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The Power of Nothing to Lose
- The Hail Mary Effect in Politics, War, and Business
- Narrated by: Fred Sanders
- Length: 5 hrs and 30 mins
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Publisher's Summary
Following books by Malcolm Gladwell and Dan Ariely, noted economics professor William L. Silber explores the Hail Mary effect, from its origins in sports to its applications to history, nature, politics, and business.
A quarterback like Green Bay’s Aaron Rodgers gambles with a Hail Mary pass at the end of a football game when he has nothing to lose - the risky throw might turn defeat into victory, or end in a meaningless interception. Rodgers may not realize it, but he has much in common with figures such as George Washington, Rosa Parks, Woodrow Wilson, and Adolph Hitler, all of whom changed the modern world with their risk-loving decisions.
In The Power of Nothing to Lose, award-winning economist William Silber explores the phenomenon in politics, war, and business, where situations with a big upside and limited downside trigger gambling behavior like with a Hail Mary. Silber describes in colorful detail how the American Revolution turned on such a gamble. The famous scene of Washington crossing the Delaware on Christmas night to attack the enemy may not look like a Hail Mary, but it was. Washington said days before his risky decision, “If this fails I think the game will be pretty well up.” Rosa Parks remained seated in the white section of an Alabama bus, defying local segregation laws, an act that sparked the modern civil rights movement in America. It was a life-threatening decision for her, but she said, “I was not frightened. I just made up my mind that as long as we accepted that kind of treatment it would continue, so I had nothing to lose.”
The risky exploits of George Washington and Rosa Parks made the world a better place, but demagogues have inflicted great damage with Hail Marys. Towards the end of World War II, Adolph Hitler ordered a desperate counterattack, the Battle of the Bulge, to stem the Allied advance into Germany. He said, “The outcome of the battle would spell either life or death for the German nation.” Hitler failed to change the war’s outcome, but his desperate gamble inflicted great collateral damage, including the worst wartime atrocity on American troops in Europe.
Silber shares these illuminating insights on these figures and more, from Woodrow Wilson to Donald Trump, asylum seekers to terrorists and rogue traders. Collectively they illustrate that downside protection fosters risky undertakings, that it changes the world in ways we least expect.
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- Anonymous User
- 09-12-21
This book should have been a podcast
I must reluctantly describe this book as an overwhelming disappointment. The prevailing feeling is that the author took an interesting concept that naturally covered about 45 minutes, and stretched it to fill a book. The premise--that people make different decisions when they perceive they have nothing to lose--is a fascinating one. And the examples of this--such as outgoing presidents issuing ill-advised pardons and rouge traders making ruinous bets--make the book interesting. But in each topical chapter, the author includes far, far too much extraneous detail that seemingly serves only to bolster the page count. Rosa Parks' decision to refuse vacating her seat, when viewed and told through this lens, is an excellent story that the author tells well. But the extraneous detail concerning how many ministers it took to organize the Montgomery bus boycott, which church they met at, how many people showed up, and similar details--though worthwhile information for historical analysis--didn't factor in the author's assessment of decision making with nothing/little to lose. Ditto the assessment of President Bill Clinton's dubious decion to pardon Marc Rich: the author easily concludes that having 'nothing to lose' made Clinton pardon the unpardonable Rich for dubious, ulterior motives. But the lengthy recitation of detail presented but never analyzed makes the chapter a drudge.
In a variation on the theme, the author also includes superfluous information that both bolsters the page count and undercuts his premise. An interesting chapter dealing with how to make inmates serving life sentences have 'something to lose' is inexplicably headlined by instances of life-sentence inmates perpetuating grisly violence, which, for reasons of his own, the author recouts in blood-curdling detail. This strange miscalculation gives the instances the author considers outliers overly-comprehdnsive treatment. An inmate brutally killing another does nothing to support the claim (made only after delay) that life-sentence inmates are often model prisoners, and the graphic details, notes to prison psychiatrists, letters the attacked inmate sent home before the attack, and subsequent lawsuits seem wholly out of place and beside the point, which the author contends is that such attacks are rare.
This book has all the indicia of a great insight being padded with tangential information to fill a book. It would have been an excellent podcast had the author not gotten greedy.
2 people found this helpful
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- Jason
- 06-06-22
Good Thought; Random Stories
In depth stories that feel bias and random.
The title is better than the book.
