Kerry Power's "Economic Revolution: a 12 Step Program for Building a Better World and Making Big Profits at the Same Time" provides an inspirational treatise for ending the financial troubles that have become extremely prevalent American's lives.
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Kerry Power's "Economic Revolution: a 12 Step Program for Building a Better World and Making Big Profits at the Same Time" provides an inspirational treatise for ending the financial troubles that have become extremely prevalent American's lives. While on the surface it appears to be a typical financial self-help book, the book addresses some much broader concepts and digs much deeper into the underlying problems that have brought about so much economic distress in the past few years.
Like many books on post-recession economics, Power discusses in great detail how we arri ved at our current financial mess, and within his 12 steps, the reasons become even more clear. But he also includes advice like "Resisting Economic Centralization" and "Supporting your Community" to provide us with the means to to promote prosperity in our communities, and avoid future recessions like the one we are currently experiencing. In this way, the steps of this book shift between actions we can take on an individual level, and collective actions that can completely revolutionize our economic system.
Ultimately, Power is suggesting that people need to stop waiting for some economic miracle to occur, and come together and act collectively in order to turn market forces in their favor. It is in this book that he has literally provided the instructions for such action. He discusses a movement he calls "Venture Activism," where individuals unite to promote quality, provide for sustainable technologies for the future, and dismiss the old American habits of buy ing cheap goods and services. He describes compelling scenarios of a better future in great detail, full of greener energy sources and localized industry. He also suggests that Venture Activists will likely be at the forefront of these future societal improvements, and will likely experience great profits from facilitating this better future for all Americans.
Even simple, common sense topics such as "Abstaining from Debt Addiction" and "Owning Your Life" are explained in great detail, including the reasons why these extremely practical concepts have become uncommon habits for the typical modern-day American. Power even goes as far as to demonstrate how much of a borrower's wealth gets transferred to the lender when an individual overuses credit, and it is absolutely shocking to see how much money we lose by living our lives this way. While this has surely been heard before, Power approaches the topic of "Debt Addiction" from a much wider perspective, by describing how the overall effects of a debt addicted society harm even those who choose not to live their lives on credit. When our hard earned tax dollars go to interest payments rather than productive projects, and our jobs disappear as businesses go under from producing more debt than profit, then we find that we are not separated from this pervasive societal dysfunction, even if we do not participate in this practice in our personal lives.
Power also discusses how we need to take responsibility for changing the political arena into one that is not so economically devastating. Our current government debt of nearly $93,000 per taxpayer is no way to encourage a citizenry of debt-free, profit producing individuals. This is an example of what is most refreshing about this book. Power discusses economics as a personal, cultural, political, and historical phenomenon. He points out that society is always changing. Whether it technological or cultural, the world we live in is constantly evolving to provide for our current wants and needs. We can either stick to the ways of the past, or look to the future as bright and full of opportunities and ways to improve our lives. Power demonstrates that if we look into the recent past, we can see how people have had enormous success by adapting and "Anticipating a Better World." He shows us that we can improve our world and reap the benefits by holding a little bit of optimism and foresight.
There is a lot of information in this book, and Power does a very good job of simplifying the sometimes complex subject of economics for the average person to understand. He provides an excellent definition of exactly what money is, and provides a brief history of the American banking system and inflation. While it is a lot to take in, everyone could benefit from reading this book and taking Power's advice.
Perhaps my biggest concern about Power's book is that not enough people will read it. This really is something every American should read, for if we all followed Power's simple steps, we could see an expedited economic recovery and a very bright near future. But don't bother to read this book if you are unwilling to envision a future that changes drastically from our current economic culture. While what Power suggests is extremely practical, it is appropriately identified as a "revolution."
Taylor Ripp -- International Honor Society of Economics
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