Book Description
This book is for users wanting to understand the impact of international economics. Therefore, the economic theory is low-level, but it is very applied with an emphasis on managerial or public policy decision-making. For instance, the book gives heavier treatment to international production and international development than most international economics books.
Customer Reviews:
a global study.......2007-07-28
Reinert explains the current workings of the global economy. Explaining the basic precepts of international trade. Within the context of the postwar trade agreements. The rise of the newly industrialising countries of East Asia (Japan, South Korea and Taiwan) is keyed to the massive amounts of export-driven manufactured goods that those countries produced.
Related to this are ideas like the enabling of foreign direct investment, which can act as a capital supplier and a spur to future growth of a country that gets the investment.
The book also delves into economic theory and accounting frameworks needed to quantify international trade. Given the global scope of the book, currencies and exchange rates between those currencies are discussed. Hence the idea of purchasing power parity, as a different way to compare countries, instead of purely by exchange rates. The Big Mac index, introduced by the Economist magazine, is given as a vivid instantiator of PPP.
Book Description
In April 1956, a refitted oil tanker carried fifty-eight shipping containers from Newark to Houston. From that modest beginning, container shipping developed into a huge industry that made the boom in global trade possible. The Box tells the dramatic story of the container's creation, the decade of struggle before it was widely adopted, and the sweeping economic consequences of the sharp fall in transportation costs that containerization brought about.
Published on the fiftieth anniversary of the first container voyage, this is the first comprehensive history of the shipping container. It recounts how the drive and imagination of an iconoclastic entrepreneur, Malcom McLean, turned containerization from an impractical idea into a massive industry that slashed the cost of transporting goods around the world.
But the container didn't just happen. Its adoption required huge sums of money, both from private investors and from ports that aspired to be on the leading edge of a new technology. It required years of high-stakes bargaining with two of the titans of organized labor, Harry Bridges and Teddy Gleason, as well as delicate negotiations on standards that made it possible for almost any container to travel on any truck or train or ship. Ultimately, it took McLean's success in supplying U.S. forces in Vietnam to persuade the world of the container's potential.
Drawing on previously neglected sources, economist Marc Levinson shows how the container transformed economic geography, devastating traditional ports such as New York and London and fueling the growth of previously obscure ones, such as Oakland. By making shipping so cheap that industry could locate factories far from its customers, the container paved the way for Asia to become the world's workshop and brought consumers a previously unimaginable variety of low-cost products from around the globe.
Customer Reviews:
No where near technical enough.......2007-10-03
Like many jounalists' stories this is set around a particular factor. In this case an entrepeneur who no doubt had a big role to play.
But there were lots of other factors which are not given much play and others bearly alluded to. Also, not even one drawing of a container or its fittings!
So OK as an intro but by no means a comprehensive history.
Global supply chains explained.......2007-08-13
It's hard to dispute that containerization has dramatically altered the rules of the game: global supply chains, logistics, and outsourcing are all direct consequences of the massive trade flows enabled by modern containerships. Marc Levinson's account of this industry is an interesting mix of politics and history. A good section of the book is dedicated to labor disputes, and the general resistance of the dock workers and US unions to mechanization. In retrospect, they were worried for the right reasons, modern ports require very little human involvement and the days of breakbulk shipping are long gone. In all, 'The Box' offers a good mix of the politics, strategy, and historical research.
Interesting Look at the Building Blocks of Globalization.......2007-08-08
Although THE BOX may be somewhat too American centered, economist and business journalist Marc Levinson has written an eminently readable history of the advent of the modern logistics industry that goes a long way toward bringing the attention of a nonspecialist audience to the topic. Despite his belief that his subject has "all the romance of a tin can" (p. 1), his account is anything but dull because he builds much of his narrative around a cast of colorful entrepreneurs, engineers, and union leaders. The most significant character is Malcom P. McLean, who launched modern containerization in April 1956 by having fifty-eight truck trailers loaded onboard a refitted oil tanker that sailed from Newark, New Jersey, to Houston. The main background to Levinson's account, however, consists of the various roadblocks to containerization put in place and enforced by government regulators in agencies such as the Interstate Commerce Commission (ICC), the United States Maritime Administration, and the Federal Maritime Board. In the author's opinion, the bureaucrats, far from having the consumer's best interest in mind, usually undertook to protect established commercial interests by limiting competition in the transportation industry....
Levinson's treatment of the revolutionary days of container shipping, which lasted until the early 1980s, is very thorough, but his account of the more recent past is much less so. Indeed, people familiar with the industry may get the impression that a final (non-American) chapter is missing from the book. For example, although Levinson describes the rise of container ports in western Europe and East Asia, he devotes only two paragraphs to the fact that European and Asian firms that were late entrants in the game now dominate the industry. No U.S. firm is currently listed in the world's top eighteen container ship companies. Five of these top firms (including the three largest) are headquartered in Europe, three in China (two in mainland China and one in Hong Kong), three in Japan, two in Taiwan, two in South Korea, and the remaining three in Singapore, Chile, and Israel. (See Ted Smith-Peterson, "Railroading's New Economy: The Spigot," TRAINS 66, no. 9 [2006]: 34-41.) In Levinson's opinion, these late entrants achieved success because they "arrived with financial and managerial skills foreign to many of the carriers they replaced, skills appropriate to an industry in which raising capital and managing information systems were far more important than maritime knowledge" and because they were not burdened with "the legacy of government subsidies and directives that had crippled many of their predecessors by forcing them to buy ships built in their home countries or to sail routes determined by regulators" (p. 275). No doubt many readers would like to know more about these developments and about which skills Levinson means.
Levinson also barely alludes to more recent technological advances and to the amazing fact that the rest of the world now handles only one-third as many containers as the Chinese do (for both domestic and international trade). Furthermore, in the words of one industry analyst, China has now become the "U.S. railroads' growth engine" and has been the cause of an American "rail renaissance" (Tom Murray, "Railroading's New Economy: The China Factor," TRAINS 66, no. 8 [2006], p. 28).
Despite such shortcomings, however, THE BOX is highly recommended for anyone with an interest in understanding the emergence of our contemporary "globalized" world economy.
