All posts tagged: Reed Hundt

A Crisis Is A Terrible Thing to Waste

A bad report from the doctor.  An unexpected shift downward in job prospects.  A jarring call in the middle of the night.  An unwelcomed story on the front page of the New York Times. Each is a crisis. Crises are inevitable. How we respond says a great deal about our courage and fortitude.  It was Stanford economist Paul Romer who coined the famous soundbite, “A crisis is a terrible thing to waste.”  Others have used similar language, including former Intel CEO and Chairman Andrew Grove.  When speaking of his company’s Pentium Processor flaw in 1994, Grove said, “Bad companies are destroyed by crisis, Good companies survive them, Great companies are improved by them.” In a recent Politics and Prose presentation, Reed Hundt—author of A Crisis Wasted* and former chairman of the Federal Communications Commission—discussed the global financial meltdown and Great Recession of 2008-2009.  While his new book studies the courage and fortitude of those addressing this financial crisis, Hundt goes further to describe key elements in responding effectively to moments of upheaval. First, correct diagnosis of …

From the Bookshelf

The world’s landscape has shifted. Two books came off my “to be read” pile this month, and both focused on a theme as current as the day’s headlines. The more substantive is a deep analysis of the 2008 financial crisis and how early decisions made in the midst of the Great Recession still affect us today.  The other, a charming novel set in a luxury hotel in Moscow, takes the reader from the upheaval of the Russian Revolution through the mid-1950s.  President Barack Obama and Count Alexander Rostov, main characters in fact and fiction respectively, nonetheless face similar challenges when their world shifts underneath them. A Crisis Wasted:  Beginning in 2008 through at least 2009, the United States faced the most serious economic crisis since the Great Depression.  With the Bush Administration transitioning out of power, President Barack Obama and his administration took on the lion’s share of the work to address this challenge, often while battling opposing forces in both political parties.  That the United States survived without falling into national and worldwide chaos …