The Predator State -- James K. Galbraith-- Review

The Predator State How Conservatives Abandoned the Free Market And Why Liberals Should Too by James K. Galbraith

This book is an attack on supply side and conservative economics. It argues against many accepted dogmas of current economics. There are discussions of price controls, planning, and national standards which are no longer part of the national policy debate. Numerous examples abound of how many accepted ideas are false. For example, James K. Galbraith argues that full employment is more effective for the economy because it limits waste of resources.

One of the central tenets of the book is that the free market is excessively focused on consumption and individual economic freedoms. These freedoms concentrate capital into a small number of economic hands. At the same while the free market has become sacrosant, the rights of labor have disappeared from the discussion, as well as the meaning of achieving the American dream.

This concentration of capital has created a new kind of politician. With excessive CEO pay, it allows corporate CEOs to move easily into the political sphere. Many of these corporate representatives turned politicians become predatory. Their primary interest is to extract resources from the government and turn it over to private corporations. James K. Galbraith gives numerous examples from Enron and Tyco, vouchers in schools, social security privatization, to efforts to deregulate entire industries. The majority of this extraction is occurring in programs that help the middle class.

Because most of this political and corporate activity is focused on short term profits, it often leads to financial instability in the United States. This is partially what caused the current fiscal crisis in the United States.

He further argues that the world financial trade system is not a system of free trade. The United States may not be able to maintain its position on top if it continues to generate more financial crises. The Euro or a combination of currencies could possibly take the place of the dollar.

This book is very biased against conservatives and libertarians. However, it has many important points to make. In many parts it is not an enjoyable book to read because it attacks so many basic beliefs. However, it does shed some light on the fiscal crisis in the United States.

James K. Galbraith is the son of John Kenneth Galbraith. James Galbraith holds to Keynesian economics which have gone out of style as well as many of the economic theories of John Kenneth Galbraith.

In the beginning of the book, the author states he is writing a popular book, not an academic treatise. I wish he had included some statistics and put in some charts and tables. It would have made the book far better. There is an index, but there is no bibliography. A bibliography would have been helpful. He footnotes the book, but does not include endnotes. The book is printed by the Free Press which is known for its focus on printing books with new and often radical ideas.

Morning Thoughts

Gymnastics For Youth

Morning Thoughts

Now that I have gotten past the first few chapters, it has become much easier to read The Predator State. It is starting to give a coherent argument on why supply side economics do not work. It argues that a regime based purely on savings with little or no tax on capital gains creates an environment of unequal income distribution focused on the idea that it is a natural right to hold onto capital. At the same time it does not give any natural rights to the producers of capital, labor. The ideas are quite provocative. I personally believe that there should be more incentive for investment than saving.

I was looking at the Fantagraphics site and noticed that they had just opened their own bookstore. It looks very cool. I wish that I could go to it in Seattle. Maybe when I visit my family there I will get to see it.

Fantagraphics Bookstore & Gallery1201 South Vale Street (at Airport Way S.)Seattle, WA 98108, Mon. - Sat 11:30 - 8Sun 11:30 - 5206-658-0110

This is a link to a story about it on the web.

http://www.fantagraphics.com/index.php?option=com_content&task=view&id=55&Itemid=126

I did a little bit more reading in Writing Begins With the Breath and a few more writing exercises. This poem is about a swing in the park when I was young that swung out over a
lake filled with green algae.

Mountain Lake Park

Swing over green water
Pump your legs back and forth
Feel the cool breeze

I took a short break to drive up to my local library. Because I am just getting back on my feet, I didn't want to stress myself too much.

I picked up a copy of the book donation form. I think that it is very well designed. We need a new one for our library. We also need a new poster for requesting donations. I am going to give it to the new director. I think I might also pick up some other samples of flyers to bring back as well.

Right now, I am sitting at the computers in the library typing away. I haven't been here for several weeks. It is very quiet here today which is almost a relief.

Home Again

A short rhyme for your entertainment.