Superb for non-specialists.......2007-05-08
I read this book a few months ago for my nonfiction "foreign policy" book club and we loved it. I continue to rave about it and recommend it to others in diverse fields from national security to development to leadership studies. As generalists unfamiliar with shipping, this book was incredibly readable and engaging. Chapters treated a diverse range of topics, which we found well covered and incisive, such as the discussion of the role of labor unions, business entrepreneurship, and interplay between containerization and globalization. Kudos to Mr. Levinson for a superb effort.
A fascinating read about "boring" containers.......2007-04-25
Ever looked at a modern city's ports and wondered about those gigantic cranes or the logistics chain that they were a part of? Or wondered how we went from a world of stevedores/longshoremen and manual unloading to the gigantic container ships and nearly automated loading and unloading? Or better yet, how goods get so cheaply from the world's manufacturing facilities in China to the US, Europe and other places?
These are the questions the book addresses. It does so by focusing on the humble containers at the root of all this process and retelling their history over the last 50 years or so. If we didn't have a global standard for shipping container sizes, none of the infrastructure built around them like container ships, cranes, ports, rail cars, truck trailers and others would be possible.
The book shapes the story of the shipping container around one man Malcolm McLean who is widely regarded as the person who first used containers and built a shipping business around them. The book does a good job of detailing the history of the container including the initial struggles, the opposition of the longshoremen's labor unions and the rise and fall of ports as they bet (or did not bet) on the economies of scale that were brought about by the container. One does get a sense by reading the book of how much of our global economy we owe to the changes brought about by containers.
So why only 4stars? For one, I think the subject matter is interesting only to a narrow cross section of the population. Second, the book does drag quite a bit in places. The author does a great job of making the matter accessible, but he could have gone further. A certain pedantic nature does creep into the book and I felt some of the material could have been edited out of the book to trade off readability at the cost of scholarly completeness.
Average customer rating:
- Calculations are only as good as your numbers
- Pants on fire?
- Accepted History & Chronology Must Be Changed.
- Very Interesting
- History as Science Fiction
|
History: Fiction or Science? (Chronology, No. 1)
Anatoly Fomenko
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ASIN: 2913621058 |
Book Description
Recorded history is a finely-woven magic fabric of intricate lies about events predating the sixteenth century. There is not a single piece of evidence that can be reliably and independently traced back earlier than the eleventh century. This book details events that are substantiated by hard facts and logic, and validated by new astronomical research and statistical analysis of ancient sources.
Customer Reviews:
Calculations are only as good as your numbers.......2007-08-03
Yes, we can all agree that mainstream history is nearly 100% BS due to politics, economics, ego, problems with dating techniques, and various conspiracies. Agreed. But, I've been researching the distinct possibility that human history (in terms of civilizations) are much more ancient than we've been told, so coming across this book was very interesting to me. I wondered how Fomenko could be wrong (if at all) because he is very persuasive in his presentations. Then it dawned on me. If at previous times in prehistory, due to the various catastrophies that are well documented (comets, asteroids, planetary disruptions, plasma discharge, pole reversals, etc) the Earth was in a different position in relation to the sun, different tilt on its axis, different orbit, different rotation (in terms of velocity and DIRECTION), and the continents were in different positions, then would this not cause the ancients to see the sky (constellations) differently? In other words, is Fomenko making erronious assumptions about the physics of the Earth in pre-history, which then corrupt his data with regards to dating the relevant astrology? The last event to seriously disrupt our planet occured roughly 3500 years ago, according to other good researchers, so is it possible Fomenko has been confused by this? The vastly different physics of our planet in the not so distant past may explain this confusion, which is not to say the "mainstream" version of history is correct; on the contrary. I am not an expert in these fields, but wanted to see if this idea could spark discussion.
Pants on fire?.......2007-07-19
Will people ever read before spamming? Yes, Jesuits could not rewrite world history alone, they had help. Anyway, Dr Prof Acad A.Fomenko does not point to jesuits as the driving force of world wide history manipulation in published volumes 1,2,3;, actually he barely mentions the poor devils. Check it with 'Search inside' feature, please. China is rarely mentioned either, in fact, Dr Fomenko is completely eurocentric. Right, his theory contradicts all mainstream schools of history, because in their actual state they are all built on blatantly erroneus chronology. You don't need a mysterious cabal (conspiracy) to falsify history, the falsification is its modus operandi. It is inherent to history(ians) to falsify (distort) events, as it is inherent to humans to boast as it is inherent to power (authority) to legimize itself by referrring to glorious past made to its own order. Dr Prof Fomenko and team have identified scores of instances of such manipulation in Russian, European, etc.. history, and delivered valid statistical proof thereof. His own 'reconstruction' is completely another story. Forget c14 as a valid method of dating. W.Libby has initially discovered a brilliant method of INDEPENDENT dating. Too bad, c14 method has become a joke after a forced marrige with dendrochronology with consensual chronological scale inbuilt. Radiocarbon method can't stand blind tests, but is so very productive as a rubberstamp.
Accepted History & Chronology Must Be Changed. .......2007-04-09
There is no doubt that history as most know it is a sham, & institution's version of History both University & Church is fradulent & inaccurate. Everything was established with an agenda, The real "Dark Ages" are now when we have access to incredible amounts of information past authorities & more important 'common folk' didn't have but our institutions & educators are slow to evolve because of what has ignorantly & arrogantly been taught for too long. This is on many subjects not just Chronology.
For anyone to question "Why would a Mathematician have anything credible to say of History?" The answer is from Dr. Fomenko's preface in the book: "It would be worthwhile to remind the reader that in the XVI-XVII century Chronology was considered to be a subdivision of Mathematics." These volumes could possibly be some of the most important works to date & should be read by everyone with an interest in History, especially professors & educators who have a duty to the public. I have read both books & must say that 'Chronology 1' has some very eye opening & revolutionary information. Even if these volumes are part true the implications are profound & opens the doors to further investigations & questions which must be done. I speak several different lanquages & must say the logic Dr. Fomenko uses with "inflection" of words & words being read from left to right in one region & right to left in another then written backwards, the removal of vowels & get down to basics of words, or different cities & locations having the same name etc. is correct. Vowel usage has always been optional & varied, actually complicating linquistics & study. The first thing one has to understand is that words never had a fixed spelling in history like we do now, the spelling of words was mutable & regional, as well as names & titles of people were vast, varied & changed, NOTHING WAS FIXED or understood linear. Matters of Life & Death as well as financial profiteering yesterday & today were & are made with ignorant, illogical & conspiratorial views of history & reality, it's time people get closer to the Truth & society collectively grow up.
