Economist and lawyer Ian Ayres, or should I say, lawyer and economist Ian Ayres, hmm, . . . weighs in on Free Market Madness on his Freakonomics blog. Nice to see the words “hilarious” in a review, and not followed by a phrase like ” . . . in his ignorance.” Check out his post HERE.
In their book Animal Spirits, George Akerlof and Robert Shiller recount the intellectual battles waged between Milton Friedman and Paul Samuelson, two of the 20th century’s most important economists. Friedman was a huge believer in the power of markets, and in consumers’abilities to make rational decisions. Samuelson also recognized the power of markets, but thought…
“I just finished reading your book You’re Stronger than You Think and felt compelled to write you. I found it tremendously enriching from both a personal and professional point of view.”
That was the opening sentence from a recent e-mail I received from a complete stranger. Truth be told, it is impossible to get too many e-mails like this!
Read more…
Jon Meacham’s best-selling biography, Thomas Jefferson: The Art of Power, is at best a solid read, presenting the basic facts of Jefferson’s life competently but with little grace and an almost invisible point of view. Perhaps I have been spoiled by Robert Caro’s amazing series of books on Lyndon Johnson, four volumes so far that not only make Johnson come to life (his ruthless genius as well as his fascinating contradictions) but also illuminate a whole era in U.S. history, all the while enveloping readers in gloriously rhythmic paragraphs. It is not fair, perhaps, to compare any biographer to Caro. Meacham’s book, after all, is just a single volume, so it cannot explore Jefferson in the same depth that Caro portrays Johnson. Meacham also had the disadvantage of writing about a man who lived a couple hundred years ago, whereas Caro could interview people who knew the subject of his biography firsthand. In addition, Meacham is a busy man, running a publishing company and appearing on television shows, whereas Caro lives the life of an obsessive, dedicating the better part of his adult life to understanding the ins and outs of Johnson’s life.
Nevertheless, if you are going to write a book about an American president and subtitle it “The Art of Power,” you better expect some Caro comparisons.
As it turns out, however, being compared to Caro is the least of Meacham’s writerly problems. Because there is another great writer that readers won’t be able to ignore when making their way through Meacham’s book. That writer, of course, is Thomas Jefferson.
I’m going to give you a sprinkling of Jefferson’s prose in a bit, and follow-up later this week with several other great Jefferson quotes. But first, a little bit more on Meacham’s book. I was really disappointed, because in Meacham’s hands, Jefferson rarely comes alive on the page. Time passes by and suddenly the reader realizes: “Jefferson just became governor of Virginia? Was that something he was trying to accomplish? Which of the arts of power did he employ to reach that position?” Meacham never provides answers to these kinds of questions.
Fascinating new research sheds light on why so many people stick with dull jobs over trying something more exciting: They don’t expect to get paid enough to justify going after the more interesting options. Research into “effort aversion“ by Duke University Fuqua School of Business marketing professor Peter Ubel and David Comerford, an assistant professor at Stirling University found that in…
I don’t read much war history. I’m fascinated by what causes humans to end up in a state of war, but not so interested in the bloody details of how they fight their battles. Nevertheless, I thoroughly enjoyed The Day of Battle, a book by Pulitzer Prize winner Rick Atkinson. The book covers the war…
In a wonderful New Yorker article titled “The Hangover,” Nick Paumgarten writes about the strange mix of private and government forces that led to the Spanish fiscal crisis. In a wonderful sentence, he evokes one such force, the almost invisibility of debt: It is often hard to perceive an economic crisis. Debt doesn’t look like…