Book Description

Is economic development conducive to political democracy? Does democracy foster or hinder material welfare?These two questions are examined by looking at the experiences of 135 countries between 1950 and 1990. Descriptive information, statistical analyses, and historical narratives are interwoven to gain an understanding of the dynamic of political regimes and their impact on economic development. The often surprising findings dispel any notion of a tradeoff between democracy and development.Economic development does not generate democracies, but democracies are much more likely to survive in wealthy societies. ... Read more

Reviews (3)

Interesting Work
I had a love/hate relationship with this book. First, and this is purely a stylistic point, I believe it could have been far better edited. It was an avalanche of statistics, statistical analyses, and presented results without a lot of discussion of why relationships emerged. Their first goal -- showing development does not "cause" democratization is, I believe, a revamp of earlier published work. It is, nonetheless, an important finding that is worth repeating.

More interesting is the relationship between dictatorships and demography, but, again, aside from a little theorizing and a few statistical tests I believe the authors do little to shed much light on why different regimes affect demography differently. They begin to flesh out an argument the crux of which revolves around the ability of democratic polities to "commit" to providing social welfare over the long run, but this seems to run counter to their initial dismissal earlier in the book of the Neo-Institutional economics claim put forth by Douglass North, among others, as to the importance of institutions in "binding the hands of the sovereign."

Finally, their results do show that democracies tend to survive in wealthy states, in essence becoming "unkillable" after a certain level of wealth is reached. They do little to really explain why this is, but the result gives credence to Lipset's thesis that devolpment, at the very least, helps sustain democracies.

Overall I liked to book and would reccommend it as an assigned book in a comparative politics/political economy class.

Monumental Work!!!
Too many conjectures and too many theories have been addressed concerning the relationship between polities and material well-being in the world. But they have been raised without a proper test of them, without empirics. This book completely cleans all kinds of intellectual garbages, clarifies the existing arguments, and above all provides a series of the sohpisticated tests. Adam Przeworski and his comrades did a marvelous job.

A Major Book With Only a Minor Contribution
This will clearly be a major book within political science and political economy. Unfortunately, the book's prominence will be due more to the preeminence of the lead author, Adam Przeworski, than to the scholarly contribution of the work. The bulk of the book is a series of statistical analyses that probe the effects of regime type (democracy or dictatorship) on a series of dependent variables. While the book is competent and this is an interesting topic, it is also a topic which has been studied in depth in the existing literature. In fact, dozens of journal articles over the last five years address the questions that drive this book, and many of those articles make use of better data and are methodologically more sophisticated than "Democracy and Development." If this book has a genuine professional contribution to make, it will probably consist in drawing more attention to other people's better, more innovative work on the same subjects. ... Read more

Reviews (1)

A good introduction...
Arthur O'Sullivan is a professor of economics at Oregon State University, and Steven Sheffrin is dean of social sciences and professor of economics at the University of California, Davis. Together they bring a wealth of practical and teaching experience in the field of economics to this text, which serves as a one-semester introduction to economics for undergraduates, both those who intend to continue as majors in economics, and those who simply want an overview of the subject to enhance their other studies.

This book turns on five major principles: The Principle of Opportunity Cost; the Marginal Principle; the Principle of Diminishing Returns; the Spillover Principle; and finally, the Reality Principle. In each chapter, these key principles are repeated and emphasised. There is actually a logic to economics (although it is not always presented in an intuitively logical format).

O'Sullivan and Sheffrin work on a pedagogic principle of Active Learning (perhaps derived from the sound of snoring coming from the student body during at least one of the lectures from one of the authors!). These involve examples and exercises that require thought and detective work, as well as applying the tools that are demonstrated in the chapters. The examples drawn are often from real life situations, to give them grounding in reality (it always helps if an instructor can answer the question, 'when am I ever going to need this?').

The instructional set includes web applications, CD-ROM and video aids, and various print supplements.

A typical semester lasts 15-16 weeks. This text is organised into 17 chapters, some of which can be combined as joint lessons. They cover all the primary economics issues, such as supply and demand, production, elasticity issues, monopoly and competition issues, labour market issues, unemployment, inflation, and more advanced ideas about monetary and fiscal policy, with the beginnings of economic theory and philosophy (particularly Keynesian economics). There are chapters that deal with 'glamourous' issues such as international trade and finance, which may or may not be used, depending upon the pacing of class.

The layout of the book is visually interesting. The use of photography and multi-coloured backgrounds, text and charts sets this apart from the standard, dry economics tome. The writing is sharp and concise, to keep students from getting lost in supposedly erudite (but often confusing) treatises on economic ideas.

