Audiobook4 hours
Comeback: America's New Economic Boom
Written by Charles Morris
Narrated by Tim Andres Pabon
Rating: 4.5 out of 5 stars
4.5/5
()
About this audiobook
Charles R. Morris's The Trillion Dollar Meltdown (2008) was the first book to warn of the impending financial crash in all its horrific scale and speed. Now, with Comeback, Morris reveals that the United States is on the brink of a strong recovery that could last for twenty years or more.
The great economic boom times in American history have come because of fortuitous discoveries. Natural resources (coal first, then oil) fueled vast economic and industrial expansions, which in turn helped create and supply new markets. The last genuine economic game changer was the technology boom of the 1990s, which gave the U.S. a global competitive advantage for a while based on electronics and silicon. One of the first writers and analysts in the U.S. to predict that the tech boom would lead to a period of sustained economic growth was Charles Morris. In defiance of the recessionary times (in 1990), he saw the coming boom. Now, in 2013, he sees the threshold of another.
This time the gift is natural gas. The amount and distribution of gas in American shale is so vast that it has the potential to transform the manufacturing economy, creating jobs across the country, and requiring a new infrastructure that will benefit the nation as a whole. Because of fracking, jobs that once would have been outsourced abroad will return home, America can become a net exporter of energy, and cheap energy will provide the opportunity for innovation and competition.
In light of this new opportunity, and other complementary developments Morris explores in this book, the U.S. ought to be approaching the future with a robust self-confidence it has not experienced in a while. But we could fumble it away. The gold-rush style of shale boom companies does not make them good neighbors. A counter-reaction could put their industry, and the new era of national prosperity, at risk. We also have a political system that has the capacity to spoil the benefits of this huge boon. If the wealth locked in the continental shelf is not shared for the general economic good, but is instead exploited in short-term profiteering, then many of the opportunities that exist will be choked off by a few very rich corporations.
Managing the great bonus of the vast store of cheap energy is going to become a defining political challenge in the years ahead. At the threshold of a thrilling opportunity, Morris is a brilliantly perceptive guide.
The great economic boom times in American history have come because of fortuitous discoveries. Natural resources (coal first, then oil) fueled vast economic and industrial expansions, which in turn helped create and supply new markets. The last genuine economic game changer was the technology boom of the 1990s, which gave the U.S. a global competitive advantage for a while based on electronics and silicon. One of the first writers and analysts in the U.S. to predict that the tech boom would lead to a period of sustained economic growth was Charles Morris. In defiance of the recessionary times (in 1990), he saw the coming boom. Now, in 2013, he sees the threshold of another.
This time the gift is natural gas. The amount and distribution of gas in American shale is so vast that it has the potential to transform the manufacturing economy, creating jobs across the country, and requiring a new infrastructure that will benefit the nation as a whole. Because of fracking, jobs that once would have been outsourced abroad will return home, America can become a net exporter of energy, and cheap energy will provide the opportunity for innovation and competition.
In light of this new opportunity, and other complementary developments Morris explores in this book, the U.S. ought to be approaching the future with a robust self-confidence it has not experienced in a while. But we could fumble it away. The gold-rush style of shale boom companies does not make them good neighbors. A counter-reaction could put their industry, and the new era of national prosperity, at risk. We also have a political system that has the capacity to spoil the benefits of this huge boon. If the wealth locked in the continental shelf is not shared for the general economic good, but is instead exploited in short-term profiteering, then many of the opportunities that exist will be choked off by a few very rich corporations.
Managing the great bonus of the vast store of cheap energy is going to become a defining political challenge in the years ahead. At the threshold of a thrilling opportunity, Morris is a brilliantly perceptive guide.
More audiobooks from Charles Morris
The Sages: Warren Buffett, George Soros, Paul Volcker, and the Maelstrom of Markets Rating: 4 out of 5 stars4/5Saving A Life: How We Found Courage When Death Rescued Our Son Rating: 3 out of 5 stars3/5Historical Tales, Vol III: Spanish American Rating: 0 out of 5 stars0 ratingsThe Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash Rating: 4 out of 5 stars4/5Historical Tales, Vol V: German Rating: 0 out of 5 stars0 ratingsHistorical Tales, Vol VI: French Rating: 0 out of 5 stars0 ratingsHistorical Tales, Vol. II: American II Rating: 0 out of 5 stars0 ratings
Related to Comeback
Related audiobooks