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this is awesome
- By Michael Garcia on 04-26-17
By: Amy Goodman, and others
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Do Not Disturb
- The Story of a Political Murder and an African Regime Gone Bad
- By: Michela Wrong
- Narrated by: Michela Wrong
- Length: 18 hrs and 2 mins
- Unabridged
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We think we know the story of Africa’s Great Lakes region. Following the Rwandan genocide, an idealistic group of young rebels overthrew the brutal regime in Kigali, ushering in an era of peace and stability that made Rwanda the donor darling of the West, winning comparisons with Switzerland and Singapore. But the truth was considerably more sinister.
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What is true and what isn't?
- By Buretto on 11-30-21
By: Michela Wrong
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Bibi
- My Story
- By: Benjamin Netanyahu
- Narrated by: David Marantz, Benjamin Netanyahu
- Length: 25 hrs and 49 mins
- Unabridged
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In Benjamin “Bibi” Netanyahu’s sweeping, moving autobiography, one of the most formidable and insightful leaders of our time tells the story of his family, his path to leadership, and his unceasing commitment to defending Israel and securing its future. Through a host of vivid anecdotes, he narrates his own evolution from soldier to statesman, while providing a unique perspective on leadership, the fraught geopolitics of the Middle East, and his successful efforts to liberate Israel’s economy, which helped turn it into a global powerhouse of technological innovation.
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ביבי מלך ישראל, חי חי וקיים
- By Anonymous User on 10-19-22
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The Violence Inside Us
- A Brief History of an Ongoing American Tragedy
- By: Chris Murphy
- Narrated by: Chris Murphy
- Length: 11 hrs and 58 mins
- Unabridged
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Is America destined to always be a violent nation? This sweeping history by U.S. senator Chris Murphy explores the origins of our violent impulses, the roots of our obsession with firearms, and the mythologies that prevent us from confronting our national crisis. In many ways, the United States sets the pace for other nations to follow. Yet on the most important human concern - the need to keep ourselves and our loved ones safe from physical harm - America isn’t a leader.
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America needs more white men like Chris Murphy.
- By jnlv68 on 09-20-20
By: Chris Murphy
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The Shattering
- America in the 1960s
- By: Kevin Boyle
- Narrated by: Jonathan Yen
- Length: 18 hrs and 22 mins
- Unabridged
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On July 4, 1961, the rising middle-class families of a Chicago neighborhood gathered before their flag-bedecked houses, a confident vision of the American Dream. That vision was shattered over the following decade, its inequities at home and arrogance abroad challenged by powerful civil rights and antiwar movements. Assassinations, social violence, and the blowback of a "silent majority" shredded the American fabric.
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The insights of this period are enlightening
- By recreational skier on 01-17-22
By: Kevin Boyle
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The Swamp
- Washington's Murky Pool of Corruption and Cronyism - and How Trump Can Drain It
- By: Eric Bolling
- Narrated by: Eric Bolling
- Length: 5 hrs and 58 mins
- Unabridged
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When Washington, DC, was first built, it was on top of a swamp that had to be drained. Donald Trump says it's time to drain it again. In The Swamp, best-selling author and Fox News Channel host Eric Bolling presents an infuriating, amusing, revealing, and outrageous history of American politics, past and present, Republican and Democrat.
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Mr. President, drain the swamp
- By Wayne on 06-30-17
By: Eric Bolling
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The Glory and the Dream
- A Narrative History of America, 1932 - 1972
- By: William Manchester
- Narrated by: Jeff Riggenbach
- Length: 57 hrs and 23 mins
- Unabridged
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This great time capsule of a book captures the abundant popular history of the United States from 1932 to 1972. It encompasses politics, military history, economics, the lively arts, science, fashion, fads, social change, sexual mores, communications, graffiti...everything and anything indigenous that can be captured in print.
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Fabulous book, good narration, bad recording
- By Paula on 07-10-08
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Crimes and Cover-ups in American Politics
- 1776-1963
- By: Donald Jeffries, Ron Paul - foreword
- Narrated by: Lars Mikaelson
- Length: 13 hrs and 49 mins
- Unabridged
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Jeffries spares no one and nothing in this explosive new book. The atrocities of Union troops during the Civil War, and Allied troops during World War II, are documented in great detail. The Nuremberg Trials are presented as the antithesis of justice. In the follow-up to his previous, bestselling book Hidden History: An Exposé of Modern Crimes, Conspiracies, and Cover-Ups in American Politics, Jeffries demonstrates that crimes, corruption, and conspiracies didn't start with the assassination of President John F. Kennedy.