The one drawback I have noticed as a tutor of economics is that the graphs and charts introduced early on need more explanation. They are explained mathematically and theoretically, but there is an intuitive leap that doesn't seem to be happening from text to student - the understanding of supply curves, demand curves, and other similar graphing tools remains a bit of a mystery until demonstrated repeatedly (for example, questions I answer frequently include, 'if demand goes up, why does the curve go down?' and 'why is it called a curve if it is a straight line?'). More work with this part of the text early in the text would be helpful. ... Read more

Book Description

The Wealth and Poverty of Nations is David S. Landes's acclaimed, best-selling exploration of one of the most contentious and hotly debated questions of our time: Why do some nations achieve economic success while others remain mired in poverty? The answer, as Landes definitively illustrates, is a complex interplay of cultural mores and historical circumstance. Rich with anecdotal evidence, piercing analysis, and a truly astonishing range of erudition, The Wealth and Poverty of Nations is a "picture of enormous sweep and brilliant insight" (Kenneth Arrow) as well as one of the most audaciously ambitious works of history in decades. ... Read more

Reviews (127)

Diversity is a resource; cultural values matter
Professor Landes has executed a tour de force, a deep, penetrating work that should be required of all college students. He attends to the historic question: Why are some nations so rich and others so poor?

Geography matters, e.g., cold weather countries do economically better than tropical. Climate matters, e.g.,moderate climates are better for growth than are extreme climates. Technology matters e.g., eyeglasses added years to the productive work of skilled crafstment hundrds of years ago. Most of all, culture matters. Landes indirectly yet quite adroitly shows that diversity in all its forms is a resource and that nations benefit from diversity and their other resources in matters of economic and human development if -- perhaps only if -- that nation forges consensus around common values: political and economic freedom; private property and the rule of law; a system of progression and success through merit; and education, training and entrepreneurship.

The anecdotes are plentiful. The data are useful. The scope of the work is incredible. The message is clear and well made. Sure, the most politically correct skeptics will carp. But the world still has not yet witnessed a major economic power between the Tropics of Cancer and Capricorn. A small portion of the world's population produces an abundance of the globe's wealth (and, yes, of course, consumes much of what it makes). And the link between political freedom (and its correlates) and economic growth is very clear. Tyranny eventually fails. Technology will eventually be adopted and exploited.

A nation's common, progressive, evolving, empowering culture provides the template for economic development and success. Full marks, professor.

Everything you wanted to know about economic history, but...
I have only praise for this volume. Firstly narrative: It read like a thriller; hard to put down. Secondly content: the scope is vast with fine detail in addition to excellent references for further reading. Landes has combined real world knowledge with scholarly research to produce a tome that is immensely readable and rewarding. It is hard not to recommend his work to others. The book is written without regard for unnecessary political correctness; fearless. He clearly addresses aspects of recent history that is usually mired in vagueness and doublespeak. Wisdom and humour shine throughout. It reads like the author was able to magically place himself in various regions at different time periods, observing the proceedings and the back stabbing politics that normally accompany these historical events. And best of all, do look forward to the trivia candy strewn along in the book. For example, while making a point on the relevance of the State, he informs us that in Ottoman Turkey firefighting in the hands of private enterprise would respond efficiently when the alarm sounded. They competed with one another and negotiated with the house owner on the spot. As the negotiation proceeded, the fire burned higher and the stakes diminished. In light of the rewarding experience in reading this book, I am prepared to overlook his statement on the advantage Asians have in fine electronic assembly due to the inherent skill learnt by wielding a pair of chopsticks!

Excellent Book
Very good book. Logical, factual and thorough research. The conclusions are not tinted by political opinions. Gives an honest, even maybe harsh, reasoning behind the current state of economic developments throughout the world.

Great overview of world history from the Economic viewpoint
Whats not to like about this book? If you have any interest in history, sociology, or economics it will be right up your alley. As a Senior finishing up my Econ degree I found the background information in the book to be very illuminating. Despite high level of information contained inside it is written clearly and in a manner that the layperson may understand. This book will rest on my shelf amidst my favorites.

Simply Idiotic
Though I enjoyed Landes' humour sometimes, this book is by no means an honest endeavour to answer the question posed by the title. The work is mostly rhetoric. Though I agree with some of his conclusions but his arguments are almost always fellacious. This is my first history reading and I have almost no background on the subject. Still after few chapters it became clear that the book does not meet the criteria of an academic writing. It is a shame for Harvard that Landes carries its credentials! ... Read more

Book Description

Employment. . .Inflation. . .Consumer Spending. Each month, financial markets react to these and other important figures. The data, tables, charts, and graphs in this authoritative book explain how each indicator is determined, and how readers can effectively use this information. New sections include employment and labor figures, new GDP measures, and much more. ... Read more

Reviews (4)

Very careful and detailed book
This book is great. It tells you exactly what the various economic series are, and how they are constructed - down to the fine gory details. I suspect this is the best such reference book available. If the author could produce an updated 3rd edition I would buy it immediately.

