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Crunch: Why Do I Feel So Squeezed? (And Other Unsolved Economic Mysteries)
According to author Bernstein, economic experts all too often manipulate and distort the science at the heart of important issues. In "Crunch," he offers entertaining, informative, and direct answers to a set of compelling economic questions posed by ordinary people.
241 pages, Kindle Edition
First published January 1, 2008
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March 25, 2019It’s funny
Actually I don’t know what’s funny if anything is
I just wrote that
Mood
Ok so
I finished this book!!! Now I need to write a report on it!!!
It’s a short book and easy fun language so like I can understand it
But hard to write a report on? How will I structure? I can’t remember anything?
My brain cells don’t function
Um
Where
Was
I
Ah
Report
*shakes head*
I can’t remember anything
Right
Book came out long time ago. This was before Obama. Book *i can’t spell* talks about GOOD LORD I WANTED TO WRITE DISCUSSION BUT I SPELLED IT DISGUSION
AHHH
HOW WILL I WRITE A REPORT 😭😭😭
Book came out long time ago
Book discusses stuff problems and solutions but like I barely understand the concepts it talks about and where we are now
In society
So any of his suggestions idk how we can change them
Or what they mean now
And how am I supposed to express that
Fuck
So I am tempted to just like get some HBO free trial but my time is better spent sleeping
Maybe I can recover some brain cells
Jon Snow should have Brain Cells why did I capitalize Brain Cells he should sleep to gain brain cells brain cells are neurons! Nerves! Neurons! The CNS! Myelinated! The sensory! THE AXONS
mood
Actually I don’t know what’s funny if anything is
I just wrote that
Mood
Ok so
I finished this book!!! Now I need to write a report on it!!!
It’s a short book and easy fun language so like I can understand it
But hard to write a report on? How will I structure? I can’t remember anything?
My brain cells don’t function
Um
Where
Was
I
Ah
Report
*shakes head*
I can’t remember anything
Right
Book came out long time ago. This was before Obama. Book *i can’t spell* talks about GOOD LORD I WANTED TO WRITE DISCUSSION BUT I SPELLED IT DISGUSION
AHHH
HOW WILL I WRITE A REPORT 😭😭😭
Book came out long time ago
Book discusses stuff problems and solutions but like I barely understand the concepts it talks about and where we are now
In society
So any of his suggestions idk how we can change them
Or what they mean now
And how am I supposed to express that
Fuck
So I am tempted to just like get some HBO free trial but my time is better spent sleeping
Maybe I can recover some brain cells
Jon Snow should have Brain Cells why did I capitalize Brain Cells he should sleep to gain brain cells brain cells are neurons! Nerves! Neurons! The CNS! Myelinated! The sensory! THE AXONS
mood
October 17, 2014
As a non-economist but interested in finance, I found this book to be interesting... The book is well written and I really enjoy the delivery method of the author's writing (sounds like he's talking to you directly). The content itself is vague and can be applicable to the majority of the population. It brings up common questions and answers it with relatively well thought out arguments. Overall, well enjoyed but not my type of book. if you are interested in economics or want an intro to economics, this is a book I'd gladly recommend.
September 5, 2008
Clear, articulate writing for intelligent readers who are unfamiliar with economics. I was very impressed by the this book on several levels. Bernstein explains concepts in accessible language, giving examples and specifics without becoming incomprehensible or talking down to his reader.
June 23, 2018
I don't read many pre-great recession and pre-obama administration books. They usually are incredibly dated and don't reflect the huge events that occurred during that 8-10 year era.
This book both lives up to my expectations and subverts them.
On one hand, the authors grasp of progressive economics is sound. He lays out an argument for a economic future that directly opposes the status quo embraced by all republicans, and most independents/Democrats. I'm with him 100% (most of his policy recommendations are identical to my own)
However, his relentless optimism, in hindsight, seems utterly unrational in 2018. In 10 years, I'd guess that less than 10% of his policy goals became a reality. Probably 20-30% became official (but very low level priority) policy goals of the Democratic party. And this guy was Joe Bidens chief economist.
