By

Publisher: Free Press
ISBN: 0684832720    
Release Date: 1999-08-26

List Price: USD 15.00     Paperback

Buy it from:   amazon.com (from US$ 9.22)

Two renowned investment advisors and authors of the bestseller The Great Reckoning bring to light both currents of disaster and the potential for prosperity and renewal in the face of radical changes in human history as we move into the next century. The Sovereign Individual details strategies necessary for adapting financially to the next phase of Western civilization.

Few observers of the late twentieth century have their fingers so presciently on the pulse of the global political and economic realignment ushering in the new millennium as do James Dale Davidson and Lord William Rees-Mogg. Their bold prediction of disaster on Wall Street in Blood in the Streets was borne out by Black Tuesday. In their ensuing bestsellar, The Great Reckoning, published just weeks before the coup attempt against Gorbachev, they analyzed the pending collapse of the Soviet Union and foretold the civil war in Yugoslavia and other events that have proved to be among the most searing developments of the past few years.

In The Sovereign Individual, Davidson and Rees-Mogg explore the greatest economic and political transition in centuries -- the shift from an industrial to an information-based society. This transition, which they have termed "the fourth stage of human society," will liberate individuals as never before, irrevocably altering the power of government. This outstanding book will replace false hopes and fictions with new understanding and clarified values.

Looked forward with anticipation	from Phil

2 out of 2 found this helpful:

Making Economics Interesting

Phil(Shanghai)   

Already pretty dated, first published in 1997, the Sovereign Individuals somehow suceeds in still being more relevant and insightful than a whole host of more recent books talking looking at globalization and how it is shaking up the way the world works.

The basic premise of the book is that the convergence of a number of factors: the fall of the Berlin Wall and end Communism (as a balancing power block in opposition to free market capitalism, at least...), increased ease of international travel and communication and most critically, the emergence of the internet, have completely redefined the relationship between individuals and governments. The outcome predicted is the death of the nation state as we know it. Having read the book it all makes sense, and I will not be surprise to see some of the more extreme predicitions they make come true in my lifetime.

Think of it in these terms. In developed nations the extremely rich carry an enormously dispraportionate share of the nations tax burden. They not only pay more in straight figures, they pay a greater share of their income, in return for which they take less back from the state than those poorer than them (private healthcare, private education for their kids etc). In the past this bizarre system (punishing success?) made sense because there was no where else to go. If you wanted to have access to the world's big markets you needed to live in one of them, and half the world was stuck giving people no freedom whatsoever.

Now the internet and increased freedom of movement between nations mean that this is no longer the case. Those who get annoyed paying lots of tax can up and leave and move to somewhere like Switzerland, pay US$40,000 odd to buy themselves a tax treaty, and never pay a cent of tax again....

This is driving large welfare state nations, and others who abuse their citizens economic rights (like America - almost no other country taxes its no resident citizens...) bankcrupt, as all the dynamic high earners leave, and will eventually force them to start treating citizens as customers, not assets.

As a bit of a closet lefty, I'm not sure if I like all this, but as a trend I recognize that all the signs are there that this process is already well underway, and there's actually very little that governments can do.

Well worth a read.

2006-04-17 06:59   |    comment   

Write a review

Great      1
Good      
OK      
Bad      
Terrible      

Phil (Shanghai)

1 person has read it