Essential for market analysts and conscientious researchers!
The Handbook of Key Economic Indicators clearly stands head and shoulders above competing texts in its depth. The first thing I like about this book is that it provides detailed information on important data series and is an invaluable resource to those tracking the nearly daily release of non-financial data. In addition to providing the necessary methodological background for each indicator, the work explains how to interpret each indicator and specifically suggests what to look for when analyzing data reports. I also found that the explanations of the numerous potential sources of monthly volatility are extremely useful- the explanations are clear indications of the author's extensive experience with the data. I was glad to see the Handbook isn't just a rehash of the first edition--it is very current and includes important new sections on the 1996 Boskin Report, the 1998 revisions to CPI (including the impact on inflation growth rates), and the switch in real GDP to a chained dollar basis and how one works with the new data. What I like about this book is that it not only covers the basics in news release interpretation that market analysts want but also that it is an excellent reference for researchers who need a thorough understanding of the major non-financial economic indicators. What sets this work apart is that it has the depth and coverage of methodologies and special topics that similar texts do not have. For the analyst or researcher working with these complicated and often misunderstood data series, I would highly recommend this book!

A comprehensive, insightful look at key economic indicators
R. Mark Rogers has written a comprehensive, thorough overview of the key U.S. economic indicators. His book would be particularly useful for analysts new to the business, or to seasoned analysts who need to know more about the nitty gritty behind the numbers. Rogers' handbook is filled with more technical information that some people will ever need, and some will find the level of detail intimidating and somewhat cumbersome. However, the compilation of all this information in one source is extremely valuable, and is particularly useful for those who want a deeper understanding of what the economic data say. The level of technical sophistication is what sets this book apart from others. For those who want to understand more about U.S. economic data than the sound bytes on the news or the quotes in the paper provide, this is the book to read.

Comprehensive, very technical, but NOT user friendly.
This work is highly technical. It provides the genesis and sources for all the leading U.S. economic indicators. A dweeb's delight - however it lacks meaningful illustrations. A few charts were provided, but - like the dismal science, the actual text, tables, and raw data are dull, drab, and unimaginative. For my money, a far more "user-friendly" overview is necessary. This book needs some meaningful graphs, colorful illustrations, and an anectode or two. It could have been made far simpler, and easier to understand. As is, the book has only limited value - especially to the investing public. It's a shame the author went to all that work compiling a bunch of data, but, like most dweeb economists, he doesn't effectively communicate. ... Read more

Book Description

This volume surveys the economic history of British North America, including Canada and the Caribbean, and of the early United States, from early settlement by Europeans to the end of the eighteenth century.The book includes chapters on the economic history of Native Americans (to 1860), and also on the European and African backgrounds to colonization.Subsequent chapters cover the settlement and growth of the colonies; British mercantilist policies and the American colonies; and the American Revolution, the Constitution, and economic developments through 1800. ... Read more

Book Description

Technological Revolutions and Financial Capital, now available in paperback, presents a novel interpretation of the good and bad times in the economy, taking a long-term perspective and linking technology and finance in an original and convincing way.

Carlota Perez draws upon Schumpeter’s theories of the clustering of innovations to explain why each technological revolution gives rise to a paradigm shift and a ‘New Economy’ and how these ‘opportunity explosions’, focused on specific industries, also lead to the recurrence of financial bubbles and crises. These findings are illustrated with examples from the past two centuries: the industrial revolution, the age of steam and railways, the age of steel and electricity, the emergence of mass production and automobiles, and the current information revolution/knowledge society.

