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Juggernaut: Why The System Crushes The Only People Who Can Save It
By now, everyone recognizes the severity of the 2007-08 financial crisis. But, to many Americans, the bailouts, stimulus packages, and regulatory schemes aimed at solving the problem seemed to merely pull the economy further into the mire of bureaucracy, party politics, and unsustainable debt that led to the crisis in the first place. Only the bankers and officials who caused the problem were in a position to solve it, and so fixing the system necessarily meant becoming part of it--and thus making it even harder to fix. This is the crux of the Juggernaut.
A sprawling, uncontrollable system that only grows larger and more berserk the more we try to quell it, the Juggernaut has become a way of life. It is not, as many would suggest, a product of the last ten or even thirty years. Rather, it is inherent in the system itself, with roots that reach as far back as Columbus and the dawn of modern times.
In this stunning new story of political economy, author Eric Robert Morse examines why the modern system has become so unwieldy and explains what must be done to correct it. His astute analysis and fascinating storytelling take readers on an epic journey, from the dawn of Free-Market Capitalism during the Age of Exploration, through the Industrial Revolution and Adam Smith, to the rise of Keynesianism and the dominance of the Welfare State.
Drawing from all corners of political, social, and economic study, including specialism and the division of labor, competition and Game Theory, and Statism and Public Choice Theory, Morse weaves together a groundbreaking economic theory, which promises to shake up the current political discourse and usher in a new era of cooperation and prosperity.
A sprawling, uncontrollable system that only grows larger and more berserk the more we try to quell it, the Juggernaut has become a way of life. It is not, as many would suggest, a product of the last ten or even thirty years. Rather, it is inherent in the system itself, with roots that reach as far back as Columbus and the dawn of modern times.
In this stunning new story of political economy, author Eric Robert Morse examines why the modern system has become so unwieldy and explains what must be done to correct it. His astute analysis and fascinating storytelling take readers on an epic journey, from the dawn of Free-Market Capitalism during the Age of Exploration, through the Industrial Revolution and Adam Smith, to the rise of Keynesianism and the dominance of the Welfare State.
Drawing from all corners of political, social, and economic study, including specialism and the division of labor, competition and Game Theory, and Statism and Public Choice Theory, Morse weaves together a groundbreaking economic theory, which promises to shake up the current political discourse and usher in a new era of cooperation and prosperity.
- GenresEconomics
616 pages, Paperback
First published September 13, 2010
About the author
Eric Robert Morse
29 books34 followersEric Robert Morse is an entrepreneur and Amazon best-selling author of several nonfiction books, including Never Daunted, Juggernaut, Psychonomics, The 90-Minute Effect, and The Economic Theory of Sex, and two novels, Monaco and Ricky Wills It. He is also the author and illustrator of children's books Lina the Javelina and Charlie the Charro. He lives in Boerne, Texas with his wife and three children.
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Displaying 1 - 4 of 4 reviews
May 21, 2012
Great historical background and description of our system problems, but sketchy diagnosis and solutions
Every once in a while there’s an independent writer that, unencumbered from ties to any institution or publishing company, is free to write on topics that most established pundits won’t. These high profile intellectuals won’t venture there because they may consider that the subject matter may be too “obvious”, too speculative, or outside the space range where an original contribution can be made. Juggernaut is the first book I read by Eric Robert Morse, but judging by it and by the title of some of his other publications, he may well be one of these independent thinkers.
Juggernaut is based on a simple premise: as a consequence of the Closing of the Frontier, our system has become a zero-sum game with everyone striving for one goal, Money. We are trapped not only in a physical nation (frontier) but also, more significantly, into a political system. This “Juggernaut” can only get bigger and more encumbered, and the only way to fix it is through more regulation, which only puts more strain in the wrong direction. Morse basic premise here is that the only function of Government is to transfer wealth (see chapter III.3 – The Costs of Transferring Wealth). This last point (Big Bureaucratic Government) is the core of Morse’s diagnosis, and also where he focuses his energies at trying to propose a solution. It is important to note that although this may seem traditional Right Wing ideology, he goes beyond that and after reading the book one gets a genuine impression that he is not following a specific creed.
Morse presents his theses with an historical narrative of economics (and some political) theory. He starts with the Founding Fathers of economic thought to the early 2000s. This is really the main reason why anyone would want to read this book. It is a really well written (though selective) history of economics. Chapter I.4 (The Abstraction of Wealth) is a very good introduction to Money, and a very good example of what Morse can do.
After presenting this background information (History), the author develops his thesis, with the main diagnosis summarized above. It then becomes problematic. Morse’s verdict that the only function of Government is to transfer wealth is plausible and elegant in its simplicity, but there are many other dimensions that are not discussed in this book (the pacifying role of Government is one example, as discussed in Steven Pinker’s “The Better Angels of Out Nature”). There are other fun simplifications, like comparing Social Security and Medicare to a gigantic Ponzi scheme (page 411), but overall Morse fails to convince that the problems we have (which are correctly stated) are only the result of the Juggernaut (Big Clumsy Government).
But the greater disappointment comes when Morse proposes a solution. Part IV (Autarcky) is dedicated at sketching short-term and long-term answers to our problems. His short-term solutions are general liberal wisdom (this is were you can confirm that Morse is not following GOP): buy independent, make your own stuff, start a small business, use the Internet to avoid the city, etc. For the long term solution, we get straight into science fiction and futurists territory, and most of it is better covered in Ray Kurzweil’s “The Singularity Is Near: When Humans Transcend Biology”. Basically, Nanotechnology will solve all our material problems (Morse is a little less extreme in his argument, but since he makes a prediction to 2300, subtleties don’t really matter).
