Book Description
"A fascinating insight into the lives of global teens, with clever tips and very clear steps to help any marketer find the way through to the hearts and minds of today's youth population." -Roy Edmondson, Presence and Publicity Director, Levi Strauss & Co.
"Elissa Moses's book does the best job I've ever seen of breaking down, bite by bite, a look at teen culture in a range of countries and across a range of industries. A bible for anyone doing business targeting global youth." -Marian Salzman, Worldwide Director, Brand Futures Group
"Insights from The $100 Billion Allowance have already helped Philips better connect to global youth." -Cor Boonstra, President, Royal Philips Electronics N.V.
"Anyone interested in globalization has to read The $100 Billion Allowance. Elissa Moses's new book stands alongside The Lexus and the Olive Tree by Tom Friedman as a twenty-first-century globalization guidebook." -Joseph T. Plummer, Executive Vice President, Director of Brand Strategy on Global Accounts, McCann Erickson Worldwide
"Elissa Moses is one of those rare shrinks who knows how to actively listen and exactly when to ask why . . . but she never stops there. Elissa offers the clear explanations for action that any consumer-oriented company always needs." -Gerard Dufour, Founding Partner, BLIS, former Senior Director of Marketing, Royal Philips Electronics N.V.
"Elissa Moses feels the pulse of the global teen market and finds it vibrating with energy and bursting with potential for the astute marketer." -Arthur Selkowitz, Chairman and CEO, D'Arcy Masius Benton & Bowles
"The $100 Billion Allowance is filled with some wonderful insights for all marketers . . . and parents." -Ron Berger, Chief Executive Officer, Messner Vetere Berger McNamee Schmetterer/EURO RSCG
Customer Reviews:
Fascinating and well written.......2001-04-09
Here's a book that should be on the desk of every person in marketing or advertising any place on the globe. Ms. Moses has penned a fascinating first-person account, describing the burgeoning teen market. The future for all multinationals will be trying to market into the Third World's teen market. Elissa Moses shows you how.
teenagers need to read this!.......2000-07-03
teenagers need to read this to find out just how stupid they are. we all go through this moronic period in life, when market forces prey on our immature and unsuspecting minds. it usually starts at 15, but for some it finishes at 30. we are preyed upon by a constant bombardment of commercials which subliminally discourage us from investing in our future. MTV warps our brains and we forgo our savings on overvalued and hyped up trinkets that help us conform to nonconformity. we end up with racks of CDs and a cuboard full of designer shoes, but no downpayment for our apartment when we realize that life is serious. there aught to be a law against this!
Book Description
Macro Trading and Investment Strategies is the first thorough examination of one of the most proficient and enigmatic trading strategies in use today - global macro. More importantly, it introduces an innovative strategy to this popular hedge fund investment style - global macroeconomic arbitrage.
In Macro Trading and Investment Strategies, Dr. Burstein presents, with examples, the framework for traditional global macro strategies, then shows how to use macroeconomic mispricings in global financial markets to design innovative global macroeconomic arbitrage strategies for trading and investing. Packed with revealing trading case studies, examples, explanations, and definitions, this comprehensive work covers:
* Global directional macro, long/short macro, and macroeconomic arbitrage trading and investment strategies
* Causes of macroeconomic mispricings in markets; tackling secondary macroeconomic variables in trades
* The importance of technical timing in macro arbitrage
* Volatility of macro arbitrage strategies versus volatility of relative-value strategies
* Mispricing opportunities due to the effect of the Asian crisis on global markets
* Macro arbitrage of the EMU convergence mispricing in equity markets
* Mispricings of retail sales, GDP, industrial production, interest rates, and exchange rates in stock markets
In-depth and timely, Macro Trading and Investment Strategies covers an area of intense interest to today's trading and investment community and shows new opportunities. It is invaluable reading for those seeking new ways to tackle today's volatile global markets.
Gabriel Burstein (London, UK) heads Specialized Equity Sales & Trading at Daiwa Europe Limited, where he set up the department to sell European equity products to hedge funds.
Customer Reviews:
Not really that good..............2006-05-27
When I first saw this book and ordered it i was very excited to learn more about the intricies of macro trading. After reading about 1/2 of the book I could tell I just wasted $40. I found that the authors comparison of two different variables on 1 graph with 2 Y axis was statistically wrong. You cannot compare two different variables on absolute movement at all, espically when you are using two different scales on the same graph. Using this method of comparison sun-spots and the S&P500 have correlated. The correct way to do this is by comparing percentage movement of the two different variables. By doing this with my previos example there is no real correlation, jsut as one would think. I would assume that the same would occur for 1/2 of this books graphs.
