Governments
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Acquire Non-Diminutive Cognizance of Greenspanisms
On the one hand . . . But on the other hand . . . Yet . . .Alan Greenspan is a classic conservative, monetarist economist. His views fit nicely into that category. He also has a lively wit, which is normally well hidden behind the facade of "non-speak" that he specializes in. The author has considerately included some of Dr. Greenspan's most famous bon mots. His convoluted sentences are more famous across the planet, and deliberately so.
For when Alan Greenspan really speaks, as he did about "irrational exuberance" in the stock market a few years ago, the ground moves beneath the financial markets. So he has to be careful.
Care is also required because of politics. The Federal Reserve is supposed to be an independent body that is not part of the political process. Yet Congress can change its powers very easily. So the best approach is to hide in the shadows, as much as any 800 pound gorilla can.
This strategy is complicated by the fact that the chairman has to make many speeches, and has many required reports to Congress each year. So, Chairman Greenspan has to utter a lot of words while saying very little.
Perhaps the truest statement in the book was the quote about him pointing out that people on both sides of any issue quote Alan Greenspan as supporting their position. And that's the brilliance of these obscure sayings.
The only times he can be open is when he is in front of a group that doesn't matter. For example, he can praise the small community banks to the skies, because they are so small. Bring up Citigroup, and he has to move off in other directions.
The book that still needs to be written about Alan Greenspan is his art of saying much while communicating little. Now, that would be a book!
My favorite slant on Alan Greenspan was missing from this book. The financial news channel, CNBC, has developed a way to anticipate which way interest rates will go. It depends on the size of Greenspan's brief case when he goes into a Fed meeting. When it is thick, rates change. When it is thin, nothing happens. With a between-sized case, the bias between tightening or not may shift. Interstingly, they are often correct with this approach. And this story shows perfectly how much scrutiny he is under.
The man has done a fabulous job of running the Federal Reserve. We should not forget that in our focus here on his words. This is an area where actions speak louder than words, as they often do.
Now that we are off the gold standard, controlling the money supply is more important than ever because there is no limit on the potential to create inflation. As a former economic forecaster, Greenspan knows that economic forecasts are more often wrong than right. So you have to be vigilant and aggressive in anticipating problems. You will get a good sense of that perspective from this book. It will bring all of those words into a coherent sense of Greenspan's philosophy for you.
After you have finished absorbing these very long sentences, I encourage you to think about when in your life it is good to be balanced in your communications in order to moderate the response. Clarity is not always a virtue. But do be clear whenever it is important to get the point across. Follow Hemingway then. When obscurity helps, follow Greenspan.
May you aggressively pursue the opportunities in front of you, but in a balanced way that exercises extreme caution about the risks involved. In considering your choices, you should pause to consider how forecasting may not always be correct. Naturally, you will want to give full weight to the concerns that your hear as well. (This is my attempt at a Greenspanism, for demonstration purposes.)
One of A Kind
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Awesome!
Timeless commentary
Reagan speaksWhether you are Democrat or Republican, liberal or conservative, there is something here for everyone to identify with. Go to your local library and listen to this set. I guarantee at least half of you will wind up buying it. Enjoy and Take Care.

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And a Child Shall Lead Them.
September 12th
September 12th : We Knew We Would Be All RightThe emphasis is on the day after and all the days after and I can almost hear our First Lady's voice soothing our children in the aftermath. This story (written and illustrated by children) has a soothing charm that brings tears to your eyes and hope to your heart.

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Compact, heartbreaking, rare photosFinally, a haunting pair of photos -- top secret Long Tien in 1973, and another one, as mysterious as ever, from exactly the same angle and height (about 1000 feet above the runway), in 1995.
A compact, tightly-woven and compelling tale.
Sky is falling
Must read for anyone interested in SE Asia '60-'70 history
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Outstanding autobiography of a Delaware (and global) hero
Excerpts from the foreword by Peter Matthiessen"Far more than most conservationists, Dr.Peterson understood that environmental problems are not separable from social problems - poverty, world populations, the growing and dangerous inequities between rich and poor - all problems to which the Grand Old Party under Regan-Bush was increasingly indifferent."
"Since Russ Peterson for many years was closely associated with large industry, his book is an invaluable resource for all those in the business world who seek to support the fight for environmental and social progress at whatever level."
Learn from this inspirational book
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Significant but sometimes difficult to followThe book, which lacks an introduction or conclusion, may be challenging for modern readers. Locke's writing covers a wide range of topics; conquest, paternal power (i.e. the power that fathers have over their children), despotical power and his over-arching central concern, property.
