I'm finally getting into the book a bit (that is, when I can stay awake until 9PM) and my reading last night got me thinking about what Friedman said about some of the things that made us prosper (ie., land-grant colleges, social safety nets (social security, medicare,) and the ability to declare bankruptcy. According to the author, in order for a capitalistic society to prosper, we have to feel free to take financial risks and invest in new products, etc. If we failed, declaring bankruptcy was relatively easy and one could start over again. Of course, now, we are all paying the price for taking these "risks" (the mortgage crisis, easy credit). Social security and medicare are broke, too. I've got a lot of reading to do and am very curious about public education. That's for another night when I can stay awake (:
So, the very things that created made us "That Used to Be Us" are not? Catch 22? What do you think?
hi mary ellen posting a comment to make sure it works.
ReplyDeleteMEFrey
ReplyDeleteI feel like Part I sets a bleak self fulfilling prophecy of american laziness and arrogance. But not sure if it is a Catch 22. He points to us being able to use our own formula to break free from our steady decline and not repeat the same pattern.
You are right however with the making you tired mentality... the small font has me needing a nap. :)