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You are the only person I have ever heard say that Starship Troopers the movie is better than the book.

Horrible, horrible travesty of a movie.

Can you recommend the time management book you read that allows you to have a family, career, blog and time left over to read all these books?

Thank you for the "Unthinkable" suggestion. I read the sample on my Kindle and now just purchased it. I am a fan of all types of survival stories. You might also enjoy "Unbroken" a true and heroic survival story from WWII. Thank you and Happy New Year.

Great list, thanks Greg.

The Paulson book is particularly dreadful, and your assessment is exactly correct: the bailouts and subsequent action pushed the risk envelope out even farther, virtually guaranteeing a larger calamity, possibly in the near future. Everyone I speak with on Wall street believes this.

Another good play-by-play resource of the near financial market collapse is Charlie Gasparino's The Sellout, which is also full of innuendo and some speculation, but a very entertaining read. Charlie's not an economist or market participant by trade or training, but he's a good storyteller and knows/interviewed all the Wall Street principals.

Also, for an old-school Wall Street story, Niall Ferguson's High Financier - The Lives and Time of Siegmund Warburg is some interesting nostalgia.

http://www.niallferguson.com/site/FERG/Templates/General.aspx?pageid=229

Indeed, Keynesian economics has more or less hit the wall, with increasingly desperate attempts to defend it by the joke known as Krugman, and his lickspittle Brad DeLong. My professional theory is that Keynesian stimulus has diminishing asymptotic returns; the larger the deficit, the less effective it becomes, and actually becomes a drag (on top of the natural crowding-out effect it inherently causes). So far, the evidence bears this out.

In order to stay positive, I'm diving into Matt Ridley's The Rational Optimist - a Julian Simon-esque assessment and appreciation of human innovation, economic and otherwise.

http://www.rationaloptimist.com/

Finally, Buffett is a rent seeker, and investment simpleton, with way too much hype. Good catch.

If Keynesian economics is a failure which school of economics should we look to if society is to succeed?

C'mon Thane, that's easy:

Look around, choose your own ground.

- p. Floyd

Anything advocating private property ownership, and therefore incentive.

Classical liberal.

Happy 1776.

Thank you Thane for wearing your slavish devotion to progressivism on your sleave honestly.

"If Keynesian economics is a failure..." is a precious assertion to make on the first day of 2011.

For the average Joes like myself this is laughable. I guess it's close to a smashing success for the Swells on Wall Street when the Fed keeps interest rates at zero from presidency to presidency - and they reward themselves lavishly while 'doing gods work.' Yeah Right.

next..."if society is to succeed." Contrary to the idiotic assumption - as unsatisfied as a lot of people are - esspecially the unemployed - are we really more of a failed society than Putins Russia or Chavez' almost unnoticed vetoing of any semblance of democratic rule?

The american experiement seems to be surviving the assults of progressivism quite admirably thank you, warts and all.

Who knows, with a lot less debt and a lot more conservative leadership SHE MIGHT JUST THRIVE AGAIN SOON! [insert job creation]

On a more positive note I agree with Mesa Econoguy on Gasparino - plowed through about a third in my first few days - and do recommend it. I really appreciate his take on where and when risk taking started to amp up - a unique overview.

Have my Borders Gift card at the ready and intended to do a compare and contrast with Bethany McClean's take (she won me over with her Enron reporting) or Micheal Lewis....but...now Greg has thrown in some new temptations...

Thanks for the list Greg, and again thanks for Expresso.

Happy new year to all - yes all - even misguided liberals whose unintended consequences are certain to keep one and all busy busy busy.

i like to read your posts. thanks for this one.

Edward Prescott, ASU economist won his nobel prize for business cycle theory. He mapped all of the great depressions of the last 100 years, many of which were more severe than our great depression. His models point out that all of these downturns were worsened or created by government action.

According to his work, our current downturn is being exacerbated by excess government taxation of business. If you care about creating prosperity for the poor, you should know that we are taxing way beyond the optimum point.

The Obama administration prides itself on its intellectual superiority, but its economic policies are dumber than a rock. They actually have a research foundation for what they are doing that enables them to sneer at Republicans but our side doesn't know the research and is speechless when Greenspan says that the tax cuts don't pay for themselves.

Oh, yes they do.

What? No Harry Potter?

Keep up the great work, Greg.
Have a Happy and Prosperous New Year!

Hi Greg -- meant to send you a note about a fascinating book I'm currently reading -- the diary of Nixon's chief of staff, HR Haldeman:

http://www.amazon.com/Haldeman-Diaries-Inside-Nixon-White/dp/0399139621/

I'm a Nixon buff, and this is by far the best book on his presidency -- you get a unique insider view that I don't that have ever occurred in any other administration.

The best part is seeing what Nixon & company thought were the biggest topics of the day. Also interesting were Nixon's insights on playing his opponents. Highly recommended, and I haven't even hit Watergate yet.

Greg,

Reading books? That's so 90's... No but really, you have a huge list of interesting books here. I have read 'The Forgotten Man' and it is a great book.

Another one that you should look into is 'The Big Short: Inside the Doomsday Machine'. It is by Michael Lewis, who also wrote 'The Blind Side'. 'Short' concerns the sub-prime mortgage market and how it grew into a monster that almost brought down most of the biggest institutions. There were a few people who could the handwriting and see what was about to happen. These few managed to make a small fortune because they knew that the feces would eventually hit the rotary ocillator...

Good work (as usual)

Jim Mc

For Sci-Fi, you cannot go wrong with John Ringo's "Live Free or Die."

Great story, with one sequel published ("Citadel"), and one forthcoming this May ("The Hot Gate").

Thane,

Try Hayek's "The Road to Serfdom" on for size. If you can get through that, I'll give you some more ...

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