All in all, buy, Market-Neutral Investing : Long/Short Hedge Fund Strategies by Joseph G. Nicholas, You'll apperciate it alot more and it isn't flawed like the book on this page!
Not advanced - not simple.......2004-04-12
I cannot be overly critical of this book merely due to my own preconceived notions of what it might be. I was expecting some sort of more hands-on version of Soros' "Alchemy". What I got was nothing of the kind. The trade examples are very simplistic and the book poorly constructed, laid out, and written. The entire work could be 2-3 chapters in normal prose and outline. The strategies discussed were somewhat advanced strategies that were described in an extremely simplistic manner. Somewhat akin to Sesame Street giving instructions on how to manage an options book. I was sorely disappointed as I know the author is capable of delivering a much more intriguing work.
Titles might be misleading by Tevfik Aksoy.......2000-02-14
The book is based on ex post iteration of events and investment strategies, which lacks the necessary foundation of macroeconomic introduction. It requires extensive knowledge of macroeconomics and finance in order to grasp (or digest) what the ideas behind strategies are. Clearly not for a beginner but I would not recommend it for an experienced fund manager at all. I found most of the examples and strategies highly simple.
Ready for a peek at the big time?.......1999-08-13
Feeling brave? If you are, crack Burstein's book and have a look at how some serious big-time money works. Of course, by defintion this is not the majority of market participants so this is not a "popular" read.
But scientific truth, like a successful P&L statement, is not democratic. Either it makes money or it does not. And if does, you can bet that a few will get it right but most won't.
As an arbitrageur, Burstien's book is an excellent unfair advantage to those who are able to heed its message.
Christopher MAY - author Nonlinear Pricing
Book Description
"Paul Temporal shows how the fundamental principles of brand building are transferable to the Asian environment. A diverse collection of Asian caselets should convince us that the 21st century will see the emergence of more Asian regional and global megabrands." Professor John A Quelch Dean London Business School "Branding in Asia addresses an unusual situation in Asia - how is it that a region which has such high brand appreciation, produces few international brands of its own? The author's analysis of actual case studies, ranging from powerful global brands to local companies, illustrates his points clearly. This, coupled with a sensitive understanding of the cultural differences in the region makes it an excellent reference for everyone working with brands." Felix Herrnberger President BMW Asia Pte Ltd "Paul Temporal succinctly dissects the often mystical qualities that make up a successful brand. Too often Western insights, models and case studies are applied arbitrarily across the globe, it is so refreshing to see branding tackled from a purely Asian perspective. An invaluable reference book and eminently readable, the step-by-step style and volume of relevant cases and examples makes this a must have for any manager in Asia looking to embark on creating his own regional or global brand." Ray Dempsey Area manager McCann-Erickson South East Asia
Customer Reviews:
FIRST BOOK TO SPECIFICALLY ADDRESS BRANDING IN ASIA.......2000-07-31
One of the ways to achieve sustainable growth in any market is a recognisable brand name. While many Western companies have successfully developed international brands, Asian companies have been slow to follow suit. How is it that Asia, a region that has such high brand appreciation, produces so few international brands of its own?
In this groundbreaking book, Asia's leading brand architect addresses this unusual situation, explains the fundamentals of branding and shows how companies can use them to achieve outstanding performance. Containing over 20 case studies of leading Asian and Western brands, this book is packed with illustrative examples, advice and exercises.
Branding in Asia is an invaluable book that is a must for anyone responsible for business growth in the 21st century.
Dr Paul Temporal is Asia's leading expert on brand creation, development and management, having lived in the region for over 14 years. He has worked with leading companies and governments, and is well known his results-oriented and hands-on approach. He is the author of Corporate Charisma.
exceeded my expectations wonderfully.......2000-06-08
My expectations were mainly about redressing the balance on geographical origins of brand case studies. Our literature suffers from being far too US centric. This imbalance is unfortunate for several reasons including: - living in the US for the last 2 years has taught me how atypical the US consumer is of any other I have met in 25 countries that I have worked - from the oldest brand models (which assumed brands were advertising led) to the newest ebrand models, there's huge share of voice reflecting the culture of corporate America and the case theories of its business schools. These powerful systems shouldn't be unquestioningly exported as being de facto paradigms for local organisational excellence or social value.
