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This book collects Dornbusch's recent commentaries from such publications as Business Week, the Wall Street Journal, and the Financial Times, as well as longer essays from recent and forthcoming books. The pieces focus on issues of domestic and international economic policy, including inflation and debt, exchange rates, trade policy, emerging markets, and the intersection of politics and economics.
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Product details
Series: The MIT Press
Paperback: 367 pages
Publisher: The MIT Press (March 7, 2002)
Language: English
ISBN-10: 026254136X
ISBN-13: 978-0262541367
Product Dimensions:
6 x 1 x 9 inches
Shipping Weight: 1.3 pounds (View shipping rates and policies)
Average Customer Review:
3.9 out of 5 stars
3 customer reviews
Amazon Best Sellers Rank:
#1,303,897 in Books (See Top 100 in Books)
Here in Brazil, I read this reasonable book. It was writen by Rüdiger "Rudi" Dornbusch (1942 - 2002), a German economist who worked the majority of his career in the United States.Some great things about this book:1- This book has the mainly correct ideas about monetary policy, macroeconomic development, growth and international trade.2- The author hasn't anything to support Socialism, Populism and other so many (terrible) Leftists' economic ideas.3- This book is mainly a collection of newspaper's articles and is very easy to understand. This book is for the general public.4- When the author talks about honest, educated and stable countries, such as USA, Japan, etc. he is mainly correct.5- This book is against big government.There's some problems with this book:1- The author just didn't knew nothing about Latin American culture and reality. The chapter 35 is about Argentina's economy in 1997. Just five years later, time showed that it was 100% wrong about the Argentine economic then future. This chapter hasn't only false prophecies about Argentina, but also terrible advices to Argentina. The author also made some terrible advices to Brazil and Mexico. As a comparision, Paul H. Lewis a Professor of Political Science at Tulane University, wrote books about Argentina's economy that are of first class; even better than any book writen by any Argentine, about this same subject.2- The author just didn't knew or at least didn't wrote about the source of Islamic economic crisis.3- In fact, about all of the Third World(Islam, Africa, etc.), the author is regular, weak or even terrible.Reading the wikipedia, I read that the author of this regular book, Rüdiger "Rudi" Dornbusch (1942 - 2002) was among the 100 best economists in the world and teached at MIT for many years. Even so, when I saw a Brazilian telling in TV, some months ago, that astrologers are mainly less wrong about economic future, than economists, I have to see that even astrology being just a fake, economy remains a product of human mind, not physical laws.
This entertaining and sharply written collection of essays surveys the essential elements needed to assure prosperity in the 21st-century global economy. Some of the essays are dated (the only major flaw here), and some of author Rudi Dornbusch's predictions have already been proven wrong, but enough of his predictions are dead-on accurate that his views command attention. His policy prescriptions are rooted in the real world and grounded in practical experience. The region-by-region, nation-by-nation analysis is particularly intriguing and accentuates the clarity and accessibility of Dornbusch's sophisticated - if sometimes controversial - economic arguments. We [...] recommend this book as excellent reading for policymakers, investors and anyone interested in international markets and globalization.
This is a book that was probably ahead of it's time. There has been an abundance of new economic prognasticating books published the last few years and this book, like those, has been right and wrong. This book has certainly been more right about many of the big, macro economic problems. He mention globalization, free trade, the euro and Japan's collapse. He was very pessimistic on Japan and it's has proven correct. I found his tepid comments about China interesting as they have clearly been the major economic force to emerge since the book was written 13 years ago. In summary, it's a pretty good book for those of us that are interested in globalization.
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