Reading Week - part III

The second full category of books in my library are those which I have read but which need to be read and reread for their full value to be extracted. There are a lot in this category – but let me select the two which have so far made it onto my desk -

Political Order and Political Decay; Francis Fukuyama (2014) is the second volume of magnum opus of 1,300 pages and is one of these rare books of which I keep duplicate copies – although it can be freely downloaded in full from the internet.

Its introduction summarises the first volume and the opening chapter set out his framework -  showing the link between economic, social and political development; and how ideas about legitimacy have shaped our understanding of the three basic building blocks of “modern” government – “the state”, “rule of law” and “democratic accountability” (see the figure at p43)

This first chapter spells out how very different social conditions and traditions in the various continents have affected the shape and integrity of government systems (The sequencing of bureaucracy and challenge to political power is of particular interest)

Doughnut economics – 7 ways to think like a 21st century economist by Kate Raworth (2017) is another example of a book benefiting from a reread. She’s an Oxford economist whose book has made quite an impact. Indeed it’s one of a fairly short list of books I recommended last year for people wanting a different approach to economics.

Right from the start her text engages – with an explanation of how she was put off by the subject initially but came back to it almost 2 decades later….And then a rare exploration of the importance not only of “framing” but of diagrams and visuals – and how diagrams were used by Paul Samuelson in 1948 in the first popular economics textbook to plant false perceptions in student minds.  

Chapter one – “Change the Goal” - discusses how the measurement of an economy as know it today (GNP) was invented only in the late 1930s and how it was subsequently used by Roosevelt to measure the impact of the New Deal; and to prepare the US for war. Also how its inventor (Simon Kuznets) came quickly to see the crudities and deficiencies of the measure but remained a prophet in the wilderness. The rest of the chapter reminds us of the things which are left out of this metric – and the recent history of the attempts to bring in more suitable metrics  

The doughnut is her metaphor for the point we humans have reached – with us exposed on its outer rim to the limits of 9 planetary boundaries with climate change; land conversion; biodiversity loss; and nitrogen and phosphorous loading have already reached its limits….

The doughnut’s inner rim is composed of what she calls the “social foundation” which includes not only food, water and housing but gender equality and political voice…   

The book devotes a chapter apiece to the seven ways she offers for changing the way we think about economics – but with headings which lack punch and clarity. Her second chapter “Seeing the Big Picture” draws a brilliant parallel between the Economics narrative, on the one hand, and a play/film on the other. Each has its plot, goodies and baddies….There’s a good interview with her here

The early pages of Raworth’s book alerted me to a great book which, some 8 years ago, identified and explored this issue of our being taken over by a new ideology – what the French used to call “La Pensee Unique”, It is Monoculture – how one story is changing everything by FS Michaels and makes a fitting fanfare for the next post which will explore the world of books freely downloadable from the internet