Turbo-Capitalism: Winners and Losers in the Global Economy

Average customer rating:

comprehensive economic look at the world

Insightful and very readable analysis of the new capitalism

Very serious criticism.

Globalization And "Free Trade" Exposed

Biased wishful thinking

Turbo-Capitalism: Winners and Losers in the Global Economy
Edward N. Luttwak , and Weidenfeld & Nicolson
Manufacturer: Harper Perennial
ProductGroup: Book
Binding: Paperback

Policy & Current Events | Popular Economics | Business & Investing | Subjects | Books
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ASIN: 006093137X

Amazon.com

A new kind of capitalism is raging around the globe--and its economic and social consequences could be crippling. In Turbo-Capitalism, Edward Luttwak, a noted international strategist and consultant, warns that the free market has gone amok. He predicts possible massive increases in poverty, crime, and unemployment, especially in the Third World, which lacks the political and legal systems of the U.S. Unlike the benign, carefully controlled capitalism that ruled from the 1940s to the 1980s, this new whirlwind capitalism will eventually create tremendous social upheaval. "Allowing turbo-capitalism to have its way, as in the United States and the United Kingdom, results in widening income differentials in exchange for not-so-rapid growth," writes Luttwak, who provides plenty of statistics to support his argument. Luttwak acknowledges that economic progress could be crippled if the world returns to the old model of government regulation, and this he calls the "great dilemma," with no easy answers.

While Luttwak's interest is more global, he offers some domestic examples to illustrate the effects of capitalism unleashed. He points to Boeing, which suffered from massive layoffs in the 1990s, even as aircraft orders soared. And he ridicules the notion that high-tech will come to the rescue with thousands of new jobs for downsized blue-collar and white-collar workers, calling these hopes "The Microsoft Mirage." A sweeping, sometimes densely written treatise, Turbo-Capitalism raises important questions for policymakers and business leaders. --Dan Ring

Book Description

In this incisive and controversial exposÉ of the hidden effects of today's free-market capitalism, Edward Luttwak describes in powerful detail how it vastly differs from the controlled capitalism that flourished from 1945 to the 1980s. Turbo-capitalism is private enterprise liberated from government regulation, unchecked by effective trade unions, unfettered by concerns for employees or communities, and unhindered by taxation or investment restrictions. The winners in this free-for-all are getting much richer, while the losers are becoming poorer and are forced by downsizing to take the traditional jobs of the underclass. Led by the United States, closely followed by Britain, turbo-capitalism is spreading fast throughout Europe, Asia, and the rest of the world without the two great forces that check its enormous power in the United States: a powerful Legal system and the stringent rules of American calvinism. Luttwak exposes the major societal upheavals and inequities turbo-capitalism causes and the broad dissatisfaction and anxiety that may result.

Customer Reviews:

comprehensive economic look at the world .......2004-12-24

I've made a habit of reading books on economics within the past year and this one is at the top of my recommendation list. Luttwak clearly describes the situation of capitalism worldwide, from the most regulated to the least restrictive economies, which he dubs turbo-capitalist (America and Britain.) He is clear that the tradeoff is security and broad wealth distribution versus efficiency and economic inequality. There is no resisting the move toward efficiency, because there is no way to compete with it. So, the whole world is inevitably moving in the turbo-capitalist direction. There are good and bad aspects of this which Luttwak discusses but regardless, we are going with the flow in which privatization and de-regulation are the driving forces, bringing rapid change, dislocation of labor, uncertainty of employment and anxiety about economic security. This book was educational for me on the topic of the establishment of the EU and the ECU (Euro.) I was particularly interested in his discussion of central banking, but found myself eagerly turning every page in expectation of what I'd find him explaining next. Luttwak is equally at home describing why Americans are such super-consumers, the Italian way of protecting jobs in a closed (but opening) economy, and the function of the Russian mafia in countering the economic power of the Russian state. An informative and entertaining read that is bound to add depth to the reader's understanding of current events.

