Book Description

Amazon.com

If Michael Lewis (The New New Thing, Liar's Poker) or P.J. O'Rourke (Holidays in Hell, Parliament of Whores) had spent the 1990s in Moscow, they might have produced a book like Casino Moscow--a dizzying first-person account of the wild east and its shotgun wedding with capitalism. It begins with Matthew Brzezinski as a rookie reporter getting beaten and nearly killed by a pair of Ukrainian thugs;the rest of the book is a white-knuckle tour through a place where the line separating entrepreneurs and criminals is often impossible to discern. Brzezinski worked in the Moscow bureau of the Wall Street Journal. If his name sounds familiar, that's because he's the nephew of Zbigniew Brzezinski, Jimmy Carter's national security advisor. He is an ideal guide: sometimes it takes a fish-out-of-water foreigner to see the things a jaded native cannot. (Comparing the author to Alexis de Tocqueville or Gunnar Myrdal is a stretch, but it's the same idea.) Brzezinski also writes with great humor and amazing panache. Describing the parking lot of a high-class bank, he writes that it "resembled a well-stocked Mercedes dealership that specialized only in armored, navy blue 600-series sedans, or shestotki, as the top-of-the-line models were affectionately known--as in 'My shestotka's just been blown up, can I borrow yours?'" Gangsters, prostitutes, and Western investors fill these pages, all of them coming to life courtesy of Brzezinski's narrative skill.

Despite the title, Casino Moscow isn't just about Moscow--some of the best sections cover other parts of Russia: "It was heartbreaking that St. Petersburg had been so mistreated. Yet even in its state of decay, I still preferred its shabby elegance to Moscow's new-money makeover. In St. Petersburg you lived for the past; Moscow lived only for the day." At the edge of Siberia, on the Pacific coast, is Vladivostok--"five time zones ahead of the Russian capital, but a decade behind." The book is a fast-paced adventure story--and a must for readers interested in Russia as well as fans of modern-day gonzo journalism. Brzezinski is a writer to watch. --John Miller ... Read more

Reviews (24)

Russia Lite
The book is entertaining, though glib and superficial. I've lived in Moscow for three years and Brzezinski's book sounds like so much standard ex-pat piffle: constant moaning about how it's not like back home, coupled with high-sounding moralizing, topped off by a mercenary drive to grab as much as possible from the place before bailing out. I have some doubts about the quality of Brzezinski's reportage, since he seems not to put himself out on much in-depth research. I thought it was particularly odd that he got most if not all of his information about Umar Djabrailov by reading Umar's own collection of press clippings while waiting for an interview. Actually, I'm dismayed to learn that the Wall Street Journal would appoint him one of its Moscow correspondents when his main financial training was watching "Bonfire of the Vanities" and reading "Liar's Poker". It casts doubt on the quality of the WSJ's reportage in general.

And I have to wonder about the quality of his analysis; how could anyone spend as much time in Russia as he did and not understand that Zhirinovsky is but a political clown propped up and used by the Kremlin to advance its own agenda? How can he summarily dismiss the U.S. policy towards Russia (too much support of Yeltsin) without discussing some of the alternatives? And how, oh how, could he not have known that Night Flight was a bordello before going in? Almost every visiting foreign businessman figures this out within 24 hours of arrival.

The book seems content with tossing out the types of cliched characters that will play well with the folks back at the Home Office but it doesn't break out of its limitations with any fresh insights. It's as though the book is setting the standard for a new, post-Cold War rhetoric ("those awful, thick-necked, thieving Russkies!"), but then maybe it's an inevitable tradition in his family (picking up where his uncle Zbigniew left off). Make no mistake, there are a lot of baddies in the upper reaches of power in Moscow, but the situation's a bit more complicated than as presented in this book. By not having distracted himself from his high-priced dinners and social circle of Bright Young Things, Brzezinski hasn't sweated enough to try to get below the surface of the current situation in Russia.

Red Whine
I've never felt compelled to throw a book away. Until this one.
A reporter for a widely respected newspaper, dropped into '90s Moscow's whirling clash of cultures, should be able to come away with quite a collection of stories. And, to be fair, Brzezinski has some humorous stuff, and some interesting tales, but they're buried among too much personal detritus. There is far too much about the author, his family ties (enough already about "Uncle Zbig!") and his resentment of all things Russian. I've never read a book with such a smug (yet whiny) protagonist.
He didn't much like Russians (and had a big chip on his shoulder throughout the book), and he had little use for the expat community. With all his complaining, I wondered throughout this book why Brzezinski agreed to go to Russia, then why he stayed there, then why he bothered to write about it.
There's a good book somewhere in the Russia of the 1990s. This isn't it.

