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Pak SixReview Date: 2007-12-31
Of Pilots and shattered dreams...Review Date: 2007-07-08
The poet of the F-105Review Date: 2007-04-15
"Sing to me o goddess of the might of the Thunderchief, son of the Super Sabre, that brought countless ills upon the bretheren of Korat. Many a brave soul did it send hurrying down to Hades, and many a hero did it yield a prey to dogs and vultures..."
Overall, good!Review Date: 2005-09-08
A short but powerful air combat memoirReview Date: 2003-08-05
Basel definitely has a way with words; even his descriptions of more mundane events are told in a way that captivates the reader. His accounts of air combat in the F-105 flying against the most devastating air defences ever assembled, fighting his way through SAMs, AAA and MiGs are some of the best I've read, and truly do make the reader feel they are right there in the cockpit.
Well worth the read.

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EnthrallingReview Date: 2008-04-05
Perfectly good recording, incomplete textReview Date: 2007-12-21
Sure do wish it were the whole work.
Rise and fall!Review Date: 2008-10-31
Your English teacher will tell you that _Paradise Lost_ "narrates the story of Adam and Eve's disobedience, explains how and why it happened, and places the story within the larger context of Satan's rebellion and Jesus' resurrection." And you know that can't be far wrong, because SparkNotes says the exact same thing.
But the main reason everyone should read Milton's grand epic is that it contains certain secrets about prayer.
In PL, Milton reminds us how important it is, when we pray, to be absolutely specific. The Lord has a strange, often disturbing, sense of humour (PL, books I-XII). If you leave Him wiggle room, He will answer your prayer in a way you never intended, and then say it was your own damned fault, because your prayer contained seven types of ambiguity.
John Milton writes from experience. Example: Almost every time a good-looking woman passed within view of John Milton, he suffered an involuntary erection. Daniel of the Old Testament might well have suffered such a condition without complaining, but John Milton found it onerous. John was both a Puritan and a student of Saint Augustine. He was not happy when he suffered an erection, he hated it, and he especially resented the women who made that thing happen to him.
In a Latin letter to his friend, George Wither, John Milton reports that, in his youth, he would sometimes see a pretty woman even in his dreams at night, and suffer, not just an erection, but the whole nine yards, up to and including a nocturnal emission; which he trained himself to handle according to Scripture, thereby to purify himself (Deut. 23:10); but sometimes he was unable to wait that long before he handled it, which filled his soul full of Puritan remorse and self-reproach.
At age 33, the poet took to wife a 16-year-old lolita named Mary Powell; and you may already have guessed the reason why, which is that she gave him an erection -- more accurately, she gave him "one damned erection after another," without remission. (Giving John Milton an erection was not the girl's conscious intent, but it just happened to him, every time they met.) And since Christian marriage is Saint Paul's only approved method whereby to deal with that kind of torment, John Milton (being an honourable man) thought it best to marry the girl (1 Cor. 7:9).
Frailty, thy name is woman! After two years of marriage - after just two years of witnessing those insufferable erections that could not be beaten down, or at least, not for long - the poet's young Puritan bride ran away and skipped back home to live with her mother, Mrs. Anne Powell, who likewise gave John an erection; which is why John Milton resented his mother-in-law as well as his estranged wife.
Those were the hardest years of the poet's life - nothing but a daily struggle against involuntary erections, yet here he was, trapped in a loveless marriage to a barely pubescent teenager who lived with her entirely-too-attractive mother. Which is partly why John Milton wrote those four revolutionary Christian pamphlets, correcting Moses' and Jesus' hardline policy on divorce (Mark 10:11-12).
In his Latin correspondence, some of which is preserved in the Bodleian Library, John Milton reports that he was fine when alone in his study, or when hobnobbing with Parliamentarians, or even when having a hasty pudding, or a figgy one, over at the Inns of Court; but let just one good-looker cross his path, showing good ankle between the hem of her dress and the top of her shoe, and it was boing! - instant erection, just like a spring-loaded mechanical device; causing John to exclaim bitterly, "Oh, God, please, not again! Save me from this penal fire!"
It even happened to him once when Oliver Cromwell's wife, Elizabeth Bourchier Cromwell, bent over to pick up a handkerchief that had fallen to the floor. On that occasion there was a lamentable accident ("an hard mishap" [verbatim quote]) with John's ordinarily modest codpiece - an incident so humiliating that John never even wrote a poem about it, although he did apologise, profusely, to Oliver Cromwell, and to Mrs. Cromwell, who saw the whole thing, and then fainted. (John at the time was employed as Cromwell's Latin secretary.)
By the way: It was modesty, not arrogance, that moved John Milton, after that embarrassing incident, to wear a baggy codpiece, with plenty of wiggle room.
Which brings me back to the beginning, when I was explaining why you should give the Lord no wiggle room when you pray: John Milton took his problem to the Lord in prayer, stating in his journal, "Father, I pray Thee, let me not suffer a stiffe joynt when I see a beautifull woman."
