Category: Books

Machiavelli Described the Methods of Tyrants

(p. C12) But anyone who observes politics, business or even the loftiest social institutions will know that the world is rife with backstabbers, hypocrites and ethical ne’er-do-wells all thriving at the highest levels—beyond the reach of law or hashtag.

. . .

Machiavelli’s gift, Mr. Boucheron argues, was “naming with precision that which was happening.” He explains the behavior of tyrants not to excuse them, but to show the rest of us what to look out for, in the clearest terms possible. Machiavelli’s “lucidity,” says Mr. Boucheron, was the “weapon of the despairing.”

Other political thinkers have read Machiavelli this way. Jean-Jacques Rousseau wrote in “The Social Contract” that Machiavelli was not advising tyrants but “instructing the people on what they have to fear.” John Adams credited Machiavelli for helping him think through the likely threats to a young American republic.

For the full review, see:

Philip Delves Broughton. “A Poetics for Tyrants.” The Wall Street Journal (Saturday, January 25, 2020): C12.

(Note: ellipsis added.)

(Note: the online version of the review has the date January 24, 2020, and has the title “‘Machiavelli’ Review: A Poetics for Tyrants.”)

The book under review is:

Boucheron, Patrick. Machiavelli: The Art of Teaching People What to Fear. Translated by Willard Wood. New York: Other Press, 2020.

COVID-19 Vaccines Were Built on “Decades-Long Efforts to Create Other Vaccines”

Gregory Zuckerman’s The Frackers was a great deep dive into the lives of important non-Silicon Valley entrepreneurs. So far I am also enjoying Zuckerman’s new book, reviewed in the brief passages quoted below.

(p. 26) Zuckerman answers a question still circulating among both vaccine fans and skeptics: How could scientists develop the Covid-19 vaccines so quickly?

The answer is that they didn’t. The Covid-19 vaccines were built on the backs of decades-long efforts to create other vaccines, like one for the Zika virus and, in particular, several failures to develop a useful H.I.V. vaccine.

For the full, but short, review, see:

Eve Fairbanks. “THE SHORTLIST; Covid.” The New York Times Book Review (Sunday, January 9, 2022): 26.

(Note: the online version of the review has the date Dec. 29, 2021, and has the title “THE SHORTLIST; New Books Explore the Many Ways Covid Has Altered Our Lives.”)

The book under review is:

Zuckerman, Gregory. A Shot to Save the World: The inside Story of the Life-or-Death Race for a Covid-19. New York: Portfolio/Penguin, 2021.

Could Amateur Investors Return the Walt Disney Company to the Principles of Walt Disney?

I wonder what amateur investors could do if they had more serious motives than hatred of elite short-sellers? What if they had the motive, for example, of returning the Walt Disney Company to the principles of Walt Disney? I do not endorse the ambiguity (how much fictional and how much nonfictional) of the book reviewed below. But the GameStop and AMC episodes are intriguing proofs-of-concept.

(p. A15) Until late last year, GameStop was a typical and not very successful corporation. The company sold videogames through a chain of retail outlets and lost money on every sale. But its stock caught the interest of small investors who traded on Robinhood, a mobile trading app, and the stock began to levitate.

From single digits in October 2020 the stock price doubled to 20 late last year. Then, over a few manic days in January, it vaulted “like a lid flying off a pot,” as Ben Mezrich puts it in “The Antisocial Network.” It went up to 77, then 148, then 348 and then an intraday high of 483—at which point GameStop was worth more than $30 billion. Briefly, it was the most heavily traded issue on the stock market.

The source of the mayhem was, to borrow from the book’s subtitle, “a ragtag group of amateur traders.” Few of the devotees who flocked to GameStop thought of themselves as even armchair security analysts. They were infected by crowd psychology and, in some cases, driven by the hope that the high price would punish well-to-do short sellers.

. . .

Even when the price hit the stratosphere, retail buyers professed not to be worried. They would “never” sell; they weren’t concerned with the possibility of losing money. “Oh im [sic] fully aware that I may end up a bagholder,” went one post. “But it’s worth being a bagholder to stick it to those Wall Street f—s who’ve gamed the system for so long at our expense.”