Scared to death of Russia now?
Man, had I not been to Russia as many times already that I have...and I was getting read to leave and had read this book, I would be too scared to go!! Mr. Brzezinski's book is entertaining at best. It glances over some important parts in today's Russia. However, it is too damn moralistic and bemoans the same whining, bitching and complaining that 98% of all the expats living in Moscow complain about...it's not like home. Well, duh...

If you have been following news out of Russia, this book will add nothing new to your bank of knowledge. If you have never been to Russia and you are getting ready to go to Russia, don't let this book scare you away.

"Matthew's Misadventures in the New Eastern Europe"
"Matthew's Misadventures in the New Eastern Europe" is a more fitting title for this book. It is a rambling tale of a young reporter's experiences in Poland, Ukraine, Russia and Belorussia. It is by no means a comprehensive account of the region's transition from communism to--for the most part--crony capitalism and anarchy.
Casino Moscow does have some interesting anecdotes and men's locker room stories from this enthralling period of unprecedented change and transfer of wealth. However, the author often starts to ramble and goes off on tangents, thus the time period discussed is not always obvious. Another serious critique is that the book is quite superficial. Mr. Brzezinski does not delve too deeply into any topic and often fails to state his own conclusions as a good investigative reporter should. In addition he is not more perceptive than an average cognizant tourist. After living in Moscow for some time, he walked into nightspot, which, to his surprise, turned out to be a brothel. Mr. Brzezinski is a typical expatriate who fails to truly understand the local culture and people. He is constantly complaining either about the lack of western luxuries or the exuberant displays of wealth in the new Russia. At times I even sensed a tinge of resentment at missing out on this unprecedented "gold rush" where vast fortunes were made and lost overnight.
While trying to mix in morsels of humor, the author threw serious doubts on the credibility of the Wall Street Journal. Mr. Brzezinski, who was sent to Kiev to serve as the Journal's financial reporter, wrote that he tried to learn about financial markets from watching the movie, Wall Street, and reading Liar's Poker. The Wall Street Journal is a highly reliable and reputable source and this raises the question of whether Mr. Brzezinski was hired as a result of his descent in lieu of financial acumen.
The bottom line is: if you know next to nothing about Eastern Europe, and believe that wild bears roam the snow-laden streets of Moscow, then you will find this book very informative and entertaining. If not, I'd recommend other books on the subject such as Chrystia Freeland's Sale of the Century.

Good read, misleading title
I really liked Brzezinski's book, and I think you will too as long as you don't go into it expecting something along the lines of Chrystia Freeland's "Sale of the Century." Freeland is an incredible reporter and had gained amazing access to the machinations in the Kremlin. Brzezinski even pays tribute to Freeland's talents in his book.

Granted, there is a hard-earned interview with the 'wily' Anatoly Chubais, but short of brief episodes like that, this is really the story of Brzezinski himself and his fiancee (now wife) Roberta as they navigate along the shoals of the East's first brush with capitalism. So it's not really "WSJ reporter Brzezinski demonstrates his knowledge of Russian bond yield curves..." but rather "Hey, here's what was going on in my personal life while I was writing those stories."

And for me, that's a fresh take, and here's where his editors and marketers have sold him short: only about 25% of the book takes place in Moscow. The author also takes you to Vladivostok, Sakhalin, St. Petersburg, Chernobyl, Minsk, Crimea, and Poland - and that's not a complete list. In fact, I thought the writings from Vladivostok were the book's finest passages, closely followed by Chernobyl.

I think readers will be pleasantly surprised by the accessibility of this book. It is worth noting that Brzezinski's work is available in paperback, while Freeland's effort - despite being the definitive account of the period - is now out of print (hardback only) despite its contemporaneous publication date. ... Read more

Book Description

This is the first broad cross-country assessment of the ties between financial structure -- the mix of financial instruments, institutions, and markets in a given economy -- and economic growth since Raymond Goldsmith's 1969 landmark study. Most studies focus on developed countries and compare bank-based and market-based systems. Debates over the relative merits of the two systems have relied on case studies of Germany, Japan, the United Kingdom, and the United States, countries with similar long-run growth rates. The absence of data on developing countries limits the usefulness of such studies for policy makers.

The book contains recently acquired cross-country data from almost 150 countries. It includes information on the size, efficiency, and activity of banks, insurance companies, pension and mutual funds, finance companies, and stock and bond markets. It also incorporates information on each country's political, economic, and social environment. The chapters contain a mix of case studies, cross-country studies, macro- and micro-oriented approaches, and analytical and empirical work. The conclusions point not to markets versus banks, but to markets and banks. It is how well a financial system functions that is critical for long-run economic growth. The research suggests that strong legal rights for outside investors and the overall efficiency of contract enforcement are effective tools for developing the financial sector and the economy. The book includes a CD containing World Bank data. ... Read more

Book Description

The Precautionary Principle is widely seen as fundamental to successful policies for sustainability. It has been cited in international courts and trade disputes between the US and the EU, and invoked in an growing range of political debates. Understanding what it can and cannot achieve is therefore crucial.