Very Interesting.......2007-03-07
It is a good proposal and I believe it will mature into something even better in the future. I think it deserves to be read.
History as Science Fiction.......2007-01-10
Anatoly Fomenko has written a very intriguing book, full of pictures, charts, and computer 'proof' of his thesis: backwards of AD900 we don't really know what happened or when. Between AD900 and AD1600 there is more certainty, but there is still a lot of fuzzy ground, and things don't get reliable until we get past the 1600's where the printing press made it very difficult for the perpetrators of this timeline manipulation to change anything that had been committed to print. The Dark Ages did not happen. Books were burned for a reason. One organization has doubled the actual length of its existence by expanding the real chronology. Read why.
I had always wondered why Christ died about AD33 and yet men waited until the 11th century to form the Knights Templar, the Cathars, etc and go after the Holy Land by force. Why the 1000 year gap? Turns out there wasn't more than a 10-12 year gap and he proves it using astronomy. This also implies that the planet is not as old as we have been told, and current Christian and other creationist scientists are already championing that idea without being aware of Fomenko's book. The two groups, creationist scientists and the Russian mathematical analysts corroborate each other. Fascinating.
Of course, all this flies in the face of what we have been told traditionally is the 'proper' chronology of western civilization, and most readers will experience 'cognitive dissonance' in reading this book. It means that our history going backwards from AD1600 becomes progressively more incorrect and unreliable until it cannot be trusted at all... in the space of 700-800 years.
Naturally, the curious, open-minded reader will want to know WHO did this, WHY, and did any of the events we think of as really ancient ever happen?
Dr. Fomenko is a respected scientist/mathematician at Moscow State University who has already answered these questions to the satisfaction of his initially skeptical colleagues. Most of them are now believers, a few still refuse to believe (the usual diehards), and of course the western press has ignored Fomenko's work -- for obvious reasons when you read the book. The ones who perpetrated this chronology ruse have a lot to answer for. They are still with us. That's why this book is a well-kept secret.
I gave the book a 4-star rating because I was unable to check out some of his claims; those I checked were as he said. But if even 1/3 of his claims are true, this punches a big hole in what we think is our history, the meaning of western civilization, our educational process (for repeating the ruse as gospel), and the trustworthiness of the organization that perpetrated this ruse, well-intentioned or not.
This book relates to current research into a Young Earth paradigm, to John Keel's discoveries about our planet, and Fr Malachi Martin's insights (in his now out-of-print books). We are indeed sheep who are manipulated and kept ignorant -- for a reason. While knowing what these men have to say may be the "booby prize" (as in: 'what can you do with this knowledge?'), it will provide interesting reading. Didn't someone say: "...and the Truth will set you free."?? For you to judge if this book contains the truth.
Book Description
Twilight in the Desert reveals a Saudi oil and production industry that could soon approach a serious, irreversible decline. In this exhaustively researched book, veteran oil industry analyst Matthew Simmons draws on his three-plus decades of insider experience and more than 200 independently produced reports about Saudi petroleum resources and production operations. He uncovers a story about Saudi Arabia’s troubled oil industry, not to mention its political and societal instability, which differs sharply from the globally accepted Saudi version. It’s a story that is provocative and disturbing, based on undeniable facts, but until now never told in its entirety. Twilight in the Desert answers all readers’ questions about Saudi oil and production industries with keen examination instead of unsubstantiated posturing, and takes its place as one of the most important books of this still-young century.
Customer Reviews:
MATTHEW SIMMONS.......2007-07-28
Peak oil. That's the 100B$ question?
Technical analysis shows as that oil is in a bull market...
If this book is right 200$ oil is not science fiction, but rather reality.
Is that the end of oil or just another milestone
in the neverending story of oil bull and bear markets.
The future will tell...
It may be later than twilight in the desert.......2007-06-08
I heard so much about this book that I started to not buy it, thinking I knew what it said. I'm very glad I read it. I spent 30 years in the oil patch and I have to say that I think the author knows what he's talking about. He makes a very good case for Saudi Arabia's oil production being on the verge of a steep decline. For more on getting ready for very expensive oil see The Long Emergency.The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century
An important analysis, but too long by half.......2007-05-24
Saudi Arabia's economic foundations are increasingly fragile despite the run-up in oil prices during the past three years, driven in part by the disastrous invasion of Iraq. Simmons' work points to a looming problem - that Saudi Arabia has vastly overstated the country's oil reserves and production capacity. He gives sound technical analysis drawn from opinions of independent oil experts.
While it is an important book, the author could have covered the same ground in about half the 464 pages that he used.
For a succinct, fictionalized account of the types of non-economic problems besetting the Saudi regime and the future stability of oil markets, you might take a look at SAUDI MATCH POINT, published recently and available online from Blacksmith Books.
Lots of Food for Thought.......2007-05-10
Some have called Simmons a doomsayer. Others a prophet. With so many reviews of this book already posted, this one will be a bulleted list of some of Simmons' most salient points:
-The last big oil fields were found in the late 1960s and early 1970s, and most are in the middle east. This small part of the world produces most of the planet's oil. With little prospect of new oil discoveries, this is the 'twilight' phenomenon of the book's title.
-The U.S. is too dependent on foreign oil. This is not new. But even if we wanted to be self sufficient, our energy infrastructure is terribly outdated. Our average drilling rigs are 25 years old, and human drillers need 10 years of training--and we're not doing a good job of training new ones.
-Bottom line: we've used too much oil and paid too little for it during the past 50 years, while we've let our global energy infrastructure get too old. Now we all (China, Russia, Europe, and the U.S. in particular) need to work together to undo 50 years of mistakes.
