Book Description

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

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 (4)

A Fun, Excellent Exploration of Real-World Economics Issues
This is a great little book to use as a companion to a textbook in any intro to economics class. Accessible even to people with no econ background at all, it shows how the principles of economics can be useful to understand a variety of different issues. The readings are short and clear, and they cover real-world, current issues. I would also recommend this to any reader who wants to learn more about the practical applications of economics.

Perfect for college students
The Economics of Public Issues is an enjoyable textbook for the college student. It is perfect for its compact size, yet concise in detail. The topics are very illustrative, and students will find them relevant to today's world.

Decent but Limited
This is a must read for the layman who doesn't want to read Economics 101. Many politicians and well-intentioned citizens should realize what they're up against when they try to thwart the laws of economics, whether it's the minimum wage, ticket scalping, drugs or abortions. This book explains in clear terms why many laws to regulate these issues are doomed from the start. In addition, this book is a great companion for a macroeconomics course to promote class discussions. However, if you already fully understand the laws of supply and demand, then this book is little more than light reading on a plane, and probably not worth the price. Paul Krugman's, The Accidental Theorist, addresses many of the same issues, is a lot cheaper, and more fun to read.

Concise and entertaining intro to Economics
This book covered a wide range of topics with articles pertaining to economic issues. The articles were short and entertaining. The questions at the end of the articles were useful and thought provoking. Difficult topics are covered (e.g., rent control, airline safety, drug usage) in a fashion that allowed the reader develop their own opinion of the role economics plays on the issue. ... Read more

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

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

Book Description

Does rapid population growth diminish countries' economic development prospects? Do policies aimed at reducing high fertility help families escape poverty? These questions have been at the heart of policy debates since the time of Malthus, and have been particularly heated during the last half-century of explosive Third World population growth. In this carefully constructed collection of recent studies and analyses, the authors offer a nuanced, yet clear and positive answer to these questions---a refreshing step forward from the ambiguous conclusions of much of the literature of the 1970s and 1980s. ... Read more

Book Description

In the past decade of rapid change in the world economy, Randy Charles Epping's Beginner’s Guide to the World Economy has been the most reliable tool for keeping track of what's happening. The third edition updates the information in previous editions and explains many new concepts.

What is the new economy? What is globalization? Is the euro the final seal on European Union? How is e-commerce transforming our world beyond economics? What is virtual money, and does it have real value? How do social concerns and societal ills (drugs, poverty, AIDS, endangered natural resources) play a part in the rapidly changing world economy. What are multinationals, and do they signal the end of nationalism? These and many other pertinent issues are concisely addressed in the most accessible primer for those who want to be economically literate (and who doesn't?). ... Read more

Reviews (9)

A book for beginners that beginners can understand!
As I am taking my first class ever on Economics, which is focused on Microeconomics, this book comes in handy as a reference book where I can find a down-to-earth discussion of basic concepts that relate to Macroeconomics. It pretty much did for me in Economics what "The Wall Street Journal Guide to Understanding Money & Investing" did for investing. It is broken down in a chapter-like fashion, much in the style of the dummies guides and written in layman's tems by Mr. Epping, an American who holds a degree in International Finance from Yale, who has held management positions all over Europe and who is fluent in six languages.

Easy to understand economics
I used this book with my children preparing for a debate on foreign trade. Easy to understand. Broken down nicely to find just the information you are looking for. Highly recommended!

Great for liberal Arts folks to learn about econ/finance!
A Beginners's Guide to the World Economy is a good introduction into financial and economic terms. The book is segmented into 81 basic economic concepts, which the authors state, "will change the way you see the world." I believe their phrase is definitely hyperbole because I didn't find any "earth shattering" commentary.

The book is a compilation of information/tidbits you would learn in economics, finance and international finance/business classes. The concepts, in many cases, are common sense and the average person, who has no formal education in the subject, probably would know 10-15 of them minimum.

If you don't know anything about finance or economics it might be worth a good read over 7-8 nights, covering 10-15 subjects a night. The book is easy reading but I wouldn't recommend it to anyone with a business or finance degree wanting to see if this is a "refresher" book because it is very light but a great introduction to economics/finance for those with liberal arts backgrounds. If any liberal arts folks seek a bible of finance it is called "Valuation" and is a mckinsey book. It is used in just about every top MBA program. Tough stuff but if you want to learn about financial analysis and crunching #'s that is the book to get.

