by Jude Wanniski
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Product Description
To celebrate the 20th anniversary of the book which helped launch the current economic miracle, Gateway Books is proudly repackaging and re-releasing The Way the World Works. Jude Wanniski's masterpiece defined the economic policies of the 1980s responsible for a booming stock market, the creation of thirty million new jobs, untold wealth, and unparalleled prosperity.
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Average Customer Review:
0 of 0 people found the following review helpful:
300 Years of Governmental Economic Successes & Blunders, 2008-04-22
Whether you are a Democrat, Republican, Socialist, or Capitalist, Jude Wanniski's "The Way the World Works" presents a Tour de Force in the Economic successes and blunders over the last 300+ years.
Economic truths are indeed the lever that truly can both move governments, history, or readdress poverty concerns. Much like what the Gates Foundation has (or is) undertaking, unless one gets the incentives right, the ends that one is trying to achieve will not be sustainable and withers away after a few years. Though some think of economics as a zero sum game in that some win only if someone else is losing. On the contrary, Economics is not a zero sum game.
As demonstrated and proved over the last 35 odd years (a somewhat short period of time), in many countries with many economies both big and small, the use of ingenuity, the increase in opportunity, and the increases in production have revealed that it is not a zero sum game if the governmental incentives are set correctly. Subsequently, much like the baker, if you want to feed more people you do not devise unique ways to divide the loaf, you devise ways to make more bread !
Once we can overcome one of the deadly sins of "Envy", we will and can achieve more. Though envy is a powerful force, in the end, does it really matter if someone a thousand miles away, or in a different country, or even in your own neighborhood has a little more than you? If it does, move along and educate yourself in a different endeavor. However, if not, then take a ride on this governmental and economic Tour de Force and increase opportunity for all.
6 of 7 people found the following review helpful:
 It Does Work, 2006-05-14
A man not many people know about wrote an amazing book about 20 years ago that not many people have heard about. Where has he and this book been hiding? You would think we would know him better than we do as the concepts he writes about helped forge the economic policies of President Ronald Reagan, which some state was instrumental in ending the Cold War. As I read this book, I couldn't help to think about what tragic year it has been with losing both Peter Drucker and Jude Wanniski.
The book is written as an economic lesson, but reads as a more interesting historic lesson, covering some of the most exciting and critical events over the last 200 years. Jude clearly explains and backs up his concepts with historic examples, and both the obvious and hidden drivers of those events, and brings it all back to how over that time, we have learned why all that happened.
He looks at economics not just as math or science, but in terms of and in conjunction with politics and the psychology of the individual. The dismal science does not need to be so dismal when you look at it from the context of countries and individuals in those countries, and what drives them to be productive in order to advance society.
True greatness is generally shown when you look at something someone has created, look at it years later, and still say it is valuable and effective. It can stand the test of time. "The Way the World Works" absolutely stands the test of time. This is shown in many of the concepts he refers to, being the same topics as many of the "Megatrend" themes everyone else is talking about today, as new revelations. It is also remarkable to hear common themes from Thomas Friedman's current bestseller how "The World is Flat". He also presents topics that are parallel to Peter Drucker, in how we need great people to produce great companies that produce great societies. Treating governments, organizations and individuals separately, and separating productive work from just work,
I wish Jude was still with us so he could attempt to bridge his analysis of how energy works, and how these same driving principles could be used to analyze the Internet. Maybe we can continue that work for him.
12 of 51 people found the following review helpful:
 Right-wing charlatanism, 2006-02-13
The simplistic doctrine espoused in this book can be dismissed in rather long-winded ways by by theoretical argumentation, but it is much quicker and easier to employ empiricism. The suppy-side economics of the 1980s did not create higher tax revenues, stimulate productive enterprise or redistribute income more fairly. In fact, they created huge budget deficits, supported the shipping of real productive enterprise abroad and stimulated the service enterprise that led to today's unstable bubble economy, and made the rich richer and the poor poorer (or imprisoned). Wanniski gets one thing right. This economic doctrine is anti-inflationary and protects the medium-term value of the elite's growing pot of money. And that's it, because that's all it's meant to do. The rest of it is complete charlatanism of the sort employed by 19th century medicine men to convince simple country folk that they now have access to a magic formula.
13 of 56 people found the following review helpful:
 A Primer on Impact of Tax Policies - Nothing More, 2004-06-06
Can lowering tax rates actually increase tax revenues? Yes. This counterintuitive answer is suggested well by Jude Wanniski's main topic: the Laffer Curve. There is evidence that the more taxes get levied, the greater the incentive to avoid paying taxes - including avoiding productive pursuits altogether.
Can a steeply progressive tax structure actually cause fewer tax revenues to derive from the wealthy? Wanniski offers support for this proposition as well.
Can trade tariffs actually depress the economy? Arguably yes.
These propositions are lamentable for a number of reasons. But Wanniski doesn't spend much time lamenting. He is fixated on the future potential of aggregate growth - however damaging to short-term labor markets - however conducive to the divide between wealthy and poor - however damaging to the production of social goods that are non-commercial in nature.
Perhaps Wanniski's sentinal contribution in this book is the idea that there is in fact tradeoffs between aggregate growth and other non-comercial goals that society might pursue. But let's give the more socially conscious some credit. Most of them already know this. But after reading Wanniski they might understand some of the more important potential tradeoffs better.
Why Wanniski only gets two stars, however, is for positing that the key economic tradeoff is between "growth" and "redistribution." This oversimplified frame works to mystify all societal goals other than aggregate growth by associating them exclusively with the politically charged concept of "redistribution" that has been abused and misunderstood widely. Not to mention that what "growth" refers to for Wanniski is aggregate growth in the economy as a whole - a growth that doesn't neessarily lead to improved quality of life for the masses of wage earners - but perhaps more like the growth of the wealth of the few who enjoy the stronger bargaining positions in society.
Not all non-commercial goals require redistribution. Some that do are really the best way to solve certain problems. Social security, for instance, keeps people from failing to save for the future in the face of the constant temptation to under-save in order to keep up with the Joneses.
For a better exposition on human nature and the negative effects of competition, see "Choosing the Right Pond" by Robert H. Frank
13 of 17 people found the following review helpful:
The Best Book you will ever read, 2003-09-24
The Way the World Works (TWWW) is absolutely the best book that I have read my entire life. Wanniski has an extremely sharp mind, and his analysis combines the theories of the best economists of our times with his own in-depth knowledge of political science.
Wanniski has been able to forecast events in our national economy and society with outstanding accuracy.
The greatest thing that you will learn in this book is the ability to "think on the margin" which will help you understand not only economics and politics, but can help you be more successful in all areas of your life.
You can read materials published by Wanniski, for free, in his website ......
I have also created a website dedicated to the diffusion of Wanniski's ideas in Brazil. The site, which is in Portuguese, can be found at ......P>Marcelo Rocha DaSilva
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