That's Simmons' book in brief. It's thought provoking, although certainly many consider its arguments debatable. Despite one's position on available global oil supply (as well as global warming), in its most lucid and impassioned moments 'Twilight in the Desert' is a stirring call to action.
Well written & excellent analysis.......2007-04-29
Simmons presents a phenomenal analysis of Saudi Arabia's oil production (both their production claims & reality). In it, he presents the history of Saudi Aramco, walking you step by step through the production analysis, injecting definitions of key terms and technology primers along the way. This book presents a skeptic's view of the Saudi claims, and presents much research to back up his skepticism. One thing to note is that he never comes out and says that the Saudis are actually lying about production, but rather, suggests (rightly so), that they are not forthcoming about the reality of their situation, almost goading them into making public their production information.
I only have two minor complaints. First is that the reader is skewed into believing that the Saudis *cannot* substantially increase their production. This may be true, but the better claim would be to show that to do so would require substantial investments. Also, he never acknowledges that if the price of oil were to skyrocket, that market forced would make it quickly fall to a more reasonable level. Simmons is a financial analyst, and anyone who believes in market theory should acknowledge this, especially in a work this comprehensive.
Overall, this book will teach you more about how oil production actually occurs than anything short of a geology textbook, and presents an insight into the whole industry that is nothing short of a tour de force.
Book Description
The Travels of a T-Shirt in the Global Economy takes the reader on a fascinating, around-the-world journey to reveal the economic and political lessons from the life story of a simple t-shirt. Over five years, business professor Pietra Rivoli traveled from a Texas cotton field to a Chinese factory to a used clothing market in Africa, to investigate compelling questions about the politics, economics, ethics, and history of modern business and globalization. Using the story of the t-shirt to illustrate the major issues of the globalization debate, this uniquely entertaining business book offers a surprising, enlightening, and balanced look at one of the major topics of our time.
Prize or Award
- Business Book of the Year 2005, Finalist
- AAP Awards for Excellence in Professional and Scholarly Publishing, 2006
Customer Reviews:
Great Read.......2007-09-24
The book is a good read, since I am taking my international trade class, this is actually one of the require reading. If someone who is very liberal, or cuddle to grave type of mentality, this book does not offer the cuddly senstivitive that the faint hearted people are looking for. But it is quite realistic. If you can look pass the sweatshops and all, this is a good read.
Good, but light-weighted.......2007-09-11
The book is an advocate of free market and a defender of the globalization. Basically the author portraits non-market forces to be bad (examples: artificial constraint on the labor worker's mobility, international trading protection, and restriction of new technology applications). She also proposes that free trade is good (example: used apparels in Africa). It is an interesting angle with which to examine the globalization phenomena. By recognizing that there are non-market forces at play, one should, or so the author seems to suggest, attribute negative effects (such as sweatshops) to these forces and work on eradicating such forces. The ideal situation would be, as author implies, an absolutely free market operating in bringing everyone maximum benefit.
While there may be novelty in this theme, I do not feel that it merits all the details and tidbits as presented in the book. In fact, I find this book more like a research log than a final product. The stories and observations are definitely interesting and well-written. However it is not always clear where they lead to and what conclusion they are designed to support. I think the book can be reduced to 1/3 of its volume and still be able to make the same points.
On the other hand, many conclusions are not well supported. For example, about trade restrictions, the author argues that US quota systems impact how capital and labor flows in the world, and shape the economy of other countries. While it is obvious that all US trading partners would behave under the influence of US trading policies, more quantitative evidences are required to ascertain the extend of such influence. Such details are lacking in the book. As another example, the book stated that China lost more textile jobs than the US. Therefore, the US jobs are not going to China, but are just disappearing due to technology advances. Such claim is not well-supported, either. These two forces (technological advances and job relocations) can both contribute to the job loss. Their relative importance in the US cannot be indicated by how much textile jobs are lost in China. (In addition, the book does not point out that most Chinese factories operate at a lower technological level than their US competitors. Therefore, the job loss rate due to technological advance is not the same in US and China.)
On a more grand scale, the book fails to address the following issue, which is very relevant to the topics at hand. Globalization in essence is a process of integrating many previously local markets into a unified global market. Previously, each market has different states of balance and is supported by different Government infrastructure. After integration, capital, labor and product flow to maximize profit for the capitalists. Such flow disrupts all local balances before a global balance is reached. For example, the labor cost in the US today is reasonably high because most people have the choice of working as blue collar or white collar workers. Some people are willing to work for lower wage to avoid the extra training and investment required for white collar jobs. However the difference in wages cannot be too large. In China, on the other hand, the pool of unskilled labor is huge and opportunity of getting trained and advancing into white collar jobs is very limited. Therefore, the unskilled labor cost is very low in China. Moreover, the tradition and culture in China allows for lower safety standards and environmental standards as imposed by the Government. Now the current state of balance in the US is the result of adjustments over generations and is relatively optimal. In a global market, however, the US cannot keep its balance until the whole world reaches the same balance. In the long run, such re-balancing is not a big problem and is even desirable. However, in the short run, it brings shock to the US markets, and such shock is unevenly bore by the arguably most vulnerable population: the workers. To me, this is a very important issue in globalization. Economically, globalization is win-win and everyone eventually will benefit. Humanitarianly, however, there are people who suffer in the process and it is the duty of the society to help them and (God forbid) protect them.
Overall, I'd say that this is a very interesting and thought provoking book. I enjoyed reading it at my leisure. However, I don't consider it to be of the caliber of an Economics textbook.
Can you understand global economics?.......2007-07-05
It's all about the money, someone said. This wonderful book starts with the growing of cotton subsidized by the US government, the spinning and weaving in China, the T-shirt making in Bangla Desh or wherever, its wear in the United States, and its ultimnate fate as second-hand clothing in West Africa, the only free market found by the author.
A simple and elegant account of interconnected global economics, of who gets value, who adds value, and who gets the money. Fun to read.
