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# Highly Recommended《Bran-New + 2016 Hardcover Edition + How A Wealthy Nation Can Avoid From Collapse Economically, Politically and Culturally》Todd G. Buchholz - The Price of Prosperity : Why Rich Nations Fail and How to Renew Them

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This International and New York Times bestseller in hardcover edition is a bran-new book and still wrapped with new-book plastic wrapper. The original new book is sold at usual price RM132.26 (Hardcover). Now here Only at RM33. In this bold history and manifesto, a former White House director of economic policy under President George H. W. Bush exposes the economic, political, and cultural cracks that wealthy nations face and makes the case for transforming those same vulnerabilities into sources of strength—and the foundation of a national renewal. Is the loss of empire inevitable? No. Can a community spirit be restored in the U.S. and in Europe? The answer is a resounding yes. “Nations are just as likely to unravel after periods of prosperity as after periods of depression.” We cannot retrieve the jobs of our grandparents, but we can embrace uniquely American traditions, while building new foundations for growth and change. Buchholz offers a roadmap to recovery, and calls for a revival of national pride and patriotism to help us come together once again to protect the nation and ensure our future. To understand how great powers unravel, Buchholz identifies five potent and paradoxical forces that undermine nations after they achieve economic success. These include ● falling birthrates, ● globalized trade, ● rising debt loads, ● an eroding work ethic, and ● waning patriotism. America and other developed countries, including Germany, Japan, France, and Great Britain are in desperate straits. The loss of community, a contracting jobs market, immigration fears, rising globalization, and poisonous partisanship—the adverse price of unprecedented prosperity—are pushing these nations to the brink. Acclaimed author, economist, hedge fund manager, and presidential advisor Todd G. Buchholz argues that without a sense of common purpose and shared identity, nations can collapse. The signs are everywhere: Reckless financial markets encourage people to gamble with other people’s money. A coddling educational culture removes the stigma of underachievement. Community traditions such as American Legion cookouts and patriotic parades are derided as corny or jingoistic. Newcomers are watched with suspicion and contempt. As Buchholz makes clear, the United States is not the first country to suffer these fissures. In The Price of Prosperity he examines the fates of previous empires—those that have fallen as well as those extricated from near-collapse and the ruins of war thanks to the vision and efforts of strong leaders. He then identifies what great leaders do to fend off the forces that tear nations apart. This is an excellent book distilling the problem of rich countries into simple acts: ① as countries get richer, fertility rate drops; ② immigrants are needed to do jobs that the local bred won't do; ③ society gets fragmented as it gets more diverse or ④ society cease to exist as its population shrinks. The clarity of this book makes it easy to understand recent trends in all the prosperous countries. The second part is mainly about historical heroes who manages to handle these problems. ----------------------------------------------- Review From Publisher Weekly : Buchholz, director of economic policy in the George H.W. Bush White House, examines the forces that threaten to bring down wealthy countries, observing of the modern-day U.S., that “it is hard to get a country to ‘rally around the flag’ when everyone stomps off in his or her own direction.” He states that it’s a dangerous mistake to think societies are invincible just because they have wealth, citing the Ottoman and Austro-Hungarian Empires to show that great wealth will not necessarily protect a regime. In search of examples of strong leadership, he turns to Alexander the Great, Japan’s Meiji Restoration, Israeli prime minister Golda Meir, and Costa Rican president José Figueres Ferrer, among others. He also draws a grim picture of the U.S. as a country hamstrung by an aging populace, trade deficits, debt, a suffering work ethic, and loss of national identity. Buchholz charges that Americans no longer identify as Americans first, but he neatly avoids the trap of whining about the decline of patriotism, focusing instead on quantifiable social and economic change. Some sketched-out solutions are offered, but overall this is less a rallying cry than an interesting view on what makes—and breaks—a wealthy nation. --------------------------------------------------- Review By Washington Independent: An economist wants to make Americans feel proud again. Patriotism and national pride are explosive issues in the era of Donald Trump and Brexit, but economist Todd Buchholz argues that a nation cannot prosper without them. He has issued “the Patriotist Manifesto,” proclaiming that pride in one’s country is a good thing. The author is an economist, hedge-fund manager, inventor, White House adviser, author, and co-producer of “The Jersey Boys.” His earlier books defended free trade and predicted instability in the European Union. The Price of Prosperity: Why Rich Nations Fail and How to Renew Them addresses the problem of national economic decline. Buchholz fears that the American dream is