Thursday, May 14, 2015

Thorsday Book Review - With Tank!

Well, this book will prove to you that I'm boring.  Who else do you know who would choose to read a book on economics?  They don't call it "The Dismal Science" for nothing.

by John Tamny

I saw this book reviewed in The Wall Street Journal (of course), and had to read it.  The subtitle refers to what Downton Abbey, Lebron James and The Rolling Stones can teach us about economics.  The book is divided into 4 parts; part 1 deals with taxes (defined a a price placed on work), including discussion of corporate, personal, capital gains and estate taxes.  He discusses at length how each of these types of taxes discourages work and/or savings, and advocates bulldozing the tax code and starting anew.  (Never gonna happen.)  He also asserts that running deficits is OK, as long as tax collections cover debt service.
Part 2 deals with government regulation; summation is that the government is not staffed by the best and brightest.  Further, they make the point that industry would self regulate regardless of the government's intervention: would drug companies want to be killing their customers with their products?
Part 3 is about Trade - specifically overseas.  He says trade deficits are OK, and outsourcing is good, because other types of jobs are created here to replace the jobs that disappear.  My economist son agrees, but I'm not sure I"m buying it.
Part 4 is about Money, specifically currency vs. the gold standard.  Enough to make your eyeballs roll into the back of your head.

Overall, very well written and informative. Very thought provoking.  Not exciting, but that happens with economics.  Still, a good read.  4/5

You can see that Tank was dressed to read this book; he has 4 ties of his very own.

 Of course, he also does the usual, puppy-like, snuffle in the grass type things.
Happy Thorsday, everyone!


STELLA and RORY from Down Under said...

Howdy Marjie. Thanks for the summary. Sorry but I won't be adding this to my reading list hehe. Have a wonderful weekend. No worries, and love, Carol.
P.S. I was born December 1959 so we may be a similar age.

Rhodesia said...

Think I will also give this one a miss :-) Keep well Diane

Big Dude said...

Very formal of Tank to wear a tie for the reading.

Two French Bulldogs said...

Good job Tank!
Lily & Edward

Pam said...

Probably not my type of book but I am glad you enjoyed it. :)

Tank is adorable!

Anonymous said...

Thanks for reminding me. I heard him interviewed on NPR and it sounded like an interesting read. (I don't buy the outsourcing bit, either, but that's the thing about economics -- it's not a science. So much of what happens depends on an unpredictable, fickle -- sometimes giddy, often frightened -- public.

(Tank is a babe magnet.)

SissySees said...

Yawn. I like econ better than accounting though, not that I plan to leisure read on either topic, but wouldn't the world be boring if we were all alike?!

Tank and his tie are too much. That's a hoot.

Lapdog Creations said...

Hi Tank!

Dexter said...

Not quite my cup of tea. I will file this one under "things I should know more about."