My expectations were exceeded because this book - unlike most on the brand which start with chapters on advertising and marketing communications - opens up from the very beginning on the leadership importance of branding. Here we are on pages 1-2: "Strong brands endure many challenges. This is becoming increasingly relevant in an era of unprecedented change, upheaval and uncertainty. This change is strategic, unlike the incremental change of more predictable times, and therefore requires a strategic response. Brand building is exactly such a response. If successful, it can be the strongest weapon in a company's armory and the best guarantee of corporate survival. The challenge that lies ahead is that of change management.
And by page 4, we're invited to join in a cataloguing of worldwide changes to marketing: -the breakdown of market boundaries -globalization and the development of global brands -increasing market fragmentation -product diversity and shorter life cycles -greater customer sophistication -digital business -economic instability and market volatility
So this book flies, and yet at the same time when you read it you will continually pick up useful advice whether your brain is looking for practical or academic stimulation. For example, the book closes with an appendix of very worthwhile brand exercises, and it resonates with case studies, 24 in all. Each case study ends with a summary of that brand's strengths.
This book will be good for you whether this is the first one you read on branding, or as in my case the twenty first, including two of my own. For example, I learnt a lot from Temporal's consistently strong advice on brand values and the way they shape corporate personality on its outside and inside.
For Asian Companies with global aspirations........2000-05-05
Few Asian companies have been successful in developing international brands. It is now a sophisticated process that puts together and sustains a complex mixture of local and international attributes and values , something that is tangible.Its interesting how Temporal have chosen the different products ( over 20 )from leading Asian and Western brands to show good examples of how companies have used the fundamentals of branding to achieve global success. He has provided illustrative examples, techniques , exercises and invaluable advice for any company in Asia regardless of size that strives for more than being just another local household name.
a case study of international brands in asia.......2000-04-30
Asian market is unique with their traditional cultural. Brands should be though for leading in this area. This book must be read for the company who : - want to build a strong image - want a competitive advantage - struggle in asian market
Average customer rating:
- A Textbook Example of a Bad Textbook
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International Economics: Global Markets and Competition
Henry Thompson
Manufacturer: World Scientific Publishing Company
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Book Description
This text integrates the microeconomics of trade with concepts from open economy macroeconomics. The emphasis is on the powerful forces of international competition and the limitations of government policy.
Economics began with a political debate over tariffs and the politics continue. Domestic industries lobby for protection against foreign competitors and for export subsidies. Government policy makers favor their pet industries in return for lobby money and votes. Meanwhile, other industries lobby for free trade. Governments worldwide tentatively negotiate free trade agreements while international financial markets determine the effectiveness of their fiscal and monetary policies. Wages, capital returns, and national income rise and fall with international commerce.
The text covers these issues of international trade and finance. The trade theory is based on partial equilibrium market analysis, constant cost and neoclassical general equilibrium, the factor proportions model, and various theories of industrial organization. The text fully integrates concepts from international finance, and a new chapter for the 2nd edition develops the basic models of open economy macroeconomics.
The presentation is centered on graphs that use realistic numerical examples making the theory easier for students to grasp, especially when combined with general algebraic and graphic presentations in the classroom. The text does not assume previous courses in intermediate theory or calculus but the theory is completely developed. Numerous exercises that can be presented by students give them confidence in using the theoretical models and concepts.
Over 250 boxed examples illustrate the theory, many with visually descriptive charts and plots, making the text excellent for MBA courses. The text is concise in its presentation style. Students enjoy its clear straightforward style and instructors notice the difference on exams.
Customer Reviews:
A Textbook Example of a Bad Textbook.......2007-01-29
I really feel for anyone who is assigned this book as an introduction to world economic realities, because newer students won't have the comparative background necessary to see how conjectural and deficient it really is. The first problem is the parched writing style, with barely comprehensible formulas parading by in prose form, along with an interminable flood of acronyms and technical terms that are often formally defined well after they first appear in the text, if at all. Also, watch out for the first edition of this book, which was flooded with horrendous typos, including not just annoying prose glitches but also ruinous mathematical impossibilities like "50-30=10" or "-135%." (The more recent second edition seems to have corrected many of the typos, but beware anyway.)
