I. David Rosenstein's Blog: Focus on Non-Fiction , page 3

Book Review: The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy

An Alternative Monetary Policy That Falls Short of Viability

In The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy author Stephanie Kelton explains Modern Monetary Theory (MMT) and how it can be used to transform our economy. While Kelton did an excellent job of explaining MMT on a level that could be understood by all readers she failed to convince me that the government should adopt MMT as the basis for its budgeting process.

Current government budgeting practice treats the government budget like a household budget. In other words, the government can only spend funds that it recovers through borrowing and collection of taxes. Negotiations for a such a balanced budget are between budget doves who fight for additional spending to support social programs and budget hawks who fight for reduced spending to support reduced taxes.

In the first portion of her book Kelton explains that MMT rejects the concept that the Unites States’ budget operates the same as a household budget. More specifically, she contends that the United States does not run a fiscal deficit if it fails to collect sufficient taxes to cover its expenditures. Instead, as the issuer of the currency, the United States can print as much money as it needs to meet all of its expenditures, including enough to guarantee full employment for all of its citizens. Under MMT the government only needs to limit the issuance of currency (or to collect taxes) if, and as, needed to control inflation.

Kelton should have stopped at this point. She clearly explained MMT and suggested it as a viable alternative to current orthodox budgeting practices.

However, after explaining MMT Kelton deviates into a description of all of the great social programs that could be paid for with the additional funds that MMT would make available. For example, she advocates elimination of what she refers to as the “education deficit”, the “housing deficit”, the “health care deficit” and the “infrastructure deficit”. As a result, her clearly explained alternative to the current government budgeting process is buried by an argument for all of the social programs advocated by progressives.

The only current control on government spending are the budget hawks who represent their fat cat donors who seek to lower their taxes. Kelton worked in Congress long enough to know that these budget hawks will not just sit back and watch as the government uses any new found funds to support social programs. They will do what they can to eliminate as many taxes as possible and then to figure out how these funds can find a way to their donors’ pockets. While everyone is fighting over how to distribute these new funds I fear that there will be little concern about the potential impact of this spending on inflation (the one issue that Kelton says should limit government spending). The current process, misguided as it may seem under MMT, at least has not led to inflation caused by injection of too much currency into the economy.

After reading this book I am convinced that there may be some theoretical merit to MMT. But Kelton failed to convince me that MMT should be adopted by the government as the basis for its budgeting process. I fear that the extra funds made available under MMT will not fix all the problems described by Kelton and could raise a real possibility of ruinous inflation. I give this book 3 stars.

Book Review:Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy

A Revealing Description of the Decision Making Process in the Nixon White House

In Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy, by Jeffrey E. Garten, tells the story of how President Richard Nixon and his top advisors developed a plan to abandon the post-World War II international monetary system (known as the Bretton Woods system) under which exchange rates were fixed and the United States guaranteed that it would exchange gold at a rate of $35 per ounce.

This book is a stark reminder that Nixon’s time in office consisted of much more than the Watergate scandal. He was the President that opened relations with Communist China, he dealt with an economy in stagflation, and he wound down the War in Viet Nam.

In 1971 the United States was experiencing both high inflation and high unemployment. There were a number of reasons for these problems. One of those reasons was the international trade imbalances caused, in part, by the United States’ commitments under the Bretton Woods system. The policies adopted by Nixon and his team at the meeting at the Camp David were an effort to get out from under those commitments. International monetary policy is a very complex subject. While Garten tries to provide necessary background so that the reader can fully understand the issues described in his book, many readers may not be able to keep up.

However, this book is about far more than the policy decisions made at Camp David. Readers who do not fully comprehend the technical concepts presented in this book should appreciate Garten’s detailed descriptions of Nixon’s decision making process and his interactions with his advisors.

Garten explains that Nixon fully understood that something had to be done to change the United States’ commitments under Bretton Woods. However, he makes it perfectly clear that Nixon was primarily concerned that any such changes be explained in a way that did not impair his chances for re-election in 1972. And while Nixon consulted his top advisors for their opinions he was quick to bully them into agreeing with his position if he thought his position would be more favorable with the public.

