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.
|Published (Last):||1 October 2008|
|PDF File Size:||14.71 Mb|
|ePub File Size:||12.58 Mb|
|Price:||Free* [*Free Regsitration Required]|
The world is for all its peoples to participate in exploring and finding the best system and most suitable disciplines in modern time. What are we to make of the Moyo thesis? Moyo sees all this ending in tears. He went on for quite a long time, as dambias demonstrated the company’s range, depth, and brilliance.
Unless the West adopts radical solutions and adopts them quickly, it will be too late. The consensus among western economists is that infrastructure offers only low returns and so substantial investment is not worthwhile. Thirdly, the US scores can be disaggregated to show that some schools and districts are indeed failing but others are excelling, depending on socio-economic status and racial makeup which is a problem of another kind.
How the West Was Lost | Dambisa Moyo
The author, an economist educated at Oxford, details in facts and figures the past events, bad government policies, and trends that spell the bankruptcy of the West and the “rise of the rest. It is being going on more than a year. Citing Thw as one of her historical sources w I really enjoyed this book but mainly because it backed up my own opinions of the disastrous economic direction we have going in the West for much of my life. Although I disagree with some of Moyo’s “fixes,” I appreciate her explanations of the problems and how the developed.
The last 50 or so pages truly infuriated me. Mojo School of Government. How to Reconcile Prosperity with Nature Penguin.
Customers who viewed this item also viewed. 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. But at times the book dambksa to descend into doomsday predictions hence, the titlecalls for a stronger centralized state, and lists upon lists of stats that I could pull off the Internet myself. She worked for the Xambisa Bank as a consultant, and also worked at Goldman Sachs for eight years.
Although her figures and explanations are well defined, my lack of economic understanding had me somewhat overwhelmed by the excess. These players come with a different view of how to organize their economies.
She makes the point that the northern European states are functioning as better managed than the badly managed welfare states of the U. I am no economist, so I was really olst by the numbers showing the economic state and history of the two nations.
Unemployment, debt, housing bubble, bubbles in general, credit cards, free trade, oil resources, global warming, population expansion, currency manipulation, welfare system, democracy, etc, etc Others sound so outlandish America defaulting on its debt to “press reset” that a hitherto quiet and unnoticed English gentleman in the corner says, “this has all gotten a bit silly” and excuses los from the gathering.
I wish more people would read this book, especially people with a better background in economics than I have, in order to talk about it with me.
Then came the turn of the head of a similar Chinese company; undaunted, pointing to the western executive, he said: Goodreads helps you keep track of books you want to read. Baby Boomers now are less productive and more expensive pensions, social security, health care.
All in all, I thought the book provided a lot of thought provoking ideas regarding the West’s attitude towards debt, risk aversion, comparative advantage and an overall culture of living beyond one’s means. In the end, the book puts up a lot of information on the misallocation of resources in the US but does not provide evidence to me that the US, leave alone the West, is really lost.
Technology, labour and capital all combined to make America the winner of the Space Race and the Cold War, and the Superpower of the planet. If you are a seller for this product, would tje like to suggest updates through seller support? Meanwhile, thw 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: Thus, it encourages its youngsters to follow wrong track; everyone is hoping to become a movie or sport star against almost insurmountable odds.
As we mentioned before, the intercontinental companies are making enormous profit by outsourcing and meanwhile the middle class in the so called advanced nations is diminishing. Moyo answers the questions that is on everyone’s lips in America these days, is something wrong with our economy? Jul 20, Ross rated it liked it. She seems to believe in Free Trade which is basically what has caused the coming Chinese hegemony that in turn alarms her so much.
However, I think the recommendations ma Very enlightening book. The West society is running into the hkw end. To respond effectively may well require a vision that is both tougher and simpler than the principles of market efficiency that have guided economic policy in recent decades: To ask other readers questions about How the West Was Lostplease sign admbisa.
Page 1 of 1 Start over Page 1 of 1. In the West today we have the “makers and the takers.
Follow the Author
Also startling for me is the neo-Malthusian argument that the world is running out of energy, land and food on account of growing populations. However, my main question – given that the whole premise of the book is that 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?
All in all, I tho I appreciated the main point of Moyo’s argument, but as the book went on it felt that she repeated her arguments quite a bit.
She reminds us of our savvy aws resilience, which is needed now more than ever to pull us out of this nose dive Also due to the automation, many jobs are replaced by robots and automatic process, one of the major elements that caused the disappearance of middle class. Apr 20, Nigel rated it it was ok. The second issue I had was with one of her solutions, which was for the US to default on their debt as a way of wiping the slate and damaging Chinese growth, appropriately found under the paragraph heading “murder-suicide in Chimerica”, She seems to genuinely support this unbelievably drastic measure as a viable option, which I vambisa think is ridiculous.
Moyo gives an albeit feeble solution to this problem, specifically for the USA, a solution that is most likely to be politically difficult if not impossible to implement, and as a result is likely to be much too late. Ships from and sold by Amazon.
How the West Was Lost: Fifty Years of Economic Folly–and the Stark Choices Ahead
Basically if you don’t want to read the book – this is why the West was “lost”. There’s a problem loading this menu right now. One of the scenarios that it points towards is the USA defaulting on its national debt and truning to protectionism to protect and rebuild its economy, with losh flow on effects of the collapse of the US dollar and decimation of China’s ecomonic growth given it is the largest holder of US debt and also dependant on debt-financed consumerism for sale of its exports.
Edge of Chaos [Paperback].