This volume looks back over the last century to examine the role the Principle played or could have played, in a range of major and avoidable public disasters. Among the studies it examines are: asbestos and asbestosis, BSE in cattle, CFCs and the depletion of stratospheric ozone, the pollution of the Great Lakes in America, the collapse of Atlantic fish stocks, PCBs, etc., for all of which there is good information on the science, the health and environmental impacts, and the costs and benefits.

From detailed investigation of how each disaster unfolded, what the impacts were and what measures were adopted, the authors draw lessons and establish criteria that could help to minimize the health and environmental risks of future technological, economic and policy innovations.

The result is an absorbing, informative and valuable book for all those from lawyers and policy-makers, to researchers and students needing to understand or apply the Principle. ... Read more

Reviews (2)

A thorough and useful book
The book takes a matter-of-fact approach to the subject, getting contributors to give detailed answers to four key questions on specific hazards that were subsequently addressed, starting with when was the first credible scientific warning of potential harm. It's not a light read, and an understanding of the scientific method, chemistry, and statistics will prove invaluable.

The book received a warm welcome in the scientific press, and the quality of the writing shows why. Where there is doubt in research, the book discusses it honestly. It also shows why problems frequently aren't addressed until after financial or health damage has been done, for example the compound (government) system failures that caused the BSE crisis in the UK. Of note is what has been omitted: the low-hanging fruit of (say) second-hand smoking, thalidomide, DDT, and lead in petrol would have made a separate book.

Another of the questions asked of the contributors concerns costs versus benefits -- for example, there is a discussion of whether the health (and, ultimately, financial) problems of asbestos were offset by the safety benefits, employment opportunities and so on. Combined with an unbiased and non-accusatory tone throughout the book, it makes an invaluable contribution to a field overrepresented by polemics.

The empowerment of bureaucracy
The precautionary principle (PP in short) has become a scientific and political instrument attracting a host of organisations and individuals giving their viewpoints adding to the international discussion. Indeed, how to deal with environmental and human health risks is not a simple matter. Science and technology carry both real benefits and real risks. And a 'better be safe than sorry' strategy -as a translation what precaution is- seems the wisest thing to do.

The European Environment Agency (EEA) adds to this discussion by looking into the past. Always a good thing to think historically about risks and technology. The presentation of those historical examples of technology gone wrong leaves one wondering, however, whether or not the scientific representation is up to par.

Clearly it is not. However, not to the layman. One needs to be aware of all the scientific ins and outs to spot the possible biases. One example I myself am quite familiar with is the antibiotic case discussed by the EEA (chapter 9 in the downlodable version). Blatant omissions from the scientific discussion (leaving out essential scientific literature) spurs the authors of this chapter to a banal and trivial conclusion (p. 98 of the downloadable version):

'As the risks involved are of uncertain magnitude, the decisions on risk management are particularly difficult. The risk can obviously not be excluded with certainty, nor can it be de-termined as acceptable. In a climate of uncertainty it is preferable to show caution. In this situation decision-making needs to involve precaution, particularly when it is unacceptable, inhuman and unethical to wait for ultimate proof, when human fatalities could be involved.'

Of course this conclusion can be drawn for any case, not just this one. Moreover no amount of scientific research will ever result in certainty. The conclusion presented here in the EEA report is not in need of any scientific deliberation. It could do well without ten pages of scientific reviewing, whether or not biased in nature. Furthermore, the authors revert to the fallacy of an appeal to motives in place of support. They regard not invoking the PP as unacceptable, inhuman and unethical. Of course this is beside the point as it has very little to do with the scientific discourse at hand.

This brings me to the philosophical side of the issue. Any type of human action or inaction is fraught with uncertainty and therefore prone to the PP. So how to chose? The problem is that risks of one kind or another are on all sides of regulatory choices, and it is therefore impossible to avoid running afoul of the principle. The PP promotes irrational behaviour by the assumption that regulating target risks (the historical examples presented in the EEA study) is overall beneficial ánd that the costs of risk avoidance with only the specific target risks in view can be met on any scale -which is clearly not the case. Moreover, this asymmetry is enhanced by the fact that those who invoke the PP -the policymakers- do not need to adhere to it themselves despite the fact that any human intervention holds uncertainties for the future.

The EEA treats the PP as though it were an exogenous panacea for environmental and social ills. In other words: market risks warrants governmental regulation. But government regulation is not an exogenous solution to environmental risks; it is itself an endogenous and fallible human activity, and as such it can create risks. Risks that are as real as the risks of market (economic) activities: care can cure but care can also cripple.