Beyond such readability issues, this book epitomizes the weaknesses in the modern teaching of economics. While the theories are sound and need not be discredited, the student must remember that the focus of economics on sheer numbers is either a myopic denial of real-world politics, or a political stance in itself - resulting in an artificial and forced veneer of impartiality. This book is badly damaged by its incessant cheerleading for the unproven panacea of free trade, and other sacred economics cows like perfect competition and deregulation. None of these are laws as economists would have you believe, but theories based on ideology and fragmentary real-world evidence. Granted, the statistics supporting the advantages of free trade and deregulation are fairly convincing, but this assumes a mythical clean slate with no culture, politics, or religion, or the wide disparities in the financial power of the long-established players. Additionally, this book repeats the belief that capital and labor (sometimes known as "human beings" in other fields) should and can move freely around the world. But it contains not a single word on the inefficiencies and shortages of information needed to make such movements possible, while the political realities of international and intra-national matters are only momentarily considered in one chapter.
Otherwise, this book simply parrots the economic belief in perfectly functioning laws that are being held back by poor human decisions. The regular reward for the reader's time is simplistic blanket statements that purport to solve perennial social problems - with fantastical pronouncements like "the ultimate gains from free trade will make the transition costs worth paying" or "migration tends to eliminate international wage differences." Anyone searching for true knowledge of the causes and effects of social trends will need to mix economics with political science and other disciplines. Those who are only required to study this book will get a fragmented and distorted take on the disconnection of economics from reality, via writing that is myopically convinced of its own infallibility. [~doomsdayer520~]
Book Description
This is a revision of the business of global banking. With the increased globalization of the world economy few sectors are the equal of banking and financial services in dynamism or structural change. Roy C. Smith and Ingo Walter assess this transformation-its causes, its course and its consequences. They begon by examining international commercial banking, including the issue of cross-border risk evaluation and exposure management, and the creation of a viable regulatory framework in a global competitive context. hey then undertake a parallel assessment of international investment banking, linking the two by means of a bridge chapter. Finally, they focus on the factors that determine winners and losers in these markets and explore the problems of strategic position and execution.
Customer Reviews:
So, you want to be a Banking Expert? ALWAYS: Ingo Walter.......2003-01-18
I have met Ingo Walters in 1988 when he gave a brilliant talk to hundreds of CEOs form the Banking Industry in Europe. Everyone was amazed at how brilliant Ingo was. He is an authentic expert in European and US Banking. In his book "Global Banking" any serious student or better yet Strategic Management Consultant can learn Operations, Strategy, IT, Treasury, and Risk Management from different parts of the world. Highly recommended for Upper Management and CEOs of Regional Banks who need a pathway to easily transition into being a World Player. Learn through this book what the Managing-Directors at McKinsey, Bain, BCG, etc., would tell you for over 1 million dollars.
a so so book of the past from big name professors.......2000-07-07
a banking book covers subjects ok for yester-decade
Great Book on Global Banking.......2000-04-25
A great book. Exciting to read, clearly written and full of practical insights into global banking. Discusses tenable strategies for financial firms world-wide and contains insights that are difficult to find anywhere else. The authors taught a course based on this book at INSEAD and the book retains the liveliness and rigor of that excellent course.
A must buy for anyone connected with or interested in the structure and strategies of global finance firms.
Book Description
Through Global Competitiveness in the Pharmaceutical Industry: The Effect of National Regulatory, Economic, and Market Factors, educators, graduate students, and public policymakers will examine the global pharmaceutical industry and the effect of national, regulatory, economic, and market environments on the competitiveness of the industry. This unique book is the only empirical study that examines the effects of the national environment on the competitiveness of a country's pharmaceutical industry. With this informative book, you will explore such topics as the types of comparative advantages that firms use for developing competitive advantages and what strategic choices firms should make when collaborating with international firms. Public policy implications with respect to the economic environment are also explored to give you a complete look at the international pharmaceutical industry.
Customer Reviews:
Classical MBA litterature.......2000-07-06
In 1990 this book was revolutionary. Today, it is mostly interesting as the first book on the subject. Nobody in todays (business) world can have missed out on the concept that time is (or can be) a competitive advantage.
If you have missed this basic fact, do read this book, it explains in rather boring terms why it is so.