The main ideas of the book are that government exists by the consent of the governed who found government for the purpose of securing their lives, rights and property. Locke frequently contrasts people who live in a state of nature (i.e. no government; people enjoy considerable personal freedom) and those that live under government. Under Locke's view of the social contract, men give up give up the unlimited freedom they enjoyed in the state of nature so as to secure their life, limb and property more securely under government. There is also some discussion of the idea of separation of powers; what is interesting here is that Locke does not use the traditional formulation (i.e. executive, legislative, and judicial), rather he discusses executive, legislative and "federative" (by which he means the conduct of self-defense and foreign policy) powers.
The type of government that Locke describes more closely resembles the system employed by Britain and Canada, more than the United States. He conceives of a monarch or prince at the top of the government (as in Britain and Canada; the Monarch is the Head of State), with the legislature representing the people (Parliament) and so on. This is not to deny that this book still holds value for Americans, as other reviewers have pointed out.
All that said, I would not recommend this particular edition of the book. The lack of introduction to put Locke in his historical context can make the book difficult to understand and some of Locke's 17th century references will simply be skipped over by most readers. However, if you simply want a copy of the book that is plain and plan to quote from it, this edition is quite useful. Each paragraph of the book is numbered allowing a researcher to precisely footnote information.
A reflection to the Declaration of IndependencePolitical Power and Natural state: He explains the need for civil government; by detailing life with the absence of civil government. This is the premature state of an entity; through this one can see the need and a role for a government structure. He begins by defining political power; which is the right of making laws with penalties varying with the nature of transgression. The laws are maintained for the preservation of property; the enrichment of the community and its defense.
He determines the need for civil government by expressing the state of society without a government. To maintain harmony; there is a need to maintain equality; this is the state of nature. The chief end for the human species is survival; to attain it we need life, liberty, health and property. These are natural rights that we have in a state of nature before the introduction of civil government, and all people have these rights equally.
The Natural State personifies a state of utopia; as it does not account for the realistic issues of violations of this natural state. There are no police, prosecutors or judges in the state of nature as these are all representatives of a government with full political power. In addition to our other rights, we have the rights to enforce the law and judge on our own behalf. We may intervene in cases where our own interests are not directly under threat to help enforce the law of nature. Still, the person who is most likely to enforce the law under these circumstances is the person who has been wronged. The basic principle of justice is that the punishment should be proportionate to the crime. When victims are judging a crime; they likely to judge it of greater severity than an impartial judge. As a result, there will be miscarriages of justice.
Slavery: Is the state of being in the absolute or arbitrary power of another. On Locke's definition of slavery there is only one way to become a legitimate slave. In order to do so one must be an unjust aggressor defeated in war. The just victor then has the option to either kill the aggressor or enslave them. Locke tells us that the state of slavery is the continuation of the state of war between a lawful conqueror and a captive, in which the conqueror delays to take the life of the captive, and instead makes use of him; only in this condition is slavery legitimate. Illegitimate slavery is the state in which someone possesses absolute power over someone else without just cause. Locke holds that it is this illegitimate state of slavery which absolute monarchs wish to impose upon their subjects.
Property: In evolution of the state of nature to civil government. It is the account of nature and origin of property, which leads to the explanation of why civil government replaces the state of nature. In discussing the origin of private property Locke begins by noting that God gave the earth to all men. Locke holds that we have a property in our own person. And the labor of our body and the work of our hands properly belong to us. The state of evolution for property is hunter/gatherer to agriculture to introduction of money; each development provides more flexibility and removes limitations of trade; creating economical inequality. The inequality may cause quarrels which increases the numbers of violations of the law.
The institution of civil government comes about because of the difficulties in the state of nature. Rather clearly, on Locke's view, these difficulties increase with the increase in population, the decrease in available resources, and the advent of economic inequality which results from the introduction of money. These conditions lead to an increase in the number of violations of the natural law. Thus, the inconvenience of having to redress such grievances on one's own behalf become much more acute, since there are significantly more of them. These lead to the introduction of civil government.
Social Contract Theory: Locke's argument for the right of the majority is the theoretical ground for the distinction between duty to society and duty to government. When the designated government dissolves, men remain obligated to society acting through majority rule. It is entirely possible for the majority to confer the rule of the community on a king, oligarchs or an assembly. Thus, the social contract is not linked to democracy; still a government must perform the legitimate function of government.
Civil Government: The aim of such a legitimate civil government is to preserve, so far as possible, the rights to life, liberty, health and property of its citizens, and to prosecute and punish those of its citizens who violate the rights of others and to pursue the public good even where this may conflict with the rights of individuals. In doing this it provides something unavailable in the state of nature, an impartial judge to determine the severity of the crime, and to set a punishment proportionate to the crime.
Classic: Must Read
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Shell Games
Dive in!