And here's how the Lord answered that prayer, in 1651: He struck John Milton blind.
At first, John thought that his blindness was a punishment for his own bad behaviour - which is how that whole thing got going, in Anglo-American Christianity, about how, if you are a boy who does what John Milton used to do, it could make you go blind. But God revealed to John, by means of a dream, that his blindness was actually an answer to his own prayers ¬- because the poet had said, "Father, let me not suffer a stiff joint when I see a beautiful woman."
John Milton then said, "Lord, that is not what I meant, at all" - but it was too late to change the outcome, because the prayer was already answered.
The erections that John Milton suffered in the years 1651-1674, and there were many, even after the Lord answered his prayer, were not from seeing a beautiful woman, it was actually because John had a condition that modern physicians call PSAS ("Persistent Sexual Arousal Syndrome"). So the chronic "stiffe joynt" problem was not really the women's fault, and it never was; but John Milton never knew that. Even when he wrote Paradise Lost (by dictation, from 1652-1667), John was still under the impression that women, seen or unseen, were to blame for his condition; which is why he makes all of those snide remarks in blank verse about your mother, Eve, in Books IV-V and IX-X of Paradise Lost. Because whenever he pictured Eve in his mind's eye, it was boing! - the same old problem. And there would come no more blank verse to his head for the next twenty minutes or so, until things settled down. John Milton hated that.
But it all turned out for the best: if God had not answered John Milton's prayer in that unusual way, by blinding him, Paradise Lost might never have been completed, and sold to the publisher, Sam Simmons, in 1667, for £5 - which was a tidy sum for a religious poem during the decadent Restoration era.
It was while writing the early books of Paradise Lost that John was introduced to Katherine, a ship captain's daughter, a fat woman whom he had never seen (because he was blind); whom he nonetheless married in 1656, but not for the same old reason as before: John asked fat Kate to marry him (a.) because he needed secretarial assistance with Paradise Lost, and (b.) because Katherine did not have the same pernicious effect on him as Mary Powell and her mother Anne had done. John could dictate blank verse to Kate all night long without feeling so much as a tingle down there.
Kate's surname was Woodcock. Beelzebub made a little joke about that: he said, "The Lord finally gave John Milton just what he always wanted."
- L.
Review of the Buccaneer Books Library Binding editionReview Date: 2008-03-05
Beautiful tapestryReview Date: 2007-10-20
"from Morn
To Noon he fell, from Noon to dewy Eve,
A Summer's day; and with the setting Sun
Dropt from the Zenith like a falling Star".
Each book of Paradise Lost is introduced with an argument, or summary. These arguments were written by Milton and added because early readers had requested a guide to the poem. Milton's purpose in this masterpiece is to tell about the fall of man and justify God's ways to man. When the angels battle in heaven at one point they pull up mountains and hills and throw them at each other: "So Hills amid the Air encounterd Hills Hurl'd to and fro with jaculation dire, That under ground, they fought in dismal shade." After their coup attempt in heaven Satan and the other rebel angels are lying stunned on a lake of fire. Satan rises from the lake and makes his way to the shore. He calls the other angels to do the same, and they assemble by and above the lake. Satan tells them that all is not lost and tries to cheer his followers. Led by Mammon and Mulciber, the fallen angels build their capital and palace Pandemonium. They decide to get at God through his new creation and Satan sets off on this mission. In reading Paradise Lost the poem reads the reader while being read. What I mean is that Milton lets his readers go awry in their affections and he corrects and instructs those misreadings as well as anticipates them. In this way the poem becomes a live text with meaning apprehended through the interplay between the peruser of the poem and the text itself. Milton allows the reader to subjectively question the justice of the current religious paradigm and then leads them back to the perspicacity of deity. Ultimately Paradise Lost is Milton's paean to a vast pattern in the universe, the disruption of that pattern by rebels, and the weaving of those rebellion threads back into an ever more beautiful tapestry.
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Why You Must read This BookReview Date: 2007-11-30
Now I am a university professor offering courses in US military history. Part of what I do is to expose my students to leadership and battle at the small unit level. There is no better book for that purpose concerning Vietnam than McDonough.
Every student takes something different away from this book because, unlike many assigned books, they read it. The book captures you right from the beginning. You really can't put it down. And, it contains more lessons about life and leadership than I can express here.
Knowing the author personally in 1991-1992 is special, for I saw in him then the character that had developed from his time in Vietnam. He tells it like it is, he means what he says, and he stands by his word. His book is more than just a memoir, it is therapy for a man who must live with the past, both for better and for worse.
Outstanding Book Review Date: 2006-02-23
Platoon Leader: A Memoir of Command in Combat Review Date: 2007-03-09
A gripping Vietman narrativeReview Date: 2004-11-04
This is a fascinating, well-written account. McDonough fills his narrative with vivid details that really made his story come alive in my mind. He doesn't flinch at describing the goriest and most horrific images of war. There are also moments of irony and bitter humor. Also noteworthy is the informative material about tactics used in Vietnam. And the author humanizes the story by touching on such "down-and-dirty" issues as the latrine his platoon used.