Did Joe sleep through his lecture on healthcare policy or something? Did everyone?
It seems like everyone in the white house heard what he had to say...... And did almost none of it. And not only did the public suffer..... The Democrats did as well (falling from a high in 2008-10 to their lowest level of power/representation today).
In retrospect grim doomsayer's like economist Dean Baker and pundits like Thomas Frank got it right..... Even with all the answers, the Democrats enthusiastically chose failure.
What is the answer? To me.... It comes down to money. Specifically, campaign finance money. As Upton Sinclair famously remarked, it is hard to explain something to someone when his paycheck depends on him not understanding what it is you are talking about.
Public election financing is the biggest and most powerful policy we can get to fix this problem. Currently such legislation exists. HR.20, "government by the people act" creats a donation matching system for federal election candidates that matches donated funds 6-1 (witg the caviot that candidates meet certain requirements). It currently has 160 Democrat and 1 republican co-sponsor.
It is the single most important piece of legislation we have right now. If it passes, we have a path to expanding social services, reducing inequality, combating climate change, and solving the great issues of our day.
The author completely missed the necessity of such legislation. Hopefully it catches on in the upcoming 2018-2020 congressional cycle.
3/5 stars.
Audiobook edition.
This book both lives up to my expectations and subverts them.
On one hand, the authors grasp of progressive economics is sound. He lays out an argument for a economic future that directly opposes the status quo embraced by all republicans, and most independents/Democrats. I'm with him 100% (most of his policy recommendations are identical to my own)
However, his relentless optimism, in hindsight, seems utterly unrational in 2018. In 10 years, I'd guess that less than 10% of his policy goals became a reality. Probably 20-30% became official (but very low level priority) policy goals of the Democratic party. And this guy was Joe Bidens chief economist.
Did Joe sleep through his lecture on healthcare policy or something? Did everyone?
It seems like everyone in the white house heard what he had to say...... And did almost none of it. And not only did the public suffer..... The Democrats did as well (falling from a high in 2008-10 to their lowest level of power/representation today).
In retrospect grim doomsayer's like economist Dean Baker and pundits like Thomas Frank got it right..... Even with all the answers, the Democrats enthusiastically chose failure.
What is the answer? To me.... It comes down to money. Specifically, campaign finance money. As Upton Sinclair famously remarked, it is hard to explain something to someone when his paycheck depends on him not understanding what it is you are talking about.
Public election financing is the biggest and most powerful policy we can get to fix this problem. Currently such legislation exists. HR.20, "government by the people act" creats a donation matching system for federal election candidates that matches donated funds 6-1 (witg the caviot that candidates meet certain requirements). It currently has 160 Democrat and 1 republican co-sponsor.
It is the single most important piece of legislation we have right now. If it passes, we have a path to expanding social services, reducing inequality, combating climate change, and solving the great issues of our day.
The author completely missed the necessity of such legislation. Hopefully it catches on in the upcoming 2018-2020 congressional cycle.
3/5 stars.
Audiobook edition.
January 12, 2021
Another book with a different world view than me. Gave me some things to think about.
February 11, 2023
2008 published， nothing much changed.
March 14, 2009
For people who know little about economics, this is a useful introduction written in clear, simple language. I give it five stars because the author understands the crucial economic question of our time and answers it. The question is: Why after decades of continuous economic growth and productivity advances (before the current crash) did most of us feel so squeezed? Why are we working harder and harder to stay in the same place? And the answer: because the vast bulk of the wealth produced by the surge in productivity has gone to a priviliged few at the top of the tree at the expense of the other 99 percent of society.
When I studied economics, the market was treated as an all-powerful force that eventually meted out a rough justice. Berstein understands that this is not the way the world works. "Power, whether it's based on political clout, wealth, class, race or gender, is also a key determinant of who gets what," he correctely states. "More so than in any recent period, those who hold a privileged position in the economic power hierarchy ... the CEOs and the holders of large capital assets, are able to steer the bulk of growth their way."
I was discussing this with a friend who made the following observation: "To my disgust, the way the economy and our politics have performed in recent decades proves that Marx was right." We have to change that, democratically. It's killing our society.
