Running On Empty Summary

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Running on Empty In his book, Running on Empty, Peterson recognizes that the hope for modifying the political incentives normally hinges on the changing and the selfish attitudes of voters who have self-interest on political process, hence engendering in vitriolic partnership (Peterson pg. 218). His proposal for the reformation of the budget processes, on the other hand, seems to be myopic, since the pork-barrel politics are disgraceful despite the fact that the reform for the budget processes was proved to be impossible. Peterson has placed a great weight concerning the present generation that is supposed by various obligations to posterity; he says that he is worried whether the social promises of today are binding on the future generation, and if it would be possible to…show more content…
However, I appreciated the book’s objective as well as, a political statement regarding some realities that seemed stark and may threaten, or undermine, the economics of wellbeing, national security, as well as, the society unless they are addressed in a more effective manner. In his book, Peterson mentions Margaret Thatcher who says that it may be easy for the politicians to opt for the current gratification while they make other people pay the price for the future. However, that does not really change the reality that there is a price, since the price has a potential of being truly terrible. I do agree that the prospects of twin deficits, as mentioned by Peterson, have had some effect on the confidence, easiness, as well as on consumer and business behavior; although the effects have not yet been felt on the interest rates. The main reason for this is that the private demand for the investment capital is very weak. I disagree with the notion that the future market psychology will change to reflect the reality, as it always does, and if this happens, then the effects that Peterson describes in his book will possibly
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