McDonough's story is populated with a compelling cast of characters. Particularly intriguing is his exploration of relationships among the various groups he encountered in the war zone--U.S. enlisted men, his fellow Army officers, Vietnamese military allies, enemy forces, and the many civilians caught up in the conflict.
While rich in scenes of combat, "Platoon Leader" goes beyond being just an action-packed war yarn. The book explores the ethics and morals of war. McDonough deals directly with the danger a soldier faces in becoming dehumanized by the brutality of war. He vividly portrays the struggle of a leader to remain wise and humane, yet also tough and resolute, under the most trying of circumstances. This book is both a profound meditation on wartime leadership and a powerful work of American literature.
This book isn't just for Lieutenants.Review Date: 2007-02-17
1. Do the right thing, at the right time, for the right reason.
2. Death in a combat zone is more about just being in the wrong place at the wrong time. Sooner or later your luck runs out, but you have the duty to your fellow soldiers to do everything in your power to protect them.
3. The stealing of a bottle of soda from a grandmother leads slowly but inevitable to the rape of her granddaughter. If you let your soldiers steal at all you are setting the stage for what atrocities they will commit later. You must always be vigilant in your discipline.
While I do not have combat experience, I am currently serving in Iraq and know second handedly that these concepts still hold true.
Other than the leadership aspect of the book, Mcdonough is just a great story teller and is able to make the book engaging and addicting.

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Prophet of Innovation: Joseph Shumpeter and Creative Destruction an outstanding bookReview Date: 2008-11-23
Ernesto Cunha
Comprehensive biography of economist Joseph SchumpeterReview Date: 2008-09-24
"..an economist with a tragic sense of life." Daniel BellReview Date: 2008-08-19
I am not an economist, but I was first exposed to the ideas of Schumpeter in my one year general ed Economics course. This course was taught by one of only two conservative instructors in my whole college education and he was influenced by Schumpeter. (I did take economics in high school which was taught from the Keynesian model.)
That was in 1968, the year the New Deal-Cold War Liberal Democratic Party coalition was itself undergoing creative destruction. Of course, that year, the Vietnam War and the protests were the central focus. But, the Schumpeter seed had been planted in my mind and I began to see the relationships.
My Father, foolishly, as he admitted to me much later, had gotten his old job back after he left the army post World War II. He was entitled to it under the Selective Service Act of 1940. He thought he would be secure as rural passenger train depot agent. But, the railroad passenger service was about to get a creative destruction death blow. In 1954, the Boeing 707 made its maiden flight. In 1958, the Boeing 707 made its first flight for Pan Am. In 1959, he was out of a job. He was a member in good standing of the Order of Railroad Telegraphers, AFL-CIO, but that didn't matter. If you had no customers, then no business, no jobs, and no union. When the business traveler ditched the trains for the planes, that was the end of the railroad passenger service along with 110 jobs per train. (He floundered around for awhile and took a few community college classes and got a better job afterwards.)
Later, I encountered Schumpeter again in political sociology, one of my areas of study in graduate school. As the author notes, Schumpeter attacks Marx on the static nature of his theories of class structure.
For me, McCraw makes two very impressive points about Schumpeter the teacher and scholar. As Teacher, McCraw quotes his student, Paul Sweezy writing that Schumpeter never judged students and colleagues on their agreement with his views. Sweezy called it "the rarest of all qualities in a teacher." I would say its even rarer today.
As a scholar, he mostly stayed out of policy advocacy. He did not seek to found a Schumpeterian school. Many of his best students were Keynesians. It takes a great deal of courage, character, and humility to forego such ego feeding ventures. Perhaps his experience as Finance Minister in the rump Austrian socialist government post World War I cured him.
On a more somber note, it is really staggering the amount of personal tragedy this man suffered in his life. He lost his father at age four. World War I destroyed his country. He lost his mother, wife, and son all within one month. He lost one of his best graduate students at the University of Bonn, Clare Tisch, to the holocaust. He also lost his companion, driver, and caretaker, Mia Stockel to the holocaust along with her husband and sister. His third wife Elizabeth, who had rescued him from deep depression, got breast cancer in the last year of his life.
McCraw does a fine job of weaving Schumpeter's life and writings together into a great biography of Joseph Schumpeter and history of the first half of the Twentieth Century
Intellectual honestyReview Date: 2008-07-04
Brad Angell
Analyst of ChangeReview Date: 2008-06-22
All his life Schumpeter championed capitalism yet was an expert on Marx, Marxist economics, and the entire socialist literature. A Marxist economist, Paul Sweezy, was among his closest Harvard friends. Schumpeter was a political conservative and anti-socialist who,notwithstanding, served as Finance Minister for a socialist government in post-World War I Austria. He lauded capitalism's superior performance while predicting the system's death from too much success. He preached creative destruction -- the incessant tearing down of old ways of doing things by the new -- as capitalism's inescapable iron law, yet was unprepared when his own work fell prey to it.