By analyzing the changing relationship between finance capital and production capital during the emergence, diffusion and assimilation of new technologies throughout the global economic system, this seminal book sheds new light on some of the most pressing economic problems of today. ... Read more

Book Description

Contents include the crisis of industrial statism and the collapse of the Soviet Union, the rise of the fourth world, development and crisis in the Asian Pacific, the unification of Europe, and more. Previous edition: c1998. Softcover. ... Read more

Reviews (4)

Is information technology the culprit?
Many of the observations Prof. Catells made are valid, however the connection between information technology and the social problems are not very strong. The network states, global criminal society, wealth disparity, etc. are more or less the byproduct of globalization. Yes, information technology accelerates the rate of globalization. But would those social problems exist without information technology? Mostly likely yes. These phenomena are not new, they predate the advent of the Information Age (the World Wide Web and mass adoption of internet is a post-1990 phenomenon). Multinatioal organizations (or globalization) have been around for many decades, same goes for the North-South polical economic paradigm. So, attributing all these social problems to the Information Age (at least that is the impression I got out of it) may not be an accurate representation. Nonetheless, his trilogy does demonstrate the acute problem of a global digital divide, and he suggested some possible solutions in some of his other books.

don't read it if you can help it
This is a horrible book and very hard to read. The author writes with long sentences that use big words throughout, that are not necessary in understanding his concepts. This book could have been written in half the words and you would have actually been able to comprehend it. VCR manuals read better than this book.

whose evaluation?
Who is entitlted to judge 'project identity' over 'risistant identity' without recognizing firstly the issues of power, source, context? It is reasonable to imbue 'project identity' to those self-programming producers as well as to those nation-states that are capable of lunching a war just for their national or religious identity. But it could be harmful to suggest those generic labor give up 'resistant identity' while they are not yet organized or empowered. Not mention to those minority or aboriginal people, who could become extinct without resistance. In fact, why should not a resistant identity be counted as a 'project' in the first place?

At any rate, the descriptive part of the book is a good reference for those who never watch/read international news.

This is an outstanding book that deals with our world.
I read this book as a stand-alone book even though it is No. 3 of a trilogy. Castells deals with the most important issues of our times, and he does so, in a serious, scholarly, but readable way. This book is "must" reading for people in economics, politics, policy studies as well as in the other social sciences. Interested lay persons will find this book quite accessible.. ... Read more

Book Description

A comparative perspective and an analytic approach grounded in mainstream economics distinguish this broad, accessible introduction to the Japanese economy. Throughout, Ito utilizes standard economic concepts in comparing Japan with the United States in terms of economic performances, underlying institutions, and government policies.

Referring to cultural factors where appropriate, Ito subjects the basic facts about the Japanese economy to modern theoretical and empirical scrutiny, discussing macroeconomic growth, business cycles, monetary and fiscal policies, industrial structures and policies, the labor market, saving and investment, and international trade and finance.

Ito reviews relevant aspects of Japan's history before launching into a broad analysis of the country's markets and its economic policies. He concludes with a look at such contemporary economic issues as the Japanese distribution system, Japanese asset prices, and US-Japan trade conflicts.

Takatoshi Ito is Professor of Economics at Hitotsubashi University's Institute of Economic Research in Tokyo and at the University of Minnesota. ... Read more

Reviews (1)

Formerly the standard book on the subject, but now dated
This is an economics textbook, not a journalistic report.It gives detailed and sophisticated explanations of how the Japanese economy functions.Often these differ from their American counterparts, especially in such areas as the financial markets and labor practices.The quality of Ito's explanations is such that this book was the gold standard for informed readers who wanted to get beyond the deluge of pop books written during theBubble Economy (1985-1991: like Clyde Prestowit's "Trading Places" or James Fallow's "Looking at the Sun").

However--this book was published in 1991, at the very end of theBubble, and it shows.The Japanese economy has changed in important ways since then.For example, the bad debt crisis and the "big bang" financial reforms have changed the financial system significantly.Because of when it was written, it could not address the ongoing shift of Japanese industry to factories in China, and in a broader context, the "de-industrialization" of Japan (much like what happened to the US when industry went to Japan in the 1970s and 1980s).

Overall, this is the kind of book that a serious library absolutely needs, but which interested readers should borrow rather than buy. Unless, of course, you are a specialist in Japanese economic history--but then you (like me) already have it on your shelf.:) ... Read more

Book Description

Reviews (8)

Engaging reading
Intended for an audience unfamiliar with micro-finance, this book offers an easily readable history of the Grameen Bank and the potential for loaning to poor women. Even though I have some background in the field, I still found it an interesting story. However, the author relied heavily on Grameen staff and translators and I felt that the level of analysis and criticism that would have been useful was lacking. It is more a journalistic story than an academic analysis of this institution.

5 Stars
This is the best book Ive ever read. I'm an international banker of Banladeshi origin working for one of the worlds biggest bank. After reading this book I feel I want to quit my day job and work for Grameen and actually make a difference to the world by helping to eradicate world poverty.

David Bornstein has written the book beautifully.

