Well reported but with debatable theoretical underpinnings.
The former editor-in-chief of the Economist finds a few bright spots amid the dark economic clouds in post-Berlusconi Italy.
Expanded and updated since its 2010 publication in Italian, this brisk journalistic account by Emmott (Rivals: How the Power Struggle between China, India, and Japan Will Shape Our Next Decade, 2008, etc.) argues that Italy’s current financial crisis eerily echoes the previous one of 1992-1994, and that understanding why meaningful reforms failed to be enacted then may help Italians do better this time. He dismisses as unhelpful in this effort the traditional distinction between the wealthy, industrial north and the poor, rural south. Instead, Emmott discerns a “Bad Italy…selfish, closed, umeritocratic and often criminal,” and a “Good Italy…more open, community-minded and progressive.” As examples of the Good Italy, he offers social movements such as Addiopizzo (“goodbye bribes”) and Ammazzeteci Tutti (“kill us all”), an anti-mafia group. Emmott also visits and praises various nimble new businesses that have managed to thrive despite restrictive labor laws and a glacially slow judicial system that makes it extremely difficult to enforce contracts. The slow food movement in Turin, a cashmere exporter in Perugia and a company that manufactures sophisticated measurement devices are among the author’s examples of the kind of dynamic capitalism Italy needs. However, these praiseworthy efforts don’t immediately address the problem of Italy’s massive debt, which occurs in the context of a global economic crisis due in large part to the kind of unrestricted, unregulated capitalism the author seems to be advocating, despite a brief acknowledgement of the banking industry’s excesses. When Emmott praises Ireland’s governing institutions for becoming “from the late 1980s onward…more efficient and less profligate,” without making any reference to the fact that Ireland is now experiencing a financial crisis at least as severe as Italy’s, it’s difficult to entirely trust his prescriptions for economic health.
Well reported but with debatable theoretical underpinnings.Pub Date: Aug. 14, 2012
ISBN: 978-0-300-18630-7
Page Count: 304
Publisher: Yale Univ.
Review Posted Online: May 30, 2012
Kirkus Reviews Issue: June 15, 2012
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
SEEN & HEARD
Buffs of the Old West will enjoy Clavin’s careful research and vivid writing.
Rootin’-tootin’ history of the dry-gulchers, horn-swogglers, and outright killers who populated the Wild West’s wildest city in the late 19th century.
The stories of Wyatt Earp and company, the shootout at the O.K. Corral, and Geronimo and the Apache Wars are all well known. Clavin, who has written books on Dodge City and Wild Bill Hickok, delivers a solid narrative that usefully links significant events—making allies of white enemies, for instance, in facing down the Apache threat, rustling from Mexico, and other ethnically charged circumstances. The author is a touch revisionist, in the modern fashion, in noting that the Earps and Clantons weren’t as bloodthirsty as popular culture has made them out to be. For example, Wyatt and Bat Masterson “took the ‘peace’ in peace officer literally and knew that the way to tame the notorious town was not to outkill the bad guys but to intimidate them, sometimes with the help of a gun barrel to the skull.” Indeed, while some of the Clantons and some of the Earps died violently, most—Wyatt, Bat, Doc Holliday—died of cancer and other ailments, if only a few of old age. Clavin complicates the story by reminding readers that the Earps weren’t really the law in Tombstone and sometimes fell on the other side of the line and that the ordinary citizens of Tombstone and other famed Western venues valued order and peace and weren’t particularly keen on gunfighters and their mischief. Still, updating the old notion that the Earp myth is the American Iliad, the author is at his best when he delineates those fraught spasms of violence. “It is never a good sign for law-abiding citizens,” he writes at one high point, “to see Johnny Ringo rush into town, both him and his horse all in a lather.” Indeed not, even if Ringo wound up killing himself and law-abiding Tombstone faded into obscurity when the silver played out.
Buffs of the Old West will enjoy Clavin’s careful research and vivid writing.Pub Date: April 21, 2020
ISBN: 978-1-250-21458-4
Page Count: 400
Publisher: St. Martin's
Review Posted Online: Jan. 19, 2020
Kirkus Reviews Issue: Feb. 15, 2020
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