Reviews (2)

Lessons for Policy Makers
In this book, Danny Rodrik offers some valuable guidance for policy-makers. They should focus on the fundamentals of economic growth - investment, macro-economic stability, human resources and good governance - and not let international economic integration dominate their thinking. The potential benefits of openness will only be realised when "complementary policies and institutions are in place domestically".

An important result from his analysis is that a strong, participatory, democracy is good for growth. This is very much in line with Barro's "Determinants of Economic Growth" (1998).The resoning is that a country with a strong democracy will be better at resolving the social conflicts emerging from external economic shocks, and therefore benefit from greater macroeconomic stability. In order to increase the effectiveness of dealing with shocks, the channels to which non-elites can make themselves heard, and participate, in policy making needs to be improved. Otherwise dissatisfaction will lead to social unrest.To play the role of honest broker, the state needs to perceived as competent and free of corruption.

Two policy areas are identified as being central to achieving long-term growth and making openness work: A domestic investment strategy; the strengthening of domestic institutions of conflict management.

Many of his findings offer support for much of current policy thinking on development. The importance of political freedom, security of person, and the need for a reasonable degree of macroeconomic stability is widely recognised. Good governance has moved firmly up the list of priorities. Also, attempts are being made to try and increase the widespread "ownership" of reforms through e.g. the Comprehensive Development Framework of the World Bank.

However, there are several important areas where Rodrik's analysis requires further consideration:

· Developing countries, in devising a domestic investment strategy, are better advised to look at ways of reducing risk and improving their credibility in the eyes of domestic and foreign investors, rather than following Rodrik's suggestion to improve investment returns through e.g. investment subsidies. (see Moran (1998) "Foreign Direct Investment and Development").

· The strong link between good governance and openness is very important and needs greater attention. Red tape and corruption are strongly correlated. Trade restrictions nearly always introduce distortions, caused by "rent seeking" activities, and create vested interest groups.

· As he suggests, all countries are able to improve their "fundamentals". But it is also true that different regions are likely to benefit from integration - in terms of both growth and poverty reduction - to very different extents.

· Rodrik suggests that Africa is not "different". He is right in so far as domestic factors - stability and security - are central to its success. But sub Saharan Africa is different . It faces great difficulties in building institutions of conflict management and has a legacy of being the most trade and capital hostile region.

· As is always the case in the "never ending question" of empirical tests of the links between trade and growth, the interpretation of the results of his work is very much open to question. He is far from decisively refuting this link.

Taking some of these factors into account suggests that Rodrik's somewhat sanguine attitude to inward-looking developm t is ill advised. Also, the potential role for international governance in helping to overcome several of and the problems facing poorer countries - low credib ity, limited regulatory resources, small markets -becomes more important. But these rules will help in so far as they encourage certainty, transparency and non-discrimination, rather than in offering flexibility. However, as Rodrik states, " these rules of the internation economy must be flexible in order to allow developing countries to develop their own "styles of capitalism"".

Insights into making 'globalization'work for poor countries
Like clothes, economic development policies are subject to the trends of fashion. This book examines the current development fad, "openness," and critiques it as a flawed economic model when applied simplistically to developing countries. The author, Dani Rodrik, professor of international political economy at Harvard, is no enemy of an open world economy, but he argues that its boosters greatly oversell its virtues and neglect its vices. He contends that too many governments and their policy advisors are fixated on openness --the unrestricted flow of goods, services, and capital across borders--as an end in itself. The dangers to this approach, he warns, are that: 1) openness alone is an unreliable mechanism to generate and sustain economic growth; 2) it tends to widen income and wealth inequalities within both developed and developing countries; and 3) it exposes countries to external shocks that can trigger domestic conflicts and political upheavals.

A developing country can gain much from openness to trade and investment, he agrees, but it must also do much in actively "making openness work"--the theme of the book. The minuses of openness may outweigh the pluses if a country fails to develop its own internal "complementary policies and institutions." What kind of policies and institutions? He cites these as among the most important: "participatory institutions, civil and political liberties, free labor unions, non-corrupt bureaucracies, high-quality independent judiciaries, and mechanisms of social insurance such as social safety nets." He offers specific evidence on how such institutions are valuable to developing countries for coping with turbulence in the world economy and for countering the widening of inequality that openness often brings. For most economists Rodrik is heretical because he debunks the "free market religion" and derides "knee-jerk globalizers," though only in passing. This is far from a diatribe against globalization. Instead, the book presents a detailed factual case for openness as "part of a development strategy," rather than a substitute for one. His forceful advice to governments and policy advisers: "Stop thinking of international economic integration as an end itself. Developing nations have to engage the world economy on their own terms, not on terms set by global markets or multilateral institutions." A valuable chapter of the book is one titled "Is Africa Is Different?" Rodrik answers No; openness can work its wonders there but (as anywhere) definitely not if applied simplistically.

