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Back to Work: Why We Need Smart Government for a Strong Economy
Audible Audiobook
– Unabridged
President Bill Clinton gives us his views on the challenges facing the United States today and why government matters - presenting his ideas on restoring economic growth, energy, job creation, resolving the mortgage crisis, and financial responsibility, and offering a plan to get us "back in the future business". He explains how we got into an economic crisis, and lays down a plan for long-term prosperity. He also offers specific recommendations on how we can put people back to work, increase bank lending and corporate investment, double our exports, restore our manufacturing base, and create new businesses. He supports President Obama's emphasis on green technology, saying that changing the way we produce and consume energy is the strategy most likely to spark a fast-growing economy while enhancing our national security.
Clinton also stresses that we need a strong private sector and a smart government working together to restore prosperity and progress, demonstrating that whenever we've given in to the temptation to blame government for all of our problems, we've lost our ability to produce sustained economic growth and shared prosperity. He believes our ability to compete in the 21st century is dependent on our willingness to invest in infrastructure: we need faster broadband, a state-of-the-art national electrical grid, modernized water and sewer systems, and the best airports, trains, roads, and bridges.
"There is simply no evidence that we can succeed in the 21st century with an anti-government strategy", writes Clinton, based on "a philosophy grounded in 'you're on your own' rather than 'we're all in this together.'" He believes that conflict between government and the private sector has proved to be good politics but has produced bad policies, giving us a weak economy with not enough jobs, growing income inequality and poverty, and a decline in our competitive position. In the real world, cooperation works much better than conflict, and "Americans need victories in real life."
PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.
- Listening Length5 hours and 16 minutes
- Audible release dateNovember 8, 2011
- LanguageEnglish
- ASINB0064JG172
- VersionUnabridged
- Program TypeAudiobook
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Product details
| Listening Length | 5 hours and 16 minutes |
|---|---|
| Author | Bill Clinton |
| Narrator | Bill Clinton |
| Whispersync for Voice | Ready |
| Audible.com Release Date | November 08, 2011 |
| Publisher | Random House Audio |
| Program Type | Audiobook |
| Version | Unabridged |
| Language | English |
| ASIN | B0064JG172 |
| Best Sellers Rank | #260,749 in Audible Books & Originals (See Top 100 in Audible Books & Originals) #256 in Economic Public Policy #614 in Conservatism & Liberalism #1,025 in Economic Policy |
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Customers find the book very insightful, informative, and interesting. They describe it as a good, effective, refreshing read. Readers also mention the book is concise and easy to understand.
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Customers find the book very insightful, informative, and interesting. They say it provides a thoughtful outline of what is going on in our world. Readers also appreciate the good points and frank assessment of what worked and didn't. In addition, they say the author does an outstanding job of taking complex political research and distilling it into an easy-to-read format.
"...It is a straight up discussion of ideas and frank assessment of what worked and didn't work and careful discussion of what might work in the future...." Read more
"Overall, I found Clinton's book very insightful and thought-provoking, especially with the looming election season and the recent onslaught of anti-..." Read more
"...I love how Clinton had facts, statistics, and experiences to back up his views. The book is well researched...." Read more
"...Nevertheless, this book illustrates that he either has a pretty good grasp of the subject or, as the great leader that he is, he pays rapt..." Read more
Customers find the book good, effective, and refreshing. They say it's important to read for anyone who wants the macro view. Readers also mention the second half of the book is better, perceptive, and informative.
"...But we can take it away from ourselves," (pg 117). This book reads as a heartfelt effort, an act of love for America and the American people." Read more
"...This is an intelligent book. Clinton does not angrily reject ideas that benefit both the wealthy and the not-so-wealthy...." Read more
"...After all this, I still feel that Clinton has written an effective little book that is easily understood by the average reader and should be read by..." Read more
"...Understandably, his political insights are deadly accurate and important to read for anyone who wants the macro picture of Washington in our time...." Read more
Customers find the book easy to read and understandable. They say it's presented in a concise manner, making complex ideas easy to understand and follow. Readers also mention the writing style is clear and concise.
"...to creating more jobs, and although this is practical and makes the text easily understood, it feels as if other politicians should be reading this..." Read more
"...and a passionate call to action that is very readable and given in plain language. And it is all backed up with fact...." Read more
"...Back to Work" reads like a long speech, spurts of ideas in short, easily digestible phrases...." Read more
"...But is anyone listening (or is it reading)? The book is an easy read actually but too many people don't read; or listen; or they lazily let others..." Read more
Customers find the book worth every cent. They say it's an excellent transaction and product.
"...The houses gain value. The policies have already been done on small scales in various places...." Read more
"...idea because they were all thoughtful and thought-provoking, they were all reasonable, and because they represented such a wide range of ideas..." Read more
"...shows why his tenure as President was marked by the greatest economic performance in my lifetime, and why he is by far the greatest President of my..." Read more
"...Worth every cent." Read more
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His heartfelt belief in America comes through again and again. He says, "I do believe in American exceptionalism. My life has been graced by it," (pg 113) and "I don't know how this will turn out. I just know that for more than two hundred years, everyone who's bet against the United States has lost." (pg 192)
He has a low opinion of antigovernment ideology and says, "There is simply no evidence that we can succeed in the twenty-first century with an antigovernment strategy." (pg 118)
A brief survey of what is in this book:
Part I "Where We Are" includes; Chapters 1-3 (pgs 1-54) "Why we need government" (a philosophical discussion as well as historical review) and the antigovernment movement, Chapter 4 "Debt" and Chapter 5 "Competition" (total, 116 pgs)
Part II "What Can We Do" includes; Chapter 6 "How do we get back in the future business" (pg 117-188) Pages 122-185 include a 48 point list and description of how each point might benefit America.