The 1990s saw the publication of at least three biographies of this complex, paradoxical figure. Now comes Thomas McCraw's definitive and elegantly written study to top them all. Drawing upon Schumpeter's diary, correspondence, early drafts, and published works, McCraw, a Pulitzer Prize winning emeritus professor of Business History at Harvard, paints a vivid picture of Schumpeter's life and times, his loves and achievements. Readers will choose their favorite parts of the book. Most enlightening to this reviewer is McCraw's survey of Schumpeter's scholarly contributions. Ironically, McCraw writes that he is "not concerned with Schumpeter's economic thinking, narrowly construed," but with his "life and his compulsive drive to understand capitalism." But that is a false dichotomy because Schumpeter's theories cannot be divorced from his attempts to come to grips with capitalism: each guided and shaped the other. In any case, McCraw provides a perceptive and accurate account of Schumpeter's academic greatest hits and misses.
Greatest Hits
Hits include first and foremost the path breaking and seminal Theory of Economic Development, published in 1911 when Schumpeter, then 28, was in what he called his scholar's "sacred third decade" of peak creativity. Other hits followed including the subtle and provocative Capitalism, Socialism and Democracy, and the mighty History of Economic Analysis, which Schumpeter worked on throughout the whole decade of the 1940s, and which was edited and published by his third wife, Elizabeth, four years after his death in 1950.
Schumpeter pushed one idea all his life: that capitalism means growth and growth requires innovation. The book that put him on the map, The Theory of Economic Development, states for the first time his vision of capitalism as the economic system that delivers faster growth and higher living standards (especially of the middle and lower income classes) than any other system, albeit in a disruptive, jerky, anxiety-inducing fashion. Like a perpetual motion machine, capitalism generates its own momentum internally without the need of outside force. Even technological change, seen by some as an exogenous propellant, is treated by Schumpeter as a purely endogenous matter, the product of economically motivated human ingenuity.
Breaking from received wisdom, Schumpeter replaces the static equilibrium analysis of his neoclassical marginalist predecessors and contemporaries with a dynamic disequilibrium theory of cyclical growth. His key building blocks are profits, entrepreneurs, bank credit creation, and innovation. Profits (supplemented perhaps with a desire to create a business dynasty) motivate entrepreneurs, who, financed by bank credit, innovate new goods, new technologies, and new methods of management and organization. These innovations fuel growth and generate cycles.
Why cycles? Cycles arise with a backlog of pent-up potential innovations seeking to override the barriers of habit, custom, tradition, and entrenched positions blocking their realization. When the first successful entrepreneur overcomes the stubborn resistance of incumbent interests and eases the path for other entrepreneurs, the resulting bunching of innovations (not to be confused with mere inventions, which Schumpeter saw as occurring more or less continuously) boosts investment spending, which bids prices above costs and raises profit margins thereby triggering the upswing or prosperity phase of the cycle. The high profit margins then attract swarms of imitators and would-be competitors into the innovating industries. Output overexpands relative to the demand for it, prices fall to or below costs thus eliminating profit margins, and the downswing or recession phase begins. The recession continues, weeding out inefficient firms as it goes, until the economy absorbs the innovations and consolidates the attendant gains thus clearing the ground for a fresh burst of innovation.
If the upswing has been accompanied with speculative excesses nonessential to innovation, the downswing may overshoot the new post-innovation equilibrium. Then the cycle enters its depression phase where the excesses are expunged and the economy returns via a recovery phase to equilibrium. Schumpeter stressed that the latter two phases and the phenomena that generate them are unnecessary for cyclical growth and could be prevented by properly designed policy. It's not speculative bubbles but rather the discontinuous clustering of innovations in time plus their diffusion across and assimilation into the economy that produces real cycles of prosperity and recession.
Profits, entrepreneurs, bank credit, innovation - all are essential to the growth of per capita real income in Schumpeter's model. Remove any one and the growth process stops. Innovation, for instance, is abortive in the absence of bank credit creation necessary to effectuate it. Cash-strapped entrepreneurs cannot build their better mouse traps from thin air. They require real resource inputs and loans of newly created bank money to hire them away from alternative employments. In highlighting this observation, Schumpeter effectively abandoned the classical dichotomy notion that loan-created money is a mere sideshow, a neutral veil that together with metallic money determines the nominal, or absolute, price level while leaving real economic variables unaffected. Not so, said Schumpeter.For him, money and credit are integral to the process of real economic growth and so have real effects.
Schumpeter's most popular hit was his 1942 book Capitalism, Socialism and Democracy. In it he coins the term "creative destruction" to denote capitalism's incessant killing off of the old by the new. The book contains his famous end-of-history prediction that capitalism's very successes, not its failures and contradictions as prophesied by Karl Marx, will produce social forces -- the routinization and depersonalization of innovation, the destruction of the image of the entrepreneur as romantic hero, the creation of a class of intellectuals hostile to capitalism -- which undermine the system and lead to its demise.
