Today’s Brew 10-13-14

Ralph Benko this morning at Forbes.com

Peter Thiel: “We Don’t Live In A Normal World; We Live Under A Power Law.”

In 1967, Peter Drucker published The Effective Executive, a book that proved fundamental in revolutionizing the practice of management.

In 1998, Jude Wanniski published The Way The World Works, the fundamental popular text of supply side economics. This book shared with the policy world the Secret Formula for ending stagflation — lower tax rates and high integrity monetary policy — thereby propelling the Dow from 1,000 to 17,000 and raising the world’s GDP from $11 trillion a year to >$60 trillion a year (neither figure adjusted for inflation, but take the point). Big stuff.

With Zero to One Thiel joins the ranks of those shaping our political, commercial, technological and economic thinking and future. Zero to One, part personal reflections, part conversational magnum opus, is a perfect joy to read.

– – – – –

Thiel is contrarian (to the point of taking a contrarian position on contrarianism) yet never perverse. In full context Thiel presents as Kennedyesque. President Kennedy famously observed, during a press conference on March 21, 1962, when challenged about the resentment of some Army Reservists being called to serve as advisors in Vietnam, “Life is unfair.”

“…there is always inequity in life. Some men are killed in a war and some men are wounded, and some men never leave the country, and some men are stationed in the Antarctic and some are stationed in San Francisco. It’s very hard in the military or personal life to assure complete equality. Life is unfair.”

Kennedy’s observation fully is consistent with his August 17, 1962 Remarks in Pueblo, Colorado following Approval of the Frying Pan-Arkansas Project: “Rising tide lifts all boats.”

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