I read her book a few years ago (before having children) and really loved it at the time. I was on the Cont. Concept email list for awile, at two different times (right after reading the book, and again while pregnant).
It has been awhile since I've read the book, but here are my current thoughts...
I think she brings up some very important issues and things to think about when raising children. When the book was first published (1975ish) the ideas were revolutionary in Western Culture. HOwever, I think she exagerated some things to make a point, and I have heard several people mention that some of her observations about the tribe she studied have not been noticed by other anthropoligists studying the same tribe. And, she has never had children of her own.
I think that it is important to "wear" your baby as much as possible, to breastfeed on cue, and to co-sleep. One of the things that I disagree with is what she said about babies/children and safety. Part of my issues with that are because the physical dangers in our society are not ones that a baby has been evolutionarily programmed to react to. Also, I think it takes a few years before self-preservation measures really kick in.
I find it very difficult to do housework with my baby in her sling. This was a big disillusionment to me when my DD was born - I expected (from CC) to just put her in the sling and do everything I could do before...not so. My dd was only happy in the sling if I was very actively moving - most American housework is not very active (standing to wash dishes, for example). Also it is hard to reach around the sling for housework.
The last "main" thing about CC that I don't think works well in Western culture is the idea of being non-child centered. With just myself and DD at home all day there is not enough stimulation to not focus on and talk to DD. In a tribal culture there are many adults working and speaking to each other that provide the babies with the kind of stimulation they need.
I still think it is a very good book, and has a lot of worthwhile information - a definite eye-opener for someone steeped in traditonal Western/American parenting. I just think that it needs to be taken with a grain of salt, and adapted to what works in our society.
A book that I have recently read and think is better than TCC is
Our Babies, Ourselves . I can't remember the author. It brings up many similiar issues as TCC, but examines Many cultures parenting practices, AND WHY different cultures have certain practices. I HIGHLY recommend reading this, especially if you liked Continuum.
Whew!

I didn't realize I had so much to say. Hope it all makes sense - I'm writing in kind of a hurry

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