Insightful and very readable analysis of the new capitalism.......2004-02-04

Unlike some other reviewers, I find that Edward Luttwak's analysis of the new capitalism, or what he calls Turbo capitalism, was very well considered and presented. Luttwak knows europe very well, as he lives and teaches in Italy and speaks a number of languages fluently. The book is not a condmenation o cpaitalism; rather it shows how from the late seventies and after the fall of Soviet communism the Keynesian economic system that had been devised to produce a compromise between the aspirations of socialism and the practical realities of capitalism, which existed in much of the Western world has been dismantled. He notes that in order to reduce the appeal of socialism, which was gaining ground throughout Europe prior to the rise of fascism and after the Second World War, Western governments were almost forced into satisfying vast numbers of their populations by institutionalizing such benefits as free medical service and schooling. the equalizing policies help to soften demands for outright socilaism while allowing free enterprise to grow - albeit with some regulation. Luttwak then terms 'turbo capitalism' that transformation, which took place after the fall of the Berlin wall, characterized by the de-regualtion of free enterprise and the simultaneous retraction of the social welfare mechanisms that had been established in the post-war period.
Luttwak also looks at how certain market inefficiencies, like having too many employees, family businesses and fewer working hours actually helped make the 'capitalist' system more sustainable for the vast majority - or for what used to be the middle class until a decade ago. Turbo capitalism has accelerated and accentuated class divides, reducing the influence and size of the middle class. There are some cultural anecdotes involving work hours and differences in public morality between the United States and Europe mentioned here and there and they add an amusing effect. i found little to object in what he noted, as he remained fair and relevant. Overall this is an excellent book, which provides a great deal of insight into an the socio-economic processes that affecting the modern society.

Very serious criticism........2002-12-23

I totally agree with Edward Luttwak's plain talk: today's capitalism with its managing for the short time, profits the happy few, but is a disaster for the many: abrupt mass firings, disruption of individual lives, of families, of communities and even of entire regions, insecurity of the middle classes.

Fortunately, he believes that turbo capitalism will pass, but, for me, not immediately.
For the reasons, read for instance the excellent books on US politics by Gore Vidal.

One of Luttwak's cures to reverse the actual situation is control by the government, but if the government is controlled by the few (private corporations and their main individual shareholders), the proceeds of capitalismn will continue to flow to the few.

As a matter of fact, he is severe for the actual governmental policies, like monetarism (it devalues labor rather than money); like the conversion of all institutions - hospitals etc. - into profit-maximizing corporations, or the hypocritical war on drugs.
I quote: "Even the fanciest illegal substances hardly make a dent in the budget of many users, some of whom are multi-millionaires ... The ruined drug addict on his way to a penniless death in a sordid alley is mostly myth: if it were not so ... Colombian drug lords would have to be content with tenements and bicycles instead of palatial mansions and executive jets." (p.210)

His conclusion is obvious: what is needed is a government that governs for the many and distributes more equally than now the proceeds of capitalism over the whole population, not only through wages, but also through better social welfare.
But this is only possible via the democratic process.

This book contains also excellent analyses of, among others, the causes of World War I, mercantilism or the situation in Russia after the fall of the Berlin wall.

An important work. Not to be missed.

Globalization And "Free Trade" Exposed.......2002-06-16

What happens when the pursuit of wealth becomes such a dominant force in the world that all moral, ethical, and societal values become secondary? What happens when the bottom line is always...money?

Can you spell ENRON?

Most of the world is against globalization. But we are not sure why. We just feel that it is bad somehow. We see life becoming more uncertain, jobs being eliminated, families and societies being torn apart, and "job security" becoming a thing of the past. Meanwhile, the salaries of CEOs zoom into the stratosphere.

But it is difficult for the average person to verbalize exactly what is "wrong" with globalization and "free trade". We simply do not have the eagle eye view of the situation. But Mr. Luttwak does.

Mr. Luttwak is not against capitalism. But he lays a case that it is out of control and that the "free trade" agenda will only benefit the wealthy. He very eloquently lays out how the pursuit of wealth is now running rampant over borders, governments, cultures, and how wealth is accumulating at a faster pace into the hands of fewer and fewer people. And most important...the cost to all of us "losers" in this frantic "greed rush".

The WTO and G8 meetings are held in secret. Those who meet in secret NEVER have the common good at heart. If they did, they would welcome very bright lights so we could all appreciate their great philanthropy and goodness.

After reading this book, I know why they meet in secret. I now know who is pushing globalization and why they are doing it. The agenda of globalization is laid bare and yes, it is scary. Imagine one world governed by company interests whose only god is the dollar...that will be the ultimate result of turbo capitalism.