A Great Starting Point
I have been reading "The Economist" for over a year and really felt like I needed to gain a deeper understanding about Economics. This was the first book I read and I was not disappointed at all. My only real nitpick is that he does not explain the concept of the "core" of an ecnonomy for example "core inflation" which is something mentioned regularly when I read Economic news.

This book helps you think for yourself
This book helps you understand the basics of economics so you can develop your own views on the national and international economic issues of the day. There's no set view he wants you to endorse, he just wants readers to understand economics so that they can more intelligently form their own opinions. He explains economic concepts in an interesting, easy to understand way that makes for good reading. ... Read more

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In this memoir, the man most responsible for Singapore's astonishing transformation from colonial backwater to economic powerhouse describes how he did it over the last four decades. It's a dramatic story, and Lee Kuan Yew has much to brag about. To take a single example: Singapore had a per-capita GDP of just $400 when he became prime minister in 1959. When he left office in 1990, it was $12,200 and rising. (At the time of this book's writing, it was $22,000.) Much of this was accomplished through a unique mix of economic freedom and social control. Lee encouraged entrepreneurship, but also cracked down on liberties that most people in the West take for granted--chewing gum, for instance. It's banned in Singapore because of "the problems caused by spent chewing gum inserted into keyholes and mailboxes and on elevator buttons." If American politicians were to propose such a thing, they'd undoubtedly be run out of office. Lee, however, defends this and similar moves, such as strong antismoking laws and antispitting campaigns: "We would have been a grosser, ruder, cruder society had we not made these efforts to persuade people to change their ways.... It has made Singapore a more pleasant place to live in. If this is a 'nanny state,' I am proud to have fostered one."

Lee also describes one of his most controversial proposals: tax breaks and schooling incentives to encourage educated men and women to marry each other and have children. "Our best women were not reproducing themselves because men who were their educational equals did not want to marry them.... This lopsided marriage and procreation pattern could not be allowed to remain unmentioned and unchecked," writes Lee. Most of the book, however, is a chronicle of how Lee helped create so much material prosperity. Anticommunism is a strong theme throughout, and Lee comments broadly on international politics. He is cautiously friendly toward the United States, chastising it for a "dogmatic and evangelical" foreign policy that scolds other countries for human-rights violations, except when they interfere with American interests, "as in the oil-rich Arabian peninsula." Even so, he writes, "the United States is still the most benign of all the great powers.... [and] all noncommunist countries in East Asia prefer America to be the dominant weight in the power balance of the region." From Third World to First is not the most gripping book imaginable, but it is a vital document about a fascinating place in a time of profound transition. --John J. Miller ... Read more

Reviews (32)

An unpleasant character revealed
This is a very interesting book that can be read on and off. Obviously it says a lot about how Singapore developed over the past 30-odd years. Indeed, just go to Kuala Lumpur or Jakarta and you can see Singapore's achievement - much of it due to Lee Kuan Yew.

In a way, it would be nice to applaud LKY, but his conceit is so great that's just not possible. He has a ludicrously inflated view of himself, not least as a world statesman sought after by other leaders for advice. He doesn't have a solitary ounce of humility. He dwells on trivialities too much, while his response to criticism - including that from the media and opponents - shows he's incapable of dealing with it, except through twisted legal or authoritarian means.

One achievement he forgets to mention is that Singapore has achieved the seemingly impossible: it's made Chinese people lose their entrepreneurial spirit.

I haven't got there yet, but the gist of last page will be something like:

"And when the final curtain comes down and I depart from the Garden City up into the even greater Garden City in the neverworld above - the one with an even taller hotel, bigger fountain of wealth and busier container port - I hope I'm remembered as a humble man who knew his strengths - many - and recognised his weaknesses - none whatsoever.

I've had a happy life, apart from the last ten years with that imposter Mr Goh in charge. Who does he think he is? He is but a caretaker manager, to use that old British footballing term (ah, England... that green and pleasant land, where name-dropping meant something and I was regular and welcome guest at the highest tables [Top Table: "Lee Kwan who?"]), keeping the hot seat hot for my son.