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Southern apologetic nonesense
- By Amazon Customer on 07-26-20
By: Donald Jeffries, and others
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American Midnight
- The Great War, a Violent Peace, and Democracy’s Forgotten Crisis
- By: Adam Hochschild
- Narrated by: Jonathan Todd Ross
- Length: 15 hrs and 6 mins
- Unabridged
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From award-winning, New York Times best-selling historian Adam Hochschild, a fast-paced, revelatory new account of a pivotal but neglected period in American history: World War I and its stormy aftermath, when bloodshed and repression on the home front nearly doomed American democracy.
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Disturbing yet Reassuring
- By Sams95 on 11-18-22
By: Adam Hochschild
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The Man Without a Face
- The Unlikely Rise of Vladimir Putin
- By: Masha Gessen
- Narrated by: Masha Gessen
- Length: 10 hrs and 24 mins
- Unabridged
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The Man Without a Face is the chilling account of how a low-level, small-minded KGB operative ascended to the Russian presidency and, in an astonishingly short time, destroyed years of progress and made his country once more a threat to its own people and to the world.
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A Preview of Authoritarianism in the USA
- By Jimmy O on 06-08-19
By: Masha Gessen
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The White Pill
- A Tale of Good and Evil
- By: Michael Malice
- Narrated by: Michael Malice
- Length: 9 hrs and 11 mins
- Unabridged
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The Bolsheviks promised that they were building a new society, a workers’ paradise that would change the nature of mankind itself. What they ended up constructing was the largest prison the world had ever seen: a Union of Soviet Socialist Republics that spanned half the globe.
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Do not buy the audio version.
- By Todd on 02-20-23
By: Michael Malice
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Taking a Stand
- Moving Beyond Partisan Politics to Unite America
- By: Rand Paul
- Narrated by: Brian Troxell
- Length: 8 hrs and 34 mins
- Unabridged
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In his four years since joining the Senate, Rand Paul has risen to the forefront of the national discussion. He's being called "the most interesting man in politics" by TIME magazine. When Senator Paul believes in an issue, he reaches across the aisle to collaborate with his colleagues. He's worked with Senator Kirsten Gillibrand on an antiwar bill, a financial assistance for childcare bill, and a protection for women in the military bill.
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A great message and a way forward!
- By Dustin C. on 05-27-15
By: Rand Paul
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The Plot to Seize the Whitehouse
- The Shocking True Story of the Conspiracy to Overthrow FDR
- By: Jules Archer
- Narrated by: Ken Maxon
- Length: 8 hrs and 22 mins
- Unabridged
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Most people will be shocked to learn that in 1933 a cabal of wealthy industrialists - in league with groups like the K.K.K. and the American Liberty League - planned to overthrow the U.S. government in a fascist coup. Their plan was to turn discontented veterans into American "brown shirts," depose F.D.R., and stop the New Deal. They clandestinely asked Medal of Honor recipient and Marine Major General Smedley Darlington Butler to become the first American Caesar. He, though, was a true patriot and revealed the plot to journalists and to Congress.
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Good storytelling, poor voice-over
- By Wayne Hughes on 02-12-13
By: Jules Archer
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Operation Snow
- How a Soviet Mole in FDR’s White House Triggered Pearl Harbor
- By: John Koster
- Narrated by: Michael Kramer
- Length: 6 hrs and 23 mins
- Unabridged
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On December 7, 1941, the nation of Japan attacked Pearl Harbor and prompted the United States’ entry into the bloodiest war in human history. Americans have long debated the cause of the bombing; many have argued that the attack was a brilliant Japanese military coup or a failure of US intelligence agencies or even a conspiracy of the Roosevelt administration. But despite the attention historians have paid to the bombing of Pearl Harbor, the truth about that fateful day has remained a mystery - until now.
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PUT IT IN THE FILE BLAMING FDR FOR PEARL HARBOR
- By Ron on 11-21-20
By: John Koster
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State of War
- MS-13 and El Salvador's World of Violence
- By: William Wheeler
- Narrated by: William Wheeler
- Length: 3 hrs and 13 mins
- Unabridged
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Born in Los Angeles, the gang MS-13 was founded in the 1980s by Salvadoran refugees who had been hardened in a civil war stoked by American foreign policy. Foreign correspondent William Wheeler tracks MS-13 from LA, where he meets the founders of the gang, to El Salvador, where three generations of Salvadorans have been drawn into an escalating cycle of conflict. State of War tells the tragic story of a brutal civil war that has never ended.
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What US voters don’t know about the race to leave C & S America migration North.
- By douglas fritz on 03-20-23
By: William Wheeler