5.0 out of 5 stars Fantastic Analysis of Modern Macroeconomics….for anyone, May 10, 2009
Tungsten Silicide “WSix” (Eugene, OR USA) – See all my reviewsThis book is very unique and highly recommended. John Hively predicts the economic meltdown of 2008 all the way back in the spring of 2006, when this book was originally published. John Hively has done a great job presenting a plausible analysis of modern american economic history in layman’s terms. The only thing missing are charts and data tables – maybe a couple photos would be nice as well. Mr Hively’s chief assertion in this book is that the incessant drive for increasing corporate dividends is what sends America into recessions / depressions. When dividends rise faster than profits, CEOs begin to cut spending and slash jobs – which actually causes recessions due to weakened demand. Lost wages are thus transformed into corporate profits, which are then spit out as dividends. His arguments are very compelling. Mr Hively’s visions for a future free from corporations are a bit northwest-idealist unrealistic, but they take up so little of the book that I wasn’t even annoyed. Nonetheless, he makes a very valid point that limited liability corporations are bad for the common man in many ways. This is the best book I’ve read for many years. More exciting than ‘the Stranger’, more useful than ‘the Prince’, more insightful than Freud and Nietzche combined (well…). This book is the ‘Origin of Species’ of modern macroeconomics. Buy it!!