Rodrik slips into jargon from time to time, but you can still benefit from reading his book even if you don't have a degree in economics.

--Robert A. Senser, editor of the Website Human Rights for Workers ... Read more

Book Description

Can Russia ever become a normal, free-market, democratic society? Why have so many reforms failed since the Soviet Union’s collapse? In this highly-original work, Fiona Hill and Clifford Gaddy argue that Russia’s geography, history, and monumental mistakes perpetrated by Soviet planners have locked it into a dead-end path to economic ruin.

Shattering a number of myths that have long persisted in the West and in Russia, The Siberian Curse explains why Russia’s greatest assets—its gigantic size and Siberia’s natural resources—are now the source of one of its greatest weaknesses. For seventy years, driven by ideological zeal and the imperative to colonize and industrialize its vast frontiers, communist planners forced people to live in Siberia. They did this in true totalitarian fashion by using the GULAG prison system and slave labor to build huge factories and million-person cities to support them.

Today, tens of millions of people and thousands of large-scale industrial enterprises languish in the cold and distant places communist planners put them—not where market forces or free choice would have placed them. Russian leaders still believe that an industrialized Siberia is the key to Russia’s prosperity. As a result, the country is burdened by the ever-increasing costs of subsidizing economic activity in some of the most forbidding places on the planet. Russia pays a steep price for continuing this folly—it wastes the very resources it needs to recover from the ravages of communism.

Hill and Gaddy contend that Russia’s future prosperity requires that it finally throw off the shackles of its Soviet past by shrinking Siberia’s cities. Only by facilitating the relocation of population to western Russia, closer to Europe and its markets, can Russia achieve sustainable economic growth.

Unfortunately for Russia, there is no historical precedent for shrinking cities on the scale that will be required. Downsizing Siberia will be a costly and wrenching process. But there is no alternative. Russia cannot afford to keep the cities left by communist planners out in the cold. ... Read more

Reviews (4)

It's as though the US tried to re-create Cleveland in Alaska
The authors' main theme is that the Soviets' determination to create cities in Siberia has created an albatross that will hold back Russian economic development forever. Most of the cities of Siberia have no economic justification for existence, and by any standard, should not have been created in the first place. Even where there are large mineral or oil deposits, the cost of maintaining huge cities in the Arctic outweighs any possible profit. Getting these people to move to warmer parts of Russia would be beneficial all round, but is difficult due to housing shortages in the more desirable parts of Russia. The authors argue that Russians need to abandon their notion that settlement of Siberia is the destiny of the Russian people and will make Russia an economic powerhouse.

If there is a flaw here, it is that the authors keep hammering away at their main point, creating a repetitive tone toward the end of the book. Throughout the book there are short articles from various periodicals in gray boxes, which serve to illustrate the authors' theoretical arguments.

Never Trust A Real-Estate Agent
by John Dolan:

Every year or so, another silly theory comes into vogue among Western "Russia hands," that estimable body of scientific prognosticators not one of whom managed to predict the collapse of the Soviet Union until three or four years after it had occurred.
...
Think of all those nineteenth-century editorial cartoons sneering at Seward for buying Alaska from the Russians. That too was worthless, frozen land, fit only for bears. Anybody want to sell it back at, say, 100 times the price? Didn't think so.
...
Their arguments are often the most naive sort of social-science bluff, as when they use something called "Zipf's Law" to demonstrate that Russia's cities are of the wrong sizes and in the wrong place. I'm not familiar with the work of the unluckily-named Zipf, but if anyone out there knows him, please tell him for me that if Hill and Gaddy's paraphrase is an accurate summary of his theory, he's an ass.
...
It's somewhat surprising to see an argument so totally illogical praised as "highly original" and "a welcome and important contribution" to Russian studies--until you see who's praising it.
...
Sachs is, of course, the paradigm of the incompetent, sleazy Western consultant who did so much to destroy Russia in the 90s. Pipes is a mad reactionary who has been shrilly whitewashing serfdom and vilifying the Soviets for what seems like centuries. And Brzezinski, Jimmy Carter's East Bloc specialist, is a Russophobe from way, way back, a man who makes Pavel Felgenhauer look like a Rodina deputy.
...
And it's very easy to see why The Siberian Curse serves their ends. By blaming bad Soviet planners for Russia's fall, this book helps get a sleazebag like Sachs get off the hook, confirms Pipes' one endlessly repeated argument that Soviet = evil, and endorses Brzezinski's conviction that the further east you go, the more Russian and evil everything becomes.
...
Another blurb-writer, Niall Ferguson of Oxford, states with naive clarity the real reason this book is doing well: "Those still wondering why market reforms have achieved only limited success in Russia since the collapse of Communism cannot afford to overlook this timely and original book."
...
In other words: Thank you for your book/ It lets us off the hook. The West cannot be blamed for the "limited success" of the "market reforms" carried out by Sachs and accomplices. Turns out the Soviets did it after all-from beyond the grave, as it were.