The odd thing is that no discussion what so ever is presented by the EEA on the problems of the PP. Not a single reference to the ever growing scientific literature highly critical of the PP. Whichever side one choses, within the scientific discourse one has to deal with scientific criticism from both sides.

My conclusion therefore must be that the EEA did not so much present a scientific piece of work on this issue but made a political statement on how to deal with risk. It is part of the 'ecological critique' of the Western World which Anna Bramwell described so well in her 'Ecology in the twentieth century'. The PP fits well with a misanthropic view of progress combined with a relativistic perspective on science. Therefore the PP empowers bureaucracy as the scientific check and balances are side-tracked in its implementation. Indeed a recipe for increasing social and political struggles and stagnating economies. ... Read more

Book Description

During the last decade, Latin American countries have reformed infrastructure services through private sector participation to enhance internal efficiency and competition to increase consumer welfare. Competition Policy in Regulated Industries offers conceptual and practical approaches to help such emerging economies identify competition problems in infrastructure sectors and find legal and structural solutions.

Infrastructure services have evolved from being publicly owned monopolies into entities in which private participation prevails, complemented by competition and regulation. However, even though competition is pivotal to public service reform, a high degree of vertical and horizontal concentration still pervades the industrial structure of many Latin American countries. Furthermore, mergers and acquisitions in an increasingly global economy, without appropriate legislation to promote competition and restrain market control, have often led to reduced levels of competition. ... Read more

Book Description

This final work by a world-renowned economist will take its place among the classics of political economy Why do some economies do better than others? How does society encourage the kind of market economy that generates continually increasing incomes? How do particular styles of government affect economic performance? World-renowned economist Mancur Olson tackles these questions and others in what will surely be regarded as his magnum opus. Olson contends that governments can play an essential role in the development of markets. Reliable enforcement of private contracts and protection of individual rights to property depend on governments strong enough not to undermine them. His exploration of "market-augmenting governments" will stand as a cutting-edge work on economic growth and provide a useful framework in which to consider the Asian financial crisis and its aftermath. As Susan Lee noted in Forbes, "his pioneering insights might have won a Nobel Prize for Olson had he lived a bit longer."

"Power and Prosperity is an important book, written with clarity and verve. It is a great misfortune that Mancur Olson is not here to respond to the debates that it will surely provoke."-The Wall Street Journal ... Read more

Reviews (15)

A Fascinating Book
I read about this book in the Wall Street Journal and then snapped up a copy. Olson writes so clearly and accessibly that you almost don't realize you're reading a book about economics. Highly recommended for people interested in the future of the world economy and world politics.

Incomplete But Insightful
Mancur Olson takes the same approach that has worked well for economists in other areas: Assume that governments are run by self-interested, profit-maximizing "autocrats." This means that the country will score broad gains if the "autocrat" is a broad democratic majority, but even a dictatorial bandit will have some advantages if the bandit has long-term stability and is therefore interested in maximizing his profits over a long rather than a short term. Olson applies this formulation with success to the Soviet Union, showing why there was considerable growth in the days of Stalin but an inevitable sclerosis set in in the later years. He argues in his final chapter that the key to a successful transition from dictatorship to democracy is the assurance of individual property and contract rights, and that in the absence of such assurance the transition is certain to be problematic.

Olson died before he believed the book ready for publication, and the final effort shows it. Although the prose is polished and extremely readable, the argument tends to be quite skimpy. For example, he argues that the reason for widespread corruption is governmental price-fixing, which he applies to the Soviet experience. I would have liked more detail here, and in particular an analysis of the American experiences with prohibition and the ban on recreational drugs. Also, Olson's theory does not fully explain why third-world democracies have not been more successful. After all, you would think that at some point the "autocrats" would secure the individual rights necessary to maximize their "profits." It will necessarily fall to others to expand Olson's arguments and to determine if this plausible-sounding approach is correct. Meanwhile, we have this fascinating outline.

Excellent description of what went wrong in the Soviet Union
Parts of this book are a bit slow and more theoretical than I want, but the chapter on the Soviet Union is one of the best economic essays I've ever read.
It convincingly discredits the idea that a misguided ideology led Soviet planners astray, by describing how the policies appear shrewdly designed to maximize Stalin's wealth.
It also provides a compelling explanation of the more recent Soviet and post-Soviet economic problems by documenting the extent to which special interests have made their industry unproductive by adopting work rules/habits designed maximize job security.
I wish I could believe these problems were unique to countries afflicted with communism, but the book's reasoning suggests that many parts of our economy where bureaucracies aren't shut down if they fail to produce valuable results (much of government, businesses in industries with little competition, and I don't know what fraction of nonprofits) are equally wasteful.

very interesting book
Olson's book is very interesting and rewarding. It summarizes Mancur Olson's remarkable research on the politics of collective actions and governments in a clear and stimulating way. Can be recemmended to all readers interested in how different governments and institutions can affect the economy, and why.