Richard Nixon was an extremely complicated person who made highly important decisions at a critical time in our country’s history. Three Days at Camp David successfully describes his thoughts and his decision making process. It is a revealing and informative read and I give it 4 stars. I recommend it both for those who have an interest in international monetary policy and for those that have an interest in Richard Nixon and his decision making process.

Book Review:Kennedy’s Avenger: Assassination, Conspiracy, and the Forgotten Trial of Jack Ruby

The Trial of the Man Who Killed a Killer on Live TV

In Kennedy’s Avenger: Assassination, Conspiracy, and the Forgotten Trial of Jack Ruby authors Dan Abrams and David Fisher tell the story of Jack Ruby’s trial for the murder of Lee Harvey Oswald. That murder was broadcast live on television from the basement of the Dallas Police Headquarters just two days after Oswald was arrested for the assassination of President Kennedy.

Jack Ruby’s trial was highly controversial at the time. It was held in Dallas, Texas, a city perceived by the broader public as somewhat lawless because of the Kennedy assassination, Oswald’s subsequent murder of a police officer and, finally, Ruby’s murder of Oswald. Reporters from hundreds of newspapers throughout the world attended and reported on each day of the trial. As reported by Abrams and Fisher, officials in Dallas hoped that those reporters would depict Dallas as a civilized city that could provide a fair trial to an accused murderer.

The facts in the case are clear. Ruby fired the shot that killed Oswald in the basement of Dallas police headquarters. But the circumstances surrounding those facts are not as clear. For example, why was Ruby at police headquarters? How did he know when Oswald was going to be moved? Was he carrying a gun with the intent to murder Oswald or did he regularly carry a gun and act on impulse when he saw Oswald? In their gripping description of the day by day testimony the authors continually reveal possible answers to these and other questions that are suggested by the prosecution and the defense.

In addition to the above issues surrounding the circumstances of the murder Abrams and Fisher also deal with broader issues involved in the case: For example, Was Ruby legally insane at the time that he committed the murder? Was Ruby part of a broader conspiracy to assassinate the President? Could Ruby receive a fair trial in the charged atmosphere of Dallas, Texas? The authors do not provide conclusive answers to any of these issues. They do, however, provide enough information for the reader to draw his/her own conclusions.

While this is clearly a well written and entertaining story about a controversial trial, it is just as much a story about the people in that trial. Ruby’s attorney Melvin Belli (known as the “King of Torts”) seemed to be more concerned with winning a trial using his esoteric legal theory than in acting in the best interests of his client. Judge Joe B. Brown appeared to be more concerned with his own opportunity to dispense “Texas” style justice than in making sure that Ruby received a fair trial. And Ruby, himself, appeared to be a highly troubled person who sinks deeper and deeper into a confused state as the trial proceeds around him.

I liked this book very much. It is a well written story of the trial of the man who is famous for killing the killer of a United States President on live TV. While the story has been the subject of numerous conspiracy theories, the authors manage to stay away from those theories and rely solely on the record to describe the trial and its participants. While I vaguely remember the trial and its aftermath I did not remember the specifics and I was genuinely surprised when the authors described its outcome. I give this book 5 stars and recommend it for everyone.

Book Review: In Search of a Kingdom: Francis Drake, Elizabeth I, and the Perilous Birth of the British Empire

Not Really What Was Promised

In Search of Kingdom: Francis Drake, Elizabeth I, and the Perilous Birth of the British Empire by Laurence Bergreen is an interesting book about the intersection of the rule of Elizabeth I and the career of Sir Francis Drake. It is not, however, a book about the “birth of the British Empire”.

I expected a book about the “birth of the British Empire” to detail how Britain established its first overseas possessions and trading posts. This is not what this book is about. The bulk of this book focuses on Sir Francis Drake’s circumnavigation of the globe from 1577 to 1580. Bergreen goes into extensive detail regarding Drake’s navigation of the seas and the dangers that he confronted during his trip. Prior to Drake only the Spanish had sailed around the globe and explored the Pacific and the the Western coast of the Americas. Drake’s trip, therefore, was a milestone for British exploration - putting it on a par with Spanish exploration. But the mere fact that he completed the circumnavigation did not constitute the “birth of the British Empire”.