To Mr. Mezrich, such fulminations suggest that a revolution is a-coming. His thesis is vented in excited metaphors. The “pillars” of Wall Street are shaking; Melvin Capital faces an “existential moment” (which, actually, it survived); angry traders constitute a “millennial version of the French Revolution.”

A little of this gas comes from investors; most of it is supplied by Mr. Mezrich. “The Antisocial Network” is built on scenes that the author has re-created; quotation marks, in the main, are conveniently absent. He writes of one novice but gung-ho investor, who worked in a hair salon: “She believed something deeper was happening.” Did she say that? Is it a paraphrase? Is it what Mr. Mezrich thinks she believed?

For the full review, see:

Roger Lowenstein. “BOOKSHELF; Let Them Eat Shorts.” The Wall Street Journal (Tuesday, Sept. 07, 2021): A15.

(Note: ellipsis added.)

(Note: the online version of the review has the date September 6, 2021, and has the title “BOOKSHELF; ‘The Antisocial Network’ Review: Let Them Eat Shorts.”)

The book under review is:

Mezrich, Ben. The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees. New York: Grand Central Publishing, 2021.

Ford and Edison Tried to Build and “Gift the Nation” a “Utopian Garden City”

I have greatly benefitted from two of Hager’s previous books: The Alchemy of Air and The Demon Under the Microscope. A third one, Ten Drugs, was OK. I am looking forward to reading the new Hager book discussed in the passages quoted below from a WSJ review. I wonder if an inference from the book will be that more infrastructure could be privately provided, if the government would allow it? (By the way, I am by no means as convinced as the reviewer that the TVA was one of FDR’s greatest accomplishments.)

(p. A17) Henry Ford and Thomas Alva Edison were the twin wizards of the first decades of the 20th century in America.

. . .

The story of this pair’s vain effort to build a utopian garden city powered by a mammoth hydroelectric dam at Muscle Shoals, Ala., is all but forgotten. Now it’s been disinterred by Thomas Hager, in “Electric City: The Lost History of Ford and Edison’s American Utopia,” a well-researched, crisply written account tinged with irony.

. . .

During World War I, the government hatched a plan to dam the river and use the electricity generated to power two plants turning out nitrates for munitions. The dam was half built and the factories equipped when the war ended and the project was abandoned.

President Warren Harding didn’t want to spend the $30 million needed to finish the mile-wide 10-story dam and told underlings to lease the whole works to private interests. Ford had already been tempted to acquire the nitrate plants, which could be refitted to turn out the kind of fertilizer used by regional farmers. He envisioned the completed dam supplying cheap power for his blended new American community of garden cities strung for miles along the river. Worker-farmers would commute—in their Model T’s, of course—to small factories running on electricity from the dam. They would be given time off in planting and harvesting season to raise crops they could sell to supplement their incomes. It was a Jeffersonian vision of America updated to the age of the automobile and bounteous electricity.

Ford enlisted the prestige and smarts of his camping buddy Edison. They wanted, Mr. Hager writes, “to gift the nation they loved with a titanic, living example of how they thought America should work . . . The results would be new kinds of cities, new ways of making things, new approaches to labor and leisure, and improved lives for everyone.”

. . .

In the end, Edison faded from the picture, and Norris ended Ford’s hopes—passing legislation that made Muscle Shoals a federal undertaking, although Coolidge refused to sign it. And in the wondrous alchemy of American politics, when the Great Depression propelled Franklin D. Roosevelt into the White House, Muscle Shoals became the core of the TVA, the Tennessee Valley Authority, one of the first and greatest of FDR’s accomplishments.

For the full review, see:

Edward Kosner. “BOOKSHELF; Bright Lights, Big River.” The Wall Street Journal (Thursday, Dec. 23, 2021): A17.

(Note: ellipses between paragraphs were added; ellipsis in the middle of a paragraph was in the original.)

(Note: the online version of the review has the date December 22, 2021, and has the title “BOOKSHELF; ‘Electric City’ Review: Bright Lights, Big River.”)

The book under review is:

Hager, Thomas. Electric City: The Lost History of Ford and Edison’s American Utopia. New York: Harry N. Abrams Press, 2021.

After Escaping Communism, Karikó Achieved “Critical Breakthrough” on Covid-19 Vaccine

(p. C8) “Infectious” is a chronicle of the “ongoing arms race between host and infection,” as Mr. Tregoning puts it, as well as the astounding medical progress in the past 100 years that has tipped this struggle in favor of humanity.

