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Michael Lewis on 'Who is Government' and the Untold Story of Public Service

Bloomberg PodcastsMarch 28, 20251h 5min406 views
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The Genesis of 'Who is Government'

  • 💡 Michael Lewis's new book, 'Who is Government,' evolved from his previous work, 'The Fifth Risk,' which explored presidential transitions and government agencies.
  • 🎯 The initial idea was to highlight the often-overlooked, essential work of civil servants and government functions, moving beyond political opinions.
  • 🔑 Lewis was inspired by the rich, untold stories of individuals within government, leading him to collaborate with other writers for this project.

Uncovering Essential Government Work

  • 🚀 The book features stories like Christopher Mark, who solved the problem of coal mine roof collapses, saving lives through government-backed research and regulation.
  • 🔬 Mark's journey, from rebelling against his engineer father to applying similar principles underground, highlights the unexpected paths individuals take within public service.
  • 🧩 The narrative also delves into the complexities of government functions, such as the creation of the Consumer Price Index, showcasing the expertise involved in national metrics.

The Peltzman Effect and Unintended Consequences

  • ⚠️ The 'Peltzman Effect' is discussed, illustrating how safety innovations (like seatbelts or roof bolts) can lead to increased risk-taking, negating some of the safety benefits.
  • 📈 This effect is applied to investing, where innovations like ETFs and free trading can lead to more reckless behavior, rather than just safer, more efficient investing.
  • 📊 The book suggests that while financial innovations make trading easier, they can encourage worst instincts, leading to similar outcomes despite advancements.

Diverse Stories of Public Service

  • 🌟 The book includes contributions from various writers, exploring diverse areas like NASA's search for extraterrestrial life and the IRS's cybercrime division.
  • 🔍 Geraldine Brooks's chapter on the IRS cybercrime unit highlights individuals saving billions in fraud prevention while earning modest salaries, contrasting with high private sector pay.
  • 🇺🇸 The stories collectively aim to showcase the importance and often-unrecognized value of government work, transcending political divides and demonstrating a commitment to mission over money.

The Value of Mission and Meaningful Work

  • ✨ Lewis emphasizes that the individuals featured in the book are driven by a sense of mission, finding fulfillment in their work rather than solely pursuing financial gain.
  • 💖 These public servants have discovered a path to a meaningful life, prioritizing contribution and purpose over wealth accumulation.
  • 💬 The book challenges the notion that government work is inherently wasteful, presenting compelling narratives of individuals making significant, often life-saving, contributions.

Navigating Politics and Perception

  • 🗣️ Lewis acknowledges the challenge of politicization, where government work is often viewed through partisan lenses, leading to dismissal of stories that don't fit preconceived notions.
  • 🛡️ He aims to present the truth of these stories, encouraging readers to look beyond their prejudices and acknowledge the reality of the contributions made by public servants.
  • 💡 The book's timeliness is highlighted, emerging during a period of deconstruction of government, aiming to offer a counter-narrative grounded in the essential work being done.

The Writing Process and Future Interests

  • ✍️ Lewis discusses his writing routine, shifting from nocturnal to morning writing due to family, and his increasing focus on the character of his subjects.
  • 🧭 He notes that the character often creates the story, a shift from earlier works where the idea might have come first.
  • 🔮 Future interests include the cultural impact of figures like Elon Musk, the commercialization of youth and college sports, and exploring the experience of grief.
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What’s Discussed

Public ServiceGovernment AgenciesCivil ServantsMichael LewisThe Fifth RiskCoal Mine SafetyPeltzman EffectInvestingCybercrimeIRSNASAConsumer Price IndexMission-Driven WorkMeaningful LifePoliticization
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