Doesn't take sides; just informs........2007-05-14
An intelligent, fair minded, well-researched, and very interesting book. I was assigned to read it for a class, so I had to force myself to open it, but once I did, I had a hard time putting it down. The book is not only informative, it also reads like a good story. The author is an economics professor whose writing style is friendly and accessible. Rather than being yet another abstract book about the global economy, it's about how everyday people function in, and are affected by, the global economy. The book doesn't take sides, it just informs the reader about something that affects us all.
Good, casual read offering good perspective.......2007-01-15
This book takes a pretty balanced approach to questions of globalization by tracing how a T-shirt is produced, from raw materials to the folded T-shirt in a department store, to the used T-shirts that are reprocessed or go to developing countries for a second life. Probably everyone can learn something from this book, and the narration is fairly engaging (it was good plane reading for me). The writer tries to keep the book agenda-free, putting forth both economists' and anti-globalizers' perspectives and describing how, to a certain degree, an effective global economy needs pushes from both camps.
Book Description
An award-winning journalist breaks through the wall of secrecy to reveal the many astonishing ways Wal-Mart's power affects our lives and reaches all around the world.
The Wal-Mart Effect: The overwhelming impact of the world's largest company--due to its relentless pursuit of low prices--on retailers and manufacturers, wages and jobs, the culture of shopping, the shape of our communities, and the environment; a global force of unprecedented nature. Wal-Mart is not only the world's largest company; it is also the largest company in the history of the world. Americans spend $26 million every hour at Wal-Mart, twenty-four hours of every day, every day of the year. Is the company a good thing or a bad thing? On the one hand, market guru Warren Buffett estimates that the company's low prices save American consumers $10 billion a year. On the other, the behemoth is the #1 employer in thirty-seven of the fifty states yet has never let a union in the door.
Though 70 percent of Americans now live within a fifteen-minute drive of a Wal-Mart store, we have not even begun to understand the true power of the company and the many ways it is shaping American life. We know about the lawsuits and the labor protests, but what we don't know is how profoundly the "Wal-Mart effect" is shaping our lives.
Fast Company senior editor Fishman, whose revelatory cover story on Wal-Mart generated the strongest reader response in the history of the magazine, takes us on an unprecedented behind-the-scenes investigative expedition deep inside the many worlds of Wal-Mart. He reveals the radical ways in which the company is transforming America's economy, our workforce, our communities, and our environment. Fishman penetrated the secrecy of Wal-Mart headquarters, interviewing twenty-five high-level ex-executives; he journeyed into the world of a host of Wal-Mart's suppliers to uncover how the company strong-arms even the most established brands; and journeyed to the ports and factories, the fields and forests where Wal-Mart's power is warping the very structure of the world's market for goods. Wal-Mart is not just a retailer anymore, Fishman argues. It has become a kind of economic ecosystem, and anyone who wants to understand the forces shaping our world today must understand the company's hidden reach.
Customer Reviews:
Good cover of the topic.......2007-10-06
Provides a good coverage of a subject which is not obvious to the naked eye. May attenuate your shopping habits and the way you define a good deal. A must read for americans
Impact beyond price.......2007-09-24
Having spent the past 18 months researching and writing on the negative impact on the economy of poor customer service, go to ACSI research at University of Michigan School of Business, I have found that Wal-Mart's fanitical focus on price, and consumers that focus only on price are having a very negative impact on our country and society. Of all of the books I have read on Wal-Mart, Fishman presents the most detailed factual and insightful information on which to base an opinion on the impact Wal-Mart has made on our communities.
Balanced & Comprehenisve .......2007-09-17
Like many, I begrudgingly shop at Wal-Mart familiar with the arguments of it's negative impact on locally owned business's, and it's poor wages and benefits--------trying in vain to strike a balance between social responsibility and self-interest. It's always struck me as large version of the beloved "five and dime" where I bought my baseball cards growing up. I marvel at the low prices, and the sheer variety of merchandise. Fishman has permanently purged me of the that nostalgia. His backstory on Wal-Mart is utterly convincing in it's pernicious effect on our economy. He ably tells the story of Wal-Mart's rise with it's hyperfocus on pricing. But he's after something bigger here, and that's corporate secrecy. Like many large corporations, Wal-Mart is a closed and secret society. Consumers are robbed of the information that would assist them in identifying the true cost of consumption. Fishman is saying that the rise of the mega-corporation, with their ability to dominate a whole sector of the economy, is both anti-free market and anti-consumer. Though vague, he argues that we must consider stronger governance and regulation. This is where his book left me wanting. I wanted to know what exactly that would look like. That said, this is a well-researched, balanced and important book for our times.
Costs of everyday low prices.......2007-09-16
Wal-Mart's obsessive focus on a single core value - delivering low prices - created the largest and most powerful company in history. Employing over 1.6 million people, Wal-Mart is so large that it can often defy the laws of supply, demand and competition. However, the same core values are also responsible for low wages, enormous pressure on suppliers, cheap quality and continuous off-shoring. Charles Fishman provides an insightful look at the growth and the careful balancing act that Wal-Mart has engaged in most recently: trying to find profit while moving beyond the simple slogan of `everyday low prices'. Given the scarce resources available on the company, `Wal-Mart Effect' offers a great overview of the largest corporation to date.
Wal-Mart---Made in China.......2007-09-02
An excellent book on the behind scenes of what shopping at Wal-Mart means to America and the world. Wal-Mart has sold out its fellow Americans for pure greed on its own behalf. Thousands of jobs lost to over-seas countries to cut costs and to bully the suppliers into submission. Everyone should think twice before shopping at Wal-Mart. A good DVD on this subject, "Is Wal-Mart Good For America"? by PBS Frontline.
Book Description
Globalization is not a new phenomenon, nor is it irreversible. In Gobalization and History, Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914--the first great globalization boom, which anticipated the experience of the last fifty years.
The authors estimate the extent of globalization and its impact on the participating countries, and discuss the political reactions that it provoked. The book's originality lies in its application of the tools of open-economy economics to this critical historical period--differentiating it from most previous work, which has been based on closed-economy or single-sector models. The authors also keep a close eye on globalization debates of the 1990s, using history to inform the present and vice versa.