A disappointment
Despite devoting a considerable portion of his book on "the Prisoner's Dilemma", Mr. Olson did not seem to understand the subject matter himself. The "Prisoner's Dilemma" he presented in this book is, well, not a dilemma at all.

Furthermore, his criticism against the Coase's Theorem is at best flimsy.

I could not help but give up half way through the book. ... Read more

Book Description

In this invaluable introduction to the major post-Second World War theories of Third World development, Peter Preston takes as his focus the strategies used to analyze change in the Third World and examines the ways in which different conceptions of the nature of change have led to different lines of policy advice. In doing so, the author demonstrates how the various contemporary approaches to development draw upon strategies of enquiry which are lodged deep within the intellectual traditions of the modern world. The author's approach is based on the premise that the reader can only fully grasp the live issues and debates surrounding development through an understanding of the linkages with the broader frameworks of social theory.The volume is organized into four major sections:An introduction to the nature of social scientific analysis;A review of the work of the major social scientific figures of the nineteenth century and their impacts in the twentieth;A comprehensive discussion of the post-Second World War theories of Third World development;A prospective study of the current debates within the field of development theory about global structures and agent responses.Development Theory is designed to appeal to students across a wide range of disciplines, who are taking courses dealing with aspects of development. ... Read more

Book Description

Reviews (6)

Acquire Non-Diminutive Cognizance of Greenspanisms
Morbid curiosity drove me to open this book. I suppose I expected to find some sort of arch-conservative, Reaganite-Republican, Ayn-Randian, ultra-capitalist dogmatist. But the figure that actually emerges is that of a dedicated, technical-minded civil servant.

The book contains selections from different Greenspan speeches given over the years. Most selections are prefixed with some scene-setting remarks by the author, Kahaner. The book doesn't have much structure to it -- the chapters are in alphabetical order (e.g., "Banks", "Capitalism", "Derivatives", etc). So you can skip back and forth without losing anything.

While Greenspan's speaking style is usually clear, he does have a roundabout way of talking. For example: "I don't want to suggest we're about to do anything at this stage, but I would confirm we are obviously going to do a great deal of thinking about the whole process." Somewhere else, he jokes: "I've been able to string more words into fewer ideas than anybody I know, and I'm continuing to do that."

Nonetheless, the reader can pick up most of Greenspan's opinions without too much trouble. For example: (a)Debt - bad. (b)Inflation - very, very bad. (c)Capitalism - hurray! His view on income distribution: "No society succeeds unless virtually all of its participants believe that it's fair and gives people opportunities." That one sounded all right to me, but his views on labor strike me as downright creepy; for example: "It should always be remembered that in economies where dismissing a worker is expensive, hiring one will also be perceived to be expensive."

On a subject of current political concern, the privatization of Social Security (or "modernization" is what they're calling it now, I think), Greenspan argues against it for workers already contributing to the system: "Investing Social Security assets in equities is largely a zero sum game." But he also suggests that allowing younger workers the option to move to a semi-privatized plan might be practical.

Greenspan maintains a pretty aloof tone in most of his speeches. For example, while touring the economically devastated region of South Central Los Angeles, he dryly observes, "We regulators are swamped with all sorts of data... It's important to put a face on the numbers." On the matter of dealing with others: "...beyond the personal sense of satisfaction, having a reputation for fair dealing is a profoundly practical virtue. We call it 'good will' in business and add it to our balance sheets."

A section near the end of the book contains remarks others have made about Greenspan. One economist sums it up best: "When Greenspan dies his headstone could read: 'I am guardedly optimistic about the next world, but remain cognizant of the downside risk.'"

On the one hand . . . But on the other hand . . . Yet . . .
The core of this book is a series of quotations by Dr. Alan Greenspan, chairman of the Federal Reserve (1987 - ) on the subjects of banks, capitalism, competition, debt and deficits, derivatives, education, employment, the Federal Reserve, forecasting, the gap between rich and poor, globalization, gold, housing, humor, inflation, the new economy, politics, reputation, risk, small business, Social Security and Medicare, the stock market, technology, and trade. The quotations are simplified into their key principles in brief commentaries by the author, Mr. Kahaner. The author has also provided a brief biographical sketch of Dr. Greenspan as well as comments by others about Dr. Greenspan. (For trivia buffs: Did you know he was once married to the painter, Joan Mitchell?)