If capitalism cannot survive, can one rely upon its successor, socialism, to deliver the goods and amenities of life efficiently and fairly? Yes, said Schumpeter, who proceeded to provide the supporting argument. Many readers took him at his word, but not McCraw. He sees Schumpeter's "defense" of socialism as a devastating satire that mocks the system instead of bolstering it. Schumpeter, in other words, comes not to praise socialism, but to bury it. In the end, Schumpeter's case for socialism rests on extremely abstract theoretical conditions unlikely to be realized in practice. All of which creates a problem: if Schumpeter sought to show that socialism was a practical impossibility, then why did he predict its ultimate triumph over capitalism? One wishes that the real Schumpeter would please stand up.
As for democracy, Schumpeter viewed it as a political market in which politicians compete for the votes of the electorate just as producers compete for consumers' dollars in markets for goods and services. But Schumpeter, always skeptical of consumer rationality, believed that market power resides more with vote seekers than with the electorate, whose apathy, ignorance, and lack of foresight enable politicians to set the policy agenda and to manipulate voter preferences. Even so, he felt that capitalism, as long as it operates within a proper legal framework, is largely self-regulating and so requires little intervention. It thus constrains politicians' market power more than does socialism. McCraw fails to note that these ideas mark Schumpeter as a forerunner of the modern public choice school.
The last hit in the Schumpeter canon is his History of Economic Analysis, whose title expresses his contention that the rise of analytic techniques in economics is part of the economic growth process and must be studied as such. The History, in terms of its scholarship, breadth of coverage, richness of content, originality of interpretation, and wealth of resurrected valuable ideas, ranks with Jacob Viner's 1937 book Studies in the Theory of International Trade as the finest history of thought ever written. Scholars still mine it for ideas today. Among other things, it provides sparkling accounts of the quantity theory, the gold standard, Say's Law, the development of production and utility functions, and much more.
Greatest Misses
Apart from an unfinished book on money, Schumpeter's misses include his massive, two volume Business Cycles (1939), which he wrote entirely by himself with no research assistance. Seven years in the making, it emerged stillborn from the press. McCraw, however, values the book for its historical narrative of the vicissitudes of firms in five industries and three countries. But Schumpeter's contemporaries saw only the book's prolixity, discursiveness, and lack of focus. Most of all, they rejected its contrived, mechanistic analytical schema composed of three superimposed cycles -- the 50-year Kondratieffs, 9-year Juglars, and 4-year Kitchins, all named for their discoverers -- into which Schumpeter forced his data. As if these flaws weren't enough to sink Business Cycles, it had the bad luck, and bad timing, to appear when J. M. Keynes' celebrated General Theory was sweeping the field. Everybody talked about Keynes' book, few about Schumpeter's.
Schumpeter and Keynes
Schumpeter fumed when Keynes and Keynesian economics upstaged him in the 1930s and 1940s. Economists preferred Keynes's theory to Schumpeter's because it seemed to offer a better explanation of and remedy for the Great Depression, because it possessed greater policy relevance, and because it was more amenable to the mathematical modeling, econometric testing, and national income accounting techniques just beginning to come into vogue in the 30s.
Schumpeter should have foreseen this state of affairs. It was consistent with his doctrine of creative destruction in which new theories, like new goods and new technologies, displace the old in a never ending sequence. Here Keynes was the innovator whose analysis of capitalism rested on such novel concepts as the multiplier, marginal propensity to consume, marginal efficiency of capital, and liquidity preference function. Taken together, these Keynesian innovations were bound, according to the creative destruction doctrine, to have supplanted Schumpeter's old-fashioned theory.
Instead of accepting this outcome, Schumpeter reacted exactly as he had described entrenched interests doing when threatened by an innovation that disrupts their accustomed status quo: he put up stubborn resistance. His resistance, however, was motivated not so much by simple self interest, or desire to protect his own theory, as by his scientific judgment that Keynesian economics was fundamentally unsound.
Schumpeter accused Keynes of assessing capitalism on the basis of a short-run, depression-oriented model when only a long-run growth-oriented one would do. He scorned Keynes's claim that capitalistic economies tend to be perpetually underemployed and in need of massive government deficit spending to shore them up. He attacked the "secular stagnation" notion that capitalists face vanishing investment opportunities and slowing rates of technological progress when the opposite is true. He rejected the contention that income must be redistributed from the rich (who save too much) to the poor (who cannot afford to save) in order to boost consumption spending and aggregate demand. Nonsense, said Schumpeter. The insatiability of human wants ensures that income, regardless of who receives it, will be spent in one way or another.
McCraw does a fine job discussing Schumpeter's criticisms, all of which were valid, penetrating, and correct. He fails, however, to note that Schumpeter essentially attacked the wrong target. For it was not so much Keynes as his British and American disciples -- people like Joan Robinson; R. F. Kahn; Abba Lerner; Schumpeter's Harvard colleague Alvin Hansen; and others -- who were largely responsible for the doctrines, especially their extreme versions, that Schumpeter countered. But McCraw rightly points out that Schumpeter slipped when he opined that the Keynesian-style permanently mixed economy, or public sector-private sector partnership, was unsustainable and could not last. The private sector, Schumpeter reasoned, would become addicted to government expenditure stimulus and demand ever-increasing amounts. In this way, the public sector would expand relative to the private one and the economy would gravitate to socialism. Time has proved Schumpeter wrong. Private and public sectors have coexisted in a fairly stable ratio in most developed countries for the past sixty years.