The book brings together research conducted by the authors over the past decade--work that has profoundly influenced how economic history is now written and that has found audiences in economics and history, as well as in the popular press.
Customer Reviews:
Good Data, Wrong Bias.......2000-04-03
I would agree that this is a very good book in terms of presenting what happened in the 19th century Atlantic economy. I do have one critical observation. The authors blame the collapse of globalization on the lobbying of particular industries; thus setting up the argument that general gains from trade were lost to special interests. This is in accord with their belief that globalization is a good thing. As an economist working on these issues for many years, with experience in government as well as academics and the private sector, I have to disagree. Clearly, governments need to rally constituents to support policies. Yet, from our own Alexander Hamilton to Germany's Otto von Bismarck, and a host of others, states had a strategic vision of what was in the national interest for which they sought support. This is the origin of the "iron and wheat" alliances that O'Rourke and Williamson credit with undoing "free trade" on the continent. This was a strategy of national economic development and strategic independence under which the major powers were able to successfully increase their economic growth rates. For evidence of this I would recommend Paul Bairoch's book Economics and World History (Univ. of Chicago, 1993). As the great economic thinker Joseph Schumpeter observed "the consistent support given by the American people to protectionist policies...is accounted for not by any love for or domination by big business, but by a fervant wish to build and keep a world of their own and to be rid of all the vicissitudes of the rest of the world." This is true of most people, most places---which is why the current fad of globalization will not last either.
Economic History Made Delightful.......2000-01-24
This book is not an easy read. Especially if you are not interested in economics and lack basic economics terminologies, you'll certainly have difficulties appreciating this book the way it should be. It is, however, an tremendously insightful story of the evolution and devolution of globalizm in the world in the late 19th century and early 20th century. It, in rigorous details, shows how an earlier period of globalization in the late 19th century was self-destructed by the very same forces that established it as a significant force in the global economic system. It reflects how easy it is to lose the benefits of economic globalism which we today often take for granted.
Interesting history 19th cent. Atlantic globalization.......2000-01-12
I am an economist working on globalization issues, interested in history and economic history. I found this book an excellent study that puts globalization discussion in historical (19th century) context, a period of large international capital flows and even larger human capital flows. Th study uses data on these mass movements in production factors to empirically test/uses the standard international trade Heckscher Olin model on income and factor price distribution in trade. It shows that these mass movements had indeed measurable effects on income distribution following some of the model predictions. Problems of globalization in economic terms are indeed linked to the income effects of several groups in the economy following the opening up to increasing trade, investment and migration flows. All too often these discussions are marred by lack of data and lack of historical awareness, and i found this study filling a real gap. It surely will be contested but i found the analysis interesting and well-written. Recommended!
Customer Reviews:
Overrated and full of hyperbole.......2007-07-31
The authors have written a book with a clear-cut agenda--to force American students to recognize and overcome their evil "Eurocentric" biases. (The word "Eurocentric" too often today is code for racist.) While I do agree that there are other histories, other perspectives, trashing Europe, Europeans, and by extension Americans, to build up an argument for knowing about the Chinese, Aztecs, and Africans fails to impress. This book is the textual equivalent of shouting the loudest to gain the greatest attention, and that very hyperbole makes for a very bad book, both from reading and teaching perspectives. Furthermore, Pomeranz, who studies China, seems to be under the impression he's the only one who knows anything about China and the rest of us are totally ignorant on the subject. Anybody who has read ANY Jonathan Spence or Patricia Ebrey or John King Fairbank knows better--in every sense of that world. For India, read PJ Marshall, Barbara Stoller, or Richard Barnett; Africa, John Thorton and Linda Heywood, Philip Curtain, or David Northrup. Frankly, THE WORLD THAT TRADE CREATED is a polemic, not a history. One would more profitably spend time with Curtain's THE WEST AND THE WORLD.
The world that Pommeranz and Topik invent.......2007-05-07
Fun reading for those that enjoy economic history. The problem is that it is impossible to know what is real.
For example, when talking about the euro, they say that by 2003 "pesos, francs, and marks had become things of the past." That is, Messrs. Pommeranz and Topik confuse pesos (used in several Latin American countries) with pesetas (the vanished Spanish currency). A superficial mistake, no doubt, but one that any well-informed student would avoid making. One can only wonder about the world the authors invent, or get superficially or deeply wrong, when they travel further into the past.
fast and loose with the facts.......2007-04-02
Written by college professors, "The World that Trade Created" tries to sound like a textbook, but is in reality a fictionalized novel that uses history as its vehicle.
Warning sign: there are no footnotes. The book contains thousands of quotes and factoids, but the authors give no indication where they came from. This intellectually dishonest technique keeps the reader from determining for themselves whether the "facts" presented are reliable, unreliable, or made up.
Yes, sometimes stuff is simply made up. Example: "Remote Andorra is now in the center of the world." (p.214) This is just nonsense masquerading as fact. I could find no similar description of Andorra anywhere else. Every other account I found calls Andorra "remote", the opposite of central. Andorra is not alone in offering tax advantages or relying on tourism, so it cannot be central metaphorically. Here and elsewhere, the authors simply make a fanciful statement as if it were fact.
"The World That Trade Created" is at best a loosely organized, fictionalized version of trade history. If you want a revisionist view of history told in People Magazine format, this is the book for you.
only a stiff could possibly find this book remotely interesting.......2006-02-21
After reading this book and writing this review, I considered reporting it to the U.S Consumer Product Safety Commision, because this book is dangerously boring! I found no new information relevent to anything important. In addition, I believed that certain parts were extremely repetitive, and the topics were dull. The AP teachers may find this book interesting, however, they obviously do not care how their students will react to reading such a dry group of essays. I would highly not recommend this book to anyone, and if you do have to read it for AP World History, good luck.
Anxious.......2006-02-19
Reading this book just makes me exremely anxious... I don't know why.. Maybe its because it just talks about a bunch of stuff that I'm already aware of.. i would rather opt for an interesting story that shows this rather than a bunch of essays. However, if you're into trade and want to sharpen up your knowledge on it, this book is for you.