Personally I think they put to much emphasis on time as a competitive advantage, and tend to disregard other factors, equally important. A more relevant reading would in my opinion be D'Aveni's Hypercompetition, that takes the concept to its logical conclusion, which Hoult and Stalk misses.
Unfortunately, neither of the authors are very entertaining writers, especially as this book is usually mandatory/recommended reading in most MBA classes on strategy.
In conclusion, good, once revolutionary, but today mostly over-rated.
The Best Articulation of the Case for More Speed.......2000-05-21
Today's readers will think that this book is simply stating the obvious. That shows how much influence the book has had. Prior to the book's publication, most people felt that "getting things right" was more important than speed. This book points out that speed can actually be helpful in getting things right by encouraging you to improve your management processes so you do things right the first time.
Many companies have had trouble implementing this concept in the way it is articulated. They simplify their process, but may not improve it. This may mean that new products arrive in the market that are not really ready for the customers. That can be all right if you can quickly fine-tune the products in beta tests and the customers have that expectation because you are giving them so much benefit anyway. If you do this with me-too products that don't work, the results can be disastrous in terms of damage to your company's reputation and customer relationships.
The authors do not spend enough time on helping people understand how to improve their processes, and how to create more speed without killing stress on the people involved. For many companies, this book can be dangerous. I think this book could use a new edition that would address these two areas in more detail.
On the other hand, if you have any doubts about the potential benefits from speedier action, you should read this book. It will change your mind using excellent examples.
Have a speedy read!
superior insight on how to change a cost focus to time.......1999-09-23
Simply put, an oustanding book that has all the nuts and bolts needed to allow a company to transition to a time based focus from a cost based one. Easy to read, the logic is perfect. A must buy to have on your shelf (better yet ... on your desk). I read it first when I received my MBA ... read it again this last week .... and gave copies to top management I know around the country.
Average customer rating:
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The Transnational Media Corporation: Global Messages and Free Market Competition (Communication Series)
Richard A. Gershon
Manufacturer: Lawrence Erlbaum
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Binding: Paperback
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Customer Reviews:
review of National Diversity and Global Capitalism.......2003-07-31
The main question posed in this excellent edited volume is whether globalization results in convergence in national economic policies, institutions, and outcomes. The editors have selected an outstanding group of scholars to focus on this theme. The answer Suzanne Berger provides in the introduction is that "the space for political vision and choice -- and for a diversity of choices -- is open and wide." [p. 25] Berger and Dore get to this conclusion by asking the authors of the various chapters to consider the evidence for convergence either in the system as a whole or in specific countries.
The chapter written by Robert Boyer of CEPREMAP in Paris provides an excellent introduction to the approach of the "regulation school" to international political economy. Boyer also analyses data on macroeconomic variables at the level of the nation-state to show that there is rather little evidence of a trend toward convergence, especially in levels of productivity and standards of living. Boyer argues that there is still plenty of room for national governments to pursue different policies and to maintain distinctive institutions. He contrasts the attractive simplicity of the idea of convergence with the complexity that results from the progressive segmentation of industrial markets and the parallel evolution of different national systems to occupy different market niches.
The chapter by Robert Wade deals with ways of measuring economic globalization. Like Boyer, Wade uses empirical evidence to argue that globalization is limited and incomplete and that many observers have exaggerated its extent. Wade argues that the world economy is more international than global. He points out that more than eighty percent of the production and investment by multinational firms is in their home countries and that they are "rooted in national home bases with national regulatory regimes." [p. 61] Wade ends by urging caution in generalizing about the extent of globalization.
The chapter by Andrea Boltho deals with the question of whether France has become more like Germany since 1958. Boltho concludes that there has been only limited copying of German institutions in France and therefore only limited convergence in economic performance. Still, there is some evidence of movement toward convergence.
W. Carl Kester's chapter is, for me, the most interesting in the volume. Kester compares and contrasts U.S. and Japanese systems of governance for economic institutions. According to Kester, U.S. business governance is overwhelmingly oriented toward solving principle-agent problems, and particularly the problem of getting the managers of firms to work in the long-term interests of the firms' shareholders. Japanese business governance, in contrast, focuses on reducing transaction costs by creating incentives for cross-firm collaboration and by insulating Japanese managers from the demands of corporate shareholders.