Dr Yunus is a legend.... Respect to you sir

omar_rahim@hotmail.com

Great things from small beginnings
This is a great book & I recommend it to anyone interested in development in third world countries. Ought to find its way onto a few economics course booklists I hope. It does not offer a step by step guide on how to set up a system in your own country, just a generalised working. Not a big criticism, as that would be a subject for a less accessible, more technical book. For starters, this is it!

Fighting Poverty in the Trenches, One Borrower at a Time
More than just a casual pass through Bangladesh to investigate Grameen Bank, the micro-credit phenomenon started a quarter century ago by Muhammad Yunus, The Price of a Dream fills in gaps left by other writings. It puts a human face on the poor of this impoverished Asian country, formerly known as East Pakistan. It brings poverty-stricken Bangladeshis into your livingroom as factual, not fictional, folks.

"Aren't all Bangladeshis poor?" you ask. No. There is wealth. But there are also tens of millions of families so impoverished that one cannot begin to understand the depth and breadth of their deprivation without actually visiting this tropical nation or coming to know some of these people through a book such as this.

Bornstein writes in a painterly way. His stories, both sad and glad, weave a mesmerizing pattern of the richness of Bangladeshi life amid trying circumstances. How people cope, how they react to successes and disasters, how they work to pull themselves up economically and socially: every thread is pulled through the loom in due course to render a true and clear representation of lives on the ragged edge. Thanks to loans from Grameen, millions of families have been able to hem that edge, one stitch at a time, to finish off their piece of cloth.

For his part, Yunus, speaking as the economics professor he once was, declares, "Credit is a powerful weapon, and anyone possessing this weapon is certainly better equipped to maneuver the forces around him to his advantage." (p. 228)

Micro-credit empowers the unempowered. No one describes that process better than David Bornstein. The Price of a Dream will open your eyes to the possibility of minimizing the indignity of poverty in our lifetime, if not eliminate it altogether. Every beautiful tapestry starts with a single thread. Even if that first thread is mere hope, it's a worthy place to begin.

A must read for microcredit enthusiasts
I've been reading a lot of books on microcredit/microfinance and this is very thorough; I would reccommend it for anyone interested in the industry and to those trying to duplicate Grameen's efforts in other areas. It gives you an indepth look at the Grameen Bank(it's successes, failures). It also gives you an opportunity to look at the bank from the perspective of the borrowers and the staff. All the stories aren't rosy and glamorous which makes this book a lot more balanced than what I've read in the past. The author gives you the room to create your own views on Grameen and microcredit(as a sustainable means to fight poverty). This was a great read!! ... Read more

Reviews (12)

"They did not have enough items to fill a carry-on bag"
Urrea delivers a moving novel based on the true story of the Yuma 14, fourteen Mexicans (from a group of 26) that tried to cross the border and enter the US illegally through the Arizona desert and succumbed in the attempt. The author presents the facts efficiently and his conclusion follows: Mexicans trying to cross the border are human beings like everyone else that had the bad fortune of facing tough economic condition; they should be respected.

The author describes the conditions and historic events that lead to the beginning of the illegal immigration into the US and draws a clear parallelism with our times, when there are several tasks in the US that Americans are reluctant to do, thus illegal immigrants are needed for this. When price changes in international markets adversely affected the Mexican economy and overpopulation became a problem, some Mexicans decided to come to the US. They ended up with a comfortable life, so when others found out, a growing interest in crossing the border developed.

Organizations of coyotes were formed to provide supply for the growing demand, and the poor people seeking a better future became just a means to an end. These individuals in their attempts have to fight against the heat of the desert, thirst, exhaustion, "la migra" (Border Patrol) and the coyotes themselves. On top of this, the control at the border has intensified throughout the last years, so the groups seeking a new future have to go through more dangerous paths each time. In the case of the twenty-six Mexicans that are the center of this story, the point of entry was the Devil's Highway, a deadly desert in Arizona that has claimed numerous victims through the years.

Urrea shows his outstanding knowledge of the topic in question and uses this in his descriptions with no holes barred. One of the most shocking passages of the book was the explanation of the different stages of death by heat, which go from Heat Stress to Heat Stroke. The realism and brutality of this account left me absolutely breathless. Overall, the quality of the novel is outstanding and even though it is a tough read at some points, in the end it is extremely satisfying and enlightening.

Gut-wrenching
Urrea employs great writing skills and techniques to tell the story of a group of Mexican immigrants who get lost in a trek from Mexico to the United States in search of a better life. The details of their journey are gruesome and described with terrifying clarity. This book is not for the faint of heart. But it reads like a good novel.

Each character is well described; Urrea masterfully paints a human face on the victims we so easily ignore. The victims are not limited to the pollos. Even border patrol agents suffer trying to implement our nation's ill-conceived policies on the front lines of this war. Right and wrong get discarded and all participants are left in an insane struggle for survival.

