Tuesday, March 13, 2007

Capitalism Goes on Trial, Warren Buffett Eats: New Nonfiction

By Edward Nawotka

March 13 (Bloomberg) -- After 9/11, readers turned to Benjamin R. Barber's 1995 ``Jihad vs. McWorld'' for a better understanding of the world in which they suddenly found themselves. Barber posited a society divided between faith-based tribalists and economic globalists -- opposing forces that both threatened democratic ideals.

Barber's new book, ``Consumed: How Markets Corrupt Children, Infantilize Adults and Swallow Citizens Whole'' (Norton, $26.95), offers a scathing critique of late capitalism, blaming run-amok consumerism for the decline of society.

Megacorporations are as much in the business of manufacturing ``needs,'' Barber argues, as of products or services for a population of emotionally stunted consumers.

Why do we buy a raft of inferior and superfluous products? Because these companies have turned us into ``kidults, rejuveniles, twixters, adultescents'' conditioned since birth to buy ``stupid'' brands. The result is a ``civic schizophrenia'' that leaves us vulnerable to megachurches but too disengaged to vote.

``Consumed'' is more vitriolic than admirers of ``Jihad vs. McWorld'' might expect. Some may object to Barber's angry insistence that we, as consumers, have no free will. Although it's great at provoking us to think about our complicity in the phenomenon he describes, a reader may not feel like the total tool of corporate commerce Barber claims we all are.

``Deep Economy: The Wealth of Communities and the Durable Future'' by Bill McKibben (Times, $25). In a vein similar to Barber's, McKibben offers a clear-eyed reassessment of the meaning of growth, arguing that it's no longer making the world wealthier but instead is ``generating inequality and insecurity'' and ``bumping against physical limits, like climate change and peak oil, so profound that continuing to expand may be impossible or even dangerous.''

``A Weekend With Warren Buffett and Other Shareholder Meeting Adventures'' by Randy Cepuch (Thunder's Mouth, $23.95). Starting with a six-hour marathon Q&A with Buffett in Omaha, Cepuch offers a travelogue of 24 meetings (and free lunches) throughout the U.S., the U.K. and Australia, for such companies as Citigroup, DuPont, eBay, Google, Microsoft, Playboy, Starbucks, Wal-Mart and Walt Disney.

``Jackpot Nation: Rambling and Gambling Across Our Landscape of Luck'' by Richard Hoffer (HarperCollins, $24.95). A Sports Illustrated reporter visits casinos, underground power games and more in a trip through the U.S.'s gaming culture, whose burgeoning condition, he says, is symptomatic of our predilection for get-rich-quick schemes and costs us some $80 billion a year.

``How Countries Compete: Strategy, Structure, and Government in the Global Economy'' by Richard H.K. Vietor (Harvard Business School, $35). A B-school prof examines growth in countries including China, India, Japan, the U.S., Mexico, Russia, Saudi Arabia and South Africa and challenges the notion that government oversight hinders economic development.

``The Grid: A Journey Through the Heart of Our Electrified World'' by Phillip F. Schewe (J. Henry Press, $27.95). The electrical grid is one of the world's great engineering and industrial feats, but one short circuit could leave cities dark for days. Schewe offers an informative look at the grid's history and its increasing vulnerability.

``The Cigarette Century: The Rise, Fall and Deadly Persistence of the Product That Defined America'' by Allan M. Brandt (Basic, $36). A medical historian examines the role of the tobacco industry in American life, from its contributions to the development of advertising to its role in so many legal and health debates.

``Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders'' by James D. Scurlock (Scribner, $24). The credit industry (Visa, MasterCard et al.) is the villain in this frightening if one-sided expose of ``debt hell.''

``Poor People'' by William T. Vollmann (Ecco, $29.95). The prizewinning novelist and crusading (and sometimes gonzo) journalist traverses the world to ask a cross section of the downtrodden, ``Why are you poor?'' and records their honest and unsettling answers.

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