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Title: One Market Under God: Extreme Capitalism, Market Populism, and the End of Economic Democracy by Thomas Frank ISBN: 0-385-49504-8 Publisher: Anchor Pub. Date: 18 September, 2001 Format: Paperback Volumes: 1 List Price(USD): $14.95 |
Average Customer Rating: 3.57 (35 reviews)
Rating: 5
Summary: Bursting the bubble
Comment: Thomas Frank's One Market Under God is an important book and offers interesting insights into the stock market hysteria of the nineties while capturing the sense of delusion of those who remained bewildered in the economic sidelines. Frank academically dissects the New Economy and reveals its emptiness. It's a sort of "Extraordinary delusions and the Madness of Crowds" of the modern age. While Frank's style may be pedantic at times, he reveals a pungent and welcome sarcasm that we'll have you laughing in revenge at all the hype of the market and its instruments form 'lifestyle' magazines to over-produced television commercials. One of his biggest and most effective targets is the magazine "Fast Company". The main argument of the book is that in the nineties the public at large has been convinced that markets were the ideal solution to all ills, social and economic. This occurred to such a degree that the market champions became popular heroes, while the snobs were those who criticized or were skeptical of the market's all-powerful mantra. Frank presents the media and corporate manufacture of the rhetoric and - let's say it 'frankly' propaganda'- that fueled the market bubble and myth as the Keynesian economic system was rapidly being dismantled under our noses. I recommend reading this entertaining as well as thorough analysis with another fascinating look at the emergence of market economics dominance, "Turbo Capitaliosm" by Edward Luttwak and "Globalization and its Discontents" by Jospeh Stiglitz - ironically one of Bill Clinton's top economic advisers. Also look for Thomas Frank's articles in the magazine he edits "The Baffler".
Rating: 2
Summary: funny, but academically disappointing
Comment: This work is very entertaining and certainly does a good job at poking fun at the 90's bubble. However, as an academic work, it falls far short. Frank misrepresents the arguments of several of the authors he quotes; for example, he paints Thomas Friedman's book The Lexus and the Olive Tree as vehemently pro-globalization, when in fact that book explores rather thoroughly the negative consequences of globalization. Frank is trained as an historian and it shows when he discusses economics. Anyone who tries to put Edward Luttwak and Paul Krugman on the same boat clearly has no idea what he's talking about. Furthermore, the main points Frank seems to be making are totally unfalsifiable: e.g., workers should be paid a fair wage, poverty is bad, people in third world countries shouldn't be exploited, etc. Far too often Frank falls back on the fact that the 90's business establishment was trying to be "cool" as a point of criticism. Apparently, his beef with the corporate world is that they are all just a bunch of poseurs.
As one can see from the reviews already posted, the anti-globalization people are really creaming their pants over this book. I find that to be a shame; if you want to oppose globalization, fine, but at least justify your position on reputable sources. In that regard, I would recommend Globalization and its Discontents by Joseph Stiglitz, who is actually an economist (and a Nobel prize winner at that). The one positive consequence I can see coming from anyone reading this book is that he or she will go out, read the works Frank quotes, and then eventually realize how misguided his arguments actually are.
Rating: 1
Summary: complete lack of logic
Comment: I could barely finish the first chapter without wanting to sell the book immediately on half.com. This book is for those who following with reasoning. Very little analysis; tons of quoting and witty but angry condemnation.
Waste of time.
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Title: The Conquest of Cool: Business Culture, Counterculture, and the Rise of Hip Consumerism by Thomas Frank ISBN: 0226260127 Publisher: University of Chicago Press (Trd) Pub. Date: October, 1998 List Price(USD): $17.50 |
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Title: Commodify Your Dissent: Salvos from the Baffler by Thomas Frank, Matt Weiland, Tom Frank ISBN: 0393316734 Publisher: W.W. Norton & Company Pub. Date: October, 1997 List Price(USD): $15.00 |
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Title: The World Split Open: How the Modern Women's Movement Changed America by Ruth Rosen ISBN: 0140097198 Publisher: Penguin USA (Paper) Pub. Date: 02 January, 2001 List Price(USD): $15.00 |
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Title: Magical Urbanism: Latinos Reinvent the US Big City by Mike Davis, Roman de la Campa ISBN: 185984328X Publisher: Verso Books Pub. Date: July, 2001 List Price(USD): $13.00 |
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Title: The Seventies: The Great Shift in American Culture, Society, and Politics by Bruce J. Schulman ISBN: 030681126X Publisher: DaCapo Press Pub. Date: 16 April, 2002 List Price(USD): $17.00 |
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