Skip to main content

The Two Income Trap by Elizabeth Warren

What is wrong with the following statement?

"But the two-income family didn't just lose its safety net. By sending both adults into the labor force, these families actually increased the chances that they would need that safety net. In fact, they doubled the risk. With two adults in the workforce, the dual-income family has double the odds that someone could get laid off, downsized, or other wise left without a paycheck. Mom or Dad could suddenly lose a job."

You've just read the fundamental thesis of The Two-Income Trap. If you agree with it--although I truly hope you're a better critical thinker than that--you'll have your views reinforced. Thus reading this book would be an unadulterated waste of your time.

If on the other hand you are capable of critical thinking and you can successfully see through hilariously unrigorous "logic" of the above statement, then this book will still be a waste of your time (unless you like reading books for the sheer pleasure of laughing at their lack of rigor).

Either way, you'll have to wade through 162 pages of hand-wringing and one-sided statistics to get to any actual solutions--and those solutions should have been written on a 3x5 card that says:

1) Don't incur high fixed costs--manage your big-ticket spending items like housing and cars so they don't crush you down the road.
2) Don't compete with your neighbors.
3) Save money.

Better still, watch this Saturday Night Live skit instead. There. I just saved you four precious hours of your life.

More Posts

A Technique for Producing Ideas by James Webb Young

It's a rare pleasure to find so many insights in such a short book. A modern reader can't help but notice the stark contrast between A Technique for Producing Ideas  and most modern books, which might have a few paragraphs' worth of insights, but yet always seem to be fluffed and padded out to at least 200-300 pages. The author gives away a formula for creativity and idea generation that is simple, but not easy. And as a result almost no one will follow it. In the author's own one-paragraph summary, his process is: * First, the gathering of raw materials--both the materials of your immediate problem and the materials which come from a constant enrichment of your store of general knowledge.  * Second, the working over of these materials in your mind.  * Third, the incubating stage, where you let something beside the conscious mind do the work of synthesis.  * Fourth, the actual birth of the Idea--the 'Eureka! I have it!' stage. * And fifth, the final shaping and ...

The Genesis of Russophobia in Great Britain by John H. Gleason

In-depth (and surprisingly interesting!) analysis of the shifting public and government opinion on Russia during late 18th and early/mid 19th century England, plus a useful (and telling) exploration of the various propaganda and media narratives used to drive these opinions. I've written before on this site, many times, that history rhymes, it doesn't repeat exactly, so you have to know your history--and by this I mean know your actual history, not your country's preferred propaganda narrative of history--in order to see that rhyme to make useful, accurate predictions. It is fascinating to see England in the 1800s applying various forms of the same propagandized and manufactured Russophobia that we see in the United States today. England went from a literal  alliance with Russia (against Napoleonic France) to a state of paranoid loathing of Russia in a matter of decades; the USA likewise went from " aren't they our friends now? " after the Soviet collapse to...

The Design of Everyday Things by Don Norman

This looks like a book about foundational concepts of good design, but in reality it's a deep and intelligent book addressing a tremendous range of topics: psychology, cognition, on minding details, on being "meta" about rules and procedures, even how to navigate the modern world. One of the most valuable and interesting books I've read all year. Pair with  The Upper Half of the Motorcycle by Bernt Spiegel.  Notes:  [Warning: Long] 0) Norman's Law : the day the product team is announced, it is behind schedule and over its budget. Ch 1: The Psychopathology of Everyday Things 1) "Norman doors" confusing doors, or doors that don't work right. "The design of the door should indicate how to work it without any need for signs, certainly without any need for trial and error." 2) "Two of the most important characteristics of redesign are discoverability and understanding. * Discoverability : Is it possible to even figure out what actions are...