Make It in America: The Case for Re-Inventing the Economy Rating: 3 out of 5 stars3/5Fiscal Hangover: How to Profit From the New Global Economy Rating: 4 out of 5 stars4/5An Extraordinary Time: The End of the Postwar Boom and the Return of the Ordinary Economy Rating: 4 out of 5 stars4/5Cold, Hungry and In the Dark: Exploding the Natural Gas Myth Rating: 4 out of 5 stars4/5The Asylum: The Renegades Who Hijacked the World's Oil Market Rating: 4 out of 5 stars4/5The Shadow Market: How a Group of Wealthy Nations and Powerful Investors Secretly Dominate the World Rating: 4 out of 5 stars4/5Winner-Take-All Politics: How Washington Made the Rich Richer--and Turned Its Back on the Middle Class Rating: 4 out of 5 stars4/5The Demographic Cliff: How to Survive and Prosper During the Great Deflation of 2014-2019 Rating: 5 out of 5 stars5/5Going Big: FDR's Legacy, Biden's New Deal, and the Struggle to Save Democracy Rating: 5 out of 5 stars5/5The New Financial Deal: Understanding the Dodd-Frank Act and Its (Unintended) Consequences Rating: 3 out of 5 stars3/5Boom and Bust: A Global History of Financial Bubbles Rating: 5 out of 5 stars5/5Unleashing the Second American Century: Four Forces for Economic Dominance Rating: 5 out of 5 stars5/5The Next Great Bubble Boom Rating: 2 out of 5 stars2/5Fifty Years in Wall Street Rating: 2 out of 5 stars2/5The Dawn of Innovation: The First American Industrial Revolution Rating: 4 out of 5 stars4/5The New Elite: Inside the Minds of the Truly Wealthy Rating: 4 out of 5 stars4/5Re-Made in the USA: How We Can Restore Jobs, Retool Manufacturing, and Compete With the World Rating: 0 out of 5 stars0 ratingsCapitalism Without Capital: The Rise of the Intangible Economy Rating: 4 out of 5 stars4/5No Ordinary Disruption: The Four Global Forces Breaking All the Trends Rating: 4 out of 5 stars4/5The Fortune Tellers: Inside Wall Street's Game of Money, Media, and Manipulation Rating: 4 out of 5 stars4/5Fatal Risk: A Cautionary Tale of AIG's Corporate Suicide Rating: 3 out of 5 stars3/5Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy Rating: 4 out of 5 stars4/5In Too Deep: BP and the Drilling Race That Took it Down Rating: 5 out of 5 stars5/5Other People's Money Rating: 2 out of 5 stars2/5All the Presidents' Bankers: The Hidden Alliances That Drive American Power Rating: 5 out of 5 stars5/5Money: Who Has How Much and Why: Who Has How Much and Why Rating: 4 out of 5 stars4/5The Evolution a Corporate Idealist: Girl Meets Oil Rating: 4 out of 5 stars4/5A Capitalist's Lament: How Wall Street Is Fleecing You and Ruining America Rating: 5 out of 5 stars5/5The Big Con: The True Story of How Washington Got Hoodwinked and Hijacked by Crackpot Economics Rating: 5 out of 5 stars5/5
Economics For You
San Fransicko: Why Progressives Ruin Cities Rating: 4 out of 5 stars4/5Killing Sacred Cows: Overcoming the Financial Myths that are Destroying Your Prosperity Rating: 5 out of 5 stars5/5Freakonomics Rev Ed Rating: 4 out of 5 stars4/5The Intelligent Investor Rating: 4 out of 5 stars4/5Principles for Dealing with the Changing World Order: Why Nations Succeed or Fail Rating: 5 out of 5 stars5/5Chip War: The Quest to Dominate the World's Most Critical Technology Rating: 5 out of 5 stars5/5Think Like a Freak: The Authors of Freakonomics Offer to Retrain Your Brain Rating: 4 out of 5 stars4/5This Changes Everything: Capitalism vs. The Climate Rating: 4 out of 5 stars4/5Why the Rich Are Getting Richer Rating: 5 out of 5 stars5/5Nomadland: Surviving America in the Twenty-First Century Rating: 4 out of 5 stars4/5The Meth Lunches: Food and Longing in an American City Rating: 5 out of 5 stars5/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5Don't Trust Your Gut: Using Data to Get What You Really Want in Life Rating: 4 out of 5 stars4/5How the World Works Rating: 4 out of 5 stars4/5These are the Plunderers: How Private Equity Runs—and Wrecks—America Rating: 5 out of 5 stars5/5Economics 101: How the World Works Rating: 5 out of 5 stars5/5The War Below: Lithium, Copper, and the Global Battle to Power Our Lives Rating: 5 out of 5 stars5/5The Ascent of Money: A Financial History of the World Rating: 4 out of 5 stars4/5Nudge: The Final Edition: Improving Decisions About Money, Health, And The Environment Rating: 4 out of 5 stars4/5The Color of Money: Black Banks and the Racial Wealth Gap Rating: 5 out of 5 stars5/5The Genius of Israel: The Surprising Resilience of a Divided Nation in a Turbulent World Rating: 4 out of 5 stars4/5The Lexus and the Olive Tree: Understanding Globalization Rating: 4 out of 5 stars4/5The Myth of Capitalism: Monopolies and the Death of Competition Rating: 4 out of 5 stars4/5The Sovereign Individual: Mastering the Transition to the Information Age Rating: 5 out of 5 stars5/5The Lords of Easy Money: How the Federal Reserve Broke the American Economy Rating: 4 out of 5 stars4/5Marvel Comics: The Untold Story Rating: 4 out of 5 stars4/5Nothing Is True and Everything Is Possible: The Surreal Heart of the New Russia Rating: 4 out of 5 stars4/5What We Owe Each Other: A New Social Contract for a Better Society Rating: 4 out of 5 stars4/5Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty Rating: 4 out of 5 stars4/5
Reviews for Comeback
Rating: 4.4 out of 5 stars
4.5/5
5 ratings1 review
- Rating: 4 out of 5 stars4/5The book is good. It shows some great new perspectives for America economy in the coming years. I liked It.