For more, exile.ru

The Cost of Cold
Everyone knows that Siberia is a very cold place. This book explains how the coldness of Siberia presents one of the greatest impediments to future development of the Russian economy. Under the best of circumstances, developing strategies for dealing with a large, unbearably cold place like Siberia presents tremendous challenges. The Soviets made the situation much worse by ignoring the cost of the cold. With an ample supply of forced labor provided by the GULAG prison system and a total disregard for the profitability of industrial endeavors, the Soviets put people and resources in places that made no sense economically. It is tempting to think of Siberia as a treasure chest containing vast quantities of natural resources just waiting to be exploited. Certainly the effort required to access these resources now represents an investment that will yield great rewards in the future. Hill and Gaddy expose the fallacy of this point of view using quantitative economic methods to support their detailed arguments. The cost of supporting people and factories in extremely cold places currently outweighs any benefit to the Russian economy. This book is written in a style that is both scholarly and accessible to the average reader. Not only does the book provide insight into why the Soviet economy failed, it provides clear-cut policy recommendations for economically sound ways that Russia can deal with the Siberian challenge now and in the future. According to economic considerations, Siberia is now enormously over populated and the people currently living there should be encouraged to move to warmer places. The treasures of Siberia should be kept in cold storage until technologies are developed to extract these resources profitably, without damaging the Siberian ecology.

A Challenge For Russia
This thought provoking book proposes a challenge to the Russian people. The curse of Siberia is its severe cold and the vast distances between towns and cities. Although there are large valuable resources, the cost of developing these resources make them almost unavailable. The book is well documented and rings of truth.
While reading I could not help, but hope that somr Russian officials read it and try to sell the Russian government on its thesis. It is a readable book and a must read for those interested in Russian history and how much geography has played a major role in its development. I highly recommend it and commend the authors for their contribution to world understanding. Taylor Neely, Carson City, Nevada ... Read more

Book Description

Through a critique of the economic, technological, political, and ethical theories that are the basis for current policy, this book shows that sustainable development proposals are at least incomplete or impractical and at worst dangerously misleading.

The concept of sustainable development presents a problem for theorists and policy makers because it cannot be objectively defined and subjective understandings vary widely. For the capitalist, sustainable development is a problem of production efficiency and technological innovation; for the environmentalist, a more appropriate ethic is a necessity; and for the developing country policy maker, a more equitable distribution of power over resources is imperative.

Harrison shows how sustainable development can be constructed from policy principles derived from ongoing adaptations to changes in values, beliefs, and scientific knowledge, and applied in both developed and developing nations and communities large and small. ... Read more

Book Description

Around the world, a revolution is occurring in finance for low-income people. The microfinance revolution is delivering financial services to the economically active poor on a large scale through competing, financially self-sufficient institutions. In a few countries this has already happened; in others it is under way. The emerging microfinance industry has profound implications for social and economic development. For the first time in history, capital is well on its way to being democratized.

The Microfinance Revolution is aimed at a diverse readership--economists, bankers, policymakers, donors, and social scientists; microfinance practitioners and specialists in local finance and rural and urban development; and members of the general public interested in development. The first volume of what will be a three-volume series, this book focuses on the shift from government- and donor-subsidized credit systems to self-sufficient microfinance institutions providing voluntary savings and credit services.

Forthcoming volumes in this series include:
The Microfinance Revolution: Lessons from Indonesia, ISBN 0-8213-4953-8
The Microfinance Revolution: The Emerging Industry, ISBN 0-8213-4954-6 ... Read more

Reviews (2)

Technology, Growth and Development
This is an encyclopedic volume on the role of technology in economic growth in both advanced and poorer countries. The extraordinary scope of the volume includes new insights on the role of the microprocessor and molecular biology in economic growth. This book will be the starting point for all readers interested in the role of technology in the growth process.

Everything you ever wanted to know about technology
This great book contains everything you ever wanted to know about the interplay between technology, economic growth, development, and the environment.

The book stands strong, treating both theory as well as empirical case studies comprehensively. It's full treatment of theory and exhaustive bibliography make the book THE introductory text book for any university curriculum. Extremely valuable cases studies - that will appeal also to the practitioner - are provided for agricultural innovations, biotechnologies, semiconductors, heat and power, and the chemical industry. Finally, the book blends in nicely also chapters on technology, differences in national systems of innovations and in the international diffusion of technology, as well as sustainable development issues.