A key example was the George W. Bush tax cuts that steered the bulk of its gains to the wealthiest one percent. Now Obama is having tremendous difficulty repealing them.
This book was written before the current crisis struck yet the author clearly saw it coming. He includes a useful chapter on financial bubbles including a trenchant critique of Alan Greenspan, and makes the point that when bubbles burst, the damage they do is enormous. That's not just the market functioning. Millions of real people get badly hurt and industries get destroyed.
Other interesting chapters cover immigration, trade, protectionsim, healthcare reform and the environment. On the latter, Berstein makes the obvious but important point that leaving the market to manage our environmental challenges is a recipe for disaster. "Economics always seems to assume that more is better than less: more money, more consumption, more investment, more stuff, more, more, more!" Economists prefer more growth today above a less polluted tomorrow (and politicians obviously agree with them). Classical economics does not admit the possibility that the earth's resources are limited. In classical economics, as supply of something goes down, its price goes up until equilibrium is eventually restored. It sounds logical but it doesn't work. Experience teaches us that fisherman will take the last fish out of the ocean before agreeing to limits on their catch unless they are forced to by law. Once the last fish is gone, no doubt the price of fish will go sky high, but that won't make the fish come back.
In short, this book is a useful corrective against those who still believe in unfettered free markets. It demonstrates that free markets work for the few against the many, lead to speculative bubbles and will kill the planet.
When I studied economics, the market was treated as an all-powerful force that eventually meted out a rough justice. Berstein understands that this is not the way the world works. "Power, whether it's based on political clout, wealth, class, race or gender, is also a key determinant of who gets what," he correctely states. "More so than in any recent period, those who hold a privileged position in the economic power hierarchy ... the CEOs and the holders of large capital assets, are able to steer the bulk of growth their way."
I was discussing this with a friend who made the following observation: "To my disgust, the way the economy and our politics have performed in recent decades proves that Marx was right." We have to change that, democratically. It's killing our society.
A key example was the George W. Bush tax cuts that steered the bulk of its gains to the wealthiest one percent. Now Obama is having tremendous difficulty repealing them.
This book was written before the current crisis struck yet the author clearly saw it coming. He includes a useful chapter on financial bubbles including a trenchant critique of Alan Greenspan, and makes the point that when bubbles burst, the damage they do is enormous. That's not just the market functioning. Millions of real people get badly hurt and industries get destroyed.
Other interesting chapters cover immigration, trade, protectionsim, healthcare reform and the environment. On the latter, Berstein makes the obvious but important point that leaving the market to manage our environmental challenges is a recipe for disaster. "Economics always seems to assume that more is better than less: more money, more consumption, more investment, more stuff, more, more, more!" Economists prefer more growth today above a less polluted tomorrow (and politicians obviously agree with them). Classical economics does not admit the possibility that the earth's resources are limited. In classical economics, as supply of something goes down, its price goes up until equilibrium is eventually restored. It sounds logical but it doesn't work. Experience teaches us that fisherman will take the last fish out of the ocean before agreeing to limits on their catch unless they are forced to by law. Once the last fish is gone, no doubt the price of fish will go sky high, but that won't make the fish come back.
In short, this book is a useful corrective against those who still believe in unfettered free markets. It demonstrates that free markets work for the few against the many, lead to speculative bubbles and will kill the planet.
March 2, 2013
A fine primer for economic realities facing us these days. Just a touch dated, as he was attempting to be very up-to-the minute and it was written in 2007 or so; still, it elucidates many important points quite well.
Perhaps this is only personal preference, but I found the jokey, nudge-nudge, wink-wink style in which Bernstein chose to write rather off-putting and condescending. It reminded me of the Dummies books, though they tend to pull off the style rather better than Bernstein does. I think there is some confusion here between being accessible and being cute; it is quite possible to be the one without having to resort to the other. It is hard to take him seriously as either an economist or a social scientist when he seems to be trying so very hard to be liked.