As explained by Bergreen, Drake was as much pirate as explorer. His attacks on and plunder of Spanish ships, both during and after his circumnavigation, made him feared by the Spanish. And his participation in the defeat of the Spanish Armada helped to establish Britain as a power that could challenge Spain. But, once again, like the circumnavigation itself, Britain’s new status as a naval power was not the “birth of the British Empire”.

Bergreen suggests that Drake may have given Elizabeth I some portion of the riches that he plundered from the Spanish. He further suggests that Elizabeth may have used those riches to finance exploration of territories that were later claimed by Britain. If this were the case I might agree that there is a nexus between Drake’s adventures, Elizabeth I and the birth of the British Empire. But there is very limited discussion of this possible nexus in the book. And that is probably because, as Bergreen explains, Elizabeth purposely kept the source of her funds and her relationship with Drake somewhat murky. So there is no proof that the loot plundered by Drake from Spanish ships led to creation of the British Empire.

Overall this book was something of a disappointment. The title suggests that it was going to be about the beginning of the British Empire. Instead, it turned out to be a book about Drake’s circumnavigation of the globe, his plundering of Spanish shipping, Elizabeth I’s rivalry with Spain’s King Phillip II and the British defeat of the Spanish Armada. While these are all very interesting subjects they are not what was promised. I give this book 2 stars.

Book Review: War on the Border: Villa, Pershing, the Texas Rangers, and an American Invasion

Fascinating Look Back at a Time When the United States and Mexico Were on the Brink of War

In War on the Border: Villa, Pershing, the Texas Rangers, and an American Invasion author Jeff Guinn takes the reader back to 1915-1917, a time when the United States was on the verge of war with its closest neighbor to the south. Its combination of political intrigue and military action makes this as riveting a page turner as anything that I have read in some time.

It is impossible to read War on the Border without considering it within the context of current conditions at our southern border. Today the border is a place where Mexicans and Central Americans line up to enter the United States seeking to escape poverty and violence in their own countries while the United States Border Patrol ensures that these prospective immigrants conform to the United States’ immigration laws. In the time described by Guinn the border was a place where Mexican bandits, especially those led by Pancho Villa, conducted raids on American cities, the United States Army led by John Pershing and George Patton pursued Villa into Mexico and the Texas Rangers summarily executed anyone of Mexican decent that they suspected of assisting Villa.

The action described by Guinn takes place during the Mexican Revolution. It was a time when leadership of Mexico changed multiple times and each of the successive leaders had to contend with revolutionaries who were seeking to control all or parts of the country.

Pancho Villa was one of those revolutionaries. He conducted raids both in northern Mexico and across the border into Texas hoping to draw the American military into Mexico so that he could accuse the current administration, led by Venustiano Carranza, of failing to drive them out. Guinn vividly paints Villa as the flamboyant character that he was. He considered himself to be the champion of the people and, to promote his efforts, had film crews follow him into action. During his years as a revolutionary he suffered numerous defeats only to return to the battlefield again and again.

On the American side President Woodrow Wilson talked tough to Mexico and threatened military action if the Mexico federales did not capture Villa. But Wilson was actually hoping to avoid an armed conflict with Mexico so that he would have troops available for a potential entry into World War I. Needless to say, the Germans got involved, doing what they could to stir up trouble between Mexico and the United States so as to tie up American troops and make them unavailable for participation in World War I.

Most of the narrative histories that I read are entertaining and informative. But War on the Border is one of the few that reads like a true adventure story. I give it 5 stars and recommend it for everyone.

Book Review: The Holly: Five Bullets, One Gun, and the Struggle to Save an American Neighborhood

Inspiring Story of the Life of a Former Gang Member

In The Holly: Five Bullets, One Gun, and the Struggle to Save an American Neighborhood Julian Rubinstein confronts gang violence in Denver. I have been a fan of Rubinstein’s writing for some time and I was pleased to find that The Holly is as good as or better than his first book, Ballad of the Whiskey Robber.

