June 17, 2008

Interesting book - interesting macro themes

Three of the best books I have read in the past one year.
  • Confessions of an Economic Hit Man by John Perkins
  • Globalization and its discontents by Joseph Stiglitz
  • Making Globalization Work by Joseph Stiglitz
Not that they are any kind of outright best sellers, but these are some books which caught my eye when I was browsing books at Landmark.

I think it is worth reading all these books continuously though the order is not going to make much of a difference. Confessions of an Economic Hit Man is more a James Bond kind of book, but most importantly the book reveals some interesting insights to the functioning of a few countries. This book specially corroborates the story of the brilliant movie, "Syriana".

After reading this book, one really wonders if our understanding of the world is actually in the right direction. We are all, atleast in class rooms, taught that Capitalism is far more efficient form than communism and that companies would eventually be ruling the world more than politics. The books written by Joseph Stiglitz gives an amazing insight, through his eyes, into the functioning of leading finance institutions like the World Bank and IMF. It gives the broad philosophies that these institutions have towards lending. A true eye opener.

I shall reserve my inferences to myself but would urge readers to look at these books quite seriously. I shall end this section of the blog by saying that the book is clearly one sided and hence suffers serious setbacks to create an unbiased opinion. From critics of these books, I see them lacking the same degree of conviction that I saw with what these authors have written. Anyways... there are a few more books available which could help create an opinion. Raghuram Rajan is one who follows the IMF doctrine. Hopefully his books should help create a better opinion.

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