Controversial Issues
Schumpeter held politically unpopular opinions in the 1930s when New Deal activism and populist anti-business sentiments were on the rise. He opposed President Roosevelt's New Deal reforms on the grounds that they hampered entrepreneurship and growth. For the same reason, he opposed Keynesian macro demand-management policies designed to tame the trade cycle. In his view, because growth is inherently cyclical, one flattens the cycle at the cost of eliminating growth. Other controversial opinions, all corollaries of his work on innovation and creative destruction, flowed from his pen.
Of income inequality he wrote that the gap between rich and poor is a prerequisite to and a relatively harmless byproduct of growth in a capitalistic system. The rich are necessary since it is they and not the poor who save and invest in the innovation-embodied capital formation that lifts the living standards of all. Moreover, high incomes provide both incentive and reward for the entrepreneurs who propel growth. No one need fear that an unequal distribution will condemn them to poverty. The Italian economist Vilfredo Pareto's notion of the "circulation of the elites" assures that. The ceaseless rise and fall of entrepreneurs into and out of the top income bracket means that it will be occupied over time by different people, many of them drawn from the ranks of the poor. The poor replace the rich and the rich the poor in never ending sequence.
In assuming a high degree of mobility across income groups, Schumpeter may have overlooked an education barrier. He failed to acknowledge that a superior education, increasingly a prerequisite to entrepreneurship and wealth in today's high tech world, is more affordable by the rich, enabling them and their offspring to stay on top.
Monopolistic firms and monopolistic profits hardly worried Schumpeter. He thought that monopolies, unless protected by government, are short lived, inherently self-destroying, and require no anti-trust legislation. Their high profits attract the very rivals and producers of substitute products that undercut them. For the same reason, he regarded anti-trust laws aimed at breaking up large, non-monopolistic firms as ill-advised. Not only are big firms often more efficient than small ones, but their research and development departments house teams of specialists functioning collectively -- and routinely -- as an entrepreneur who creates innovations that drive growth. Indeed, the very existence of R&D departments indicates that big firms realize they must continually innovate to stay alive.
Schumpeter's politically unpopular opinions continued into the wartime years of the 1940s. He distrusted Roosevelt, suspecting him of trying to establish a dictatorship. And he had mixed emotions about the Axis nations, Germany and Japan. He despised their military establishments, leaders, and advisors. But he admired the people and cultures of the two countries and feared that the United States would impose punitive reprisals at war's end. Most of all, he saw the United States' wartime ally, the Soviet Union, as its chief long-term foe, and thought that it would need Germany and Japan to serve as buffers against the communist nation. These views found little sympathy among Schumpeter's friends and associates in the ultra-patriotic environment of the early 1940s, a circumstance that caused him much unhappiness.
Schumpeter Today
The new improves upon and kills off the old. True enough. But what's new and what's old may lie in the eye of the beholder. Today's cutting-edge theorist and mathematical modeler may regard Schumpeter's analysis as older than old, a pre-Keynesian, pre-monetarist, pre-new classical/rational expectations relic. Accordingly, Schumpeter's name is stricken from required reading lists in many top graduate economic programs where theory is king. To businessmen, journalists, and historians seeking not abstract theory but rather practical understanding of global capitalism, however, his work is as fresh and insightful as the day he penned it. Journalists speak of a renaissance of Schumpeterian economics and of a reversal of his relative ranking with Keynes. Although McCraw does not say so, Schumpeter undoubtedly would be pleased, but hardly surprised, by the revival of his work. It fits his description of the zigzag path of doctrinal history in which sound economic ideas get lost or forgotten only to be rediscovered and restored to their proper place.
A Complaint
A great book deserves a great index, or at the very least an adequate one. McCraw's book has neither. Lacking comprehensiveness and precision, the index creates problems for readers searching for particular items in the text. It is inexcusable that the index fails to cover the 188 pages of endnotes containing valuable scholarly information and constituting a fourth of the book. One can fault the publisher, not the author, for this oversight. Luckily, it does little to mar McCraw's outstanding text. Elizabeth Schumpeter wrote that her husband "loved to read biographies." It's a sure bet that he would have enjoyed this one.
---Thomas M. Humphrey, reviewed for the Federal Reserve Bank of Richmond's Region Focus magazine, Fall 2007.

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Qi Gong For BeginnersReview Date: 2007-12-23
Excellent bookReview Date: 2007-07-30
Not the best choiceReview Date: 2003-03-13
But western society seems still enjoy the low level Qi Gongs.
Why not directly start from high level Falun Gong? It is not difficult. When you try, you will know.
There is an old Chinese saying: "Learn from the best".
