Sunday, October 29, 2006

I suggest people read this book....

Books I enjoyed and recommend:


"Three Billion New Captialists" is one of the "bathroom reading" books I have just finshed, and I must say I recommend it to everyone. It discusses the various trade policies of the world, and blends this information together with things like savings rates, debt, and the general interdependence of countries in the world.

This isn't all theoretical stuff, Prestowitz was in the trenches, working as the Counselor to the Secretary of Commerce inder Ronald Reagan. He describes many things with first hand knowlege. He describes the things that I have seen happening in the electronics industry....with China and India.

This is how his book is described on Amazon:

"From Publishers Weekly
Ex-Reagan administration trade official Prestowitz follows up his critique of U.S. unilateralist foreign policy in Rogue Nation with this perceptive diagnosis of the nation's economic decline under globalization. While China and India focus on trade and industrial policies and turn out competent workers who put in long hours at a fraction of American wages, the U.S., Preston argues, struggles with crushing trade and budget deficits, a zero savings rate, failing schools, dwindling investments in scientific training and research, a collapsing dollar and a debt-dependent economy that will face an "economic 9/11" once foreign creditors bail out. The argument echoes Thomas Friedman's The World Is Flat (Forecasts, Apr. 4), but Prestowitz's analysis is more thoughtful than Friedman's pro-globalization cheerleading. He criticizes, from firsthand experience, Washington's cavalier embrace of free trade and aversion to industrial policy ("they'll sell us semi-conductors and we'll sell them poetry," notes one Reagan administration economist) and argues cogently that the research and development apparatus and high-tech entrepreneurship that is supposed to save America's economy is likely instead to follow the manufacturing base offshore. It's a lucid and sobering forecast."
I highly recommend the above book.

As I was reading the above book, I also started reading another book along the same lines, except with a much more negative assesment of what the end result of our slide will be. This second book is called "The Second Great Depression" written by Warren Brussee.

Mr. Brussee is not an economist, but is an Engineer who is retired from GE. He has apparently written books before we well, though those were on Six Sigma Quality discussions.

This book has a similar view of our problems, though with less personal hands-on insite into the inner workings. The other thing is that while Mr. Prestowitz' book describes some possible horrible results....he never goes so far as to suggest that those predictions will come true. (just that they COULD come true.)

Both of the above books are worth the price and I suggest you at least borrow them from your local library.


As of yet UNREAD books:
So what is in my pile of reading these days?

I just picked up three books at Borders books today. All three are on economics in one way shape or form, and they look sort of interesting. (I have only just cracked them open to peek)


Exporting America is a book that looks kind of interesting because it appears to talk about the very thing I have seen in the Electroincs industry....with our mad drive to outsource.

From the review:
What is the new economy? What is globalization? Is the euro the final seal on European Union? How is e-commerce transforming our world beyond economics? What is virtual money, and does it have real value? How do social concerns and societal ills (drugs, poverty, AIDS, endangered natural resources) play a part in the rapidly changing world economy. What are multinationals, and do they signal the end of nationalism? These and many other pertinent issues are concisely addressed in the most accessible primer for those who want to be economically literate (and who doesn't?).

Economics, Making Sense of the Modern Economy looks as though it might be written for "the rest of us". There is no doubt that it doesn't answer every question....but it will begin my education on the matter.

From the review:
Book Description
Top writers and contributors to "The Economist" come together to deliver an accessible and expert analysis that shows readers how to make sense of the modern economy.

About the Author
"The Economist" is one of the most trusted publications in the world, with an informed readership of over 1 million weekly, over half of those in the U.S. and Canada.



Last but not least, I will be reading a book that is very basic called "A Beginners Guide to the World Economy".

From the review:
"What is the new economy? What is globalization? Is the euro the final seal on European Union? How is e-commerce transforming our world beyond economics? What is virtual money, and does it have real value? How do social concerns and societal ills (drugs, poverty, AIDS, endangered natural resources) play a part in the rapidly changing world economy. What are multinationals, and do they signal the end of nationalism? These and many other pertinent issues are concisely addressed in the most accessible primer for those who want to be economically literate (and who doesn't?)."

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