This book should be a wake-up call to those who write immigration policies in this country. And to those who foolishly think we can isolate ourselves from the rest of the world and its problems.

We are all in this together.

Interesting story, poorly written
This story of the Yuma 14 had the potential to be one helluva of a story, as it does read as though it is fictitious. The fact that it's true is the driving force behind the story, only to be marred by the author's sloppy and at time irreverent writing style. He uses repetition of words and phrases in extremis, and he for some reason feels compelled to stick one-liners at the close of all his sections. The material is interesting enough without the reader having to be bludgeoned by tongue-in-cheek punchline passages. It really got annoying and detracted from the larger story of struggle.

A must read
I just want to add my voice in recommending this book. As others have said, Urrea writes like a lyricists and masterfuly alternates plain exposition with poetry to tell us the saga of 26 (more or less, nobody is sure of the exact number) men who made their way from Mexico in search of work and found death and disolation instead. The book indeed reads like a novel, a pageturner (I read it in about a day, I couldn't put it down), but it never allows you to forget that it is a real story, that those people dying in the sun are human beings, and that others - whose names and faces we'll never know - are following in their steps and dying their own desert deaths.

Magnifico!
Amazing book! I couldn't put it down and read it from cover to cover in one day. Urrea has a gift for language and he applies it here. This is the story of 26 men from Veracruz. Urrea could have recounted the story of how 14 of them died in the desert and left it at that. This would still be a book worth reading... but he went way beyond those confines. He took the story of those 26 men from Veracruz and put it in historical, cultural and geographical context. He opened a window onto other worlds and onto our own. He portrays the immigrants, the border patrol and even the coyote, without judgment. He allows the reader to come to her/his own conclusion. Powerful, poetic and unforgettable. I finished it and got back on line to order everything else he has published. ... Read more

Book Description

Book Description

Economic indicators and economic policy have an incredible impact on the volatile financial markets, yet it is often up to traders and investors to interpret the effects and take decisive action. Trading the Fundamentals explains the significance and market impact of all widely followed economic numbers, including the Consumer Price Index, Employment Report and other well-known indicators. Completely updated and revised to reflect today's highly computerized environment, Trading the Fundamentals provides readers with all the tools they need to analyze economic news and make appropriate investment decisions. New topics include: A new emphasis on data availability through the Internet; More detail on indicators such as layoffs and productivity; A completely overhauled discussion of Federal Reserve policy; A discussion of the phases of the business expansion part of the cycle. ... Read more

Reviews (2)

Why isn't this book in print?
I have several economic books, yet this book (written by economic investment professionals) is the most understandable, readable, and usable book on economics I know of. You can understand this material without knowing economics! Since it gives web site addresses for the actual data, you can view the economic results online or sign up to have the results e-mailed to you. It includes tables, so you have a comparison guide to help you figure out whether the data fits in the recession, recovery or expansion phases. As someone who came to economics through the back door (from observation of the markets), economic data does MOVE the markets......This book should be considered essential for traders or investors!

The most important book a trader will ever read
The new edition of "Trading The Fundamentals" is a book no trader should be without.

This book explains what is important about each release, how they are compiled, and how the market interprets them.

If I could choose only one book - THIS WOULD BE IT.

Kevin Cotter, The Cents Financial Journal ... Read more

Amazon.com

John Kenneth Galbraith has been immersed in economics for most of his long and remarkable life. The purpose of this extended essay is to illuminate examples of "innocent fraud" or the gulf between perception and reality in the modern American economic system--a system he had a hand in creating during his tenure in FDR's administration. Though tackling serious subjects, the book sparkles with wit and sly understatement. "A marked enjoyment can be found in identifying self-serving belief and contrived nonsense," he writes, clearly enjoying himself.

The dominant role of the corporation in modern society is one such form of innocent fraud, and he explains how managers hold the real power in our system, not consumers or shareholders as the image would suggest. Despite the "appearance of relevance for owners," capitalism has given way to corporate bureaucracy--"a bureaucracy in control of its task and its compensation. Rewards that verge on larceny."

He also explains how the public realm is effectively controlled by the private sector. The arms industry is but one example of this: "While the Pentagon is still billed as being of the public sector, few doubt the influence of corporate power in its decisions."He also looks at the financial world which "sustains a large, active, well-rewarded community based on compelled but seemingly sophisticated ignorance," and in particular the Federal Reserve System, "our most prestigious form of fraud, our most elegant escape from reality." In essence, Galbraith says that the Fed, for all of its power and prestige, effectively does nothing. And he has little problem with this: "Let their ineffective role be accepted and forgiven."