In short: a reference book, well written and here to last. Thanks Vernon! ... Read more

Book Description

The World Development Report 2004 investigates how countries can accelerate progress towards the Millennium Development Goals (MDGs) by making services work for poor people. Success in reaching the MDGs will depend not just on faster economic growth and the flow of sources, but on our ability to translate those resources into basic services, especially in health, education, water, and sanitation. Too often, the delivery of services falls far short of what could be achieved, due to issues such as weak incentives for performance, corruption, imperfect monitoring, and administrative logjams. Some countries have addressed the problem by involving poor people in service delivery; the results have been impressive. Giving parents input into their children's education, patients a say over hospital management, and making agency budgets transparent all contribute to improving outcomes in human development.Celebrating the successful innovations--while taking a hard look at some of the failures--this Report offers guidance to policymakers, donors, and citizens on improving the delivery of basic services. It serves to deepen understanding and highlight the importance of empowering and investing in poor people. ... Read more

Reviews (2)

Focus on the problem.
Regardless of your political views, opinions about globalization, or general predisposition to the World Bank, the WDR 2004 is an essential publication addressing the issues of poverty and equity in health, education, and socioeconomic terms. Not only are the issues of equity being raised on an international level but intranationally as well. The WDR 2004 takes on the issues and problems that are increasing the disparity between the haves and have-nots within a given country. Without prejudice or preference, this report discusses the failures of institutions, national and multinational, in making the necessary strides to address poverty and the plight of the poor. This report is one of the most comprehensive resources available right now for understanding and responding to the issues of provision and access for the poor to proper healthcare, education, sanitation, clean water and electricity.

Classic Doublespeak
MAKING POOR PEOPLE WORK FOR (LOUSY) SERVICES: How the World Bank Impoverishes Third World Countries would be a more accurate title. For balance, see 50 Years Is Enough: The Case Against the World Bank and the International Monetary Fund, by Kevin Danaher, and Masters of Illusion the World Bank and the Poverty of Nations, by Catherine Caufield. Let's not forget, some 40,000 children die every day from hunger or hunger-related diseases - all in countries that have been under the thumb of the World Bank for years. Enough is enough. This neocolonial institution must go. Only then will coffee plantations and aquaculture farms again grow food for the people who actually need it. ... Read more

Book Description

World Development Indicators, the World Bank's respected statistical publication presents the most current and accurate information on global development on both a national level and aggregated globally. This information allows readers to monitor the progress made toward meeting the goals endorsed by the United Nations and its member countries, the World Bank, and a host of partner organizations in September 2001 in their Millennium Development Goals. The print edition of World Development Indicators 2005 allows you to consult over 80 tables and over 800 indicators for 152 economies and 14 country groups, as well as basic indicators for a further 55 economies. There are key indicators for the latest year available, important regional data, and income group analysis. The report contains six thematic presentations of analytical commentary covering: World View, People, Environment, Economy, States and Markets, and Global Links.

The CD-ROM editions contain 43 years of time series data for more than 200 countries from 1960-2003, single-year observations, and spreadsheets on many topics. It contains more than 1,000 country tables and the text from the World Development Indicators 2005 print edition and the World Bank Atlas (36th edition). The Windows® based format permits users to search for and retrieve data in spreadsheet form, create maps and charts, and fully download them into other popular software programs for study or presentation purposes. ... Read more

Amazon.com

"In China, I feel the explosive combination of forces aligning to create the kind of change that alters the course of history," writes David Sheff in the introduction to China Dawn, his book on the entrepreneurs who are trying to spark a social transformation and make a mint as they bring the latest information technology to the planet's most populous country. The idealistic heroes of this story are Bo Feng and Edward Tian, both friends of the author. Feng is a Marin County busboy who becomes one of China's top venture capitalists; Tian is the cofounder of AsiaInfo, the first private Chinese firm to go public in the West. Like so many others, Feng and Tian were deeply affected by the Tiananmen Square massacre in 1989, and they believe the Internet can set their country on an irreversible course toward freedom. At bottom, though, China Dawn is an engaging business book that chronicles the "unlikely group of revolutionaries" who hope to become the Bill Gates and Andy Groves of their country. It is difficult to know whether they will succeed, but hard not to wish them luck. --John Miller ... Read more

Reviews (21)

A riveting story, Life changing book
I ordered this book by reading some kind of review but never had time to read it in 4 months once I got it. On the back trip to China a month ago, I finished it non-stop in the flight. It is one of the best I have read about what's happening in the technology in China in a long time. I am a Chinese and working in the IT field, have the similar experiences with those people in the book. Enjoy reading.

One of the best
I ordered this book by reading some kind of review but never had time to read it in 4 months once I got it. On the back trip to China a month ago, I finished it non-stop in the flight. It is one of the best I have read about what's happening in the technology in China in a long time. I am a Chinese and working in the IT field, have the similar experiences with those people in the book. Enjoy reading.

This book is a purely a domcom story
The characters in this book are not what the book described since the author is the personal friend of the characters. This is purely free publicity for them. Search the web and you will find other comments about the auther. The latest story is the VCs have splited since they can't really get along, and the politics in the VC firm was unbearable with just a few people. Most of the portfolio companies are in bad shape. The VC's website has not been updated since 2001, wonder why. If you really want to know about IT in China, then you should learn from other sources. Most of the IT companies in China are not making money. This book only gives you a picture of the early dotcom years and we all know what happened. Don't judge the book by the cover or the content. It is only a perspective from one person.

