Readable, passionate, but... if true, the latest financial crash would have seen another swift extension of market power. But does govt control or ownership of the banks, talk of aggressive new regulation or the 'end of capitalism' sound like capitalism making hay? Are we really seeing a retreat from govt or state activity in the face of recession?
On the contrary, this latest shock is widely described as a disaster for capitalism. The doctrine fails its first test. The former chairman of the Federal reserve - Alan Greenspan - talks about this shock as though it has fundamentally undermined the theoretical constructs of capitalism by showing the weakness of self interest. When the priests are becoming apostates, how can the shock ... Read More:
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I can't really weigh this book relative to others on the subject, because it's the first that I've read on this topic...
But what I wanted to add to the other reviews is that, if you're someone like me, who does not work/study economics or international development, I can recommend this book without hesitation. It's a fascinating read and it's accessible for any background of reader.
After reading you'll probably feel a sense of frustration at how much more could be done and how much of our current efforts may be misdirected. But this is an improvement on the sense of hopelessness I had prior to reading the book; that the truly poor nations will always be that way.
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For Prof. R.J. Shiller, the root of the subprime mortgage crisis in the US is a myth, the belief that real estate prices must strongly trend upward for demographic reasons.
He proves that the price of real estate, to the contrary, is trending lower. What went up are the quality and the dimension of the average individual houses. But what about `land'? Didn't Mark Twain recommend strongly: `Go for land. They've stopped producing it.'? R.J. Shiller remarks cleverly that only 2,6 % of US land is used for urbanization.
Another factor of the bubble was psychological: the human herd instinct. There was a social contagion of boom thinking.
A third, more specific, factor was the deliberate governmental policy to promote home-ownership as much as possible. This ... Read More:
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If you oppose conservation and clean energy, I wonder why you would. Typical concerns relate to when conservation and clean energy reduce economic growth or reduce profits for some special interest in the near term. Longer term, most people would agree that conservation and clean energy make sense.
Journalist and social activist Thomas L. Friedman could have written a much shorter book if he had simply started with the premise that it's a good idea to have conservation and clean energy. He spends most of the book providing arguments in favor of those approaches.
Those arguments are related to these propositions:
1. Rising carbon dioxide levels are either causing global warming and more violent weather . . . or will at some point fairly soon.
2. Rapid ... Read More:
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Perkins has probably made alot of money from this book as it is written in the first person narrative style of an autobiography, and as such draws the reader in and carries him/her along with the "storyline"
Even if some of the accounts in the book are exaggerated (and I have no reason to say that they are), there is so much personal and historical information in this account of Perkins life, that it could easily have been disproved were it not largely truthfull....to my knowledge, he has not been discredited yet, and so we must assume that it is largely true.
I thought this book was rather brilliant actually, and is ideal for anybody who has misgivings, but has not really ever thought about or faced up to the nature of big corporate exploitation of developing countries, ... Read More:
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How come $2.3 trillion dollars of Western aid has been spent in the last 50 years mostly in Africa, my native continent, and yet millions of children still die of preventable diseases like dysentery, cholera and malaria? Why have the vast amounts of aid money and Western good intentions not been able to lift Africa out of back-breaking poverty? William Easterly's argument, in this fascinating book, is that Western aid has failed because of the traditional approach that it has taken to tackling Third World poverty: planning and bureaucracy.
According to Mr Easterly, Western aid in the form on the Bretton Woods institutions (the World Bank and the IMF) is the most recent reincarnation of the White Man's Burden, a phrase which was immortalized by Kipling. The basic argument of the White Man's ... Read More:
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This is a very good for everyone! It explains basic tenetes of economics with examples. After reading this book you should be able to understand following topics at least:
Why a good government is necessary for good economy
Why poor countries remain poor
How Federal Bank/Bank of England etc. decides interest rate
What are inflation and deflation and how they affect our lives
Why government usually cajoles minority groups
How you pay stealth taxes
Why free trade actually helps everyone in long term
How corruption affects economy and well being of citizens
Why environmental groups don't always care for environments
Why sweatshops are good for all of us
Why a good economy should make everyone better off without making anyone worse off
When I am looking to learn about something and dont want to be blasted by information overload and jargon, I usually look to learn from someone who is an ordinary individual that just had a go and learnt as they went. And this author is one such individual, who learnt from experience, aquaintances and trial and error and general workshops. This book is very accessable from a lay persons perspective written in a friendly and coherent manner. Whats more, she seems to cover everything that is required to day trade including psychological attitude, risk v reward,trends, technical analysis, chartings and any thing else one could require for a good footing in day-trading. Good for the begineer too, but you would have to go slowely to absorb the information..
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I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.
But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.
But in the end I was convinced neither that the author's reading of the credit crunch was ... Read More:
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By its own admission, this book sets out to answer the problem, "Why is Africa poor?". The writer makes no apologies for his answer. It has little to do with any of the usual suspects- geography, slavery or colonialism. In the most part, the poverty of the continent can be traced to the greed or/and ineptness of its leaders. Pages of first hand evidence are laid out in support of this view- Mugabe's politics in Zimbabwe, Mbeki's passive attitude towards HIV/AIDS, Nyerere's policy of socialism. Bad governance has conspired to create an environment be-devilled by violent trbal conflicts, failing infrastructure and a strong dis-incentive to productivity.
Guest is adamant in his insistence that Africa's long term development hinges on its ability to grow its economy and until the proper policies are put in place by Africans ... Read More:
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