Todd Buchholz TOPICS: Business Economics Tax / Finance FEE CATEGORY:* 15.0k to 20.0k TRAVELS FROM: California Video Profile Program Outlines Testimonials/Client List Books & Videos Request This Speaker

Todd Buchholz: Books & Videos

NEW IDEAS FROM DEAD ECONOMIST


Over 150 years ago, Scottish essayist Thomas Carlyle dubbed economics the "dismal science." But it certainly doesn't seem that way in the skillful hands of Todd G. Buchholz, author of New Ideas from Dead Economists. In this revised edition of a book first published in 1989, economics is accessible, relevant, and fascinating. It's even fun--for example, when he uses the cast of Gilligan's Island and Henny Youngman jokes to explain complex economic theories. "Why not have the last laugh on Carlyle by using the dead economists themselves to reverse their bad reputations and to teach the lessons they left to us?" Buchholz surveys and critiques economic thought from Adam Smith's invisible hand of the 18th century to the depression-fighting ideas of the Keynesians and money-supply concepts of the 20th-century monetarists. He also relates classic economic principles to such modern-day events as the fall of communism, the Asian financial meltdown, and global warming. Buchholz includes plenty of anecdotes about the lives of the great economists: Karl Marx, for instance, was an unkempt slob; David Ricardo, the early-19th-century English politician and economist, was among the rare economists to get rich trading stocks; and Maynard Keynes was so homely his friends called him "Snout." Here's a lively and authoritative read for those interested in the past, present, and future of economics. --Dan Ring --This text refers to the Paperback edition.

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MARKET SHOCK

Buchholz's broad picture of the short-term socioeconomic future is cleverly written and entertaining. It's the nature of such crystal ball-gazing that only time will tell if it's wise as well. The nine upheavals Buchholz foresees are the graying of America; consolidation in the mutual fund industry; a "darker America," as minorities play a larger role in the economy; a politically and economically resurgent Japan; European unification; China's entrance into the world economy; global warming; a rise in the U.S. crime rate; and the continuing development of high-tech and biotech businesses, many of which will fail and many of which will change the way we live. To spice up his presentation, Buchholz (New Ideas from Dead Economists) writes short fictional scenarios involving average Americans coping with the upheavals he predicts. He also writes mock news flashes (e.g., French union members demanding that the "new European Central Bank slash interest rates to reenergize France's sagging economy" while Dutch shopkeepers demand the bank raise rates to combat inflation). Such flourishes, combined with his insightful use of demographic data, make Buchholz's look into the future an enjoyable exercise in speculation. However, when telling readers which investment strategies would be best in certain situations, Buchholz turns a bit vague, promising "financial ruin" for "the unprepared" while forecasting that the "savvy investor" will be rewarded with "tremendous opportunities to make money."

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BRINGING THE JOBS HOME

Outsourcing is no longer just a problem for factory workers. Suddenly, software writers and radiologists are easier to hire and work with in India than in Indiana. But who can fault companies for hiring competent labor wherever it’s cheapest? Cost cutting is the engine of capitalism: the worst economic system in the world—except for all the rest! So before we go blaming "Benedict Arnold CEOs" and "greedy capitalists," consider this:

Thanks to the public education system liberals have defended for the past forty years, many high school graduates are nearly functionally illiterate. Not so in India.

Thanks to lobbyists and pro-union immigration laws, foreigners aren’t allowed to stay in the country after they finish their Ph.D.s. So they’re starting companies overseas instead of here.

Thanks to our liberal tax system, employers have to pay extra for American workers to fund Social Security—which no one believes will be solvent in a few decades.

Thanks to a legal system that favors the plaintiff, employers in the United States must worry about lawsuits over spilled hot coffee, trumped up sexual harassment charges, and other frivolous cases.

This election year, we’ll hear a lot of complaining that big business is abandoning the little guy and being unpatriotic. But it’s actually left-leaning politicians who have made America less competitive. Respected economist Todd G. Buchholz will recommend fixes for our education, immigration, tax, and legal systems that will make America lean and muscular again—and make our labor pool the most attractive in the world.

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FROM HERE TO ECONOMY

The news contains major stories about various aspects of the economy, from the stock market to inflation to GATT. For the nonspecialist, the economic concepts involved may be daunting. According to Buchholz, "most people have found economics to be like a bad steak: dry, tough, and tasteless." Buchholz, who has served as associate director of economic policy and deputy executive secretary of the White House Economic Policy Council, here aims to demystify economics. Using contemporary examples to explain key economic principles, he presents an uncomplicated and clear analysis. The book is divided into five parts: macroeconomics, microeconomics, international economics, business and individual investment, and history of economic thought. The appendix lists "Greatest Hits of Economics," including the five top economists; a helpful list of suggested readings is included. Recommended for public libraries as a complement to the author's previous New Ideas from Dead Economists: An Introduction to Modern Economic Thought (NAL, 1989).

Lucy Heckman, St. John's Univ. Lib., Jamaica, N. Y.

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