The Holly is the story of ex-gang member, Terrance Roberts. Roberts, then known as ShowBizz, had been a member of the Bloods, the gang that controlled an area of North East Denver whose hub was the Holly Square Shopping Center.

Rubinstein traces the history of the African American community in Denver and describes how Roberts went from being an honor student to a gang leader to an anti-gang activist. According to Rubinstein, Roberts grew up idolizing the members of the local gang, viewed as the defenders of his neighborhood. He eventually became a member himself and then went to prison for gang related violence.

During the 10 years that he spent in prison Roberts learned about the teachings of Martin Luther King, Jr. and Malcolm X. In 2004, when he was paroled, he committed himself to saving his neighborhood by preventing young people from becoming members of the gangs.

He started the Prodigal Son Initiative which gave children in the neighborhood a safe place to go that was away from gang influence. He also started an organization called the Cammo Movement which sought to end gang violence. Roberts became something of an authority on anti-gang violence contributing his expertise and energy to both local and national projects.

Roberts initially participated with local business and political leaders on community development and anti-violence projects. But he saw that the community development projects led to the gentrification of the neighborhood rather than to safer living conditions for existing residents. And he felt that there was too much police participation in the peacekeeping projects. He eventually stopped participating in these projects to focus on his own projects.

Because of his anti-gang violence efforts, Roberts was viewed with suspicion by the gang members. They accused him of being a snitch and he had reason to believe that his life was in danger. In 2013, prior to commencement of a peace rally that he had organized, Roberts shot Hasan “Munch” Jones. He claimed it was in self-defense but was charged with attempted murder, first-degree assault and possession of a weapon.

This is when Rubinstein inserts himself into the story. It may be unusual for a writer to go from third person historian to first person reporter in the same work. However, it works well here. Rubinstein grew up in Denver, although not near the Holly, and his personal recollections and observations add valuable texture to the story.

Based on his interviews with Roberts, gang members, local officials, policemen and others Rubinstein vividly describes all of the challenges that Roberts faced during the years prior to the shooting. While doing all he could to end the gang violence and to keep young kids from joining the gangs, Roberts dealt with the constant killings, gang members who were paid police informants, duplicitous fellow anti-gang activists, and local officials who marginalized his efforts to satisfy the desires of the business community.

The gripping denouement consists of Rubinstein’s description of how Roberts tries to hold his life together while awaiting trial and then his blow by blow description of the trial itself.

More than anything this is a book about one individual’s courage. Roberts was single-minded in his desire to help his neighbors have a better and safer life. And he was not going to let the gangs or the police or the local officials distract him from his goal. I cannot go so far as to describe a book about gang violence as a “feel good” story. But I will call this book inspiring. I give it 5 stars and recommend it for everyone.

Book Review: The Great Dissenter: The Story of John Marshall Harlan, America’s Judicial Hero

Biography of a Lone Voice for Equal Protection Under the Law

In his book, The Great Dissenter: The Story of John Marshall Harlan, America’s Judicial Hero, Peter S. Canellos tells the story of John Harlan, the only Supreme Court Justice who dissented in Plessy v. Ferguson, the 1896 case in which the Court approved “separate but equal” treatment for African Americans. Canellos considers Harlan to be “the great dissenter” not only because of his opinion in Plessy but also because of his well-reasoned and forward-thinking dissenting opinions in cases involving worker safety, anti-trust law, and the government’s ability to tax individual’s income. But it is his dissenting opinion in Plessy for which Harlan is best known.

The majority opinion in Plessy set the stage for the Jim Crow segregation laws that remained in effect until the Civil Rights Act of 1964. That opinion held that the States were within their rights to separate the races because the African American race was inferior to the white race. Unlike his brethren, in his dissent, Harlan argued that the Constitution was color blind and that, under the 14th Amendment, the States were prohibited from making any distinction between the races. Those who advocated for equal rights for African Americans always viewed Harlan’s dissenting opinion as prescient. And after additional legislation and Supreme Court rulings his opinion does, in fact, describe today’s application of the 14th Amendment.