Alan Greenspan is a classic conservative, monetarist economist. His views fit nicely into that category. He also has a lively wit, which is normally well hidden behind the facade of "non-speak" that he specializes in. The author has considerately included some of Dr. Greenspan's most famous bon mots. His convoluted sentences are more famous across the planet, and deliberately so.

For when Alan Greenspan really speaks, as he did about "irrational exuberance" in the stock market a few years ago, the ground moves beneath the financial markets. So he has to be careful.

Care is also required because of politics. The Federal Reserve is supposed to be an independent body that is not part of the political process. Yet Congress can change its powers very easily. So the best approach is to hide in the shadows, as much as any 800 pound gorilla can.

This strategy is complicated by the fact that the chairman has to make many speeches, and has many required reports to Congress each year. So, Chairman Greenspan has to utter a lot of words while saying very little.

Perhaps the truest statement in the book was the quote about him pointing out that people on both sides of any issue quote Alan Greenspan as supporting their position. And that's the brilliance of these obscure sayings.

The only times he can be open is when he is in front of a group that doesn't matter. For example, he can praise the small community banks to the skies, because they are so small. Bring up Citigroup, and he has to move off in other directions.

The book that still needs to be written about Alan Greenspan is his art of saying much while communicating little. Now, that would be a book!

My favorite slant on Alan Greenspan was missing from this book. The financial news channel, CNBC, has developed a way to anticipate which way interest rates will go. It depends on the size of Greenspan's brief case when he goes into a Fed meeting. When it is thick, rates change. When it is thin, nothing happens. With a between-sized case, the bias between tightening or not may shift. Interstingly, they are often correct with this approach. And this story shows perfectly how much scrutiny he is under.

The man has done a fabulous job of running the Federal Reserve. We should not forget that in our focus here on his words. This is an area where actions speak louder than words, as they often do.

Now that we are off the gold standard, controlling the money supply is more important than ever because there is no limit on the potential to create inflation. As a former economic forecaster, Greenspan knows that economic forecasts are more often wrong than right. So you have to be vigilant and aggressive in anticipating problems. You will get a good sense of that perspective from this book. It will bring all of those words into a coherent sense of Greenspan's philosophy for you.

After you have finished absorbing these very long sentences, I encourage you to think about when in your life it is good to be balanced in your communications in order to moderate the response. Clarity is not always a virtue. But do be clear whenever it is important to get the point across. Follow Hemingway then. When obscurity helps, follow Greenspan.

May you aggressively pursue the opportunities in front of you, but in a balanced way that exercises extreme caution about the risks involved. In considering your choices, you should pause to consider how forecasting may not always be correct. Naturally, you will want to give full weight to the concerns that your hear as well. (This is my attempt at a Greenspanism, for demonstration purposes.)

One of A Kind
At a time when so many on Wall Street hang on his every word, this compendium of Alan Greenspan quotations is just what is needed. Reading a collection of quotes -- along with the author's excellent analysis -- gives you a better understanding of Greenspan's theories. The author does an excellent job of organizing the Chairman's thoughts into concise chapters with brief commentary. I found the book an easy read for a topic that can be hard to comprehend.

Incredibly enough -- not a snooza-thon!
I know so little about the world of finance and economics and I'm so terrified by my ignorance, I Quicken© what my kids spend their allowances on. So, a book on Alan Greenspan's cryptic ruminations on economic theory wasn't exactly at the top of my "must read" list. But Larry Kahaner has performed a minor miracle here. Not only does the Sphinx-like Greenspan speak in this book -- he also makes a lot of sense. Kahaner does an excellent job of putting Greenspan's words of wisdom into an understandable context with clear, supple, and lively explanations. Now I know why Greenspan has been so influential -he works from a core of bedrock beliefs and strategies that guide his decisions no matter what the economy is doing. This book is a great example of how to make the obtuse and obscure understandable for the common reader. It's also a terrific introduction to basic economic principles because Kahaner does such a good job of showing how Greenspan's macro theories can be easily translated into the micro of your own financial life. A surprisingly good read.

Excellent Book
I read this book because this guy seems to be one of the most important men in the world. I wanted to understand him by seeing what he had to say, rather what someone else said about him. The book is organized very well, and the writer, Larry Kahaner, did an excellent job overall. If you're interested in business and the stock market, I'd say this is a must read. Also, Kahaner's other books are also very good. This is an author I follow. ... Read more

Book Description

Book Description

In this detailed economic investigation of sustainable development, a noted professor of economics argues that many of the alarms commonly sounded by environmentalists are, in fact, unfounded, and that current sustainable development policies should be reconsidered in light of their effects on the earth's human population, such as increased poverty and environmental degradation in developing countries. In a rare balanced counterpoint to popular sustainable development rhetoric, Professor Beckerman forces policy makers to consider whether future generations have rights that morally constrain and trump the claims of those alive today, particularly the masses of people living in dire poverty, arguing that the current sustainable development program is a menace to the prosperity and freedom of both current and future generations. ... Read more

Reviews (3)

Misunderstanding Beckerman's Purpose -- Response to Balfour
Though it is unorthodox to do so, I believe I need to respond to Mr. Balfour's review because he appears to misunderstand the purpose of Prof. Beckerman's book as well as the substance of the environmental idea that Beckerman is challenging.

