COMMENTS
I haven't read the book, but I do read his columns, and I've read some of his other books. I am sure Friedman would take some umbrage at the fear uncertain and doubt comment. Yes, he does like to sound the alarm, but he definitely sees himself as a problem solver, not just a problem spotter.
Isn't there a chapter somewhere -- or sprinkled throughout -- in which he points to some of the intrinsic characteristics of American culture and business and economy? For example, the U.S. has an unparalleled venture capital engine. It also has a strong 'cult of the individual,' in which self-made men (and women) setting up business and hanging out a shingle is a time-honored vocation and avocation. Small businesses are often granted some sort of most-favored-nation status when it comes to regulatory and tax treatment (though I am sure almost all your small business readers will howl in disagreement). Fairly liberal bankruptcy laws take a lot of the risk out of setting up shop -- you won't necessarily lose the house and your life savings if the business goes south.
I think somewhere Friedman also points out that at the primary and secondary school level, the U.S. always seems to fall behind global competitors; but that at the graduate level, the U.S. is still the envy of much of the world. This is attributed to the value placed on creativity and ingenuity -- facilities less useful when studying for standardized tests, but irreplaceable when it comes to innovation.
I think Friedman would agree that creative and energetic entrepreneurs will continue to fare well in a flat world economy. In fact, I think his point is that the non-entrepreneurial class (and those not highly educated or with specialty skills) will find it increasingly difficult to find rewarding -- or any -- employment. At least, employment here in the U.S.
If I have helped you avoid an otherwise awkward encounter with Friedman in the future, you are welcome.
Andrew
Thanks Andrew.
Yes, I think Friedman makes many of the classic arguements on behalf of why our economy will continue to evolve/innovate/thrive.
I had lunch with a friend of mine on thursday who is an EIR at MIT's Entreprenuership Center. He is doing some consulting in Middle Eastern countries on entrepreneurship. I commented how I thought that must be a tough sell becuase the "incentives" in most countries do not encourage people to start businesses. In the US, we have an aggressive/profitable vc industry, we have aggressive bankrupcy laws that protect a founder if his company goes bankrupt, we have universities that churn our cutting edge research, we have government institutions (i.e. Darpa, small business loans) that encourage innovation, etc.
I don't think Friedman is putting "FUD" (fear, uncertainty, & doubt) into the US economic system; rather, he is putting FUD into the minds of the individual white collar workers minds about his occupation.
Brian.
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