Home Again

I am home again today. I am drinking chamomile tea right now. I found a lozenge candy that seems to help a bit better than regular cold medicine called Soothers whch combines echinacia, zinc, and vitamin c.

I wrote a short review of Too Many Curses. I also did a few more literary exercises from Writing Begins With the Breath. Here are two short poems that came from the literary exercises.

Death

I leave my old skin
And fly away, I know not where
I go skyward home

Body

A husk, an empty shell
With spirit floating away smokey white
Lingering in human thoughts

I rested some more and took some time to look at a few of the science fiction and fantasy art books which I collect. Some of my favorite artists are Arthur Rackham, Edmund Dulac, Richard M. Powers, Frank Kelly Freas, and Virgil Finlay.

The New Yorker has a series of videos on their website called The Naked Campaign. It is a series of short videos of a political cartoonist drawing cartoons of the presidential campaign. The videos are both faschinating and humorous. They are really fun to watch.

http://www.newyorker.com/online/nakedcampaign/videos

I finally went to the doctor this evening and he gave me some medicine in the office as well as some prescriptions. I am already starting to feel a little better.

I am reading The Predator State How Conservatives Abandoned The Free Market and Why Liberals Should Too by James K. Galbraith. The political partisanship in this book is so thick that even though I am liberal in many viewpoints, it seems like demagoguery. I am finding some of his points quite interesting and useful, but to find the points requires me to read various diatribes against libertarianism and conservatism.

I wish there was more statements of fact backed with quotes and citations. I am only fourteen pages into the book. This book is so partisan that it is almost impossible to read. I think, I will read it to find out the arguments. The content is not so great. The author seems to be seeking payback for the long period of government acting against Keynsian economics. James K. Galbraith is the son of John Kenneth Galbraith who I have a great deal of respect for.

Good Afternoon

An old clipping from the New York Times.

Good Afternoon

Good afternoon. I was reading the New York Times Book Review this morning and I came across a very interesting title; James Galbraith The Predator State How Conservatives Abandoned The Free Market and Why Liberals Should Too. It seems to have very strong mixed reactions. We need to read something different than what is happening now. James Galbraith is John Kenneth Galbraith's son. Maybe we will get a little wind too blow away the smoke and mirrors. I put the book on hold.

Also, Too Many Curses by A. Lee Martinez came in for me to read. I cracked the book today.

A. Lee Martinez has a website for his books. http://www.aleemartinez.com/ . I am definitely a fan of his work having read Gil's All Fright Dinner, and The Automatic Detective. I find him to be a humorous but versatile writer. I would compare him to Terry Pratchett or Robert Asprin.

Life keeps on going doing the usual things. I weeded a bunch of books in social sciences again this morning. I cleared off the 9/11 display and put up a display of current computer books that are coming in right now. I am trying to include books on devices as well as computers, cell phones, ipods, blackberries, game machines, digital cameras, and all the peripherals (or tethered devices) that go with computers.

I hope I get a chance to do more of the law looseleafs as well as ordering annual reports. None of this is easy.

I did a brief time putting looseleafs in the law books. I always pace myself when I do this. I try to do a little bit every day for an hour a day so it does not overwhelm me. It is impossible to finish most of the tasks I am doing in one sitting. On that note, I also ordered more annual reports. It is a long task once it starts. I ordered one book oriented annual report today, The New York Times Company.

I also placed a short list of social science books to order.

I am going to order more computer books tomorrow. They are literally flying out the door. There is a tremendous demand for computer books. The most popular computer books are photoshop and digital photography books. After this, we get requests for web design and blogging. We could probably never order quite enough computer titles.

On a less solemn note, I did some more writing exercises from Writing Begins With the Breath by Laraine Herring. This is a short poem from one of them.

Writing

Pen moves rolls and dips

Releasing black ink on the page

Nouns verbs form stories

I like to think of writing as a metaphor of a ship sailing on a sea trying to reach a distant land. The oars write on the sea moving the ship forward towards its destination. I am not sure where this came from, but it is a recurring theme which I experience when writing short poems.