While this book is only a call to arms with no solution offered, it is excellent for no other reason than the way in which Mr. Luttwak so deftly lays out the problems.

Buy this book. You will not be disappointed.

Biased wishful thinking.......2000-10-10

While Edward Luttwak bemoans what he (correctly) sees as an onrushing train of "Turbo-Capitalism" - the worldwide trend toward unregulated markets, free flow of capital and decline of the importance of nation-state, - he completely fails to see the technological reasons for it. He dismisses such reasons by stating that "technology does not exist in vacuum" and "people made a decision to use it" in support of turbo-capitalism. That's as naïve as claiming that 15th century people "made a decision" to use gunpowder and manufacturing in order to destroy the feudal system of independent manors. For anyone interested in the analysis of why microprocessor is as dangerous to the nation-state as gunpowder was to feudal manor, I suggest "The Sovereign Individual" by Davidson and Rees-Mogg.

The above is the "wishful thinking" part. As for the left-leaning biases of Mr. Luttwak, they are almost too numerous to list, but the most glaring one is his claim that information technology is a net destroyer of jobs. He supports this claim by comparing the number of employees in the leaders of "old economy" (Ford, GM, Kodak, etc.) and the leaders in "new economy" (Microsoft, Apple, Netscape, etc.) and pointing out that the latter employ a small fraction of the former. First, in information economy high-tech jobs are spread among hundreds and thousands of small companies, rather than concentrated in a few giants (his "leaders of new economy" list should have had at least 200 names). But more importantly, Luttwak completely misses the fact that enormously greater productivity of information-based economy allows the relatively smaller number of people involved in the actual production to support a mass service sector impossible in the industrial economy. Travel agencies, spas, physical therapists, massage therapists, concierge services, specialized restaurants, beach resorts, beauty salons, pool and gardening services, and all sorts of professionally taught leisure activities - scuba diving, sky diving, mountain climbing, spelunking, deep-sea fishing, etc. - have proliferated in the numbers unthinkable just a few years ago. That's one of the beneficial results of microprocessor revolution, of which Luttwak's "turbo-capitalism" is but one aspect.

Book Description

This twenty-third volume of Research in Organizational Behavior presents papers on a variety of topics in the field of organizational behavior, with the twin goals of consolidating prior research and breaking new theoretical ground. As in previous years, we have tried to maintain what one of our colleagues recently labeled "a tradition of rigorous eclecticism."

Book Description

This classic book is accepted internationally as the standard treatment of the mechanical properties of biological fluids, solids, tissues and organs. It is used widely as both a reference and textbook in this rapidly-growing field. Biomechanics presents a general outline of the discipline, with applications to bioengineering, physiology, medicine and surgery. The second edition reflects the broad advances that have been made in this field during the past decade, and adds numerous new topics. References have been brought up to date, and the widely-praised emphasis on formulating and solving problems has been strengthened with numerous new problems. This book begins with a unique historical introduction to the field of biomechanics, followed by a vital chapter which relates the definitions and vocabulary of applied mechanics to biological tissues. These tools are then used to treat in detail the mechanical properties of blood, including blood cells and vessels. The remaining chapters discuss the viscoelastic properties of biological fluids and solids, as well as the mechanics of muscle, bone and connective tissue.

Customer Reviews:

The Bible.......2007-02-10

Professor Fung is considered the father of bioengineering and founder of biomechanics.
Winner of Timoshenko and Poiseulle medals he's an Engineer that started to study physiology when his mother was diagnosed with glaucoma in 1957.
I am trained as a Medical Doctor and Molecular Biologist but being the son of a Professor of Civil Engineering made me understand the importance that structural engineering has in Medicine and Biology.
Now I am interested in nuclear matrix and lamins(as they are connected to aging phenomena) so I am training myself in Biomechanics, and I found that this book is the strating point.
I recommend this book to all Structural Engineers,Biomedical Engineers, MDs and Cellular and Molecular Biologists that want to understand this field.

A Masterpiece in Biomechanics!.......2002-12-02

What I would say is not a comprehensive review of what the great book talks, but just telling you a truth: if you have engineering and mathamatics background and wanna combine your background to do research in physiology, Fung's book is absolutely a must-buy. This book is profound, but it is actually rooted in nearly all fields of biomechanics research.
It is a conclusion for biomechanics research till 1980's; also this book is a truly great reference for all current researchers who are interested in biomedical research in point of view of a mathamatician and engineer.

