Right on the money.
A lively and accessible history of a once-dominant issue in American life.
The Federal Reserve Act of 1913, which governs US monetary policy, was a compromise solution to a long and fierce brawl between capitalists and democrats over money—what it is, who should control it and how it shapes the economy. And what a brawl it was. Brands (History/Univ. of Texas; Andrew Jackson, 2005, etc.) recounts the machinations of figures from Alexander Hamilton and Nicholas Biddle to William Jennings Bryan and J.P. Morgan as they engaged in a wildly careening struggle marked by much oratory, some bribery and motives ranging from noble to nefarious. Beginning with Hamilton’s arguments for a national bank, Brands shows how the two camps developed. The capitalists argued for the stability and unity conferred by a centralized, well-managed money supply, while the democrats feared a strong central government as a threat to democracy. Tracing the shifting debate as the nation grew into an industrial power, Brands brings these men to life. We see one-third of the members of Congress profiting as charter shareholders of Hamilton’s first Bank of the United States; Philadelphia mobs rioting against the second Bank of the United States, with Biddle, its director, barricading himself at home; and Jay Gould and James Fisk fleeing the financial district for their lives (to an opera house) after cornering the gold market and precipitating Black Friday, in 1869. Hounded but also feted—100,000 people watched Fisk’s New York City funeral procession in 1872, while a brass band played—the 19th-century financiers played key roles in the rise of the rail and steel industries, battled Theodore Roosevelt and other progressives and saw their heyday pass (even as J.P. Morgan died) in 1913, when President Wilson convinced Congress to create 12 privately capitalized Federal Reserve Banks with government oversight.
Right on the money.Pub Date: Oct. 1, 2006
ISBN: 0-393-06184-1
Page Count: 224
Publisher: N/A
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: July 15, 2006
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.
A helpful guide to working effectively with people from other cultures.
“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.Pub Date: May 27, 2014
ISBN: 978-1-61039-250-1
Page Count: 288
Publisher: PublicAffairs
Review Posted Online: April 15, 2014
Kirkus Reviews Issue: May 1, 2014
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
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