Both a guide to the present and an aid to shaping the future, this slim, satisfying book is a font of wisdom, conventional and otherwise, from a respected elder statesman in the twilight of his life. --Shawn Carkonen ... Read more

Reviews (3)

Those CAN do will do. Those cannot do will TEACH!
John Galbraith is a living dinosour. The whole world has now abandoned communism-socialism-statism and had embraced free trade, free commerce, exchange, the free flow of goods, services, free flow of ideas.

Yet, this dinosour is clinging to the ideas that the USSR is the model of efficiency and wealth. The USSR, Communist China were static Third World nations until communism collapsed.

Where do dinsours live. They live at the universities of America. Fat-cats living off the riches of the free enterprise system. Tenure, of course, jobs for life. The old saying:

THOSE PEOPLE CAN DO WILL DO. THOSE CANNOT WILL TEACH...

Professor Galbraith, communism, the USSR, Marx, Lenin, Stalin, Mao are all dead, relics of the 20th. century. Socialism is dead.

BTW, please get a real job, economics professors are not real jobs.

Anyone can BS in front of 18 years old.
All this nonesense can only come from someone who has never had a real job, who worked for a living.

Brilliant as usual!
JKG is brilliant! I just wish we would all listen better - and try to change our current path. Ken Galbraith doesn't suggest fancy things which won't work. It would be possible to achieve and well worth it! I recommend it to everyone to read it! And if you have a free minute read "The good Society" too!

Myths and misunderstandings about the economy
John Kenneth Galbraith says he had fun writing this compact treatise, but it makes for painful reading. The much-honored Harvard professor claims that the gap between common wisdom about national economics and reality has widened alarmingly in recent years.

The center of the book's thesis is that what we once called "capitalism", and now usually call a "Market System", has morphed into a "Corporate System" controlled by management bureaucracy. Here are two short fragments to give the flavor of Galbraith's tract:

Myth: Shareholders own corporations.
"No one should be in any doubt: Shareholders-owners-and their alleged directors in any sizable enterprise are fully subordinate to the management. Though the impression of owner authority is offered, it does not, in fact, exist."

Myth: The public sector is entirely independent of the private sector.
"At this writing, corporate managers are in close alliance with the President, the Vice President and the Secretary of Defense. Major corporate figures are also in senior positions elsewhere in the federal government; one came from the bankrupt and thieving Enron to preside over the Army."

In earlier times, this book would have been burned in the public square. These days, it may simply be pushed off the bookshelves by a blizzard of withering reviews. ... Read more

Book Description

Doing Business in China is essential reading for the manager or firm setting up a business for the first time in a complex market. The book provides vital knowledge about business practices, market conditions, negotiations, business organization and more. It emphasizes the importance of guanxi (relationships) as the underpinning of virtually all businesses in China. ... Read more

Reviews (3)

How to do the business in China ?
Doing business in China!
Relation, Relation And Relation....

If you are using your American or European style to work and even partner with China's firms, you must be failure in the end.

Relationship with the Government and officials are the major concerns when you stepping into the door of China.

Think Global and hire Local Chinese people is the only way to have the final success with your partner in China.

China means: " Always in the historical culture "
So don't think about China with your American Standard !

Try to learn with your local Chinese people (doer)

Anyway, China is opened now and also needed to face the ways for WTO ! Reckon, China can learn from their European and American business partners from today.

This book is essential to appreciating the Chinese psyche...
Particularly impressive is the author's approach at presenting the Chinese thought process in such a manner that Westerners can not only understand the Chinese psyche, but respect and learn from it as well. This book was perhaps one of the most enlightening books I have read in a while. There is a a concerted effort to show business protocol and potential avenues of entry, but more importantly this book addresses the fundamental social concepts that need to be FULLY understood before attempting to grow in China.

authorative and insightful
Of the vast number of books about China, this one is a very useful account of how successfully doing business in China. Western Managers at the forefront in China should read this book which brings together a lifetime of research and practice on China. ... Read more

Book Description

There is widespread concern that the explosive growth of the Internet is exacerbating existing inequalities between the information rich and poor. Digital Divide sets out to examine the evidence for access and use of the Internet in 179 nations across the world. A global divide is evident between industrialized and developing societies. A social divide is apparent between rich and poor within each nation. And within the online community, evidence for a democratic divide is emerging between those who do and do not use Internet resources to engage, mobilize and participate in public life. ... Read more

Book Description

A controversial argument that reduced fertility and global aging threaten world prosperity, jeopardize national economies, and will change our way of life for decades to come.

