Summary of Ross Gregory Douthat's The Decadent Society , livre ebook

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30 pages

English

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Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 In 2015, a young man comes to New York City and starts a company that plans to host a music festival. The festival's online rollout is a success, but the entrepreneur has to keep inventing new perks to sell tickets to cover the costs of the ones that have already been purchased.
#2 A girl from Texas grows up wanting to be Steve Jobs, and she builds a company that revolutionizes the blood testing industry. But over time, as the company keeps expanding, it ceases to be an innovator and instead a fraud.
#3 Decadent economies are ones in which the cutting edge of capitalism is defined by let's-pretendism: technologies that have almost arrived, business models that are on their way to profitability, and runways that go on and on without ever achieving liftoff.
#4 Many people in Silicon Valley believe that the promise of Silicon Valley is still alive, and that the Internet economy is as real as it gets. But this tells us that twenty-first-century growth and innovation are not what we were promised.

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National

American Government

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Publié par	Everest Media LLC
Date de parution	05 avril 2022
Nombre de lectures	0
EAN13	9781669377634
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0150€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Insights on Ross Gregory Douthat's The Decadent Society
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3
Insights from Chapter 1

#1

In 2015, a young man comes to New York City and starts a company that plans to host a music festival. The festival's online rollout is a success, but the entrepreneur has to keep inventing new perks to sell tickets to cover the costs of the ones that have already been purchased.

#2

A girl from Texas grows up wanting to be Steve Jobs, and she builds a company that revolutionizes the blood testing industry. But over time, as the company keeps expanding, it ceases to be an innovator and instead a fraud.

#3

Decadent economies are ones in which the cutting edge of capitalism is defined by let's-pretendism: technologies that have almost arrived, business models that are on their way to profitability, and runways that go on and on without ever achieving liftoff.

#4

Many people in Silicon Valley believe that the promise of Silicon Valley is still alive, and that the Internet economy is as real as it gets. But this tells us that twenty-first-century growth and innovation are not what we were promised.

#5

In 2017, the year after a socialist challenged for the Democratic nomination and a populist Republican was elected president, the US economy passed a notable milestone. For the first time, as measured in dollars adjusted for inflation, the median American family was earning more than $60,000 a year.

#6

The deceleration of economic growth began around the time of the moon landing. In the United States, hourly wages peaked in the early 1970s and have declined since, household income growth has slowed, and the larger economy has experienced so-called stagflation and three recessions.

#7

There is still more economic dynamism in America than in Italy or Greece, but not as much as the clichés of American exceptionalism would suggest. The dearth of corporate investment and innovation means that the steady climb of the stock market has boosted the wealth of a rentier class rather than reflecting or driving a general increase in prosperity.

#8

These trends of declining investment, the rise of the shareholder-as-rentier, and the loss of wanderlust are all happening within a new age of corporate consolidation.

#9

The great stagnation of the developed world is overdetermined, and can be attributed to a number of factors. Neoliberalism is often blamed, as it is the theory that free markets and free trade are the best way to grow economies. But it is also argued that neoliberalism has hollowed out Western economies, offshoring productive industries and killing decent jobs.

#10

The same argument against free trade applies to the broader neoliberal program. It is possible that lower tax rates spur growth and innovation, but it is also possible that a program of permanent upper-bracket tax cutting will not produce the spillover effects among the bottom 95 percent.

#11

The Piketty model, which describes the inevitable drift of capitalism, was extremely controversial. But for our purposes, it’s enough to say that the modern upper class has consolidated its position.

#12

The problem isn’t just inequality and austerity, but also the fact that we’ve entered an age of economic limits. There aren’t enough impressive enterprises to invest in, and the developed world is slowly becoming accustomed to unexpected limits on its future possibilities.

#13

The weight of demographics, the overhang of debt, and the collapse in Western and East Asian birthrates combine to make existing welfare programs more expensive, future GDP growth more limited, and the culture of the developed world more cautious, complacent, and risk averse.

#14

The constraints on growth are not only social, but also environmental. The Western world is slipping in terms of literacy and IQ rates, and the world is not ready to adapt to climate change.

#15

The idea of the technological sublime refers to shared cultural moments in which some feat of technical mastery elicits the same kind of spiritualized reaction as the majesty of nature or the glory of France's Chartres Cathedral. But has anything that fits this description happened since the moon mission.

#16

The technological sublime does not renew itself with each generation. And though we are accustomed to that fact, it is not what was expected fifty years ago.

#17

The Internet sounds far more marvelous than it is. It is just a bunch of videos and songs on your phone. Other than that, it looks exactly the same as it did in 1950.

#18

The Silicon Valley billionaire Peter Thiel likes to snark that we were promised flying cars. We got 140 characters. Many people in the early and middle years of the twentieth century expected developments that now seem unrealistic: a fifteen-hour workweek, for example, which the British economist John Maynard Keynes assumed would be sufficient for the old Adam once the New Jerusalem of plenty had arrived.

#19

We have come to expect constant, drastic technological progress, and when that doesn't happen, we become frustrated and demand that it happen. Meanwhile, we also hype the changes that are supposedly just around the corner.

#20

While there have been some advances in renewable energy, real energy prices are

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