I tend to avoid political books, but this isn't an ideological book; it reminds me a bit of Thomas Friedman's best book "The World is Flat" in the references to multiple examples of other businesses and countries, but this book is all about making America succeed into the future. It is a straight up discussion of ideas and frank assessment of what worked and didn't work and careful discussion of what might work in the future. What impressed me was the statistics, examples and research instead of posturing and rhetoric. For example, "Both mobility studies conclude that the success of the nations doing better than we are is due to government policies that equalize opportunities and prepare their people to seize them." (pg 106) This nonpolitical approach to problems seems more contemporary and valuable.
Perhaps with this book, the wisdom of former president Bill Clinton will help to point the way back to the American Dream. In my opinion, this book, based on philosophical contemplation, experience and research is his best by far because I think we are getting the absolute best from him. He makes the point "No one can take the future away from us. But we can take it away from ourselves," (pg 117). This book reads as a heartfelt effort, an act of love for America and the American people.
Clinton disagrees with those who view government as a problem. The recent economic meltdown happened because banks were overleveraged--and this happened because there was insufficient government oversight. We did not have a full-scale depression because the government saved the financial system from collapse and used the stimulus to keep unemployment 1.5 to 2 percent lower than it would have been. Government was part of the solution. "Over the last three decades, whenever we've given in to the temptation to blame the government for all our problems, we've lost our commitment to shared prosperity, balanced growth, financial responsibility, and investment in the future." (p. 14)
Clinton outlines the proper role. "Government should empower us to do things we need or want to do that we can only do together by pooling our resources and spending them in large enough amounts... (p. 48). Specifically, government agencies and regulations should play a large role in the following areas: National security; assistance to those unable to fully support themselves; decent retirement for seniors; equal access to opportunity; economic development; oversight of the financial sector; protection of public interests the market cannot fix; investments for long-term, large-scale projects; and collection of revenue. (p. 49)
The most important short-term issue is government debt. "There are only three things we can do... restrain spending below current projections, raise taxes, and grow the economy faster. We have to do all three." (p. 56). The author outlines a strategy for this three-pronged attack. A brief summary does not do it justice, but two aspects are worth noting. First, immigration policy can be shaped to not only be self-sustaining, but to grow the economy and increase tax revenues. Second, the 35 percent corporate tax rate yields an average of only 23 percent because of tax incentives that are not used by all. We could have a lower corporate tax rate if it was applied evenly to all. This would have several beneficial economic effects--including returning jobs to America from abroad.
The next section book compares our current situation to what we experienced in the nation's past. Like many concerned about income inequity (see Paul Krugman's The Conscience of a Liberal), Clinton reveres the post-WWII era as a time of equity and shared prosperity. "After World War II until 1980, the bottom 90 percent of Americans consistently earned about 65 percent of the national income, and the top 10 percent earned about 35 percent, of which 10 percent went to the top 1 percent... In the 1980s, Wall Street and many large corporations embraced what was then a new idea--that publicly traded companies' first and overwhelming obligation is to their shareholders... This approach has continued to increase the percentage of GDP claimed by the financial sector and to concentrate income gains among already wealthy Americans. It has helped a considerable number of people become millionaires and billionaires, but it has led to stagnant wages for almost everyone else." (p. 85-89)
The author then analyzes economic policies in industrialized nations, concluding that low levels of taxation and regulation do not necessarily result in prosperity and growth. "The success of the nations doing better than we are is due to government policies that equalize opportunities and prepare their people to seize them." (p. 107) Like Mitt Romney in Believe in America, Clinton presents forty-six recommendations to help "put a lot of people to work now." Here are five that interested me:
2. Let people with government-guaranteed mortgages who aren't delinquent refinance their mortgages at the current low interest rate.
5. Let companies repatriate [offshore] cash now with no tax liability if it's reinvested to create new jobs.
26. Negotiate long-term contracts to sell food to China, Saudi Arabia, and other nations facing food shortages.
36. Provide an extra incentive to hire people who've been out of work more than six months.
41. Keep pushing for comprehensive immigration reform, and in the meantime grant more H-1B visas to immigrants in science, technology, engineering, and mathematics fields until we have enough qualified citizens to fill the openings.
This is an intelligent book. Clinton does not angrily reject ideas that benefit both the wealthy and the not-so-wealthy. He does not stir readers' envy of other's wealth to justify taking it away. In fact, he recognizes businesses that have succeeded through innovation and hard work. Occasionally nonpartisan, he disagrees with President Obama and praises programs and policies of political rivals.
I have one concern and one question. Clinton's characterization of the right is too conveniently narrow. There are some on the right who understand little about the economy. But there are also those on the left who have little knowledge of how their favorite programs are funded. It disingenuously pits apples against kumquats to advance such well-crafted arguments from the left and use the least sophisticated elements of the right as their foil. I'd like to measure Bill Clinton's apples against some life-sized oranges.
My question is about Clinton's role for the nongovernment, nonprofit sector. One response to his proposals is that the Federal government should not drive so many of them. A smaller government version might achieve more bipartisan support. He mentions several nonprofit initiatives he has undertaken, so clearly he envisions some appropriate nonprofit role. Perhaps I should read Clinton's Giving: How Each of Us Can Change the World next to answer my question. Perhaps I will.