Shell Games--a great read
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How the Americans destroyed Cambodia.and the Thais) of Cambodia. The Vietnamese Communists have as much a stake in why Cambodia turned out as it did. I think Shawcross purposely overlooks this and points the finger at what he percieves as the evil doers of American policy--Kissinger and Nixon.
I think Shawcross does a good job of relating how the USA tried to salvage the intervention in Vietnam at the cost of destroying a small country. I think he proves that point. I also enjoyed his portrayal of all the principal American and Cambodian players in this drama. As I said, a more critical look at the Vietnamese would give this book a more even outlook. After I read this book, I understoon why Presidential Administrations did not involve Kissinger in future policy. Henry comes off as arrogant in the least, evil at the most. For more information on what happened after this time in Cambodia, please read Brother Enemy.
Back to the future -- Rome, Cambodia, Iraq ...An excellent summary of the events that overtook Cambodia, "Sideshow" has much more to offer to us today as we try to figure out how we reached this turning point in our history and recall how badly things can go wrong whenever we deviate from the principles upon which our nation was founded.
A book that makes you think!I found it in of all places, a outdoor market in the capital of Cambodia this summer. Cambodia is great for finding bootleg copies of any books on Cambodia.
Shawcross has written a well documented, researched, and written book on Cambodia's role in the Vietnam War. It was easy to read and it certainly made you think.
Unfortunately, I disagree with the tone of the book. And ultimately I disagree with the author's point of view. But anyone interested in the Vietnam War, Nixon, or what happened in Cambodia should read this book. I ultimately disagreed with the book, you may or may not, but regardless it is a book that is well written and will make you think.
Check this book out!

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An interesting book, but....Second, the end of Adam's otherwise very informative review is simply incorrect. China with a GDP/capita of around $4500 has NOT outstripped Russia at $9000 GDP/capita. This , of course, does not reflect at all on the book, but too often those who eschew statistical based political science run the risk of being way off in evaluating success/failure or change. Certainly not everyone, but I have seen this strong tendancy.
Remarkable Comparative HistoryMoore uses a hybrid Marxist analysis and turns it on its head by finding common conditions favorable to democracies and conditions that lead to fascist and commmunist dictatorships. Moore finds some common factors to successful transition to include a need for social change to accompany technological change, the strength of a "middle class" and the need to address the concerns of agrarian society.
In the end Moore believes that the industrial change took place at great cost in every society. The key to successful transistion to democracy was in how this "industrial revolution" was implemented.
Whether one agrees totally or not, "Social Origins" never ceases to be stimulating in its analysis.
Well thought out
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Painstakingly researched from firsthand accountsWell-written, consise, and highly credible.
A brilliant analysis of the Third Reich internal structure
A Masterful Work of History
The book contains selections from different Greenspan speeches given over the years. Most selections are prefixed with some scene-setting remarks by the author, Kahaner. The book doesn't have much structure to it -- the chapters are in alphabetical order (e.g., "Banks", "Capitalism", "Derivatives", etc). So you can skip back and forth without losing anything.
While Greenspan's speaking style is usually clear, he does have a roundabout way of talking. For example: "I don't want to suggest we're about to do anything at this stage, but I would confirm we are obviously going to do a great deal of thinking about the whole process." Somewhere else, he jokes: "I've been able to string more words into fewer ideas than anybody I know, and I'm continuing to do that."
Nonetheless, the reader can pick up most of Greenspan's opinions without too much trouble. For example: (a)Debt - bad. (b)Inflation - very, very bad. (c)Capitalism - hurray! His view on income distribution: "No society succeeds unless virtually all of its participants believe that it's fair and gives people opportunities." That one sounded all right to me, but his views on labor strike me as downright creepy; for example: "It should always be remembered that in economies where dismissing a worker is expensive, hiring one will also be perceived to be expensive."
On a subject of current political concern, the privatization of Social Security (or "modernization" is what they're calling it now, I think), Greenspan argues against it for workers already contributing to the system: "Investing Social Security assets in equities is largely a zero sum game." But he also suggests that allowing younger workers the option to move to a semi-privatized plan might be practical.
Greenspan maintains a pretty aloof tone in most of his speeches. For example, while touring the economically devastated region of South Central Los Angeles, he dryly observes, "We regulators are swamped with all sorts of data... It's important to put a face on the numbers." On the matter of dealing with others: "...beyond the personal sense of satisfaction, having a reputation for fair dealing is a profoundly practical virtue. We call it 'good will' in business and add it to our balance sheets."
A section near the end of the book contains remarks others have made about Greenspan. One economist sums it up best: "When Greenspan dies his headstone could read: 'I am guardedly optimistic about the next world, but remain cognizant of the downside risk.'"