Outstanding book!Review Date: 2003-02-11
Very good bookReview Date: 2006-03-31
It has good instructions and a lot of black and white photos which are easy to follow.
I found the excercise sequence very simple to do. It is relaxing and indeed takes less then 10 minutes to perform.
I think this book is a great start for beginners. Anyone can do these excercises.
If you're interested in other, longer and more intensive Qi Gong forms, I'd like to recommend the book 'The Swimming Dragon: A Chinese Way to Fitness, Beautiful Skin, Weightloss and High Energy' by T.K. Shih.

Used price: $11.42

Exactly what I was looking forReview Date: 2008-07-17
A Gem on Raja Yoga!Review Date: 2007-12-13
You can't go wrongReview Date: 2006-12-05
HolyReview Date: 2005-06-03
Thanks and praise
-Oracle
A must for understanding human nature!Review Date: 2006-07-25
This book really enables you to understand how your mind processes information and how to conquer your own nature to exercise free will.
The author Swami Vivekananda was both an enlightened soul and an elequent speaker. His words are powerfull!
Used price: $5.65

What the Right Ignores About the Corporations Running AmericaReview Date: 2008-08-19
Let The Truth Be Known To AllReview Date: 2002-02-05
ADM, ... enterprise, punishes whistleblowerReview Date: 2002-02-20
conclusions after compiling evidence, omissions from court records, and other factors that allow readers to infer that the judicial process was compromised by ADM's widespread political
influence before the trial even began. Although Dwayne Andreas,
the infamous political fixer and king of corporate welfare, got immunity in a highly secretive plea bargain to Justice in 1996,
after ADM agreed to pay a record fine of $100 million, his son
Michael was convicted and imprisoned with Terry Wilson for a
mere 3 years, and Dwayne (thanks to outraged and courageous ADM
shareholders) finally resigned. Tragically, Whitacre was
convicted, fined and sentenced to a harsh term of 9 years
because of ADM's swift retaliation against him as whistleblower, for exposing to the FBI the ... corporate culture of
ADM...(anything goes-but don't get caught-and here's your big
bonus (not reported on books)to keep silent, the unspoken words
being that an employee would be fired and crucified if they
blew the whistle.
Lieber's chilling comment (p. 322)should concern every citizen
or future whistleblower who believes in due process and our rule of law: "It was expected that ADM's attorneys would savage the
snitch. What was highly bizarre in the world of criminal law was the way the Justice Department joined in the frenzy to destroy Whitacre. This was an aberration...the perpetrator was a
politically wired corporation whose law firm- the president's law firm- had unbridled entree and influence at Justice. The
mole's lawyer had none."
Lieber makes a strong case that this American corporate history- "one of the most important antitrust cases of the century"- should be closely examined. Rightly so. Why was the court record sealed, why were key witnesses (e.g., Wayne Brasser) not deposed, who could have validated Whitacre's claims that the hidden bonuses were a quid pro quo for engaging in illegal price-fixing? The author's appendices are very helpful. ADM and Dwayne Andreas not only have lobbied for years to emasculate our antitrust laws (the "Magna Carta" of free enterprise) but know that the massive soft money donations to key politicians can grease not only the wheels of justice, but also ensure that ADM continues to get huge subsidies for ethanol and other favors from Agriculture Dept. (high fructose corn syrup,peanuts) that have cost taxpayers billions of dollars.
Rats in the Grain is highly recommended, and was a difficult book to write because of the case's complexity. James Lieber should be considered for a Pulitzer Prize.
This story has been toldReview Date: 2004-06-05
For obvious reasons, I would prefer not to give a "number-of-stars" rating to a book I haven't read. But Amazon demands it, so I've chosen a neutral "three."
Well done with an important "Afterword"Review Date: 2005-04-01
Lieber possesses a unique blend of talents to investigate the price fixing trial of the century.
The book chronicles ADM kingmaker Dwayne Andreas's rise to business and political power, charts the evolution of US antitrust law, and dissect's the testimony of key witnesses in the trial.
The chapters on the trial delve into ADM's chief defense: its executives were white-hatted American heroes intent on destroying an "Asian" cartel. You will find the race baiting and "we-are-heroes" defense surreal, especially since audio and video tape caught the conspirators red-handed and potty-mouthed.
Lieber presents shocking evidence to build a solid case that the US Justice Department often subjugated itself to ADM's political power and well-connected attorneys in the prosecution of informant Mark Whitacre for fraud and tax evasion. For example, Whitacre still maintains the nearly $10 million of ADM money he stashed in Switzerland and the Cayman Islands was "off-the-books" bonuses given to him by Michael Andreas with the approval of ADM president James Randall. Lieber provides multi-layered facts that endorse Whitacre's story.
The book's final chapters contain even more revelations: alleged document shredding by ADM chairman Andreas after the June 1995 FBI raid; ADM's hiring prostitutes to help steal competitors' technology; the never investigated role of ADM president James Randall--or Chairman Andreas--in price fixing conspiracies; the Justice Department's refusal to release public documents, and other sordid facts of sex, lies and videotape.
