The New Basis of Civilization (The John Harvard Library) (edit title)

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  “A prominent economist in his day, Patten explained the historic shift from an economy of pain and deficit to one of surplus and pleasure. He believed Industrialization was ushering in a new era of abundance--a new basis of civilization. He writes: "We encourage self-denial when we should encourage self-expression," and "We try to suppress vices when we should release virtues." I especially liked this observation: "There are few who deny the evidence of growing prosperity. Prosperity is a fact: and so is poverty. Both are too evident to be contested." But it seems that most people are more interested in poverty and wealth. As he writes later on: "Good times have been so often overthrown by calamity that men scarcely trust their senses when evidences of prosperity confront them."
  
  But perhaps the most interesting nugget in this book is when he writes about the changes taking place in the attitude of employees. With all the talk of Generation X and Y and how different they are from Baby Boomers and Traditionalists, less loyal, more prone to leave for the next best offer, etc., listen to Patten on employees in this era of abundance.
  
  "They get restless after a little while in one place," said an employer. "For the last few years I haven't counted on keeping the ordinary fellows more than six months. I just let them go and take the next one who is always dropping in."
  
  "Madam, I assure you I could just cross the street tomorrow and be paid as much as you give me." Selfish, satisfied, and capricious, these young people newly emancipated into economic freedom are seldom idle; they work, but they are marking time on the spot they have reached, for they do not perceive any options desirable enough to lead them beyond those they are now enjoying....High wages won't improve them; presents don't tempt them; blame doesn't mortify them, and praise doesn't attach them."
  
  It seems the more things change, the more they stay the same--or, history doesn't repeat itself, but it does rhyme, according to Mark Twain. It's also proof positive of Milton Friedman's contention that the best protector of workers is not unions or laws, but a healthy competitive environment where workers can find a new employer. If these changes were evident back in 1907, imagine how far they have progressed 100 hundred years hence, when we are awash in more prosperity than ever. This book is an excellent antidote to Thorstein Veblen's "The Theory of the Leisure Class."
  
  Patten's legacy lives on in an institution he did much to build: the Wharton School of the University of Pennsylvania, the nation's first business school. ”

  Ron B wrote this review Monday, March 9 2009. ( reply | permalink ) Was this review helpful? Yes | No