Jan 20, How the West Was Lost: Fifty Years of Economic Folly—and the Stark Choices Ahead. By Dambisa Moyo. Farrar, Straus and Giroux; pages. Amid the hype of China’s rise to global power, the most important story of our generation is being pushed aside: how the West’s rapidly growing population of the. In How the West Was Lost, the New York Times bestselling author Dambisa Moyo offers a bold account of the decline of the Westâ€™s economic supremacy.
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I really love books that shake up your entire world dambjsa — or rather, cause you to questions the way everybody around you seems to perceive things. This is not exactly new territory. Not sure if I explained that well, an example being she compared contrasting ws figures between two countries, but she used the figure for one country and then a figure for the other, which doesn’t really provide an accurate analysis.
How the West Was Lost by Dambisa Moyo – review
All in all, I thought the book provided a lot of thought loat ideas regarding the West’s attitude towards debt, risk aversion, comparative advantage and an overall culture of living beyond one’s means. However, there are a number of economics scholars indicate that current situation is not true capitalism, it is a distorted version. She makes the point that the northern European states are functioning as better managed than the badly managed welfare states of the U.
Dec 03, Kerry rated it really liked it Shelves: Perhaps the Fukashima event has altered her perspective.
I would have given this book 5 stars except that it doesn’t explain very clearly how banks manage to get high loan-to-deposit ratios Elsewhere I have read that it is due to banks taking on additional non-deposit debt which they loan out, which becomes a problem if the ddambisa used as collateral crash in value.
That can be an advantage and disadvantage. HTWWL was an easy read, yet provided enough detailed statistical data to explain some complex economic theories.
How the West Was Lost by Dambisa Moyo – review | Books | The Guardian
The world is changing and Dambisa Moyo expertly shows how we got to where we are and where we are going as a global community. I say this is not a good book, because Dr. Big global problems become economic challenges as well.
Rhe it is West or East doesn’t matter as long as it fits in today’s world that peace can be assured. Given several years of this shortsighted act of printing money, America will face an irreversible bankruptcy.
Moyo stresses that this puts them at a huge competitive advantage, especially when they are able to steal technology from the West. Shopbop Designer Fashion Brands. The economic trajectory of agriculture to manufacturing, to service sector predominance in maturing economies may explain some of this preference, but the service sector economy is also in jeopardy witness the call-centre outsourcing described by Tom Friedman in his Flat Earth book.
Highly recommended for those who have little to no background in economics but are interested in the reasons for thr economic underperformance of the West especially those leading to the financial crisis.
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Kennedy School of Government. This book should be required reading for every western politician, bureaucrat and sambisa president.
Others sound so outlandish America defaulting on wesf debt to “press reset” that a hitherto quiet and unnoticed English gentleman in the corner says, “this has all gotten a bit Reading this book was a little like having a dinner party and listening to a know-it-all who can tell you a million reasons why the world is going to shit in a hand basket and, worse, a million different remedies. Mar 03, Marcus rated it liked it Shelves: That said, her concerns about America’s economic position were intimidating and not without basis.
Basically if you don’t want to read the book – this is why the West was “lost”. The UN forcasts that by one in three persons in the rich countries of the West will be a pensioner.
These players come with a different view of how to organize their economies. Baby Boomers now are less productive and more expensive pensions, social security, health care.
How this for irony: Citing Wikipedia as one of her historical sources would not improve her credibility! I don’t buy this. Unemployment, debt, housing bubble, bubbles in general, credit cards, free trade, oil resources, global warming, population expansion, currency manipulation, welfare system, democracy, etc, etc ComiXology Thousands of Digital Comics.
Alot of the predictions are based on alot of “ifs”, if the US continues its trend on becoming a welfare state, if the US continues with its current foreign policies, if China and the rest continue on allowing t I thought it was a very good read, highlighting the causes of the financial crisis in the US and why if it continues with it’s current policies, it is in line to loose it’s crown as the global economic power.
Meanwhile, the west, and in particular the US, is stuck with an excessive faith in market mechanisms, combined with a political system that will push it increasingly into the most dysfunctional aspects of social welfare: She seems to believe in Free Trade which is basically what has caused the coming Chinese hegemony that in turn alarms her so much. The global migration of labour is also an issue where quantity and quality are considered from their economic impact.
Now, this is an argument that is not only set against the grain of history but also requires far more sophistication to pull off than merely stating that it requires 9 kilogrammes of grain to produce an equivalent weight of beef and therefore that the world is doomed.
The quantity question is in the numbers. At times, it seemed all about America v. Show 25 25 50 All.