Welcome to PS Book Recommendations, your weekly source of reading inspiration, provided by PS contributors. This week’s edition features William H. Janeway, a distinguished affiliated professor in economics at the University of Cambridge, and Kishore Mahbubani, a distinguished fellow at the Asia Research Institute at the National University of Singapore.
Given the need to reward those who risk time and money on unproven ventures and ideas, there is often a tension between encouraging innovation and preventing monopolization in capitalist economies. The question is how to strike a proper balance in the face of immensely powerful technological and market dynamics. Read the Longer Read.
Andrews says: Kurz "brings the same rigor [demonstrated in his past work] to bear on the question of what shapes income growth and the distribution of wealth in an economy driven by privately owned technological innovations."
Mahbubani says: "Most Americans still misunderstand China. But in 2012, one of America’s greatest statesmen, Henry Kissinger, wrote this brilliant book explaining the vast differences between Chinese and Western worldviews. One key difference is captured by a simple analogy: whereas the West plays chess, which aims for total victory, the Chinese play weiqi, focused on protracted campaigns and strategic encirclement. Kissinger also corrects the common misconception among Americans that Chinese culture is inherently militaristic. In fact, China hasn’t fought a major war in 45 years, reflecting Sun Tzu’s wisdom that 'Ultimate excellence lies not in winning every battle but in defeating the enemy without ever fighting.' The US, by contrast, has become embroiled in several wars, even after the Cold War ended. The world would be a safer place if Western leaders learned how to deal with different civilizations, like those of China and India. They should start by reading – or re-reading – this book."
"It is perfectly natural for rising powers to become more assertive as they gain influence. China is no exception."
Don’t miss our PS Say More interview with Mahbubani on the US-China rivalry, Asian security risks, and more. Read now.
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On China