Overpopulation has long been a global concern. But between modern medicine and reduced fertility, world population may in fact be shrinking--and is almost certain to do so by the time today's children retire. The troubling implications for our economy and culture include:
* The possibility of a fundamentalist revival due to the decline of secular fertility
* The threat to the free market as the supply of workers and consumers declines
* The eventual collapse of the American health care system as inordinate expenses are incurred by an aging population.

Phillip Longman's uncompromisingly sensible solutions fly in the face of traditional ideas. State intervention is necessary, he argues, to combat the effects of an aging population. We must provide incentives for young families, and we cannot close our eyes and hope for the best as an entire generation approaches retirement age.

The Empty Cradle changes the terms of one of the most important environmental, economic, and social debates of our day. ... Read more

Reviews (2)

It keeps divulguing the ideas that allow women to exploit me
This book promotes the idea that women staying home is the solution for falling birthrates, even explaining that "the work done by a woman at home becomes more valuable, as the husband progresses". This is not correct, a little housekeeping can be bought in the market at cheaper rates. What women are really using is their sexuallity to make men their slaves and put their money at her feet, with the only retributtion being access to their vaginas every once in a while.

what a wonderful book
so much demographic data, all tied together in a coherent whole.
ties together a lot of seemingly distinct theories. ... Read more

Book Description

A Choice Magazine Outstanding Academic Title of the Year Drawing on a wide range of documents and interviews with officials in the United States, Mexico, and Canada, as well the author's experience as an aide to Senator Bill Bradley during negotiations, Interpreting NAFTA is a history of the agreement's development, from opening talks to final passage. Frederick W. Mayer combines recent work in international relations, comparative politics, interest groups, and public opinion to develop a broad theoretical framework that crosses between international relations and domestic politics. Mayer demonstrates that to understand NAFTA, one must view it as simultaneously a matter of political interests, institutions, and ideas. ... Read more

Reviews (3)

A Great Book on a Dry Topic
A great presentation of what I expected to be an unexciting topic. Examines the workings of the political system in a highly readable way. I was not only well-informed after I read the book, but entertained as well!

Excellent Theoretical Framework
This is excellent material if you are conducting any kind of serious research on NAFTA and its negotiations' development and outcome. It provides with a huge theoretical framework, every step of the process. If your line of work is game theory, this book will really help you (or at least it worked wonders for me). This is mandatory reference material for anyone interested in studying NAFTA.

Mayer rivals Grisham. I couldn't put it down!
Mayer rivals Grisham. He enfolds the strategy of NAFTA like a good murder-mystery. More proof that reality is more entertaining than fiction. It's a thriller, a nail-biter. I couldn't put it down! ... Read more

Book Description

Like the arteries of a living organism, nonprofit organizations carry a life force that has long been a centerpiece of American culture—a faith in the capacity of individual action to improve the quality of human life. They embody two seemingly contradictory impulses at the heart of American character: a deep-seated commitment to freedom and individual initiative and an equally fundamental realization that people live in communities and consequently have responsibilities that extend beyond themselves. Uniquely among American institutions, those in the nonprofit sector blend these competing impulses, creating a special class of entities that Alexis de Tocqueville recognized more than 175 years ago to be "more deserving of our attention" than any other part of the American experiment.

Until very recently, little headway had been made in tracking developments to the nonprofit sector systematically, in assessing the impact they are having, and in getting the results into the hands of the nonprofit practitioners, policymakers, the press, and the public at large. Lester Salamon helped close that information gap by compiling a comprehensive volume titled The State of Nonprofit America (Brookings). This book, which grew out of the larger project, provides an accessible overview of the sector to non-scholarly readers. It paints a broad and clear picture of the state of America’s nonprofit sector while identifying the changes that might be needed to promote its long-term health. The result is a concise and convincing testament to the scope, significance, and determination of America’s nonprofits. ... Read more

Reviews (1)

A seminal work of articulate scholarship
The Resilient Sector: The State Of Nonprofit America by Lester M. Salamon (Director of the Johns Hopkins Center for Civil Society Studies) is a critical and instructive analysis of America's nonprofit organizations as they operate in the country today. Tracing their resilience in response to turbulent challenges, and postulating that the private sector's very flexibility may yet prove its Achilles heel in that it undermines the nonprofit sector's ability to do what must be done, The Resilient Sector is well-researched, thought-provoking, a seminal work of articulate scholarship and very highly recommended reading for anyone involved with or donating to charitable, political, social issue, or religious non-profit organizations whether they are local, regional, or national. ... Read more