Simply the Best.......2000-06-16

Fung takes a continuum mechanics approach to the principles that underly the human body. All of the ideas in the text are backed up with solid research and easy to understand equations, as well as text descriptions. Fung is also responsible for researching many of the ideas of biomechanics, and so, the text takes on a personal view not found in other books. All in all, the best book out there for introductory biomechanics, but one that you will use for the rest of your life.

Biomechanics: Mechanical Properties of Living Tissues.: An article from: American Scientist

Average customer rating:

Biomechanics: Mechanical Properties of Living Tissues.: An article from: American Scientist

Manufacturer: Sigma Xi, The Scientific Research Society
ProductGroup: Book
Binding: Digital

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Book Description

An Abrams favorite, now available in a new, fun format!

Stephen Green-Armytage's fabulous hit book--a look at the bizarre and beautiful world of exotic ornamental chickens first released in Fall 2000--is back in a delightful new edition that can be kept in your pocket!

Customer Reviews:

The chicken as art..........2007-07-05

This hefty little book is a surprise on every page. I've always known chickens were beautiful, as all fowl, poultry and gamebirds are. But these lovely macros of the breed standards are really just incredible, from a fellow writer/photographer's point of view. Whatever your interest in these birds, be it a curiosity or a hobby, you will love this book.

I also like the size. Easy to find on my overloaded bookshelves. So kudos to Mr. Green-Armytage, for a job well done. Chickens aren't the most cooperative subjects for a photo shoot. I just wonder how many hours to photograph plus travel time he has into this!

What a colorful book.......2007-01-04

My dad raised chickens all of his life. He had many breeds and varieties. He no longer has the chickens and when I saw this book I thought he would enjoy it. I gave it to him for Christmas and when he opened it he looked through it right away and said, "Maybe I need to get some chickens again." The pictures are great. Everyone at the party enjoyed the book and I know my dad will enjoy it over and over again.

beautiful pictures.......2006-11-14

Even though it did not have lots and lots of facts, the pictures make this book well worth buying.

Love Chickens!.......2006-08-01

Beautiful photographs and interesting information. Great coffee table book! A book you can enjoy for years to come and a great conversation starter!!!

Lots of beautifull pics and great info!.......2006-07-15

It's really amazing the amount of pictures with full details! I found it lovable! The amount of information it has it IS enough and great! If you don't know anything about chickens or don't know how many diferent kind of breed are in the world, this book it's perfect.It gives you everything you need to know straight to the point! And for those that love chickens it's a perfect addition to their books collection!

Average customer rating:

The full story

I love this book

good book

Outshines by far any book on the topic of sailing theory.

The Symmetry of Sailing: The Physics of Sailing for Yachtsmen
Ross Garrett
Manufacturer: Sheridan House
ProductGroup: Book
Binding: Paperback

Naval | Military | History | Subjects | Books
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Book Description

Why must a boat make leeway in order to sail to windward? How can a helmsman prevent downwind rolling? Why is a sail able to produce a force at right angles to the wind direction? How do the motions of water particles in waves affect boat handling? These and many other important questions are addressed by the author in this detailed study of the motive forces of a yacht.

The author has the rare gift of enabling his readers to relate the nautical phenomena with which they are so familiar to a physical explanation of how and why these occur. The first part covers downwind sailing, upwind sailing, sails, the hull, and the dynamic motion of a yacht. Part Two is devoted to more mathematical explanations of the same phenomena for those requiring a more scientific approach.

Customer Reviews:

The full story.......2007-03-19

Garrett goes all out in describing the real physics behind sailing. A great book for anyone with a serious need or want to understand the intricacies behind a wonderful sport. The book is very technical, especially in the latter parts. Very well written, and much less overwhelming than Marchaj.

I love this book.......2006-04-07

If you like sailing and physics this book will make you enjoy on a fourth dimension.

good book.......2001-06-13

good book for the intermediate and expert in yacht design/construction and yachting who wants to check the knowledge.

Outshines by far any book on the topic of sailing theory........1999-11-18

While written some 12 years ago this book is as fresh as a daisy. Some of the topics are still breathtaking in their implications for the future of sailing such as sailing dead downwind faster than the wind.

