The Rationing by Charles Wheelan

THE RATIONING by Charles Wheelan is a fabulous work of political satire set in the near future. The narrator is a scientist who specializes in lurking viruses – generally benign organisms which suddenly become virulent. Some basic science is certainly important to this tale, but there is much more about corporate greed, media manipulation and politics – both domestic and international. The politicians and bureaucrats are referred to only by their titles which, for me, added authenticity to this speculative work. Wheelan’s wry tone and style of writing caused me to almost immediately think of Aaron Sorkin’s West Wing and even more of Allen Drury and his best-sellers, beginning with Advise and Consent. As one quick example, the scientist narrator, preparing to be interviewed on a news show, is told by the Communications Director: “Don’t even listen to the question. When her lips stop moving, you give the answer you want to give.” THE RATIONING is one of those stories about complex real world events where every time the situation seems evenly remotely under control, yet another aspect has the potential to become a crisis or another unintended consequence becomes apparent. Wheelan alluded to numerous “what ifs” as he related this detailed, entertaining account of “utter craziness” as America faced The Outbreak.

If Charles Wheelan’s name seems familiar, it should; he is the author of several non-fiction titles, including Naked Economics which, though published several years ago, is still required summer reading for our AP Economics classes. I can’t wait to see what Wheelan writes next and appreciated his mention in the Acknowledgments of a local independent bookstore, The Book Bin in Northbrook. THE RATIONING received a starred review from Kirkus.

Recent titles about business and economics ...

Here are a few comments about some recently published books dealing with economic issues:

ROCKONOMICS by Alan B. Krueger will be of special interest to those who are curious about the music business.  A former chairman of the Council of Economic Advisers, Krueger provides “A Backstage Tour of What the Music Industry Can Teach Us about Economics and Life.”  In chapters with titles like “The Supply of Musicians,” “The Economics of Superstars,” or “Streaming is Changing Everything,” he looks at this evolving industry from a variety of perspectives. In terms of economics, he notes its size (employing about 0.2% of the workforce), income inequality that is more severe than the larger society, and implications of copyright laws and royalty arrangements. He also writes about the increased reliance on performance revenue as well as alternative ticketing options. Krueger provides charts and graphs to illustrate his points, plus extensive notes and an index. Student researchers will definitely find information and value here, including from the last chapter on “Music and Well-Being” in which Krueger quotes Oliver Sacks and others, noting “part of the reason for the durable power of music appears to be that listening to music engages many parts of the brain, triggering connections and creating associations.” ROCKONOMICS offers a unique reading experience and received a starred review from Booklist.  

THE LEVELLING by Michael O'Sullivan focuses on “What's Next After Globalization.” O’Sullivan, currently chief investment officer for Credit Suisse’s International Wealth Management Division, describes the shift from the world-order of the last forty years to one that is “less interconnected, more multipolar.” He draws parallels with past periods of transition, especially between the Grandees (elites) and the Levellers of the 1640s. A fan of Alexander Hamilton, O’Sullivan devotes another chapter to the question of What would Hamilton do? and outlines some possible courses of action for Europe (e.g., revising and condensing a constitution-type document so as to increase the union’s relevance and force in geopolitics), the United States (e.g., seeing immigration as a necessary part of economic vitality) and China (e.g., promoting development of social infrastructure). In terms of the future, he takes a fairly negative perspective, noting “the probable onset of a recession by early 2020” and “the need to accept expectations that the trend level of growth worldwide will be lower in the next ten to twenty years than it has been over the past forty.” Having used a rather verbose writing style throughout, O’Sullivan concludes with a sweeping statement that the “deep persistent underlying issues in our world are the need to reduce imbalances in indebtedness globally, the need to decommission the vast power of central banks, wealth inequality, the role of women in economies, the search for a new model of economic growth, and the rise of emerging countries to rival incumbent powers.”  His expertise and concern are obvious, but the sometimes convoluted argument does not seem very practical, actionable or, at times, relevant for the general reader.  

Written by Pat Garofalo, THE BILLIONAIRE BOONDOGGLE was published earlier this spring. Garofalo is a managing editor at the Center for American Progress who takes a fairly liberal view, subtitling this work, “How Our Politicians Let Corporations and Bigwigs Steal Our Money and Jobs.” His focus is primarily the interplay between the entertainment and sporting industries and local government and politicians. For example, Garofalo writes about the movie/television industry and explains the tax breaks and subsidies they receive.  He also touches on a number of “celebrity-type” events such as the Olympics and World Cup, arguing that the cost to taxpayers of playing host is rarely if ever, justified, and often “a waste of money that could be used for the greater good.” Although clearly opinionated and sometimes quite informal, Garofalo’s writing style is very accessible and his choice of topics will appeal to students. In fact, there is an entire chapter which discusses “why lotteries and casinos are a bad bet” which is a frequently chosen topic for student research (roughly ten percent of THE BILLIONAIRE BOONDOGGLE is devoted to notes and an index).