Awesome
This book was awesome, I highly recommend it as a great introductory book into the business revolution in China, however it does not go too much in depth into the complexities of China's evolution in the past 20 years. But Sheff tells a great story and it is definitly a page turner!

Astounding
One of the best business books I have ever read. It is an inspiring story, written with insight and passion. I'm ready to pack up and head to China. ... Read more

Book Description

Extensively revised to reflect the new directions in development thought and policy, this new edition of a classic text examines what has been learned theoretically and empirically about agricultural and rural economic development since the 1950s.

With 24 of the 35 chapters completely new, the book takes into account recent developments in international agricultural development, especially as these affected the role of the state, markets, and other institutions in development. The authors address three basic questions about agricultural development in low- and middle-income countries: What are the strategic roles of agriculture in national development strategies? How can the agrarian transformation be accelerated? How can rural economic development be promoted to generate jobs and reduce poverty in rural areas? In addressing these questions, the authors deal with topics such as market failures, food insecurity, rural poverty, environmental degradation, income and asset inequality, fiscally sustainable organizations, the changing roles of the public and private sector in research, and input and output marketing systems. Four case studies (China, Indonesia, Colombia, and Sub-Saharan Africa) examine how different countries struggle with these issues as they restructure their basic economic institutions.

Praise for previous editions:

"A welcome addition to the literature on agricultural development... with a wide coverage of its major considerations." --Canadian Journal of Development Studies

"Presents the views of leading scholars on major theoretical and policy issues concerning agriculture's role in the Third World economies." --Abstracts of Development Studies

Book Description

The proliferation of regional trade agreements is fundamentally altering the world trade landscape. The number of agreements in force surpasses 200 and has risen eight-fold in two decades. Today as much as 40 percent of global trade takes place among countries that have some form of reciprocal regional trade agreement.

Global Economic Prospects 2005: Trade, Regionalism, and Development addresses two questions:

** What are the characteristics of agreements that most promote—or hinder—development for member countries?
** Does the proliferation of agreements pose risks to the multilateral trading system, and if so, how can these risks be managed?

The report argues that agreements leading to open regionalism—that is, deeper integration of trade as a result of low external tariffs, increased services competition, and efforts to reduce cross-border and customs delays costs—are effective as part of a larger trade strategy to promote growth. Such regional agreements can complement a strategy that, on the one hand, includes autonomous liberalization to promote productivity gains and, on the other hand, leverages domestic reforms to enhance market access.

Although regional agreements can prove beneficial to member countries, they can have adverse effects on excluded countries. Lowering of border barriers around the world is crucial to minimizing these effects. The completion of the Doha Development Agenda by all countries in the World Trade Organization will reduce the risk of trade diversion associated with regional agreements and will decrease trade losses of countries excluded from agreements. ... Read more

Book Description

Book Description

The new edition of this text has been fully updated throughout and features expanded sections on issues such as global warming, biotechnology, and energy. Global Issuesis an introduction to the nature and background of some of the central issues - economic, social, political, environmental - of modern times. It will provide the basis for a stimulating course for beginning students in departments of geography, politics, sociology and environmental science. The book opens with an overview of the complex political, cultural and natural origins of world problems and of why some nations are rich and some are poor. The author then discusses in depth such issues as population growth, hunger, the extinction of species, global warming and climatic change, ozone depletion, energy conservation, deforestation, and the misuse of technology.The book covers a range of perspectives on a diversity of societies, developed and developing. The author writes clearly, stressing the need, by argument and by exemplification, for informed, critical thinking. Students are shown both the decisions that have been made - and the resulting failures and successes - and the choices that must now be faced if crucial problems are to be solved.The book is extensively illustrated with diagrams and photographs, contains guides to further reading, media, and internetresources, and includes suggestions for discussion and studying the material. ... Read more

Reviews (1)

Excellent one volume intro to how all the issues connect.
I used this book as text for high school "Global Studies" courses, and thought it was terrific in its understandable but not watered down treatment of the big issues -- war, hunger, women's rights,population, environment, etc.Shows how these issues relate to each other.It was a stretch for 9th graders, but would be perfect for high schoolseniors or college intro. ... Read more

Book Description

The culmination of a five-year project by the International Forum on Globalization (IFG), this book presents an inspiring plan for moving toward more sustainable, humanistic models of economic prosperity with an emphasis on citizen democracies, local self-sufficiency, and ecological health. Areas of discussion include the ten core requirements for democratic societies as well as alternative systems of energy, agriculture, and manufacturing. Written by a premier group of 18 thinkers from around the world and edited by best-selling authors John Cavanagh and Jerry Mander, this revised and expanded edition represents the official consensus of the living democracy movement. Delving into the most compelling alternatives to globalization thus far, it features a chart on the effects of globalization and three entirely new chapters on the global balance of power, the media, and what ordinary people can do about globalization. ... Read more