It’s easy to agree with the symptoms that are explained in the book, and although you may not agree with the disease and the medication, this type of argument are nevertheless interesting to read and think about. And they only come from independent writers these days.
Every once in a while there’s an independent writer that, unencumbered from ties to any institution or publishing company, is free to write on topics that most established pundits won’t. These high profile intellectuals won’t venture there because they may consider that the subject matter may be too “obvious”, too speculative, or outside the space range where an original contribution can be made. Juggernaut is the first book I read by Eric Robert Morse, but judging by it and by the title of some of his other publications, he may well be one of these independent thinkers.
Juggernaut is based on a simple premise: as a consequence of the Closing of the Frontier, our system has become a zero-sum game with everyone striving for one goal, Money. We are trapped not only in a physical nation (frontier) but also, more significantly, into a political system. This “Juggernaut” can only get bigger and more encumbered, and the only way to fix it is through more regulation, which only puts more strain in the wrong direction. Morse basic premise here is that the only function of Government is to transfer wealth (see chapter III.3 – The Costs of Transferring Wealth). This last point (Big Bureaucratic Government) is the core of Morse’s diagnosis, and also where he focuses his energies at trying to propose a solution. It is important to note that although this may seem traditional Right Wing ideology, he goes beyond that and after reading the book one gets a genuine impression that he is not following a specific creed.
Morse presents his theses with an historical narrative of economics (and some political) theory. He starts with the Founding Fathers of economic thought to the early 2000s. This is really the main reason why anyone would want to read this book. It is a really well written (though selective) history of economics. Chapter I.4 (The Abstraction of Wealth) is a very good introduction to Money, and a very good example of what Morse can do.
After presenting this background information (History), the author develops his thesis, with the main diagnosis summarized above. It then becomes problematic. Morse’s verdict that the only function of Government is to transfer wealth is plausible and elegant in its simplicity, but there are many other dimensions that are not discussed in this book (the pacifying role of Government is one example, as discussed in Steven Pinker’s “The Better Angels of Out Nature”). There are other fun simplifications, like comparing Social Security and Medicare to a gigantic Ponzi scheme (page 411), but overall Morse fails to convince that the problems we have (which are correctly stated) are only the result of the Juggernaut (Big Clumsy Government).
But the greater disappointment comes when Morse proposes a solution. Part IV (Autarcky) is dedicated at sketching short-term and long-term answers to our problems. His short-term solutions are general liberal wisdom (this is were you can confirm that Morse is not following GOP): buy independent, make your own stuff, start a small business, use the Internet to avoid the city, etc. For the long term solution, we get straight into science fiction and futurists territory, and most of it is better covered in Ray Kurzweil’s “The Singularity Is Near: When Humans Transcend Biology”. Basically, Nanotechnology will solve all our material problems (Morse is a little less extreme in his argument, but since he makes a prediction to 2300, subtleties don’t really matter).
It’s easy to agree with the symptoms that are explained in the book, and although you may not agree with the disease and the medication, this type of argument are nevertheless interesting to read and think about. And they only come from independent writers these days.
July 18, 2011
The historical economic analysis of the first half or so of this book was well reasoned and logical (although the absence of footnotes should be noted with an ounce of scepticism). Up to about the FDR administration the argument had more than a modicum of plausibility, but after that it was a rapid slide downhill. Morse's analysis of our recent economic and political climate (a mess, to be sure, perhaps even a "Juggernaut") relied on unsupported premises and mere characterizations. Facts were notably absent and the theory became more and more divorced from reality. By the last portion of the book, it became literally laughable. Here are a few of my favorite examples:
1. Make your own fabric and clothing from a "cotton tree"; don't worry about your skills because present fashions are retro anyway.
2. Soon we will all have Great Fabricator machines that can make anything for each of us on demand (including "filet mignon, three yards of damask silk, a 1965 Ford Mustang"). It will usher in "universal peace and prosperity." ...and the raw materials will come from...?
3. Get yourself a mule and 40 acres on the New Frontier - oh no, he isn't going to say this - yes, floating cities and Venus!
He begins hedging his bets: although self-sufficiency is his touchstone, well, maybe a community of 100,000 is fine if everyone joins voluntarily, each neighborhood issues it's own currency, and everyone lives by the motto "harm no one". By this point, I should not have been surprised when he referenced the Tea Party with favor.
Was this whole book meant as satire? I hope not because the first half was informative and worthwhile. I hope so, because the second half will bring out the guffaws.
1. Make your own fabric and clothing from a "cotton tree"; don't worry about your skills because present fashions are retro anyway.
2. Soon we will all have Great Fabricator machines that can make anything for each of us on demand (including "filet mignon, three yards of damask silk, a 1965 Ford Mustang"). It will usher in "universal peace and prosperity." ...and the raw materials will come from...?
3. Get yourself a mule and 40 acres on the New Frontier - oh no, he isn't going to say this - yes, floating cities and Venus!
He begins hedging his bets: although self-sufficiency is his touchstone, well, maybe a community of 100,000 is fine if everyone joins voluntarily, each neighborhood issues it's own currency, and everyone lives by the motto "harm no one". By this point, I should not have been surprised when he referenced the Tea Party with favor.
Was this whole book meant as satire? I hope not because the first half was informative and worthwhile. I hope so, because the second half will bring out the guffaws.
September 19, 2012
The beginning was very introductory economics. The middle somewhat repetitious and dry. The climax comes in Part 3. A fascinating and enlightening look at government intervention.... I put that on my list to re-read someday. The final portion, somewhat a prescription for future change and direction was less than appealing. Somewhat pie-in-the-sky - but I credit him for looking for solutions.
Displaying 1 - 4 of 4 reviews