And when I say "hot," I mean "warm." If I hear a word about those good-looking bodyguards who go jogging in the dewy dawn with my boy, I'll be onto my lawyers immediately. And by strange coincidence, just as my son is clearly the most able and uniquely qualified candidate to be PM, so the judge at court will have not doubt worked at my law firm. Aaargh... I already feel more damages on the way.

I leave as my legacy a few words of compassion for my foes - "rot in hell" - and a new shopping mall for my friends - one that's close to where they're building an MRT station and some property I own. Farewell."

Lee Kuan Yew: A builder of Civilzation
I have both read the book and been to Singapore. I must say Singapore is a charming place. Mr. Lee is harsh, a bit repressive, and intolerant, but he took a small island from the third world to first. What ever you say of Mr. Lee Yew, you can't deny Singapore's GDP per capita. Mr. Lee has created an affective legal system and a wealthy nation. Yes, sometime he did not always stick to the free market, but he got the job done! Let the old man enjoy his victory, the controls he imposed where need at the time, when the old guard is gone, the controls will relax. However they should not completely go away. Remember that Singapore is lucky, they should thank Lee Kuan Yew.... How many countries in black Africa or Latin America would love to be in Singapore's shoes. Remember things in Singapore could be worse, they could have a standard of living like Indonesia. Really, Singapore is a great place to live and to study, we should praise Lee Kuan Yew not curse him.
There are many anti-capitalism, anti-globalization idiots out there, they wish to castigate Singapore for not remains poor and backward, so that they can claim the free-market oppress non-Europeans. The facts are, it took Europe hundred of years to develop the intuitions that allow it to be both prosperous and exercises free speech. Singapore did not have the luxury of developing these intuitions over 300 years, so it had to leap frog and that required the abrogation of some rights.
For a country at the bottom of the third world (GDP per capita of less then $2,000.00 -anything under $10,000.00 is third world in general-) a choice has to be made, do they want democracy or do they want prosperity, you cannot have both. Democracy forces a nations leadership to look at the short term (the election cycle) rather then at the long term. Often they refuse to make the hard decisions, such as labor reform and ending the welfare state, because if they do the general mass, still poor with a third world "give me money" mind set will boot them out of office. Even if they do make the tough decision, they are often reversed after they are removed from office.
Since World War 2 there has not been a single country that has moved its self from the third world to the first using democracy. All the nation to do so (Singapore and Hong Kong) while allow outright democracy, even "democratic" Hong Kong had a government appointed by the British, with out elections.
Some might point to the example of Japan as a democracy that has become first world, but that is a fallacy, because Japan was first world before WWII (e.g. its industrial base that allowed it to fight the West) thanks to the Meiji Restoration that also used Authoritarian methods.
I am not say that every Authoritarian regime is good or that they will being their nation in to the first world, but they do have an advantage over democratic nation. Some might say that the abrogation of important liberties is a high price to pay, I would argue that most liberties that we praise are economic liberties and any regime looking to develop must allow a great deal of liberty.
I ask you, what good is it to live in a country that has a free press, but the average person can't afford to buy a news paper or a country that holds regular elections, but the average person is starving.
I would much rather live in a country that has a censored press, but where the people in the middle class can afford a BMW or a country that does not hold election, but the grocery stores are stocked with food.
Until you have been to a real third world nation, not a Brazil, but a real third world country where there is massive starvation like Ethiopia, you have no right to castigate Singapore or Lee Kuan Yew.
Lee did what he had to do to see his nation serve, G-d bless him!
I would live in the so-called "sinister" and "phobacratic" Singapore with it's clean street, new shopping malls, and clean drinking water, then the third world hell hole that is the democracy of India!

A must read for those interested in development
Singapore is one of the few nations in recent history, which has managed to transform itself from a struggling third world nation to a high tech society in less than fifty years. All this was possible - aside from many other factors - because of the genius of one man: Lee Kuan Yew. This book is the story of his quest to change Singapore.

