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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Want to Read Currently Reading Read. I enjoyed the economic statistics that were supplied and was most impressed by her conclusions as to the choices left to us to avoid bankruptcy or embrace it as the case may be. The Table of Contents and the bold headings tell the main information.
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Hardcoverpages. However, my main question – given that the whole premise of the book is wax if we don’t look out and change everything about our economy and a lot about our society, China will takeover as the most important world power – was, so what?
What are we to make of the Moyo thesis?
Read more Read less. Her work regularly appears in economic and finance-related publications such as the Financial Times, the Economist Magazine and the Wall Street Journal. The key demographic factor in the West is the looming retirement of the baby-boomers. The Fed is adopting QE quantity easing policy which is printing 85 billion per month recently reduce to 75 billion to buy government bonds to ease the problem of current and immanent breakdown for government finance and operations.
Moyo stresses that this puts them at a huge competitive advantage, especially when they are able to steal technology from the West. Furthermore, the compensation for those” stars” in show business and sports is beyond comprehension of the ordinary folks.
My largest concern with the book’s thesis is that it seems to assume a world in which cultures rise and fall based primarily on economic policy.
Ultimately, I was disappointed to find her recommendations all centred on maintaining the status quo of winners and losers in global economics and finance.
The combination of easy debt like mortgages and the mistaken belief that home equity would always rise led to the housing bubble and collapse of Her own resource-rich, youthful Continent of Africa hardly gets a mention. Even though there is some improvement of unemployment, GDP growth and industrial manufacturing recently, the American international trade deficit continues to worsen.
I thought it was incredibly well done, but I have to confess to it being a bit over my head. Based on many data she collected and cited in her book, the West predicament in comparison with the rising economic group, she referred to as “the rest”, is not only the economic recession caused by financial meltdown, but also the breakdowns in terms of social, political, educational domains.
Alt A must read for any socially aware citizen Citing Wikipedia as one of her historical sources would not improve her credibility! Thus, it encourages its youngsters to follow wrong track; everyone is hoping to become a movie or sport star against almost insurmountable odds.
Amazon Inspire Digital Educational Resources. This is probably a stupid critique.
This is an excellent review of the myopic and corrupt management of macro-economic factors by western countries. I wish more people dabisa read this book, especially people with a better background in economics than I have, in order to talk about it with me. On the same path is the argument made without evidence that conflict around resources such as water will shortly be normal without evidence for it. China has evolved an economic model in which the government guides development, accumulating capital, investing in state-of-the-art productive infrastructure, encouraging science, and buying up global resources.
Then came the turn of the head of a similar Chinese company; undaunted, pointing to damvisa western executive, he dmabisa Think of this as all possible contributing factors combined such as geographical factors terrain and weatherrule of law, property rights, human rights, freedom of expression and technological growth and efficiency.
Write a customer review. On the con side I thought she got onto very shaky ground when she ventured outside of the economic narrative.
How the West Was Lost | Dambisa Moyo
I have a couple of problems with the book generally. In the face of these daunting challenges, she sees public policy in the west hamstrung by an obsession with individual rights and a reluctance losy face reality. There is no way they can ever repay the debts they have incurred to support the welfare economies and for the U.
Whether it is West or East doesn’t matter as long as it fits in today’s world that peace can be assured. Moyo is a very serious lady indeed.
Finally, I find mmoyo the book is a very good polemical work but ignores countries that have managed economies very well. Thanks for telling us about the problem.
The two main issues I had with dambusa book were firstly; Moyo has a tendency to compare figures on a topic regarding two different countries but the figures are from different years. I on the other hand have very limited experience in economics my reading topics mainly focus o I quite enjoyed this book, the discussion on the misallocation of labour, capital, and technology was very informative.
How the West Was Lost: Fifty Years of Economic Folly–and the Stark Choices Ahead by Dambisa Moyo
English Choose a language for shopping. The rosy scenario that most economists would suggest if they dared to tackle such a large issue would be that the convergence of the emerging market economies on the west is mutually beneficial: 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.
Britain pioneered western disillusion: Unless as some people predicted, America can reduce large portion of oil import or even becomes oil export country due to the new technologies of producing share gas and oil, there is neither government policy nor plan to improve American capability of industrial output to stampede the outflow of hard currency.
Expensive future-debt in the form of pension I enjoy mine is one problem. Jun 07, Linda rated it really liked it.