I also found his condemnation of ax-grinding ideologues ironic in light of the ax-grinding ideology contained therein. He makes no bones about being a partisan (and in fact I largely agree with him), but much of what he puts forward as fact is actually theory—well-supported theory, but theory nonetheless. There are many other ways of viewing the same information, and all of them would arrive at different—and equally plausible—conclusions.
Still, the points he makes are valid and ring true for the world in which we live. There are real problems in our economic system and they need to be fixed. We could do worse than to have Jared Bernstein on our side.
Perhaps this is only personal preference, but I found the jokey, nudge-nudge, wink-wink style in which Bernstein chose to write rather off-putting and condescending. It reminded me of the Dummies books, though they tend to pull off the style rather better than Bernstein does. I think there is some confusion here between being accessible and being cute; it is quite possible to be the one without having to resort to the other. It is hard to take him seriously as either an economist or a social scientist when he seems to be trying so very hard to be liked.
I also found his condemnation of ax-grinding ideologues ironic in light of the ax-grinding ideology contained therein. He makes no bones about being a partisan (and in fact I largely agree with him), but much of what he puts forward as fact is actually theory—well-supported theory, but theory nonetheless. There are many other ways of viewing the same information, and all of them would arrive at different—and equally plausible—conclusions.
Still, the points he makes are valid and ring true for the world in which we live. There are real problems in our economic system and they need to be fixed. We could do worse than to have Jared Bernstein on our side.
September 11, 2008
Being from a staunchly socially conservative background, I have never had much cause to investigate the ins and outs of the economic ramifications of the political party I have always supported. This book posed some great questions and caused me to think about economic policy in new way. The author has a PhD in social welfare and he makes a great case for why we need economic policy changes. Although his suggestions seem plausible, I was not entirely convinced that his ideas were the exact solution our country needs right now. I love a good debate (one where arguers are thoughtful and can objectively look at new ideas without passion for a certain cause or agenda tainting their every reaction), and this book had the feel of discussing economic matters with someone from a different point of view. I most enjoyed the discussions about immigration, globalization, the role political power has in determining economic outcomes, and the health care crisis in America. My personal conclusion was that the only way to set up a truly equal society will be after the second coming when Christ rules and reigns. Currently, pride runs rampant both in the top and bottom circles of the economic continuum and destroys any hope for equality. The question remains, what to do in the mean time?
September 6, 2008
So, I had high hopes for this book. And it did okay. But it was wordy and got boring towards the middle, so I ended up just skipping the whole "why" and jumping to straight to the crunchpoints at then end of every question that summed up the answer in a concise two-to-three sentence blurb.
I found the most interesting segment to be on healthcare. Finally, I understand what the problem is. Though there wasn't a lot of solutions offered, at least I can filter through my brain what the issues are and try to sort it out that way. It made perfect sense and I'm glad that I read the book, if only for that part.
I do wish that economists would leave the personal politics behind and focus on the issues. Both sides of the ticket have a lot of things wrong, and your economics book is not the place to root for one side or the other. You should present everything with an unbias view supported by facts.
I tried to read this is about 2 days flat, and I think it became a little overwhelming. Perhaps I would've enjoyed it more had I been reading a novel along side it to break up the content a little.
I found the most interesting segment to be on healthcare. Finally, I understand what the problem is. Though there wasn't a lot of solutions offered, at least I can filter through my brain what the issues are and try to sort it out that way. It made perfect sense and I'm glad that I read the book, if only for that part.
I do wish that economists would leave the personal politics behind and focus on the issues. Both sides of the ticket have a lot of things wrong, and your economics book is not the place to root for one side or the other. You should present everything with an unbias view supported by facts.
I tried to read this is about 2 days flat, and I think it became a little overwhelming. Perhaps I would've enjoyed it more had I been reading a novel along side it to break up the content a little.
February 12, 2010
Why income inequality is growing in America
At last someone has written a lucid explanation of the American middle class's financial stagnation. Economist Jared Bernstein - chief economic adviser to Vice President Joseph Biden - provides a tremendous service to millions of Americans who wonder why so many two-income households remain financially insecure. Bernstein understands that most economics writing is impenetrable. He explains in lively prose why financial inequality is alive and well in 21st-century America. It's an issue the mainstream media rarely covers. The book is structured around the gimmick of answering American's most common questions about economics, and some of the miniessays don't connect, but getAbstract recommends it to working people who want to know why they are entrenched in the proverbial rat race despite political promises that they are on the verge of financial security - a state, Bernstein emphasizes, that will remain elusive for most Americans.