Book Description

Can one explain the power of global capitalism without attributing to capital a logic and coherence it does not have? Can one account for the powers of techno-science in terms that do not merely reproduce its own understanding of the world? Rule of Experts examines these questions through a series of interrelated essays focused on Egypt in the twentieth century. These explore the way malaria, sugar cane, war, and nationalism interacted to produce the techno-politics of the modern Egyptian state; the forms of debt, discipline, and violence that founded the institution of private property; the methods of measurement, circulation, and exchange that produced the novel idea of a national "economy," yet made its accurate representation impossible; the stereotypes and plagiarisms that created the scholarly image of the Egyptian peasant; and the interaction of social logics, horticultural imperatives, powers of desire, and political forces that turned programs of economic reform in unanticipated directions. Mitchell is a widely known political theorist and one of the most innovative writers on the Middle East. He provides a rich examination of the forms of reason, power, and expertise that characterize contemporary politics. Together, these intellectually provocative essays will challenge a broad spectrum of readers to think harder, more critically, and more politically about history, power, and theory. 1 b/w photograph, 5 line illustrations ... Read more

Reviews (2)

Mitchell continues to innovate
Timothy Mitchell writes consistently on the Middle East in ways that challenge the presupposition of field. This book is a collection and revision of many studies previously published, but they are integrated into a whole to provide insights into new ways to consider. The conclusions thereof are wide-ranging, highlighting the falsification and fallacies of behind the reasoned application of universalized logics capital and techno-politics to Egyptian particularities.

Mitchell's most powerful and provocative insights occur in his essays on the history of peasant politics in instances of malaria epidemics, colonial agricultural policies, and violence and the establishment of private property and land 'reforms'. This work likely can bring its insights to bear are on any research currently being done on the Middle East.

Thoughtful and envigorating
Mitchell's "Colonising Egypt" transformed my experience as a student in Egypt, so I was looking forward to this work from one of the best minds in in Middle East Studies. "Rule of Experts: Egypt, Techno-Politics, Modernity" does not disappoint. Mitchell's work is self-reflective, de-orientalized, thought-provoking scholarship. Mitchell not only connects contemporary political and postmodern theory to his Egyptian primary sources, but he extends theory in new directions and unique interdisiplinary ways. Mitchell empowers the reader to think critically about the negative influences of power and hegemonic discourse on policy and scholarship to create distorted representations and self-fulfilling, self-replicating prophecies. We need more writers like Mitchell to question and challenge the current theory and expertise that has so much currency and momentum in the echo chambers of the Washington Consensus.

The essays cover a wide range of 20th-century topics from malaria to mapmaking, from the manipulated image of the peasant to techno-political nonsense in current development praxis. I have long believed that developmental applications of modern economic theory are very much a "faith-based" process, and Mitchell has put these thoughts in engaging prose. In addition, I was particularly impressed by the chapter on violence, which helped me frame my own thinking on violence, for example, in Syria, Algeria, or Tunisia, places where not so hidden violence functions as an instrument of power and social control. Mitchell writes eloquently on issues that have troubled most of those who work or live or travel in the developing world and who have not found the right language to express their reservations about the descriptive and prescriptive power of current scholarship and techno-political expertise. ... Read more

Book Description

From the Pulitzer Prize-winning journalists and authors of China Wakes comes this insightful and comprehensive look at Asia on the rise.

The recent economic crisis in Asia heaped devastation upon millions. Yet Nicholas Kristof and Sheryl WuDunn argue that it was the best thing that could have happened to Asia. It destroyed the cronyism, protectionism, and government regulation that had been crippling Asian business for decades, and it left in its wake a vast region of resilient and determined millions poised to wrest economic, diplomatic and military power from the West. Thunder from the East is a riveting look at a complex region, a fascinating panoply of compelling characters, and a prophetic analysis from arguably the West's most informed and intelligent writers on Asia.
... Read more

Reviews (15)

Excellent warts-and-all view of a changing Asia
The authors write of their experiences and observations in a number of Asian countries. Their story is greatly helped by conversations with people from all walks of life, from world leaders to the desperately poor. Their story is very well told, and is consistent with my experiences in Asia.

Anyone who aspiring to "think globally and act locally" needs to read this book. Opponents of globalization are especially advised to read this book -- the world looks a lot different on the ground in parts of Asia than it does from the comfort of a North American or Western European armchair. High-minded ideals can cause a lot of real damage to the poorest of the poor, to those in most need of help.

An Excellent Survey of Asia
Mr. Kristoff and Ms. WuDunn have written a very interesting and engaging book about one of the most important areas of the world. The strength and weakness of the book derives from the authors' close contact with average people in the areas the write about. This puts a wonderfully human face on an area that for too many Americans becomes a faceless mass of statistics. But sometimes I think the authors are too quick to jump from anecdote to larger societal truth.