As you will discover in reading this book, justice was plea bargined away and the wishes of the Andreas crime family boss Dwayne were granted, one of which was sending Whitacre to jail for 10 years.
Lieber is to be commended for this historical document which will explain to generations to come how corporate crime destoyed our country.

Used price: $4.45

The Revolution by those who fought itReview Date: 2007-12-28
I know this book has glowing reviews by others. But those readers already know the basic story. If you think you fit in that category, go for it. Fascinating as the first person accounts may be, the context of the war is sometimes lost.
The men who fought the War are not the most literate. Spelling and grammatical conventions of the late 18th century may be confusing to the modern reader.
A teacher or another reader to help with the story line would be good. Or read 1776: America and Britain at War, by David G. McCullough first. You'll get much more out of your reading.
The editor/authors do a good job weaving the tales told by various participants. The reader may find the differing styles confusing. An interesting alternative would be Joseph Plumb Martin's classic account as a teenage recruit during the Revolution.
history the lives and breathesReview Date: 2007-03-09
A must for any Rev War History buffReview Date: 2004-07-09
Another Tremendously Good Read!Review Date: 2006-12-30
Authors George Scheer and Hugh F. Rankin have compiled, organized and edited a comprehensive collection of letters and papers that provide unparalleled insights into the war as it unfolds. Some of the participants, such as Paul Revere, are well known. Most, however, are not, including rank and file American and British soldiers.
The result is an extremely well written and compelling chronological history of the American war for independence through the eyes of those that won - and lost - it.
Lasting eight years, the Revolutionary War was both America's first long war and civil war. By it ends, four times more American had died (percentage wise) than in World War II. The war showed how hard it is for any nation, no matter how powerful and technologically advanced its military and economy, to defeat a people numerous, armed and far away, possessing strong allies, and fighting for their independence on ground of their own choosing.
Anyone interested in a first-hand account of a war that gave birth to the United States of America and changed the world should read this book.
Best one volume history of Revolutionary WarReview Date: 2003-10-29

Used price: $0.46

Gives a Real FeelReview Date: 2008-10-14
A Must Read for Anyone with An Ounce of Irish Interest!Review Date: 2008-04-16
Who Dares To Speak of Easter Week?Review Date: 2007-12-17
Apart from the seizure of the General Post Office in Dublin, the rebels were unable to secure most of their objectives. British forces were able to suppress the revolt within a week. Due to disputes and internal squabbles between competing factions, many Irish militias simply refused to take any active role in the rising and the rebels in the GPO were hopelessly outnumbered from the start.
The revolt may have proven to have been unnecessary had Britain not chosen to suspend Irish Home Rule for the duration of World War One. John Redmond's long awaited legislation was enacted and then immediately placed on indefinite hold. Had Home Rule been permitted, it is quite possible that Ireland might be a member of the British Commonwealth of Nations today. Britain's refusal to implement Home Rule, despite its Parliamentary approval, gave rebel leaders the opportunity to plot a course for independence.
With British Army fully engaged on the Western Front, it was thought that assistance could be readily obtained from the Central Powers to arm the rebels. Roger Casement spent months in Berlin where he took part in a series of unproductive meetings with skeptical representatives of the Kaiser. An open revolt in Dublin would be a useful diversion, but the Germans were wary about committing significant resources to such a plan and to a motley crew of disorganized and impoverished revolutionaries.
Casement's efforts to raise a revolutionary brigade composed of captured Irish colonials who were being held as British prisoners of war in German camps proved to be futile as these soldiers overwhelmingly refused to defect. The promised weapons offered by Imperial Germany turned out to be a cargo of antiquated army surplus, including some obsolete cannons and mortars that probably dated back to the Franco-Prussian War. A single ship was provided to deliver the arms to the Irish coast.
After the disguised ship skillfully evaded the British naval blockade, the entire shipment was captured on the beach within mere minutes of its unloading. Casement, himself, was placed under arrest almost as soon as he arrived on shore. His betrayal was the work of a paid informer, a homosexual renter, who had been communicating with the English about Casement's activities and the shipment of arms for weeks.
Initially, many Dubliners had been enraged at the rebels both for the disruption of their daily lives and the destruction that had been visited upon their city. When the British imposed a brutal state of martial law, which included the summary execution of most of the captured rebels, Irish public sentiment changed abruptly. The rebels were no longer reviled as damned fools, but considered as martyrs to the cause of Irish freedom. Padraic Pearse had been vindicated. Out of the blood sacrifice of the rising on Easter Monday came heavy handed British reprisals which reignited the spirit of revolt on the part of the Irish people.
While not a historical novel, the book does contain some fictionalized dialogue mixed with actual quotations. This does not detract from fascinating and sometimes hilarious account of cowardice, heroism, idealism and stupidity that attended the birth of the Republic of Ireland.
WonderfulReview Date: 2007-04-27
REBELS The Irish Rising of 1916Review Date: 2008-07-03

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