Book Description
"Impressive... This is an evidence-based bottom-up account of the realities of globalisation. It is more varied, more subtle, and more substantial than many of the popular works available on the subject." -- Financial Times
Based on a five-year study by the MIT Industrial Performance Center, How We Compete goes into the trenches of over 500 international companies to discover which practices are succeeding in today’s global economy, which are failing –and why.
There is a rising fear in America that no job is safe. In industry after industry, jobs seem to be moving to low-wage countries in Asia, Central America, and Eastern Europe. Production once handled entirely in U.S. factories is now broken into pieces and farmed out to locations around the world. To discover whether our current fears about globalization are justified, Suzanne Berger and a group of MIT researchers went to the front lines, visiting workplaces and factories around the world. They conducted interviews with managers at more than 500 companies, asking questions about which parts of the manufacturing process are carried out in their own plants and which are outsourced, who their biggest competitors are, and how they plan to grow their businesses. How We Compete presents their fascinating, and often surprising, conclusions.
Berger and her team examined businesses where technology changes rapidly–such as electronics and software–as well as more traditional sectors, like the automobile industry, clothing, and textile industries. They compared the strategies and success of high-tech companies like Intel and Sony, who manufacture their products in their own plants, and Cisco and Dell, who rely primarily on outsourcing. They looked closely at textile and clothing to uncover why some companies, including the Gap and Liz Claiborne, choose to outsource production to foreign countries, while others, such as Zara and Benetton, base most operations at home.
What emerged was far more complicated than the black-and-white picture presented by promoters and opponents of globalization. Contrary to popular belief, cheap labor is not the answer, and the world is not flat, as Thomas Friedman would have it. How We Compete shows that there are many different ways to win in the global economy, and that the avenues open to American companies are much wider than we ever imagined.
SUZANNE BERGER is the Raphael Dorman and Helen Starbuck Professor of Political Science at MIT and director of the MIT International Science and Technology Initiative. She was a member of the MIT Commission on Industrial Productivity, whose report Made in America analyzed weaknesses and strengths in U.S. industry in the 1980s. She lives in Boston , Massachusetts.
Customer Reviews:
Nice one.......2006-02-26
A real page turner, plenty of insight into outsourcing and globalisation, very impressive piece of work!
We Should Not Accept Second-Best Ever!.......2006-02-20
In the boom years of mass consumption after WWII, the vertically integrated companies flexed all their muscles. Giants like RCA, IBM, Levi Strauss, and Volkswagen coordinated all the functions from research and development to distribution within their own control in the company. "For the first time in history, a great number of complex manufactured goods, like automobiles, refrigerators, canned foods, bicycles, and radio and television sets, became affordable for people with ordinary earnings."
In this book, they attempt to report on what the team learned about constraints and strategic choices in the global enonomy. "As far as I know, this is the first large-scale analysis of globalization that starts with a view from the trenches -- the people under great pressure to respond to new challenges in hundreds of companies around the world." If all manufacturing leaves America, can research, design, and services be far behind?
Firms locate production abroad or contract out to foreign manufacturers to get the cheap labor. It doesn't matter that the quality is poor and not up to standard. "Finding workers at lower wages is the main concern." Who makes Dell computers and where? The December 19, 2004, 'New York Times' article quoted Kevin Rollins as saying that "Dell makes them in the United States." They even moved a production group to Nashville, Tennessee. "None is outsourced; none is made in other countries and shipped in." It has been pointed out that Dell laptops are assembled abroad." In 2005, 'Fortune' named Dell "America's most admired company." Ms. Berger maintains that "the only operation that take place in Dell factories in the United States are those involved with final assembly -- in other words, screwing in the parts and burning in the software options selected by the customer" and that Dell outsources all the manufacturing of the components which are included in its computers.
Lenova Group Ltd. may be the world's third-largest computer maker after acquiring IBM's personal computer business, but it's a household name only in China. It provided an Internet cafe in the Olympic Village at Torino with free access to thirty-four computers for email service for the athletes and trainers. NBC's Olympic crew leased 1,000 Lenova notebook and desktop computers. Because of this exposure and the expensive sponsorship, its aim is recognition as a worldwide brand.
Global trade has railroads humming again. The right train of thought can take you to a better station in life. Norfolk Southern is leading the way. As manufacturing moved abroad, more finished goods needed to crisscross the country from ports. In the 20th century, train engines, railroad cars, and thousands of miles of railroad tracks were all Norfolk Southern needed to reach prosperity. With the assistance of University of Tennessee as a key management tool to a broader understanding of the global logistics economy, Norfolk Southern is now more integrated in the global supply chain.
Many of their trains are reassembled at the John Sevier Yard where my dad worked in the Fifties for the Southern Railway. Norfolk Southern who bought them out operates in twenty-two states and Canada, employing 30,000 people with Knoxville as a key hub because of its location and the CSX local Railroad. Sourcing of parts and materials is more global not only on a 21,000 mile cross-country route, but the Asian products headed to the Midwest will use Eastern ports like Norfolk, Virginia.
At present, six major U. S. ports including Miami, Florida, are being used by Arab Emirates businesses which merged with a subsidiary of a London-based firm purchased by Durai Ports Wrold for $6.8 billion to allow direct access to American soil. Medicare is already substituting generic medicines manufactured in Israel and Germany in its new drug "insurance" whereby the American patient has no say in the matter. And it is not free! Competing globally for manufactured goods is one thing but putting the American population, especially the fragile elderly, at risk for chemical warfare -- or national security -- is another matter.
Previously, I reviewed Thomas Friedman's THE WORLD IS FLAT which this author takes a differing opinion. She says that he claims "talented individuals from all over the world are now competing on a level playing field." She advocates that our world is still round. When MIT came out with another study, "Made in America" in 1988, "we learned about senior corporate delegations making visit after visit to Japanese plants to fathom the secrets of Japanese success." The Toyota and Nissan plants were built in Smyrna, Tennessee, and Lexington, Kentucky, and Detroit lost some of its automobile production to Spring Hill, Tennessee. Now, the digital companies have decided on Middle Tennessee to relocate.
