Showing posts with label political economy. Show all posts
Showing posts with label political economy. Show all posts

The United States since 1980 (The World Since 1980) Review

The United States since 1980 (The World Since 1980)
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The United States since 1980 (The World Since 1980) ReviewThis book isn't what I expected. I wanted more facts and information on how the middle class has lost ground since 1980. This book is a good overview of government policy for the past twenty five years. You walk away from this book with a good overview of history. I'm going to have to dig a little deeper for the actual data that this book was based upon.
I'm a huge Dean Baker fan. Most economists are slaves to their perspectives. It's really hard to get good economic and fiscal views outside the corporate American view. Baker allows us to be free.
Baker predicts a recession this year because of the housing bubble. Lets see how accurate he is. I'm betting on Baker. Don't bank on the Wall Street guys, they seem more interested in protecting their clients than getting you truth.The United States since 1980 (The World Since 1980) Overview

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It Takes a Pillage: An Epic Tale of Power, Deceit, and Untold Trillions Review

It Takes a Pillage: An Epic Tale of Power, Deceit, and Untold Trillions
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It Takes a Pillage: An Epic Tale of Power, Deceit, and Untold Trillions ReviewThis is an exceptionally well-written account, in detail that doesn't drown the reader, of the actions of the banking and financial industry that lead to the financial meltdown and subsequent economic contraction.
If you have already constructed a good general grasp of the various components at work, Ms. Prins fills in the particulars with a flourish. She correctly points to this being a collapse of a man-made system, fueled by the standard mix of hubris, greed, self-delusion and legislative abandon -- only it's a system that tossed trillions of dollars into a waiting black hole, inevitably touching the lives of tens -if not hundreds- of millions of people.
This is the *best* writing on this debacle I've encountered. I'd rate it right up there as commentary with David Cay Johnston's 'Perfectly Legal' and his 'Free Lunch'. But it's far more than simple commentary; Ms. Prins knows exactly what she's writing about.
It's better than Taleb Nassim's 'The Black Swan' and outdistances James Galbraith's 'Predator State' and Thomas Frank's 'The Wrecking Crew' as a precise commentary on the enemy that has grown and prospered in our midst. Gillian Tett's 'Fools Gold' was a good explanation of the creation -and subsequent rise and abuse- of derivatives in the financial world, but lacks Ms. Prins' comprehensive view, from on high, of the high-octane transmogrification of the banking and financial industry over the past ten years from a service industry into a manufacturing industry designing, producing & marketing a new breed of "securities" built by rocket scientists that blew up after launch but nonetheless produced oodles of bonuses and fees for these firms and their CEOs.
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