I found some of the early history of the region especially fascinating having never been exposed to that before. Like the authors, I spent time afterward thinking about what might have been had China not destroyed its 15th century navy. It is a useful counterpoint to the common argument that the triumph of the West over the past several centuries was inevitable.

The book also provides many good insights into Asia's potential for the future. I was also impressed that the authors seemed very cognizant of the limits of their predictive powers and often pointed the wide variety of things that could happen to change their overall outlook. I would recommend this book for all but the most serious scholars of Asia.

The sequel is never as good as the original
While I didn't find this book as edifying as "China Wakes," it's still a good read. Its greatest strength is the vignette format, with anecdotes, history, and statistics from various countries in the region and chapters divided by topic. The authors admit, rightfully, that with the breadth of territory they cover in this book the treatment is bound to be superficial to some degree, but it makes for a much more engaging read for someone interested in Asian studies in a broad sense, rather than the usual academic "fine-toothed-comb" treatment of a narrow topic. Their writing style is nonacademic, which is both highly engaging and very refreshing, and helps this book to appeal to a wide audience, not just ivory-tower types.

There are a few problems with the book, which can take something away from its enjoyability. First, there is a tremendous amount of editorializing. The authors may have felt this was necessary to tie together the disjunctive stories and histories they discuss, but I have a firm belief that the intelligence of the reader and the topic-as-chapter format would have made a much better tie than so much author opinion. That excessive editorializing and the overuse of "the upshot is" to explain things to the reader detracts from the maturity of the writing style. Additionally, the writers obviously consider themselves much more well-versed in Asia-related topics than most Americans. This is fine, but at certain points in the book the reader can't help but think that the authors mistake Americans for idiots. They assert, for example, that most people think of pastoral rice-paddy scenes, and not urban overcrowding, when they think of Asia. Who thinks that? I don't know anyone who doesn't tie overpopulation with India and China! Another example is when the authors assert (more than once) that people perceive Indonesia as stable. Who are these people? Most people I know, in wake of the East Timor situation (not the Bali bombing, since this book was published in '01) and religious/ethnic rioting in that country think of Indonesia as anything BUT stable. These weaknesses combine to give the reader a sense of being pandered to at times--a certain attitude of condescension, if you will.

Overall, this is a good book. It's great for people not well-versed in Asian studies, because it's broad enough to give people an easy-to-read introduction to the region (with both strengths and weaknesses presented). It's also good, however, for people who ARE heavily involved in Asian studies readings, since most of us in academia don't get many chances like this to venture out of our chosen country/culture of study and view the region as a larger whole.

Slightly Over-optimistic
I think the authors have gone overboard in their rosy opinions. But I do recommend this book highly because they did their homework by interviewing lots of people on the ground in China. Their resumes are also sterling: Kristof is a NY Times editor, Harvard grad with a first-class honors in Law from Oxford, where he studied as a Rhodes Scholar, and his wife, the co-author, is a Harvard MBA who shared a Pulitzer Prize with him for their China reporting. Some credentials.

Couldn't make it through Nicholas's fear mongering
I gave up in chapter six titled "Brutal Drive" after Nicholas's fear mongering left me with too many doubts about the genuineness of his writing. It seemed that Nicholas had a "message" to deliver and I lost confidence that I'd get any information unless it supported his message. The straw that broke the camel's back was his statement that Asia rose from pain and America rose from great optimism and a belief in manifest destiny. This seems to ignore over 100 years of slavery in America, the great depression, indentured servitude, and the list could go on. Also in the book he has numerous examples of how Asians are making sacrifices in the hopes of achieving a better life, sounds like optimism to me, and I'd be suprised if there wern't numerous similar asians over the last 1,000 years. I know he's well aware of the chinese diaspora.

But even the first 5 chapters do whet the appetite for more knowledge of asia. Do you know who Zheng He is? So in that respect I think the authors achieved one purpose of the book. I for one decided to get a copy of "CHINA: A New History" by John King Fairbank and Merle Goldman. So if you're interested enough to read through reviews of this book, then you'd probably do better to look elsewhere. ... Read more

Book Description

The way in which regulation works is a key concern of industries, consumers, citizens, and governments alike. Understanding Regulation takes the reader through the central issues of regulation and discusses these from a number of disciplinary perspectives. The fundamental strategies, institutions, and explanations of regulation are reviewed and the means of identifying 'good' regulation are outlined. ... Read more

Book Description

Using econometric analysis, the author examines factors that determine patterns of aid giving including aggregate aid flows, aid from multilateral organisations and aid from bilateral donors such as Germany, Japan, the US and Arabia. ... Read more

Book Description

Book Description

Wealth inequity, corporate welfare, and industrial pollution are the symptoms of our sickened economy, Marjorie Kelly suggests. The underlying illness is shareholder primacy. In The Divine Right of Capital, she shows that the corporate drive to maximize shareholder profits at any cost is not only out of step with democratic and free-market principles, but is detrimental to the long-term health of individual companies and the economy as a whole. Kelly, the cofounder and editor of the national journal Business Ethics, offers a far-reaching solution to rebuild corporations in a way that serves all. The Divine Right of Capital is a radical critique of the corporate economy, newly updated with information on Enron and other business scandals. ... Read more