Already practical yachts have sailed straight into the wind, and it just awaits the technology to acheive this down wind trick.

As well there are straight forward guides as to how to handle a yacht in the real world of racing, as well as sobering discussions on the effects of breaking seas.

All in all it has made me a far more aware sailor with the knowledge to plan for exciting sailing and future fun.

Average customer rating:
The Symmetry of Sailing: The Physics of Sailing for Yachtsmen
Ross Garrett
Manufacturer: Adlard Coles
ProductGroup: Book
Binding: Paperback
ASIN: B000OPH5Z4

Average customer rating:

One Of The Better Books

Let's be lighting FAST: don't buy this book; don't wastet your time

Good system. Not revolutionary, though.

The writer's handbook

A great book

Writing FAST: How to Write Anything with Lightning Speed
Jeff Bollow
Manufacturer: Embryo Films
ProductGroup: Book
Binding: Paperback

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Book Description

Your mind moves at lightning speed. Your writing should, too. Introducing the F.A.S.T. System(tm) approach to writing.

Whether you hate writing, or you're an avid wordsmith, see why Writing FAST has quickly become the must-read book for writers of all levels.

The FAST System(tm) is a simple, systematic, step-by-step approach that will revolutionize the way you write. In this dynamic and passionate book, you'll discover how to see your entire project in two minutes, how to flesh it out quickly and accurately, how to use the Talktation(tm) speedwriting technique to write your project almost as easily as you speak, and how to move step by step through the editing and polishing phases, to avoid the quagmire of re-writing.

Chock full of ideas, tips, techniques and inspiration, this down-to-earth book is easy to read, and even easier to apply.

You've got something to share. This book will help you share it. Get started today. You'll be done in no time.

Customer Reviews:

One Of The Better Books .......2007-05-13

I did like this book. Yes, there is some motivational gibberish involved, but it didn't annoy me. Instead, it struck me as friendly and chatty.

But. This book just does not hold a candle to Dan Poynter's "Writing Nonfiction: Turning Thoughts Into Books." Yes, it's about writing nonfiction, and yes, it can be used to quickly organize any writing project. I've been teaching screen and play writing for thirty years, and Poynter's book helped me tighten my own teaching and writing.

Again, Bollow's book is great. I own both mentioned above, and simply prefer Poynter's.

Let's be lighting FAST: don't buy this book; don't wastet your time.......2007-02-28

Let me say what I have to say in a lighting FAST way (that I did not learn by reading this book): it is tedium itself; repetitive, uninspired, tiresome. As if this was not enough, it has plenty of nauseating humbug supposed to motivate you.

Keep away from this book. I am sure you have better things to buy with your money; better things to do with your time; better things to feed your brain with.

(By the way: I gave it one star because Amazon does not allow me to give it zero or less.)

Good system. Not revolutionary, though........2006-10-09

Bollow's method for dynamic writing is not revolutionary as mentioned in the book description. Similar methods have been used by writing professors in undergraduate and graduate curriculums. During my master's academic writing course in 1994 , for example, I learned the following method very similar to the FAST SYSTEM (FS):

1) Idea generation entails discussing a topic in pairs or groups. After that, students were supposed to brainstorm the topic, or noting down the various elements that come to mind as they reflect on the topic.

2. Freewriting according to H.D. Brown (1994) in his book "Teaching by principles" Teaching is "an initial exploration of the ideas that you have about a topic". At this point, students begin to develop their ideas and establish a viewpoint about an issue. According to Brown (1994), students should freewrite by writing whatever comes to mind about a topic for ten minutes without stopping, judging ideas, or worrying about spelling and grammar.

3. Drafting requires students to begin structuring their writing and making it coherent.

4. The final draft is produced after successive stages of drafting, editing, and revising.

Bollows, however, gives highly motivating tips to turn writing into a pleasurable task. By reading this book I've felt encouraged to go ahead with some of my projects that once I've found to be a burden.

By freewriting you write faster and better because your writing tends to become more natural and authentic. Bollows, as a result, writes in plain English and conveys his idea as he was talking to the reader. This is an essence for clear writing.

In addition, this is the first writing guide I know that presents a step-by-step system. Most of writing guides only provide a list of dos don'ts.