This is a five-year study by a dozen (nine men, three women) MIT Industrial Performance Center Globalization Team of which the author was a member. She teaches political science at MIT and was also in the group which produced the earlier study, "Made in America." Established in 1991, the IPC is headed by Richard K. Lester. There is a group picture on page 335 of the illustrious group which has now decided "How We Compete." I say, we don't!
They Can't See it Coming!.......2006-01-21
More than two million jobs disappeared from the U.S. between '01 and '04 - half a million in high-tech industries alone. Further, Steven Roach, chief economist at Morgan Stanley, estimates that there have been about 8 million fewer jobs in the current recovery than would have been expected from prior history, and most of the new jobs come with low wages and few benefits.
Berger knows these numbers have caused a rising fear that no American job is safe from low-wage countries. To discover whether these fears are justified, Berger and a group of MIT researchers visited over 500 workplaces and factories around the world. Their conclusion is that cheap labor is not the answer.
This conclusion is currently true in some instances; however, the authors fail to see that cheap labor (the "China price") is increasingly dominating decision-making - both in services and manufacturing. Jobs that formerly were not candidates for outsourcing (finance, market research, industrial design, computer systems design, paralegal research, reading X-rays) now are; strategies that previously fought off Asian alternatives often fail to work several years later as China and India adopt new techniques; in fact the authors often cite previously highly successful American companies that subsequently succumbed.
G.M. and Ford are additional examples where this may yet happen - despite years of world-leadership. Part of their problem was believing that they could let Japan have the low-cost market - this worked for awhile, but now Toyota et al have applied the lessons learned in that market segment, and leveraged their distribution etc. systems on to producing competitive SUVs and innovative hybrids as well. Meanwhile, Toyota sees Korea and China as its most formidable future challenges, and despite its vaunted Toyota Production System, maintaining direct control throughout all stages (so does Microsoft, but that hasn't kept it from substantial outsourcing to India), and co-locating with suppliers, is seriously looking at China. Remember Visteon and Delphi (Ford and G.M.'s former parts arms)? Spinning them off was supposed to encourage more companies to utilize them, and it worked - for a time. Today's successes are far too often ephemeral!
To be fair, the authors also point out that studies and analyses on the impact of outsourcing reach conclusions all over the map. However, I think the most accurate (and certainly highly credible) conclusion is that of former MIT economist (and Nobel prize-winner) Paul Samuelson - globalization should increase the world's total income and average standard of living, but there's no reason to think any particular country or region's advances will outweigh its losses.
Berger, et al, also go on to recommend substantially improving American education. The "bad news" is that this has been tried for at least 30 years, with little impact. Further, others have determined that Asian IQs average about ten points over that of American whites. Regardless, what difference would improving education make, even if we did achieve equality with Asian outcomes, when the workers are paid but a fraction of Americans?
Berger does mention the rationale for foreign corporations choosing to continue building millions of cars in the U.S. - laws requiring U.S. content. Toyota, Nissan, Mercedes, BMW, Subaru, VW and others have built large plants in the U.S. as a result of this act. However, the authors fail to recognize this as a potentially strong and viable overall solution to the hollowing of America.
Another important omission is the problem of outsourcing large numbers of jobs to illegals within this country - in fact, Berger et al reference a situation involving such as a solution! Estimates are that AT LEAST nine million illegals from Mexico are here - depressing wage levels and stealing jobs that Americans formerly did. And what about the large number of Canadian truck drivers within the U.S. - soon to be augmented by Mexicans. (There are NO American truck drivers in Mexico that I know of, and very few that I've seen in Canada.) Then there is the self-inflicted problem of L1 and H1B visas bringing hundreds of thousands more, albeit legally. While technically not "outsourcing," the impact of each of the preceding is the same.
Another thought from some "experts" is that sending off the lower-level jobs allows the U.S. to focus on "higher level" jobs such as innovation. That's ridiculous for at least two reasons: 1)Manufacturing, for example, involves more than drilling, welding, molding, etc. It also involves design, production management, production layout, machine design, etc. These are NOT low-level jobs, nor is operating highly technical equipment. 2)How are all the displaced workers going to become eg. biomedical researchers, rocket scientists, etc.? (Oh yes, the Chinese and Indians are moving into those areas also; I have encountered a number of Americans who took recommended training in new areas after being "outsourced" from a long-term occupation only to become outsourced again.)
Also missing from "How We Compete" is any discussion and recommendation on healthcare. Auto manufacturers repeatedly claim that having to pay healthcare for their employees adds $1,000+ cost to each car - creating government-funded universal healthcare like other nations would help save jobs in America.
"How We Compete" address an important topic - however, its focus on CURRENT approaches (vs. trends) results in conclusions that are seriously over-optimistic. (Inadequate analysis by Berger and others helps explain the maze of contradictory conclusions on this topic; political and economic motivations of short-sighted clients are additional drivers.) Eight million jobs here, nine million there, etc., etc. - it adds up and hurts a lot. Meanwhile, America's competitive status declines daily and our government does little or nothing in defense.
Book Description
Provides a sound theoretical and practical foundation for understanding the global economy in an era of shifting borders, restructuring economies, and regional realignments. The book covers population, natural resources, and international trade. It combines theory with geography in addressing growth, distribution, and development, and explains their impact on international business. Portrays recent geopolitical changes and uses real-world examples.
Promotes a greater appreciation of international and U.S. economic issues through a global perspective while highlighting world trade. The fifth edition of World Economy: Resources, Location, Trade and Development has been revised to include a chapter on consumption. It emphasizes global interdependence; flexible manufacturing; the globalization of business, culture, environmental problems, and telecommunications; and the transnational corporation. It discusses the declining roles of traditional factors of production and provides the latest country-by-country economic data for all of the world's major economies.
An essential reference for any professional or business owner doing business in the world economy.
Customer Reviews:
Maps Need Some Revisions.......2007-08-03
This was a book a professor assigned for an Economic Geography class. We got the most use out of the maps throughout the book. The data was useful, however, the color sequences in the maps were not logical so it made them a little confusing to interpret untill we got used to the "mixed up legend". It was the class joke for the semester.
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