Reviews (19)

Highly Recommended!
In The Divine Right of Capital, Marjorie Kelly has written a thoughtful, somewhat revolutionary book questioning the basic paradigm of corporate capital: maximizing shareholders' earnings. She compares stockholders who own corporate wealth to feudal European aristocracy as she contends that the current system bestows riches on owners - who add little value to the company - while the employees do all the work. She focuses on this argument despite recent history, during which managers have extracted more value from companies than owners. Her book is a fascinating, clearly written and cogently argued attack, although she repeats some of the central points. Kelly covers the six principles that uphold the economic aristocracy and the six qualities needed to shift to the economic democracy she advocates. While we from getAbstract don't agree with Kelly's philosophy, we suspect that her lively book will intrigue economists, academics and others who like to contemplate the way whole systems function, whether for good or ill.

Necessary New Perspective
For anyone who's ever felt a disconnect between what they're hearing about the economy and what they're experiencing personally, Marjorie Kelly's book is very enlightening. She challenges some of the fundamental assumptions we hold about the stock market's role in the overall economy. Particularly in the context of current debates about corporate responsibility legislation and the privatization of Social Security, this book is very important. "The Divine Right of Capital" is a must-read for social justice activists and market conservatives alike as we all try to figure out what to do with this broken system in post-Enron America. Love them or hate them, the ideas Kelly offers up are innovative and groundbreaking.

Note: I've talked to a couple of more radical/anarchist/extreme whatever types who found this a little on the tame side because it's so darn grounded in reality. If you're really about tearing down the whole system (not my approach, but best of luck), there might be more satisfying extremist rants out there. For everyone else, read this now!

Essential reading
As much information as I absorb about our state of government, there are still some very broad assumptions which pass under my radar. This book shines a brilliant light on issues that are critically important for ANYONE who wishes to consider themselves 'informed'.

The most basic mythology exposed: that those who speculate have superior & perpetual rights over those who earn by labor. The bias in our mass media & legal institutions is so outrageous that at first it's difficult to accept just how deeply we are being bluffed.

I am now on my second reading. If you only read one nonfiction book this year (instead of the Wall Street fiction & PR positioned as fact) do yourself a huge favor & buy this book.

Unclear; Very Confused; Muddled Thinking
Wonderful example of how undisciplined, muddled thinking can create unsound arguments, based on invalid premises, that yield conclusions that will confirm one's biases. Perhaps in a follow-up book, the author will "prove" that the world is flat. An early mistake: She declares that it is (mostly) false that stockholders fund major public corporations, noting that shares trade in secondary markets. Accordingly, she draws the conclusion that there is no reason that corporations should maximize the interests of stockholders and minimize the interests of shareholders, and that it would be just as appropriate to put the interests of employees first. In fact, clear economic thinking reveals that successful corporations do make the interests of employees a high priority, because a corporation with unhappy employees has difficulty retaining employees, which makes for an unsuccessful company. Further, when a corporation raises capital, it often does so by means of a public offering of securities, which is really an agreement between the corporation and the stockholders where the stockholders give the corporation money in exchange for the right to an ownership interest in the corporation. Whether the shares stay in the hands of the original purchaser or whether the purchaser sells them in secondary markets is not germain; whoever holds the shares holds the right to the ownership interest, which may yield value through appreciation, sale or dividends. If you think her argument that it would be equally appropriate for a corporation to maximize payments to employees and minimize the interests of stockholders, just try this little exercise: Form a coproration and attempt to raise capital to run the corporation (including to pay employees). Then tell the potential investors of your plan to minimize value to stockholders. Then count how many of these potential investors actually invest their money in your corporation. (Hint: if you guessed more than zero, you're too high.)

For years I've been wondering
One of the many reasons why I loved this book was because it answered a question I have had for years: Long after the initial public offering, how does the money used to buy a share of stock become available to the company that issued the stock?

I read many books in the public press that aimed to explain stocks and bonds to the unknowing, but I could never find the answer to this question and decided that it was a dumb question.

The Divine Right of Capital begins with the answer to my question: A public company only gets capital from a share of stock once: when it initially issues the stock. Any further increase in the stock price goes only to speculators also known as stockholders.

These speculators provide needed liquidity but law stipulates that in return they get compensated inordinately to the detriment of the corporation and its employees.

I think that the author's arguments might win the day (despite the readiness of some reviewers here to dismiss them as the rantings of yet another leftist) if emerging companies choose to raise capital by means other than issuing public stock.

Meanwhile however, Supreme Court decisions giving corporations the rights of natural persons are ludicrous and I do not understand why saying this is enough to earn a person the label of hippie leftist. ... Read more