. . .

Before the pandemic, many doubted that vaccines based on messenger RNA would work at all, as the technique had a reputation for being finicky and unstable. That these new technologies have thus far outperformed traditional vaccines is an upset akin to Buster Douglas’s 1990 knockout of Mike Tyson. According to Mr. Tregoning, a large share of the credit belongs to the biochemist Katalin Karikó, who had a critical breakthrough that “massively improved the potency of the vaccine.” Ms. Karikó, “who fled Communist Hungary in 1985 with $1,200 hidden in a teddy bear,” was able to stabilize messenger RNA by studding it with methyl groups. This enabled the RNA to survive in the body just long enough to produce viral proteins for the immune system to target.

For the full review, see:

John J. Ross. “The Battle Inside Your Body.” The Wall Street Journal (Saturday, Dec. 11, 2021): C8.

(Note: ellipsis added.)

(Note: the online version of the review has the date December 10, 2021, and has the title “The Defenders: Three Books on the Science of Immunity.”)

The book under review in the passages quoted above is:

Tregoning, John S. Infectious. London, UK: Oneworld, 2021.

“In a World Filled With Distraction,” Apolo Ohno Praises “Deep Work”

(p. C12) Cal Newport’s “Deep Work” eloquently describes how to find an advantage in a world filled with distraction.

For the full review, see:

Apolo Ohno. “12 Months of Reading; Apolo Ohno.” The Wall Street Journal (Saturday, Dec. 11, 2021): C12.

(Note: the online version of the review has the date December 10, 2021, and has the title “Who Read What: Business Leaders Share Their Favorite Books of 2021.”)

The book praised by Ohno is:

Newport, Cal. Deep Work: Rules for Focused Success in a Distracted World. New York: Grand Central Publishing, 2016.

Charles Morris Uncovered “Tantalizing Nuggets” on Innovation and Entrepreneurship

In researching my Openness to Creative Destruction, I found two of Charles Morris’s books very useful, providing thought-provoking analysis and compelling examples. The two were The Dawn of Innovation and The Tycoons.

(p. A24) Charles R. Morris, a former government official, banker and self-taught historian of economics who as a prolific, iconoclastic author challenged conventional political and economic pieties, died on Monday [December 13, 2021] in Hampton, N.H.

. . .

Mr. Morris wrote his signature first book, “The Cost of Good Intentions: New York City and the Liberal Experiment” (1980), after serving as director of welfare programs under Mayor John V. Lindsay and as secretary of social and health services in Washington State.

The book was a trenchant Emperor’s New Clothes analysis of how the Lindsay administration’s unfettered investment in social welfare programs to ward off civil unrest had delivered the city to the brink of bankruptcy, and it pigeonholed Mr. Morris as a neoconservative.

But as a law school graduate with no formal training in economics, he defied facile labeling.

While his 15 nonfiction books often revisited well-trodden topics — including the Great Depression, the nation’s tycoons, the cost of health care, the Cold War arms race and the political evolution of the Roman Catholic church — he injected them with revealing details, provocative insights and fluid narratives.

“The Cost of Good Intentions” (1981) was less a screed about liberal profligacy as it was an expression of disappointment that benevolent officials had become wedded to programs that didn’t work. He concluded that the best and the brightest in the government, as well as complicit players on the outside, had figured that if a day of reckoning ever came, it would not be on their watch.

. . .

He would . . . belie Thomas Carlyle’s characterization of economics as “the dismal science” by injecting tantalizing nuggets.

Reviewing Mr. Morris’s “A Time of Passion: America 1960-1980” (1984) for The Times Book Review, Michael Kinsley wrote that “some of the most vivid moments in this book come when he stops the rush of history to describe incidents from his own time as a poverty-program and prison administrator.”

“He truly has been ‘mugged by reality,’ in Irving Kristol’s famous definition of a neoconservative,” Mr. Kinsley added, but concluded, “Overall, his book radiates a generosity and good will that set it apart from the typically sour neoconservative creed.”

. . .

“I think we’re heading for the mother of all crashes,” Mr. Morris wrote his publisher, Peter Osnos, the founder of PublicAffairs books, early in 2007, adding, “It will happen in summer of 2008, I think.”

