Silvio Berlusconi

The Book of the Week is “Silvio Berlusconi” by Paul Ginsborg, published in 2004. This is an extended essay on the media mogul/powerful politician in Italy. It examines the issue of whether Berlusconi practiced Fascism, not necessarily through creating an atmosphere of fear and intimidation, but through monopolistically broadcasting propaganda in the guise of education, to the masses. He combined his business dealings with politics to amass a staggering amount of power, with the usual conflicts of interest that come with the territory.

Over the course of three decades starting in the 1970’s, operating out of Milan, Berlusconi, a construction contractor, founded an ad agency and purchased TV stations that accounted for the bulk of Italy’s visual information sources. Later, he entered politics and bought a professional European football team. He was accused of racketeering, bribery and money laundering, among other crimes.

Berlusconi proved to be teflon, escaping punishment in the 1990’s. Not only that, he made a comeback– legally, economically and politically. As of 2004, he was still dragging his feet on answering the legal charges against him, in order to invoke the statute of limitations to weasel out of going to jail.

Read the book to get the details, and the author’s take on whether Berlusconi’s political career would survive much longer, given his outrageous exaggerations when recounting his endeavors for the people of Italy in 2004. The nation’s cost of living had soared and real wages had fallen significantly beginning in 2002.

The following video of Al Franken’s speech on America’s fiscal deficit is well worth watching in its entirety; he mentions a few recent American presidents’ economic policies (starting just after 23:00)– some of which can be compared to Berlusconi’s:

https://youtu.be/hHUDPU7_2qA

Lastly, Berlusconi’s reputation for alleged extensive law-breaking had been a “thing” for a long time.

Meskel

The Book of the Week is “Meskel” by Mellina and Lukas Fanouris, originally published in 1995.

This is the story of two families, two of whose members– the authors– married and lived in Addis Ababa, Ethiopia (formerly Abyssinia) through the 1970’s. Their forebears had originally come from Greece to live in Abyssinia in 1926. Upon settling in their new country, wife and husband of one family– Evangelia and Manoli Fanouris, started a Greek restaurant, and newspaper and magazine distribution business/bookstore. Then they began having children; Lukas was one of the younger ones.

In late 1934, there was border fighting between Abyssinia and Italian Somaliland. The Italians used poison gas against the Somalis. Although Evangelia’s brother Logotheti had designed the Royal Palace and had friends in high places, Emperor Haile Selassie still threatened Manoli with death because he sold foreign publications that were critical of the regime. Other untoward events occurred through the years, due to the Italian invasion and later, WWII. Nevertheless, the Fanouris did not leave the country, as their business provided them with a good life.

Mellina married Lukas Fanouris when he aggressively courted her. The families had known each other for years from the Greek community in Addis Ababa. She worked for the United Nations. In late 1973, Ethiopia was facing “… union unrest, drought in the north, and rumors of famine, allegations of corruption in the government and rising food prices.” Army soldiers were fed up with their living conditions and turned against the Emperor. Lukas’ parents lived richly, what with a five-bedroom, five-bath mansion, flower garden, balcony and verandas. But there came a time when they finally needed to flee anti-government strikes, protests and violence.

In September 1974, a documentary on Ethiopians’ starvation due to drought was finally released, after the military had taken control of the media. In December, the nation changed from a kingdom to a socialist state, limiting the imported reading material of the populace to Marx, Lenin and Engels. Businesses were nationalized and martial law was imposed. The new leader, Lieutenant Colonel Mengistu Haile Mariam, copied other dictators in recent memory– Stalin (U.S.S.R.), Mao Tse Tung (China), Peron (Argentina), Pinochet (Chile) and Pol Pot (Cambodia), by ordering citizens to do hard manual labor on farms, telling them to take pride in feeding the country; and by imposing the usual witchhunts, torture, arrests, show-trials and imprisonment for political dissidents and members of the old regime. Not to mention the trampling on what industrialized, democtratic nations would consider due process.

Read the book to learn the details of how the authors survived the attack on their freedoms through the 1970’s, and the suspenseful survival saga of Lukas and his brother Pavlos.

The Antidote

The Book of the Week is “The Antidote” by Barry Werth, published in 2014. This suspenseful saga is about the public drug company, Vertex.

Vertex has created the core substances in drugs that treat niche diseases, such as hepatitis C and cystic fibrosis. It has partnered with various other drug companies to use their resources.

Unconventionally, in the 1990’s, Vertex’s employees were organized into teams working on protein targets rather than those working on different diseases. The company’s teams were demoralized when they failed month after month to come up with a successful molecule.

The cost of American drugs is so high not just because the drugmakers are greedy, but because their employees feel entitled to a large reward for creating an effective product that does minimal harm to patients. They take tremendous risks– acquire pricey, extensive educations in organic chemistry and such, working long daily hours, suffer loads of stress from dealing with grant applications, patent disputes, licensing issues, doctor-insurer issues, undergoing the rigorous process of seeking FDA approval after laboring months or years on a drug substance– possibly applying for approval at the same time as another company with a competing product, and face the possibility of being laid off anytime. This is why life-saving, life-prolonging medicines are astronomically expensive. However, the drugs would not exist, but for the necessary evil of a greed machine that raises the funds to pay for the price of creating them.

Vertex posted a “profit” of more than $2 million in the fourth quarter of 1993, even though it had yet to sell even one pill. Its financial arrangements with its partners allowed it to claim that its income exceeded its expenses. By the end of the 1990’s, however, there were still no actual drugs produced, and the company was likely many years and hundreds of millions of dollars from the market. It was thus a likely takeover target. Some of Vertex’s scientists and lawyers became avid day-traders of the company’s stock in the autumn of 2000, after a deal with Novartis.

Trading rumors fly all the time, and one influential analyst at a big-name investment bank might downgrade a drug company’s stock, causing a selloff. In the early 2000’s, there was an SEC accusation of insider trading against Vertex’s house counsel. Ironically, it is common practice for panel members of the FDA to receive financial support in research-funding from many pharmaceutical companies.

Those companies that are public must answer to Wall Street. Unsurprisingly, at numerous medical conferences, their executives spout cliches such as “…We believe it’s a matter of time before we break this disease wide open and make a really big difference for a lot of people.”

Read the book to learn about actions Vertex took in research, development and finance in order to stay in business twenty years while accumulating losses of more than $1.5 billion; the causes of its high turnover of executives; how it became more geared toward finding commercial applications with its research results, and how it had fared product-wise and financially by autumn 2013.

Trouble Man

The Book of the Week is “Trouble Man” by Steve Turner, published in 1998. This is a biography of Marvin Gaye. His father, a Pentecostal preacher for the House of God church, and violent drunk, was the third oldest of thirteen surviving siblings, born in October 1914.

Gaye was born in April 1939. His full name was Marvin Pentz Gaye II. “His Motown image was still that of a polite, handsome black man who believed in fidelity, success and family life… like his father, Marvin was misogynistic. The function of women, he believed, was to serve and obey men.”

Unfortunately, his life spiraled downward into drug addiction and promiscuity, not unlike another famous and popular peforming artist of a later generation– Richard Pryor. Read the book to learn the details.