Monday, December 7, 2020

The Great Rupture by Viktor Shvets

This book’s full title is The Great Rupture: Three Empires, Four Turning Points, and the Future of Humanity. Do we need to be Free? He has a web site here that you can explore. You can explore the major themes of the book. If you find this interesting, you might want to get the book to read.

The site Book Authority list this book as one of the 16 Best New Economic Development Books To Read In 2021. The site The Capital Spectator features this book and other economic books.

This book is rather depressing in the end as he thinks that we do not need to be free. The West will end up like China. 1984 here we come. We here in Canada, the US and EU all seem to be going left and socialist. However, Margaret Thatcher was right. Socialism only last as long as there is other people’s money to spend. Politian’s are all talking about taxing the rich to pay for all our desires. This will end badly.

Only the Nordic counties have a form of socialism that works. But everyone pays a large part of their earnings. The Nordics are also quite capitalistic. They have little in the way of corruption. On the other hand, Canada, US, and EU are filled with extractive elites. We also have huge tech companies that are sucking every last bit of data they can from us to monetize.

He thinks that AI will make it possible to control markets better than a free market system or capitalism. I worked with computers my whole adult life and any AI so far is just algorithms. Any AI will take process to a logical conclusion. AI will never think that just because they can do something should they? AI with Algorithms will never question their answers as to whether they make any sense. They could come up with stupid answers and never know that. Stupid answers are something a human can easily recognize. At least we are good at that. However, under communism people would not dare say anything the party thought up was stupid, so we may have that problem with AI. Sounds like this is what is happening in China currently.

Of course, the future is going to be different than the past. It has always been that way. I understand where he is going because of the changes our current technology is making in our lives. However, he paints a very bleak picture of our future and I do not believe that. However, we should be thinking about the future and how we will handle and adapt to a future of technology that is coming. Trying to deny new technology has not worked in the past and will not work now.

He paints a good picture of the past history and how we ended up where we are. Why certain countries are ahead. This will give you a great economic view of why the west is currently ahead. This book is well worth reading for this coverage of the past. The future is harder to know. We are going ahead to a very different future. He wonders if non-western cultures are better suited to our coming future. It is an interesting question. Whatever happens, we are certainly in for turmoil and disruptions with the new technology coming in the future.

There is a good review of this book on African Eye Report. There is a post on this book by John Aidan Byrne on GRIPT. This includes a review of the book and a podcast interview with Viktor Shvets. Alan Kohler at Eureka Report interviews Viktor Shvets. This is a podcast, plus also they show the full podcast in print. On the John Tread Gold website there is an review of this book and a interview podcast with Viktor Shvets.

There is an interview with Viktor Shvets by Gareth Vaughan on Interest. This is a good interview and Viktor Shvets views of the future is not so bleak. Viktor Shvets is interviewed on BNN. This is from August 2019. Viktor Shvets is part of the Macquarie Group, a Sydney-based investment bank. He is Managing Director at Macquarie Securities in Hong Kong. On Hamilton Wealth Partners Viktor Shvets speaks about his book through the Though Leaders Series.

An index of the books I have reviewed are on my website at Books. I have three blogs. The first talks only about specific stocks and is called Investment Talk . The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter.

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