Each system has advantages and disadvantages with respect to the other. The U.S. system is less likely than the Japanese system to tolerate managerial cronyism and collusive or corrupt behavior, but likely to be more influenced by short-term volatility in the marketplace and hence more cautious in making long-term investments. The Japanese system is geared toward long-term growth and expansion of industry, but has relatively few mechanisms to prevent the perpetuation of bad management practices other than the market itself. I have found this formulation of the differences between the two systems to be very useful in my own work.
The fifth chapter of the volume is by Wolfgang Streeck, a German scholar noted for his detailed descriptions of the German model of industrial relations. Streeck is particularly knowledgeable about industrial relations in the automobile industry. His essay for this volume concentrates on the impact of the rise of the Japanese auto industry on Germany. Streeck argues that it will not be easy, nor will it necessarily be desirable, for German firms to copy the "lean production" methods pioneered by Toyota and copied by other Japanese firms. These methods include using "just in time" inventory practices for stocking components in assembly plants, working closely with a more limited number of suppliers to raise the quality and reliability of components, and investing in training the workforce to raise skill levels. While the last practice already exists in Germany, Streeck rightly points out that it may be difficult for German firms and German workers to change some of their other industrial practices without changing all of them. There will be a response to increased Japanese competition, but extensive copying of Japanese practices is out of the question. As a result, Streeck thinks that there will be only limited convergence in business practices between the two countries.
There is a chapter on financial markets in Japan by Shijuro Ogata. It is quite short and deals in only a limited way with efforts to reform the Japanese financial system. The volume contains a longer and more thorough description of changes in Japanese competition law and antitrust enforcement policies by Yutaka Kosai and of changes in Japanese retailing by Frank Upham. A chapter on British economic reforms by Stephen Woolcock reinforces the general message of limited institutional convergence.
The volume returns to larger questions in essays by Peter Gourevitch, Miles Kahler, Sylvia Ostry, and Ronald Dore. Gourevitch contrasts Anglo-Saxon capitalism with both Rhenish-Alpine and Japanese capitalism (he later abbreviates this as "Nippo-Rhenish"). Gourevitch argues that Nippo-Rhenish capitalism stresses network building and maintenance, whereas Anglo-Saxon capitalism stresses arms-length relationships. This split has implications for (among others) competition policy, financial regulation, and labor relations. Gourevitch concludes by stressing the political nature of struggles over economic reforms in response to changes in the international economy. Political outcomes are inherently uncertain, therefore one cannot confidently predict convergence.
Kahler and Ostry focus on the possible impact of international economic regimes on convergence. Kahler stresses the undermining of the intellectual foundations of the liberal system that he associates with the growing popularity of theories of "managed trade." Ostry argues that for globalization to proceed and to provide further benefits for the industrialized countries, the problem of divergence, or lack of harmonization, in competition policies has to be addressed. The existing regimes, in Ostry's view, have to be extended from the trade sphere to new areas like investment and technology promotion. Both Kahler and Ostry discuss the problem of how to respond to claims from Japan's competitors that Japan's firms benefit disproportionately in international competition from lax enforcement of antitrust policies at home. Ostry wants the regimes to grow to preempt new antiliberal political pressures, while Kahler wants the members of the existing regimes to renew their earlier commitments to those regimes by renouncing antiliberal doctrines. It is not clear how either of these agendas is to be carried out.
Dore's conclusion to the volume is just as good as Berger's introduction. It goes beyond the empirical arguments to identify the normative questions that are sometimes implicit in the rest of the volume. Dore ends the book by noting the difficulty of pursuing further liberalization of the world economy without undermining the social arrangements that have permitted the industrialized countries to enjoy simultaneously high levels of prosperity and social peace. He sees the pursuit of further liberalization as essential to reducing the gap in incomes between rich and poor countries, but he also perceives the corrosive effects of further liberalization in the form of lost jobs and incomes for unskilled workers and their communities. He expresses hope for a resolution of this dilemma, but does not suggest a course of action.
Berger and Dore have done an important service to their readers in putting together a volume of superlative essays by distinguished scholars on central problems of the contemporary world economy. I highly recommend it to readers of this review. The book can and should be used as a supplementary text for advanced undergraduate and graduate courses.