The first part of the book deals with the various projects he initiated or oversaw that changed Singapore. Lee Kuan Yew gives an overview of what he did to deal with those problems facing every developing nation - crime, education, housing, investment etc...
Reading his memoirs, one cannot help but admire this man's moral character and sense of purpose, other leaders of developing nations would do well to learn from this man.

The second part of the book gives Mr Yew's views on nearly every country Singapore has had significant dealings with. His views are, as he himself says on many occasions, not meant to be politically correct. This means that those fluent in 'diplomatese' may find his language crude and some of his views upsetting.

Not surprisingly the last part of the book, which deals with his family and his personal life is very brief. Given the formal tone throughout, it would not be in keeping to speak at length about his own personal life, although no doubt that would be interesting reading.

For those students of economics or politics and for those curious about Singapore or the Asia-Pacific region in general, I would highly recommend this book. The writing is extremely clear and the chapters are arranged in a logical order, (unlike the haphazard ranting in other memoirs) which makes reading a pleasure rather than a pain. Read this book to be inspired.

As Singaporean.....
The world seems to split in their judgement against Mr Lee (I'm sorry, in Chinese, his surname, or last name in the USA, comes in the front). The third world nations tend to look upon him while the developed nations tend to view him as a dictator. As a Singaporean and after reading his book, I cannot stop to give my point of view.

Mr Lee is a great visionary and Asian states in the 50s and 60s cannot be ruled like those states in the western world. Singapore ran into chaos with racial riots and problems with Malaysia. Indeed, we were kicked out of the Malayan Federations due to differences in point of view, deeply rooted in the differences of religion and race. That day proved to be the happening days and the greatest day in the history of Singapore.

To overcome those problems, Singapore cannot be open and people cannot be given that many "rights" since everything is "wrong". Singapore has to be sensitive towards neighbouring countries, which happened to be Muslim majority, while adopting western way of economic development.

THere are lots of criticisms from within Singapore about those harsh rules but without those rules, things cannot be straighten and Singapore cannot adopt new and effective policies quickly. Indeed, when one reads that book, we must appreciate that a too democratic government will do more harm to a third world country than a semi-dictatorial one. Mr Lee is not a total dictator, he is hard and tough, and that's what a developing nation needs.

Singapore is unlike Hong Kong, which tend to enjoy racial and cultural homogenity. Again, harsh rules are important to make sure the minorities are taken care of. Indeed, Singapore has the fairest policy for the minorities as compared to the US and many countries in the western worlds... we cannot discredit that since Chinese remain the majority but power sharing has been deeply rooted in the Singapore culture as all races are given equivalent representation in the government.

We are a small nation, though many African countries would have admire our strategic location, but sincerely, many of these countries are also strategic themselves. Indeed, it is the reason that Singapore has no resources and that the culture in Singapore is to continue upgrade itself to compete with the rest of the world, that makes Singapore what it is today.

Mr Lee is the captain of the ship, Singaporeans are the crews. WIthout a good and tough captain, the ship has no direction but without good crews, the ship cannot get to sail.

Again, Singapore cannot be served as an example to the rest of the world, cos we are too small and we have our own unique problem. We can just act as an inspiration to the rest. This is again what the US should be... rather than imposing on the rest of the world their style of democracy and human rights, they should allow forms of government that are suitable for each cultures to develop.

I believe this is the hidden message behind this book.