Harlan’s dissenting opinion in Plessy has long been a subject of study for legal scholars and civil rights advocates. It does not necessarily follow that there is a need for a 500 page biography of Harlan himself. However, Canellos’ book makes clear that there is such a need. He addresses the question of why, during a period of almost universal animosity of white Americans toward African Americans, one man stood up, scolded his brethren for their views, and succinctly explained why the Constitution prohibited the type of segregation that was about to take hold in the country.

John Harlan was not, by any means, an abolitionist. He grew up in Kentucky as part of a slave-owning family. But he loved his country and did not want to see it divided. When the Civil War began he successfully encouraged his fellow Kentuckians to not join the other Southern States and secede from the Union. Harlan was a protege of Henry Clay, the great compromiser, and, like Clay, he would have agreed to almost anything, even an extension of slavery, to bring the South back into the Union.

So how did this man, who seemed so ambivalent towards slavery, end up writing the landmark judicial opinion affirming equal protection under the law for African Americans? Canellos provides several suggestions, any or all of which may be the answer. First, there is Harlan’s commitment to the law. The same man who saw no problem owning slaves when the law permitted it could have been adamantly opposed to segregation once the 14th Amendment provided for equal protection for all Americans. Second, there was the post-war violence against the African American community. Once the War was over and the slaves were freed Harlan was shocked and appalled by the violence perpetrated against the community by members of the Ku Klux Klan. Finally, there was Robert Harlan, a mixed race slave raised in Harlan’s own home, who, after buying his own freedom, became part of the African American elite community. It would have been hard for Harlan to accept the concept that there was something inferior about the African American race after seeing, close up, the resounding success of Robert Harlan.

I do not know that Canellos has convinced me that Harlan is a “Hero”. Harlan should certainly be admired for his ability to focus his opinions on the requirements of the Constitution rather than on the general mood of the public. However, he was never able to assemble a majority of the justices behind his opinions and, thus, did not move the law in his direction. Nevertheless, for many years, his dissenting opinion in Plessy provided a beacon of hope for members of the African American community hoping for an end to the Jim Crow laws.

Overall I liked this book, especially the discussion of Harlan’s life and the evolution of his thinking. Even though I am an attorney and am used to reading lengthy legal analysis, I think the description of some of the cases in which he dissented could have been shortened. Nevertheless, I give this book 4 stars and recommend it for anyone interested in the dealings of the Supreme Court or the history of civil rights in America.

Book Review: By the Light of Burning Dreams: The Triumphs and Tragedies of the Second American Revolution

A Compelling Trip Back to the Tumultuous 1960s and 1970s

By the Light of Burning Dreams: The Triumphs and Tragedies of the Second American Revolution, by brother and sister David and Margaret Talbot, tells the stories of some of the most radical leaders of the 1960s and 1970s. The Talbots vividly bring these these activists back to life, both as a refresher for those of us who were there at the time, and for members of younger generations, who might not be familiar with their exploits.

The Talbots make the argument that the radical leaders of the 1960s and 1970s sought to complete the dream of the first Revolutionary War by working to extend, the full protection of the Constitution to all Americans. In support of their argument they focus on Bobby Seale of the Black Panthers, Heather Booth of the Jane Collective, peace activists Tom Hayden and Jane Fonda, United Farm Worker leaders, Cesar Chavez and Dolores Huerta, Craig Rodwell of the Gay Pride movement, celebrity peace activists, John Lennon and Yoko Ono and American Indian Movement leaders, Dennis Banks, Madonna Thunder Hawk and Russell Means.

During the period when these people were most active it was impossible not to feel strongly about them. They all had many followers and admirers. But they were also reviled by many others. Most were considered by the administration (mostly the Nixon administration) to be very dangerous and, as such, were hounded by the FBI.

The Talbots do not generally take a position on their subjects. They simply present them as real people, with real people flaws, who had the courage to risk their own safety and freedom to seek what they thought was right.

With all of the unrest in America today it is a good time to look back on the lives of these combative reformists to remember what drove them, how they responded and what impact they had on our society. By the Light of Burning Dreams is a moving and evocative trip back to the 1960s and 1970s and reminds us that, no matter how tumultuous our current times seem, we actually have survived even more tumultuous times.