Mr. Osnos recalled that after the book was published, “George Soros and Paul Volcker called me and asked, ‘Who is this Morris, and how did he get this so right, so early?’”

For the full obituary, see:

Sam Roberts. “Charles R. Morris, Author Who Disputed Economic Dogma, Dies at 82.” The New York Times (Wednesday, December 15, 2021): A24.

(Note: ellipses, and bracketed date, added.)

(Note: the online version of the obituary was updated Dec. 15, 2021, and has the title “Charles R. Morris, Iconoclastic Author on Economics, Dies at 82.”)

The books by Morris that I found especially useful were:

Morris, Charles R. The Dawn of Innovation: The First American Industrial Revolution. Philadelphia, PA: PublicAffairs, 2012.

Morris, Charles R. The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy. New York: Times Books, 2005.

“Intolerance Leads Not to Progress, but Stagnation”

(p. C10) . . . this past year I revisited the works of Friedrich Hayek, the great 20th-century expositor of classical liberalism. His most sweeping work is “The Constitution of Liberty”—a legal history as much as a defense of freedom—which includes a timely case for tolerance. We cannot foresee the particulars of human progress, which means “we shall never get the benefits of freedom, never obtain those unforeseeable developments for which it provides the opportunity,” if freedom “is not also granted where the uses made of it by some do not seem desirable.” Thus intolerance leads not to progress, but stagnation.

For the full review, see:

Raymond Kethledge. “12 Months of Reading; Raymond Kethledge.” The Wall Street Journal (Saturday, Dec. 11, 2021): C10.

(Note: ellipsis added.)

(Note: the online version of the review has the date December 10, 2021, and has the title “Who Read What: Business Leaders Share Their Favorite Books of 2021.”)

The book praised by Kethledge is:

Hayek, Friedrich A. The Constitution of Liberty. Reprint ed. Chicago: University of Chicago Press, 2011.

China’s “Surveillance State” Is “the Perfect Rendition of George Orwell’s 1984”

(p. C13) Kai Strittmatter, the author of “We Have Been Harmonized: Life in China’s Surveillance State,” lived in China first as a student and then as a journalist. Full of interesting anecdotes, his book vividly depicts China as the perfect rendition of George Orwell’s “1984” via its implementation of “Smart Cities,” where surveillance cameras and AI algorithms watch and modify every citizen’s every action.  . . .   If we let China run the world, we may all be harmonized.

For the full review, see:

Desmond Shum. “12 Months of Reading; Desmond Shum.” The Wall Street Journal (Saturday, Dec. 11, 2021): C13.

(Note: ellipsis added.)

(Note: the online version of the review has the date December 10, 2021, and has the title “Who Read What: Business Leaders Share Their Favorite Books of 2021.”)

The book praised by Shum is:

Strittmatter, Kai. We Have Been Harmonized: Life in China’s Surveillance State. New York: Custom House, 2020.

Research on Robust Bacteria Immune System, Serendipitously Led to CRSPR Gene-Editing

(p. C8) The author of “The Secret Body,” Daniel M. Davis, is another immunologist by trade.

. . .

Mr. Davis tells us how advances in microscopy have revealed unexpected structures inside human cells, and describes how efforts to map every cell type in the body have turned up a previously unknown tracheal cell that may be pivotal in understanding cystic fibrosis. The daunting structural complexity of the human brain, however, has thus far frustrated attempts to map out even minuscule portions of it.

A recurring theme in “The Secret Body” is “how a discovery of great medical significance [may begin] with relatively obscure research.” Recently, researchers found that bacteria boast a surprisingly robust immune system, which resists viral infection by attacking an intruding virus’s genes. Part of this system, the CRISPR complex, can be used to edit the genomes of human cells, even to tinker with the genetic makeup of embryos.

For the full review, see:

John J. Ross. “The Battle Inside Your Body.” The Wall Street Journal (Saturday, Dec. 11, 2021): C8.

(Note: ellipsis added.)

(Note: the online version of the review has the date December 10, 2021, and has the title “The Defenders: Three Books on the Science of Immunity.”)

The book under review in the passages quoted above is:

Davis, Daniel M. The Secret Body: How the New Science of the Human Body Is Changing the Way We Live. Princeton, NJ: Princeton University Press, 2021.