Finally, before applying the FS, Bollows urges the reader to become a proficient typist. I strongly believe that by combing skillful touch typing with the FS you will be able to write faster and improve your logical reasoning.

The writer's handbook.......2006-06-17

That's the book to have if you really want to write ! I was in a writer's block since two years, and now, I'm writing every day ! Thanks a lot, Jeff ! With "If you can talk, you can write", this book changed my life !

A great book.......2006-06-16

I really like this book. It helped me write my PhD thesis in Electrical Engineering in approximately two months.
The concepts are clear and the book is very motivating.
Once more: a great book!!!

Average customer rating:

Love it but one pattern is giving me trouble!

A Beginner Book

oh so cozy....

too simple

Many household items.....

Cozy Crochet: Learn to Make 26 Fun Projects From Fashion to Home Decor
Melissa Leapman
Manufacturer: Chronicle Books
ProductGroup: Book
Binding: Paperback

Crocheting | Crafts & Hobbies | Home & Garden | Subjects | Books
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Simple Crochet

ASIN: 0811840794

Book Description

Knitting is all the rage, but did you know crocheters outnumber knitters 3 to 1? Cozy Crochet does for the hook what Knitting Pretty did for needles, with 26 step-by-step projects that will appeal to the sophisticated tastes of the new generation of crocheters. Ranging from simple projects for new converts to more advanced patterns for seasoned crafters, the creations in Cozy Crochet are fresh and contemporary: stylish striped throw pillows, an embellished clutch purse, a delicate wrap for a night on the town. A comprehensive learn-to-crochet section teaches the basics in plain language with 65 helpful diagrams, and each project is illustrated with a beautiful full-color photograph. Appealing, accessible, and utterly original, the designs in Cozy Crochet will have readers hooked.

Customer Reviews:

Love it but one pattern is giving me trouble!.......2007-02-07

I was attracted to this book mainly for the Cozy Kerchief pattern-and I can't create it!! Sorry to say but so far I'm left to assume that the pattern is not only flawed but incomplete. I feel positive about the other patterns.

A Beginner Book.......2007-01-07

I got this book for my little sister, who is learning how to crochet. The projects were a little too simple for me (I've been crocheting for 18 years), but I really liked it and wanted to give it to someone who could learn crochet from it (I would like to have had a book like that when I was learning). A lot of the projects are things I would like to make or have someone make for me.

oh so cozy...........2007-01-06

If you want to know your basic crochet try this book. The projects are sweet. Just making the simple round coaster looks pleasantly swell. I rather enjoyed the pattern for the "flower" accessory that can make any plain jacket adorable. Then there is the "cozy"kerchief that you chain and double crochet that will please not just the little girl in the house, but perhaps your best friend, too.

But this book is full of challenges too, with halter tops and granny square clutches. Easy to follow instructions that can make the most extra-ordinary gifts.

If you want to learn basic crochet or need a pattern to make someone the perfect gift...this is the book you'll want.

too simple.......2005-03-01

I would consider myself a beginner to intermediate crocheter so I took the advise of someone to get this book. I was disappointed to see how simplistic this book is. It is a pretty book on the outside, but it really should be labeled in some way that it is for the very beginning beginners.

Many household items............2005-01-30

I've made scarves, afghans, table mats, lace and doilies, as well as many other small crocheted items. I like COZY CROCHET because it includes some smaller items one can use as gifts, such as lace edging for pants and flowers for applique as well as the so-called `hippie' belt. I made the latter for my 16-year old granddaughter and she thought it was "cool". The flowers can be sewn on denim jackets and hats or the seat of your jeans. CC also includes lacy shawls and stoles, pillow covers, and a crochted skirt. I am not too fond of crocheted items that hang-like skirts and purses-as they tend to grow longer and longer over time (stretch and sag), so I would advise not making them.

The book also includes household items such as a fruit bowl made from fabric strips, a crocheted rug and dish rags. In every case one must ask, when this item becomes dirty, how will I get it clean--but the authors don't provide any info on that aspect. I think all these things could be thrown in the washer, though it would depend on what you use as your basic fiber. Also, a good wash might make it unravel. Too often these books tell you how to make something but don't tell you how to care for it after you make it-this book does not explain how you would keep a item from stretching or unraveling in the washer--a painful experience after you spent hours making it.

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