Beckerman is criticizing the notion of "sustainability" -- that the planet's development rate cannot be sustained in the future because resources will not be extractable at a rate that would keep up with future demand. Hence, sustainability isn't an aesthetic argument, but an economic one. Balfour's criticism that Beckerman does not consider the aesthetic arguments for environmentalism is misplaced because that is not Beckerman's project. Balfour's comments thus are akin to criticizing a military history book on Napoleonic tactics for not discussing the romance between Napoleon and Josephine.

For people intrigued with the arguments concerning sustainability, Beckerman's book is a must-read. It offers short but very thoughtful examinations of several apparently problematic assumptions that lie at the heart of the sustainability philosophy. The sustainability notion emerged about two decades ago when environmentalists were forced to retreat from their "finite resources" argument (i.e., the world will run out of resource X) because, as highlighted by the famous Julian Simon-Paul Weyrich bet, the idea that the planet would simply "run out" became too untenable for all but the most radical environmentalists to hold. The more thoughtful environmentalists shifted to the Malthusian/Ricardoian notion that extraction rates will one day be unable to keep pace with consumption -- in part because resource extractors in the future will constrict supply to further drive up prices.

Unlike the finite resources argument, the sustainability has good thought behind it. But does that theory hold up? Beckerman offers some pretty good arguments that it does not, and he also points out some very worrisome side-effects of the sustainability philosophy -- side-effects that could produce serious near-future ecological and human disasters.

Balfour is correct that we must give serious thought to future generations when we set current resource policies. Unfortunately, he does not appear to realize that his philosophy puts those children at risk, nor does he seem to appreciate that the environmental catastrophes that he laments -- overpopulation, subsistence farming -- occur in the Third World whose ecological ethic he cherishes instead of the First World whose ethic he derides. Fortunately, Beckerman -- as well as his future challengers and their respondents -- will promote a better world for the generations to come.

An insightful and short read
The author of this book is beginning the arduous task of reassessing ideas that have pervaded economic and social thought since Malthus. This book attacks the idea of "sustainable growth" as illogically based and harmful to developing and developed countries alike. The anti-"sustainable-growth" movement has been growing in the past ten years (and even longer), sparking a serious if somewhat hidden debate by academics fearful of the indoctrinated masses. The author brings together some of the most compelling arguments against "sustainable growth". He does not present the entire argument for any of his points, but rather presents us with a book that should spark intellectual thought, as opposed to environmental fear mongering. The author's style is not particularly lithe; but, it is functional without being too stodgy.

Some of the authors main arguments include:
1.) From an economic perspective, it may be cheaper to deal with the costs of pollution (such as levies to prevent rising ocean water from swamping cities etc) than to pay the cost of abating pollution.
2.) The environmental benefit of ideas such as the Kyoto treaty may be next to nothing while the financial costs are great.
3.) Future generations will most likely have much higher income than we will; therefore, it is immoral to afflict today's population, especially in developing countries, with costs that could best be borne by future generations.
4.) The precautionary principle is an illogical one. Paranoid scientists will then be able to cost the global economy trillions on a whim.
5.) Once countries reach a certain per capita income threshold they begin to improve their own environments. Therefore, retarding growth is . . . unadvisable.
6.) Future generations have no rights, as they do not exist.
7.) Limiting the pollution of developing countries impedes growth and delays expansion of average lifespans.
8.) Most interestingly, he alludes to the idea that environmentalism may be a new form of imperialism. The rich countries impress their values of clean environments on those who would rather have enough clean food or drinking water (resources are not unlimited).

(reviewer's note): While many people mention that those who write in favor of companies are bought off by capitalists, it is also important to note that many environmental organizations as well as international organizations (such as the UN) depend on the public perception of unacceptable environmental conditions to further their agenda as well.

This book got a 4 and not a 5 because it is a compilation of many existing ideas with the added flair of a few new insights. It is more of a workhorse than a show horse.