I liked this book very much. It illuminated the real personalities of highly controversial figures from a highly controversial time. It took on a subject that, at one point, would have been highly charged, and presented it in a non-judgmental way so that all readers can appreciate the radical events of the 1960s and 1970s as a historical era that may provide some insight to the conflicts of our current times. I give it 5 stars and recommend it for everyone.

Book Review: When We Were Arabs: A Jewish Family's Forgotten History

A Unique Perspective on the Impact of Creation of the State of Israel

When We Were Arabs: A Jewish Family’s Forgotten History by Massoud Hayoun is a unique perspective on the human impact of the creation of the State of Israel. There are many books that describe the European Zionists who created the State of Israel. And there are other books that describe the fate of the Palestinians who lost their homes when Israel was created. This is a rare book that describes the fate of two Jewish families living in Arab countries whose lives were forever changed first, because of European colonization, and then, because of the Arab response to Zionism.

Hayoun says that he wrote this book to “breath new life” into the story of his maternal grandparents, Daida and Oscar. Hayoun based his book on diary entries written by his grandparents, stories told to him by his grandparents and old Arab movies that he watched with his grandparents. In essence, this is a memoir of Hayoun’s grandparents as told to the author.

The family of Hayoun’s grandmother, Daida, was from Tunisia. The family of Hayoun’s grandfather, Oscar, was from Morocco by way of Egypt. According to Hayoun, Daida’s and Oscar’s families lived in Arab lands for many centuries. He explains that, although they freely practiced their Judaism, they enjoyed friendly relations with their Muslim neighbors and shared their taste in dress, entertainment and culture in general. He makes clear that the culture of the Arabian Jews was nothing at all like the culture of the Ashkenazi Jews living in Europe.

The point of Hayoun’s story is that Jews living in the Arab countries were doing just fine before French colonization, the British Mandate and the creation of the State of Israel. And that is especially true for his grandparents’ families. His grandparents’ families were moderately successful and they each expected to continue to live successful and peaceful lives like their parents and grandparents.

But that all changed when the French took control of North Africa. Hayoun derisively refers to the French, the British and the Zionists collectively as the “colonizers”. He says that the French drove a wedge between the Arab Jews and their Muslim neighbors and that the British and the Zionists caused a backlash against the Jews by their local governments. As a result, Daida and Oscar were forced to leave their expected lives behind and to emigrate to Israel, then to France and finally to the United States where they traded their rich Arab culture for a Western way of life.

I found this book to be very well written and enjoyable. I certainly cannot blame Hayoun’s grandparents for resenting the fact that they were forced to leave their native lands and their expected lives. But I was left wondering whether their lives, before the arrival of the colonizers, were actually as peaceful and carefree as described by Hayoun. I wonder whether, after losing their expected lives, they may have inadvertently idealized their recollections of the lives of Jews in the Arab lands. The author does not confront this possibility. Instead he accepts and relates their stories exactly as he received them. For this reason I give this book 3 stars.

Book Review: The Bomber Mafia

A Highly Entertaining and Informative Look at Military Strategy

In The Bomber Mafia author Malcolm Gladwell describes the development of the United States Army Air Forces’ strategy for bringing World War II to an end. He explains that advocates for strategic bombing thought that they could hit crucial targets and, thus, destroy the enemies’ military capability while limiting casualties. Advocates for firebombing argued that casualties are an unavoidable component of war and that only by causing mass casualties would the Army Air Force force the enemies to lose their will to fight and, thus, shorten the war.

The Bomber Mafia is basically a story of people and how they deal with the horrors of war. Gladwell focuses mainly on Major General Haywood Hansell, as the major advocate for strategic bombing, and on General Curtis LeMay, as the major advocate for firebombing.

This book is an exciting thought provoking look at the events that ended World War II. I was lucky enough to listen to the audible version of the book. And this was an experience unto itself. Gladwell included all of the production elements of his popular Revisionist History podcasts. There was music and sound effects and clips of interviews with all of the main players. Thus, the audio version was both highly entertaining and informative. I give it 5 stars and recommend it for everyone.