A Dictator's Views - Read Alongside Other Accounts
Here is the second enormous volume (900 plus pages!) of Harry Lee Kuan Yew's memoirs of how he created Singapore, written in a relaxed, confident style by a dictator who says he cares not whether anyone disagrees with him. According to this book, Harry built Singapore out of "a few pineapple plantations." But I recommend the following titles to anyone planning to visit or live in Singapore to get a more balance account of this squeaky clean, sinister place. Stan Sesser's *Lands of Charm and Cruelty* has a wonderful essay on S'pore describing *"the fear that even the best educated Singaporeans feel towards their government"* and much info on the way Malayan and Indian S'pore citizens feel second class. Ian Buruma's essays in *God's Dust* and *The Missionary and the Libertine*, including the famous *"The Nanny State of Asia"* fill in more of the gaps left out by old Harry. Christopher Lingle's two books, especially *Singapore's Authoritarian Capitalism* are merciless, dead-accurate critics of what Lee's done to S'pore during his tenure. Francis Seow's *To Catch a Tartar: A Prisoner in Lee Kuan Yew's Singapore* tells you all you need to know about Harry's supposed indifference to dissent. One of the most unpleasant of Lee's omissions is his leaving out how many skilled and talented Singaporeans emigrate from Singapore to the First World to start new lives in freer surroundings. All of these books tell you something about Harry's manipulation of history - his claim of building S'pore out of a few pineapple plantations is laughable - Singapore was in fact handed the number one port in Asia by the departing British. A less grotesquely insecure leader would take pride in Singapore's successfull development of that port, especially in a region where dictatorships are usually inept as well as frightening. But Harry does not possess that security, as his two autobio volumes - 900 pages each! - clearly show. Singapore is a lot like an Arab gulf state floating on oil, it has successfully exploited its inheritance from elsewhere to some material good for its physically very small self. But 1800 pages of insecure bragging is not the only story. I was reminded by this book of Singapore's poor, sad History Museum, once the famous Raffles Museum of British days, now almost entirely restricted to the history of Harry's time. There's just so much more to know. A good book for the family/business person moving to Singapore is Bo Yang's * The Ugly Chinaman and the Crisis of Chinese Culture* a book that deals frankly with the underbelly of Chinese culture and is very helpful to understanding personality's like Lee's (and little Lee's elsewhere). It will help you end up with greater understanding of things Chinese, and leave your mind clear to enjoy the great side of Chinese culture: the poetry of Li Po and Tu Fu, Confucius, the classic Chinese novel The Story of the Stone, Wallace's Malay Archipelago, Paul Theroux's Singapore novel Saint Jack (and his Singapore short stories), etc. Good luck in Singapore. Order these books here, you can't get them all in Harry's country. ... Read more

Book Description

Presents a global view of stratification in an interesting but theoretically sound way, using an effective combination of academic works, lively stories, and news reports. Helps to educate the social science major or general student about social and cultural differences across the world, and teaches about growing global interdependence and how this is connected to contemporary social problems.

Reviews (1)

Extremely Informative
This was an excellent read!Great for people who are curious about the effects of globalization on the world's labor force.The authors have divided the world's labor markets into regions and provided extensiveinsight into the effects of globalization on under developed regions; andthe consequences faced in the Americas as a result of increasedglobalization.Easy and interesting read.The other books in this series,Sociology for a New Century are great as well. Try Waves od Democracy next. ... Read more

Book Description

Development Macroeconomics was hailed on its publication in 1996 for providing a clear, rigorous, and long-needed synthesis of recent work in the field. This revised edition brings that achievement up to date. Addressing an audience of policy-oriented economists and theorists, graduate students, and advanced undergraduates, Pierre-Richard Agénor and Peter Montiel review and assess the burgeoning research done in the past two decades, paying special attention in this new edition to issues that have recently gained in importance among developing countries, such as the interaction between macroeconomic policies and long-term growth, the political economy of macroeconomic reform, the management of capital inflows, and currency crises.

As Agénor and Montiel show, development macroeconomics has become a vital subdiscipline of macroeconomics. In the past, general macroeconomic perspectives on developing countries were divided into the ideologically charged categories of "monetarist" or "structuralist," but a vast literature has since developed that treats the problems of developing countries with the analytical tools of modern macroeconomics. The authors' coherent and rigorous treatment presents this new analysis and empirical work in an unusually lucid and unified way. It includes extensive empirical material describing the characteristics of the developing-country macroeconomic context. It explores how the analytical tools of modern macroeconomics can be adapted to accommodate such characteristics, and it uses the resulting models to analyze a diverse set of macroeconomic issues that developing countries have confronted in recent years. This is a crucial book for anyone wishing to understand this rapidly changing field. ... Read more

Reviews (1)

An illuminating offer for macroeconomics scholars
This book by Agenor and Montiel has succeeded to a large extent in their objective of integrating macroeconomic theory with the issues of the less developed countries. Proves to be an useful book which could be a decent alternative to the various textbooks in macroeconomics which are divorced of the diverse features of the less developed countries. Indeed an asset for the subject and the researchers. Worth possessing. But the cost is a little bit unaffordable for those in the developing world ... Read more