There are two types of people....
This book is written by the type who speaks from the head - an intellectual rather than a humanist. The central theme to the book is that restraining industrial and corporate predation in the name of planetary stewardship is causing and/or excaberating social inequalities which the author would like us to see as single issue problems. This is, of course, a naive and dis-ingenuous way to present highly complex issues such as over-population and the decline of subsistence agriculture in marginal lands. I have only two conclusions from reading this book, and they are both founded on the motive of it's author. These conclusions are: either Wilfred Beckerman is a hopelessly indoctrinated special interests lobbyist, or he is too academically rational to see the spiritual side of the arguements against unrestrained capitalist expansion. And I'm a fully paid-up member of the Capitalist Pigs, so I'm not unsympathetic to the stance he tries to promote. I have, however, a firm belief, not shared by Mr Beckerman, that some of the most important aspects of humans and their psycological needs are not dollar-quantifiable so cannot be factored into a system of economics.
By the end of this book, I was impressed only by the selective and incredibly mechanistic supporting arguments. I was sadly unable to either on-lend my copy or recommend anyone else to read this because it says only what we have already heard from pro-development apeasers - the assumption that the spread of Western values and attitudes is 'religiously' correct in all cultures, and that to refute the proposed development potential of third world cultures is a selfish and patronising vision of 'unqualified idealists'. There is much to dislike in the attitude of the author, not least his contention that critics of development are either 'unqualified' or 'uninformed' (how's that for patronising?) but my main review point here is that he has not addressed the crucial pivot-point of the debate - we are knowingly gambling with huge risk to our ecosystems and our diversity of cultures and all for the real benefit of profit-hungry corporations and political power bases. The real losers in the fight to preserve diversity and beauty (two concepts that the author places no dollar value on) should be these mindless and remorseless entities.
The alternative scenario, boosted by the author using selective and disturbingly simple 'facts' will see the powerless of the third world move into a different and more unpleasant bondage, to a system that is even less interested in self-monitoring or spiritual values than the one they are being 'saved' from. Read this book only to see the dry and brittle hand of the older generation, still sure that it's money and military cancers are helping people live a better life. One wonders what the author does when confronted by wilderness, or wet earth after rain, or any one of a huge number of reminders to most of us that we hold a precious and vital responsibility to act at all times as if we were borrowing this planet from our grandchildren, not inheriting it from our parents. ... Read more

Book Description

Why are some countries poor?What can they do to turn their situations around?What happens to countries and individuals when they move towards being "modern"?What does it mean to "develop" and be "modern" anyway?What are the social effects of the processes of worldwide economic, cultural, and political integration called globalization?From Modernization to Globalization is a reference for scholars, students and development practitioners on the issues of processes of social change and development in the 'Third World'. It provides carefully excerpted samples from both classic and up-to-date writings in the development literature, as well as, a general introduction.Part One reviews formative ideas on the transition to modern society with brief readings from classical theorists. The second part addresses the modernizationists' discussion of how development changes people. The response from dependency and world-system theorists is reviewed in Part Three. The final section includes eight of the most influential writings on the social effects of globalization. Together, this represents an unprecedented compilation important of writings on international development. ... Read more

Reviews (1)

S and S or Scholars and Students
Wonderful resource for a birdseye view of significant observations of the world changes for 2000plus. Stimulates individual thought and also excellent for a group discussion launching pad. Scholars and students will find it engaging and meaningful. ... Read more

Book Description

Compiled by the Hunger Project, this book is the definitive source and reference book to one of the greatest opportunities humanity has ever faced--the end of hunger by the end of the century. Written in response to a growing grassroots demand for up-to-date information about world hunger and how to end it, Ending Hunger brings together for the first time in one place the full range of expert thinking and approaches to eradicating humanity's oldest and most persistent enemy. ... Read more

Reviews (2)

Beautifully illustrated introduction to hunger issues
I was active in The Hunger Project (http://www.thp.org) when this "coffee table book" on world hunger was still just a dream - and back when we still expected to be able to end world hunger by the year 2000.It's a large glossy paperback that has wonderful photographs from around the world and makes a sincere effort to present the facts and issues of world hunger from a politically neutral perspective, giving equal weight to all major viewpoints.The text is as dry as the illustrations are lavish.

Its attempt to be fair, ironically, is the book's major shortcoming.World hunger is not a morally neutral, unfortunate situation that just happened, and not all viewpoints are equally valid.

Enjoy this book for the pictures, the information and - yes - to explore the various viewpoints from what attempts to be a neutral point of view.But to really find out about the underpinnings of world hunger, track down a used copy of Food First, by Frances Moore Lappe (now out of print, unfortunately).

The more modest Millennium Development Goals aim to halve world hunger by the year 2015, but world leaders still aren't acting like they mean it.However, a comparison of stats shows that infant mortality rates have been steadily going down in most hungry nations except those in Africa.In spite of all, the world may be making some progress toward ending hunger.

an awakening to what most of us have never imagined
where are the 1+ million people who took a stand on ending hunger on the planet today? Can their committment for creating a better world stand on the shoulders of the first group creating a fresh idea to make adifference. This book leads me to believe we can. ... Read more