My adoration of David Stockman’s book The Great Deformation was, I hope, made abundantly clear with my extensive review of the tome (and, judging from my Amazon Associates page, an astonishing number of folks bought the book, including one chap who bought thirteen copies!). One of the charms of the book is its colorful language. For no particular reason, I dreamed up a drinking game based on the book; and, given the future that the book predicts, it probably wouldn’t be a bad idea to be fully inebriated for the days ahead. Thus: (more…)
They say there’s a first time for everything, and that applies to me today – – – although not very dramatically: I’ll be spending a portion of the afternoon doing my first Audible, Inc. session recording my book, Panic Prosperity and Progress (which, for those of you who don’t know about it, is described here………..). I’ve been delighted at the reception the book has received (Amazon has 19 reviews, last time I checked, and the average review is the highest 5-star rating. Anyway, I’ll be doing many recording sessions, because I’m told I’ll need to read for about 40 hours to get through all the sessions……….see ya later.
Most of you read my review of David Stockman’s Great Deformation last weekend. Our own beloved BDI goaded me into reading it (and I’m grateful he did), but BDI kicked it up a notch by reaching out to David Stockman to share the review with him. Lo and behold, I now find my review on his home page. I guess it’s a little odd to be star-struck by the Director of the OMB in Reagan’s White House, but I’m a child of the 80s, after all. Thank you, BDI!
This is going to be a review of David Stockman’s 768-page tome The Great Deformation, and
although I never thought it was possible, it makes me angry to write this book review.
I’m not angry because I don’t like the book. On the contrary, this is the best economics book I’ve ever read. Indeed, it may be the best and most influential book I’ve ever read in my life. I only wish I had read it the moment it was published in April 2013. I only finished reading it today, and for the entire time I’ve been plowing through it, I’ve been trying to think of what I would say in this review.
Why am I angry, then, to write this? Bluntly stated, because nothing I can say will make what I want a reality. And what I want is for every literate person in the United States to read this book, cover to cover. I want them to read it. I want them to understand it. I want them to agitate for the changes that it recommends. (more…)
Just a scant 15 years ago the internet and everything we now take for granted was almost unimaginable. If you were placed in hibernation then only to wake now it would be the equivalent of being a Quaker suddenly transported to the deck of the Enterprise.
Smart phones alone are only 8 years old and the Blackberry™ (a what?) was at the time a marvel of marvels. Today? What is the same is Amazon’s business model. i.e., Sell at break even if not a loss, for as long as it can till they are the dominant (if not only) choice.
The “for as long as it can” part of that statement is what I believe is now jeopardizing that model. Amazon is still if not more convenient as ever as a first go to place to check prices and more. But (and it’s a very big but) it is far from the absolute price dominator on all items it was in respect to just 4 or 5 years ago. (more…)
For those not up to speed on the war of words (quite literally) between Amazon™ and Hachette™, it basically revolves around one central theme: Amazon believes a price should be X, and Hachette believes it should be Y. So the question everyone is asking is, “Who’s right?” In my view that’s the wrong question to even begin with.
The reason being is this (and I’m not trying to be coy) both are correct if you understand what the real question and answer should be, and that is: Whomever owns the product owns the right to price. Whomever owns the distribution point (or the store) owns the right to carry it or not. Period. (more…)
The markets aren’t exactly a rich, loamy soil for planting prose these days, so I was trying to think of something to write about this weekend. I glanced at my bookshelf and noticed a favorite of mine, The Fourth Turning: An American Prophecy – What the Cycles of History Tell Us About America’s Next Rendezvous with Destiny, which a couple of readers have mentioned to me again recently. I grabbed the book on the way out the door, thinking it would be a terrific thing to write about.
With the thousands upon thousands of posts I’ve done on Slope, I often forget what I’ve written about in the past, and this was no exception. Before I started putting together my long post on the book, I did a search for “Fourth Turning”, and voila – – been there, done that.
On re-reading what I wrote nearly two years ago, I noticed a few things: (more…)