376. The End of Work
Rating: ☆☆☆1/2
Recommended by:
Author: John Tamny
Genre: Nonfiction, Business
256 pages, published May 7, 2018
Reading Format: Book
Summary
The End of Work, by free market economist John Tamny, is a very optimistic treatise on the future of work in the United States and around the world. Tamny rejects the doomsday predictions that automization and globalization will take away your dream job. Instead, he contends that the job market is only going to get better and better as a result of rapidly increasing prosperity which will free human beings to perform work that is fun, meaningful and personal.
Quotes
“Capitalism cannot cause a financial crisis because capitalism is about markets constantly correcting errors. It is government intervention that can and often does cause crises,”
“An economy robbed of failure is also robbed of success, because failure provides knowledge about how to succeed. Failure is the healthy process whereby a poorly run entity is deprived of the ability to do more economic harm.”
“Failure is merely a harsh word for the experiences that animate the constant drive for self-improvement.”
“Taxes are the price we charge people to work, and that price affects where they work and whether they work at all.”
“The same is true for taxes. Politicians may raise the cost of work for their citizens, but if the cost is too high, those citizens won’t stick around to be fleeced, especially if they’re well to do. Like the car shoppers, they’ll go elsewhere.”
“Most people do not begin life on top. Politicians who raise income tax rates on top earners in the name of “fairness” are telling the strivers lower down that they will incur a penalty for succeeding.”
“Income inequality in a capitalist system is truly beautiful. It provides the incentive for creative people to gamble on new ideas, and it turns luxuries into common goods. Income inequality nurses sick companies back to health. It rewards hard work, talent, and achievement regardless of pedigree. And it’s a signal that some of the world’s worst problems will disappear in our lifetimes.”
My Take
The End of Work is a great book to read if you are a young person trying to figure out what you want to do with your life. Indeed, after I finished reading it, I ordered a copy and sent it to my 21 year old son Nick who has recently graduated from college and, while working at a great job, is not passionate about his work. Tamny’s advice is to go for your passion and you will be rewarded with an interesting and fulfilling career.
