Moment of Truth Book

Cowen addresses rating systems in this work, along with a host of other fame-related issues. Simpler frameworks, such as thumbs up or down, force the critic to provide a more definitive conclusion than those allowing elaborate and nuanced ratings. And so, in giving this book four stars instead of three, I'm rounding up. The book makes a strong case that commercial society and the pursuit of fame increases the diversity and strength of the market's output. But while Cowen admits that celebrity-seeking can lead to deleterious effects in areas such as politics, he never addresses the true cost of these effects. Instead, in some form of ambiguous balancing, he finds that they are at least counter-weighted by the beneficial effects. So for example in politics, fame seeking and the accompanying media scrutiny lead to dishonest politicians taking the reins, and even the honest ones have less room for true greatness. Admittedly a bad result, Cowen nonetheless feels confident that the heightened public scrutiny also gives these scoundrels less room for deceitful conduct. We may never have Lincolns in this framework, but Hardings are unlikely too. The point is persuasive but does not answer whether this outcome is preferable. And it fails to consider historical precedent. Were politicians operating prior to this new regime of intrusive media truly more corrupt on average? Another issue is that he seems to equate merit with morality when convenient. This often allows him to evade the not inconsiderable question of whether those celebrities we heap praise and fortune upon truly deserve it. On the whole, however, his analysis of the economics of fame is insightful and I'm much less a cultural declinist after reading the work.