To learn more about this book, check out the following Web page: http://www.getabstract.com/summary/11...
At last someone has written a lucid explanation of the American middle class's financial stagnation. Economist Jared Bernstein - chief economic adviser to Vice President Joseph Biden - provides a tremendous service to millions of Americans who wonder why so many two-income households remain financially insecure. Bernstein understands that most economics writing is impenetrable. He explains in lively prose why financial inequality is alive and well in 21st-century America. It's an issue the mainstream media rarely covers. The book is structured around the gimmick of answering American's most common questions about economics, and some of the miniessays don't connect, but getAbstract recommends it to working people who want to know why they are entrenched in the proverbial rat race despite political promises that they are on the verge of financial security - a state, Bernstein emphasizes, that will remain elusive for most Americans.
To learn more about this book, check out the following Web page: http://www.getabstract.com/summary/11...
October 24, 2008
Economics is one of my least favorite subjects, so you can guess how surprised I was when I actually wanted to keep reading this book. Now in a "all's well with the world" economy, I probably wouldn't care at all about reading a book on economics, but with the turmoil our economy is in, I am interested in what has happened to my net worth, why, and what I can do to keep some money to live on during my retirement.
This author is actually entertaining and somewhat easy to understand in this alien world of economics. If I have to learn about certain topics, this book is the least painful way to do it.
This author is actually entertaining and somewhat easy to understand in this alien world of economics. If I have to learn about certain topics, this book is the least painful way to do it.
December 28, 2015
This audiobook is something of an anomaly--a book on economics written by a liberal leaning economist rather than a conservative leaning one, as is so common. This is the second time I have listened to it, but probably not the last. It is refreshing to see theories that take a different approach from the ones that have caused so much inequity in our economy. And not, it is not a redistribute the wealth from rich to poor book. I recommend this on highly.
Reread--1st reading was 9 March 2009
Reread--1st reading was 9 March 2009
November 12, 2008
At first, I kind of liked the book. Really who can't appreciate economics-oriented haiku? Oh yes, it's in there. But then I kind of felt like even though he was making interesting points, he was being just as disingenuous about his data as the folks he crtiqued. And then it just started to feel like I was being condescended to. Blech. Maybe you'll enjoy it more than me.
October 5, 2011
Excellent. Great explanation of the intertwined worlds of economics, politics and powers. Great, progressive ideas. The author talks from the "We're All in this Together" frame of reference rather than the "You're on Your Own" and "I Did it All on My Own So Why Can't You?" frames of reference. Well worth the read, or in this case listen.
August 21, 2008
Easy read on current economic situation from a left perspective. A bit too cutesy in places but does provide some fundamental economic information and helps those without any economic background understand what's going on.
September 10, 2008
I had a hard time reading this book. There was something about the author's style of writing that had me constantly spacing out. It wasn't the subject matter as I feel he includes a lot of great subjects that are affecting the majority of Americans today.....
March 20, 2013
I started out generally agreeing with Bernstein so there weren't many surprises in Crunch. At the same time, the economics behind those positions was clarified. Moreover, normally sluggish economic discussion is done very well making this a pleasant informative read.
July 30, 2008
Small, easy read. Economics that we "ordinary" folks can understand. Format is question - answer & there's a summary at the end of each segment.
Want to Read
August 24, 2008FAQ's on economic implications of business persons' actions. (WSJ B2 Haymowitz 6/30/08)
September 3, 2008
I give this book 1.5 stars. It was just really boring and not that interesting and I actually like economics and finances.
February 24, 2009
I got a much better idea of what is going on with the economy and why things need to change. Not that I hold out much hope that our country is ready to try some of these solutions.
Read
May 2, 2009bleh. boring. stock analysis written with a flippant style that i found annoying....
May 19, 2012
Not a bad book. Makes sense.
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