The Future Of Success: Working And Living In The New Economy (2002) - Plot & Excerpts
Long story short: the New Economy differs from the Old in that there is increased volatility, and a feedback cycle coming into play. Highly variable pay and prices are pitted against highly static needs like food, shelter, and childrearing.Unlike cable TV, one cannot skimp on food for a week because they can't afford their bills. Any time where the wave is lower than the needs, there is social stress from a mismatch.The feedback cycle results from the rich and creative becoming richer, which can beget creative children. For the smart among us, modern society is a miracle. We can earn 6 figure sums just from websites, from giving sound advice, to creating programs and music which millions enjoy. The opposite of a virtuous cycle, however, is a vicious cycle. Those who can't perform such feats are in the dumps.His solutions either smoothing out the sine wave, such as taxes on fast-moving imports or insurance policies to compensate people and communities under flux. If your income drops 50% in a single year, half of that will be covered.I personally see myself as one of the lucky ones, the smart people who CAN and WILL make it in life. I see the rewards as just compensation for what we contribute. The problem is that people have different senses of equality.I believe in O/I = O/I : for every ounce they give to society, everyone gets back the same amount. However, some people have more ounces to give, so they get more.But how do you define Input and Output? By how much you better society, or the hours you put in? It is when you compare those with valued skills vs. unvalued skills that the gulf is readily apparent.Although this book can be considered "bleeding heart," I feel that it is thought provoking enough that people who want to change the world should read it, if only to determine how they want to change it.
Informative but depressing book on how the new economy is changing the way society functions. Individual choice to live the best life we can is exacerbating income inequalities and difference in opportunities b/w resource rich and resource poor populations.Reich states the challenge is how to live in a new economy with its rapid changes while keeping our values such as family, community, and friends. Even though we all seek balance, Reich suggests that we work longer and harder than previous gen
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