Book Description
A step-by-step review of the inner logic and values of the global market when it is viewed as a "total value system." McMurtry's explorations are powered by an interdisciplinary method that avoids specialized terminology or jargon. He employs easy-to-follow arguments and presents focused analyses while connecting market theory and practice in a unified understanding of the planetary threat of the "new world order."
Customer Reviews:
A critique of market ideology, with positive alternatives........1998-07-17
This is a very thoroughly researched book with an impassioned social message on money, ethics and human values. The author's arguments are complex and any serious critique of the author's arguments requires upon a reading and analysis of the book itself.
McMurtry is Professor of Philosoophy at University of Guelph and has been an active thinker and leader in analyzing and opposing the Multilateral Agreement on Investment (MAI). His book provides a comprehensive account of the economic and social history which underlie these modern trends, and the errors and problems involved.
The question of freedom and its nature is basic to life and society, and conventional market theory is very superficial and self-serving in this regard. The Market is an abstract entity with powers as formerly ascribed to God, and belief in market absolutes ("there is no alternative") is based upon ideologies and rationalizations not fully grounded in real-world human and ecological v! ! alues. The basic problem lies in a value system for which money (the services and goods it commands by social agreement) is seen as the only practical measure, and is treated as absolute. Values attached to meeting human needs for development and well-being, including sustainable ecology, are given short shrift.
The problems are deeper than those of class structures, for the values held do in fact condition views of what constitute reality itself. Minds are programmed by such values to perceive the system as commanded by nature as laws of nature and of God. However, the problem is not "human nature". It is rather the inertness and habituation of the mind, a condition that does not question or allow the reevaluation of socially conditioned and programmed values. People thinking within this closed order do not recognize what they are part of, and see things as "the way things are". Beliefs are seen not as values but as realities. Such value systems unde! ! rlie the global market. (In a similar way, theology underla! y the world view of the Middle Ages, and provided the logical ground and justification for procedures of the Inquisition.)
We may think that a value system goes wrong because there is a gap between what its proponents claim to adhere to as values, and what they in fact do. that is not the problem here. The problem is that the market metric does not include natural resources or human needs (as contrasted with economic demands) as values in its calculus. What the market designates as value is all that counts. Externalities and side-effects or human and ecological devastation are not considered.
The problem is, such is the trust in the "invisible hand", that relevant questions are not asked, not conprehended, and ruled out of order. Also, the global market is not the same as the classical capitalist market, and has little even in common with a *producer's* market.
The process of confining consciousness within the closed loop of a social value regime continures unt! ! il it is recognized to be in clear contradiction to reason and the senses. It is necessary, for survival, to open the old mind-set to question, in order to adjust to life realities that the value system has excluded from view.
McMurtry deals with many issues: the distinction between reality and representations; historical backgrounds; Adam Smith, John Locke and the development of economic theory and practice; the market and faith in its "invisible hand" as God; sin against market laws and punishments; money and private property; profit, competition and the socila good; free markets and democracy; market metaphysics (and true meanings); global markets and planetary health; the decoupling of capital from civil and environmental life; mutations of the profit systems and the logic of the world-system crisis; and the economics of life and death. Changes in the direction of life values are outlined.
In my view this is a book that deserves a lot of close attention and ! ! discussion.
Books:
- The Analysis of Household Surveys: A Microeconomic Approach to Development Policy (World Bank)
- The Art of M&A Due Diligence
- The Art of Trusteeship: The Nonprofit Board Members Guide to Effective Governance (Jossey Bass Nonprofit & Public Management Series)
- The Capitalist World-Economy (Studies in Modern Capitalism)
- The Communist Manifesto (Signet Classics)
- The End of Poverty: Economic Possibilities for Our Time
- The Essays of Warren Buffett : Lessons for Corporate America
- The Eurodollar Futures and Options Handbook (Irwin Library of Investment & Finance.)
- The European Economy since 1945: Coordinated Capitalism and Beyond (Princeton Economic History of the Western World)
- The Hydrogen Economy
Books Index
Books Home
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- Daniel Libeskind Jewish Museum Berlin: Jewish Museum Berlin : Between the Lines
- Undesigning the Bath
- Untitled
Marketing to the Campus Crowd: Everything You Need to Know to Capture the $200 Billion College Market
Branded: The Buying and Selling of Teenagers
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Don't Think Pink: What Really Makes Women Buy -- and How to Increase Your Share of This Crucial Market
Born to Buy: The Commercialized Child and the New Consumer Culture
