half formed; which I think is a disservice to the authors. I don't agree with all their ideas but their presentation was fair, well thought out and articulated from the position of wanting to help everyone - especially those who don't know what their best interests are (and we all fit into that category sometimes). An excellent read.(less)
I should have liked this book more. As it was it is a good primer to trends, analysis and how social theory. Its a little dated but still mostly reada...moreI should have liked this book more. As it was it is a good primer to trends, analysis and how social theory. Its a little dated but still mostly readable. There are times when the book does slog though - the examples aren't always well described and sometimes the writing feels forced. Still, its one of those books that many people reference so its good to know the source.(less)
I have a soft spot for economics books, especially somewhat poppy ones. Mr Hartford strikes a perfect balance between poppy and teaching core principa...moreI have a soft spot for economics books, especially somewhat poppy ones. Mr Hartford strikes a perfect balance between poppy and teaching core principals. In fact I had a very hard time putting this book down.
What sets this book apart from other economics books is the examples. Mr Hartford's choices range from Starbucks (why coffee beans will always be cheap but coffee won't be) to the true cost of tariffs to health care reform. In fact his was the only argument for health saving accounts (combined with insurance) that actually makes sense to me. Note these are far, far from the GOPs proposal which may be why they make sense to me.
The final two chapters, on globalization and China, are also extremely well written and help present the net societal benefits of globalization and also helps to explain the true costs of tariffs. These chapters are both to the point and, more importantly, don't sugar coat the problems that are inherent to the system and the dangers of doing things half way.
This was a quick, fun and enlightening read. What more can you ask for!
Yes Mr Taleb can be very loose with his arguments, yes he spends a third of the book rehashing the points in "Fooled by Randomness" and yes he spends...moreYes Mr Taleb can be very loose with his arguments, yes he spends a third of the book rehashing the points in "Fooled by Randomness" and yes he spends another 30 or so pages bashing many philosophers, economists and general thinkers. With all that, this book is still quite enjoyable and, at times, a very real eye opener.
Once again we are warned of the dangers of examining the world as if it was gaussian - as if it was a simple model (or that idealized models actually give useful real world advice). This warning seems prescient given what happened to the world economies starting in late 2007 (the book came out before the collapse). He also gets bonus points for dissing game theory, especially when applied to economics. Well done Mr Taleb!
If this wasn't a rehash, or maybe if it was better presented (less an obvious rehash) I would have enjoyed this book much more. As it is, if you haven't read "Fooled by Randomness" you'd get the gist here (though I think that is a better book). If you have read "Fooled...", "Black Swans" is more of the same. Still enjoyable but with a strong deja vu. (less)
I haven't fully decided if all the points that Professor Krugman makes are all valid - but his case is compelling.
His historical take on the past 80...moreI haven't fully decided if all the points that Professor Krugman makes are all valid - but his case is compelling.
His historical take on the past 80 years is outstanding - and his discussion on how the GOP got to where they are is, most likely, very much on point (and I hear that "Nixonland" is really going to expand on the issues just touched upon in this book.
Finally the rationale for universal health, a return to some of the policies of the great contraction (which was also the period of greatest US economic growth), and generally supporting progressive principles (safety nets, progressive taxing, better social services etc) all make sense morally and economically.
Ideally anyone who wants to get an overview of economic policy in the 70s, 80s and early 90s should read this book. Krugman does an amazing job of des...moreIdeally anyone who wants to get an overview of economic policy in the 70s, 80s and early 90s should read this book. Krugman does an amazing job of describing supply side, strategic trading and general trends over that 30 year period - and he does it in a very fair, readable and humorous way.
Solid overview on markets and speculation. Most likely this should be required reading on what makes a bubble, what the market might have been like (a...moreSolid overview on markets and speculation. Most likely this should be required reading on what makes a bubble, what the market might have been like (as opposed to what we think its been like) and just a great overall read - albeit a little dry(less)
Fun enjoying romp into Salomon Brothers circa 1981 to 1987. I also came to realize that I'm typically the fool (the one who has limited knowledge, is...moreFun enjoying romp into Salomon Brothers circa 1981 to 1987. I also came to realize that I'm typically the fool (the one who has limited knowledge, is overconfident and is therefore ripe for the plucking)
A mostly fun book - at times very annoying (mostly due to the attempts at humor that fall flat), other times more a summation of other books (the life...moreA mostly fun book - at times very annoying (mostly due to the attempts at humor that fall flat), other times more a summation of other books (the life of Che and Mao were from books I've read) but when the book was good it was very good. Some wonderful insights into the madness of crowds
Fooled By Randomness was a much better, though only slightly similar book(less)
one of the best books I've read in years - Taleb give solid examples of how people can fool themselves with what's perceived to be true. Amazing book...moreone of the best books I've read in years - Taleb give solid examples of how people can fool themselves with what's perceived to be true. Amazing book and one that's going to get me started in behavioral psychology readings. (less)
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