A concise and controversial statement of what needs to be overcome if the world economy is to return to the path of growth...

TURNAROUND

THIRD WORLD LESSONS FOR FIRST WORLD GROWTH

Henry, dean of the NYU Stern School of Business, argues that the United States and other first-world countries should heed lessons from the developing sector.

Three decades ago, Mexico defaulted on its debt and Latin America was entering its own debt crisis. The author documents how, in successive stages, they adopted policies that were the basis for major reforms. In the wake of that crisis and others, these policies became known as “the Washington Consensus” and were broadly applied during the 1997 Asian financial crisis. Henry attributes these policies to Ronald Reagan’s Treasury secretary James Baker and the debt reorganization plan put forward by his successor, Nicholas Brady. In the author’s view, the combination laid the foundation for successful third-world economic reforms that raised living standards and encouraged equity investment. They accepted fiscal discipline and austerity and opened their economies to the world through trade and investment. Their rejection of illusory self-sufficiency through protectionism and import substitution has proven transformative. Now, writes Henry, it is time for Washington, London and Brussels to “recognize the accomplishments of developing countries, and invite them into a new dialogue about the future of the world economy.” Pointing out that the developed economies are now seeking funds from the very countries, like Brazil, on which they previously imposed restrictions, Henry suggests that developed economies “that once stood at the front of the Third World classroom [must]…take a seat and listen.” If those economies are to engineer a turnaround, it will be through shared sacrifice and disciplined policies putting a shared future ahead of political expediency.

A concise and controversial statement of what needs to be overcome if the world economy is to return to the path of growth and stability.

Pub Date: March 12, 2013

ISBN: 978-0465031894

Page Count: 240

Publisher: Basic

Review Posted Online: Jan. 6, 2013

Kirkus Reviews Issue: Jan. 15, 2013

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ALL THE PRESIDENT'S MEN

Bernstein and Woodward, the two Washington Post journalists who broke the Big Story, tell how they did it by old fashioned seat-of-the-pants reporting — in other words, lots of intuition and a thick stack of phone numbers. They've saved a few scoops for the occasion, the biggest being the name of their early inside source, the "sacrificial lamb" H**h Sl**n. But Washingtonians who talked will be most surprised by the admission that their rumored contacts in the FBI and elsewhere never existed; many who were telephoned for "confirmation" were revealing more than they realized. The real drama, and there's plenty of it, lies in the private-eye tactics employed by Bernstein and Woodward (they refer to themselves in the third person, strictly on a last name basis). The centerpiece of their own covert operation was an unnamed high government source they call Deep Throat, with whom Woodward arranged secret meetings by positioning the potted palm on his balcony and through codes scribbled in his morning newspaper. Woodward's wee hours meetings with Deep Throat in an underground parking garage are sheer cinema: we can just see Robert Redford (it has to be Robert Redford) watching warily for muggers and stubbing out endless cigarettes while Deep Throat spills the inside dope about the plumbers. Then too, they amass enough seamy detail to fascinate even the most avid Watergate wallower — what a drunken and abusive Mitchell threatened to do to Post publisher Katherine Graham's tit, and more on the Segretti connection — including the activities of a USC campus political group known as the Ratfuckers whose former members served as a recruiting pool for the Nixon White House. As the scandal goes public and out of their hands Bernstein and Woodward seem as stunned as the rest of us at where their search for the "head ratfucker" has led. You have to agree with what their City Editor Barry Sussman realized way back in the beginning — "We've never had a story like this. Just never."

Pub Date: June 18, 1974

ISBN: 0671894412

Page Count: 372

Publisher: Simon & Schuster

Review Posted Online: Oct. 10, 2011

Kirkus Reviews Issue: June 1, 1974

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This moving, potent testament might have been titled “Black Lives Matter.” Or: “An American Tragedy.”

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BETWEEN THE WORLD AND ME

NOTES ON THE FIRST 150 YEARS IN AMERICA

The powerful story of a father’s past and a son’s future.

Atlantic senior writer Coates (The Beautiful Struggle: A Father, Two Sons, and an Unlikely Road to Manhood, 2008) offers this eloquent memoir as a letter to his teenage son, bearing witness to his own experiences and conveying passionate hopes for his son’s life. “I am wounded,” he writes. “I am marked by old codes, which shielded me in one world and then chained me in the next.” Coates grew up in the tough neighborhood of West Baltimore, beaten into obedience by his father. “I was a capable boy, intelligent and well-liked,” he remembers, “but powerfully afraid.” His life changed dramatically at Howard University, where his father taught and from which several siblings graduated. Howard, he writes, “had always been one of the most critical gathering posts for black people.” He calls it The Mecca, and its faculty and his fellow students expanded his horizons, helping him to understand “that the black world was its own thing, more than a photo-negative of the people who believe they are white.” Coates refers repeatedly to whites’ insistence on their exclusive racial identity; he realizes now “that nothing so essentialist as race” divides people, but rather “the actual injury done by people intent on naming us, intent on believing that what they have named matters more than anything we could ever actually do.” After he married, the author’s world widened again in New York, and later in Paris, where he finally felt extricated from white America’s exploitative, consumerist dreams. He came to understand that “race” does not fully explain “the breach between the world and me,” yet race exerts a crucial force, and young blacks like his son are vulnerable and endangered by “majoritarian bandits.” Coates desperately wants his son to be able to live “apart from fear—even apart from me.”

This moving, potent testament might have been titled “Black Lives Matter.” Or: “An American Tragedy.”

Pub Date: July 8, 2015

ISBN: 978-0-8129-9354-7

Page Count: 176

Publisher: Spiegel & Grau

Review Posted Online: May 6, 2015

Kirkus Reviews Issue: July 1, 2015

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