dying. “Our national symbol should be the splinter,” he says, because “the United States no longer coheres.” To knit the nation together, we must renew “the sentiments of loyalty and patriotism in a disparate collection of people.” Neither Donald Trump, nor his slogan, “Make America Great Again,” are mentioned, but they are examples of the trends that Buchholz identifies. Prosperity creates unique problems, says Buchholz. In the U.S., birthrates are falling, people work less and borrow more, and bureaucracy stifles initiative. All true. But if these were our only problems, we would still be better off than Japan, where “more adult diapers are sold than child diapers,” and France, where most workers are employed by the government and work only 35 hours per week. If the nation is divided, it is for two main reasons: trade and immigration. “Workers feel threatened by a combination of foreign machines and foreign people,” says the author. But restricting trade is not an option, because “nations cannot grow rich without trading.” The debate on immigration, therefore, is key for Buchholz. The central thesis of The Price of Prosperity is that falling birthrates require rich nations to accept immigrants. But immigrants can “splinter the dominant culture” unless the nation’s civic and cultural institutions are strong enough to assimilate them. Buchholz believes that our national institutions are lacking. This is a difficult argument to make in the face of four centuries of American immigration. Call us a melting pot, a salad bowl, the land of liberty, or the home of slavery, no one can dispute that immigration is a core element of this nation’s DNA. And we have a long history of surmounting the tensions and strife caused by racial, ethnic, and linguistic diversity. But Buchholz is not convinced. He complains that immigrants today speak little English, live in ethnic enclaves, follow ethnic media, lack diversity (too many Hispanics?), and return occasionally to their homelands. Because similar statements were made about Italian, Jewish, and Chinese immigrants in the 19th century, Buchholz struggles to distinguish that era from our own. The low point of this exercise comes during a discussion of America’s national character. Borrowing, in part, from author Angela Duckworth, Buchholz says that Americans traditionally display “Grit, Mobility, and Confidence.” So far, so good. But the author finds more grit among immigrants today than among young Americans. Foreigners “come by train, truck and ship” to perform manual labor, he says, while our youth are slackers. “For every Mark Zuckerberg in his dorm room, thousands of young men in hoodies are sitting on a sofa in their mom’s basement, bravely chasing avatars in World of Warcraft.” The book then shifts focus. Immigration today has its dark side — illegals, drug wars, sanctuary cities, terrorism, Trump and anti-Trump rallies — but they are not discussed. Instead, we read about foreign leaders who guided their nations through bloody periods of war and national renewal. We learn, for example, that Alexander the Great conquered a multicultural empire, Kemal Ataturk created modern Turkey, and the Meiji in Japan destroyed the Samurai. One might suspect that Buchholz foresees a major war in the Middle East or the collapse of the European Union — but no. He simply wants to teach lessons about leadership, such as great leaders should “kick aside conventional wisdom” and make people feel “pride in their country.” The author recommends policies to reduce unemployment in the U.S. and control the national debt, but his most controversial proposal is the Patriotist Manifesto. A “patriotist” is defined as a patriot who believes it is a “good thing” to be patriotic. The manifesto is “a call and a code to guide people who believe that their nation’s very existence brings about more liberty and justice in the world.” It opposes “cultural incursions that would destroy the character of the nation,” and requires immigrants “to understand and embrace” the nation’s history. An important debate has begun about the role of nationalism in a globalized economy. Europeans are searching for ways to combat rising separatism in the wake of Britain’s vote to leave the E.U. And in the U.S., former Obama adviser Larry Summers has proposed a trade policy of “responsible nationalism” to avoid “more populist demagogues contending for high office.” But The Price of Prosperity is a flawed contribution to this debate. It is an odd mix of economic analysis, sociology, selective history, and political polemic leading to the provocative conclusion that the world needs more patriotism and nationalism. The author’s tone is upbeat, but his analysis of our current ills is grim, and his proposed remedy is vague and unsettling, particularly as presented in the Patriotist Manifesto. Patriotism is a noble sentiment, but it can be misused. Buchholz fails to explain the difference. ------------------------------------------------ About the Author Todd G. Buchholz is a former White House director of economic policy, managing director of the legendary Tiger hedge fund, and winner of Harvard’s annual teaching prize in economics. He is the author of New Ideas from Dead CEOs and New Ideas from Dead Economists, and has written for the New York Times, Wall Street Journal, Time, and Forbes. He regularly appears on PBS, NPR, Fox, and CNBC and is a co-producer of the Broadway hit Jersey Boys. Buchholz lives in San Diego, California.

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