5 comments about The War for Wealth: The True Story of Globalization, or Why the Flat World is Broken.

1. I love books, and I seem to find a new one to like every week. And yet, I can honestly say, this is the best book I've read in years. Few books have the power to encapsulate the meteoric economic and political changes that face the United States--and the world--right now. Gabor Steingart, a German journalist working in Washington, DC, for "Der Spiegel," has managed to come at just the right time with just the right book, "The War for Wealth."
   
   What makes this book so pertinent? First, it approaches the question of whether globalization truly benefits all. Unlike those who favor the open market who make the assumption that free trade helpa all, Steingart posits that globalization instead is leading to a redistribution of resources. Not all countries benefit equally. In this new world order, Americans are needed largely as consumers, not workers, who are financing their purchases on a mountain of debt.
   
   The expansion of the labor market as a result of globalization, in fact, has led to a decline in the value of workers. This has hurt Western nations the most. In the US industrial base alone, there has been a 50 percent decline in jobs in a single generation. Americans and Europeans are overpriced for the global market, not because of their wages (although this is a factor) but largely because of the cost of their social safety net.
   
   Who are the winners? Those in India and China, obviously. In China, those growth rates are even being understated by the Communist government so that the West does not even see the full extent of this unfettered development. Moreover, China has chosen a different, more insidious tactic in this economic war. As Steingart notes, "the Asians are attacking with economic weapons and avoiding ideological conflict. They do not conduct debates with the West over equality and justice, nor do they level any accusations or issue threats. The rising global powers are not interested in a battle of cultures. They are ignoring issues of religion and ideology. They are quiet adversaries who are placing their bets on economic efficiency. The West, they reason, can be defeated with its own weapons."
   
   Unlike many who see these problems, however, Steingart is not a protectionist, nor does he see globalization as something to be halted in its steps. He is not a fear monger. As an economist and journalist, Steingart knows that this is a trend that is not likely to be reversed. It can, however, be managed by savvy leadership and a willingness on the part of Western nations to work together. Steingart basically lays out three options: global chaos (the shock scenario), the rise of Asia (the Asia-above-all scenario, in which American dreams bite the dust), or remaking history (the American Renaissance scenario).
   
   How America and the West manage globalization, international trade, and the development of rules and regulations to even the playing field are critical to the continuance of the good life. If I could have one wish, it would be that both presidential candidates and their camps would read Steingart's book. This critical overview of the world and economic development today is something that every American should be thinking about as they approach the future.



2. Among the fairly simple, but politically difficult recommendations is to eliminate income based taxes and instead tax consumption. The US policy of taxing income of individuals and, especially corporations, effectively makes US products gives importers a free ride and makes US exports uncompetitive internationally. Taxing sales not only levels the playing field for US producers domestically and internationally, but also greatly reduces tax fraud and black market free riders.
   
   Eliminate the tax on savings and capital gains and odds are people would save and invest more.



3. Every American should read this book; the author gives a broader view about the world economy, and how we got to this point, where we have been losing jobs to the Asian countries: the causes, the consequences and what we can do to revert it.



4. I feel almost personally grateful to Steingart because he has written something I have always wanted to say, but couldn't possibly have said so well.
   
   The questions he asks on page 227, for example, have been troubling me for years. I beseech every American to pause and respond to these buring questions.
   
   "Did you really believe that you could live, in the long term, on borrowed money?
   "Who actually claimed that such a large nation doesn't need an industrial base?
   "Where are the men and women who made us believe that a negative balance of trade is a sigh of strength?
   "Why did no one on Wall Street sound the alarm bell when the U.S. dollar became eroded and lost intrinsic value for such a prolonged period of time?
   "Is it possible that no one could have noticed a country that was once the world's biggest lender selling off its assets to others?
   "How could the entrenchment of economic inequality in a democratic nation have been tolerated for so long?
   "What happed to the upward mobility that was once this country's trademark?
   "And, last but not least: why did democracy, which is supposed to react more quickly to malfunctions than other forms of government, fail so miserably?"
   
   As someone who genuinely wishes America well, it pains me to see this great country de-industrialized and become the biggest debtor in human history, reduced to begging more loans from foreign powers such as the Chinese Communist regime.
   
   My gut feeling is that it's too late to remedy the dire situation. I pray miracle happens. I wish to be proven wrong.
   
   By the way, Deng Xiaoping was never premier of China, as Steingart told us. His official position, when he did hold one, was vice-premier, though he was the paramount leader of the Chinese Communist Party from the early 80s. Chinese politics was bizare.



5. Globalization has had a strong, yet subtle, propaganda from both the "liberal" and conservative media in the last years. Just take a look at magazines Newsweek, Time and many others, but above all The Economist. They are always reminding us how important is that companies can freely operate globally. Fareed Zakaria, for example, wrote some weeks ago that while ipods are made abroad, most of the profits go to Apple. Good for Steve and Co. but bad for common people who don't own corporations. Instead, Mr. Zakaria chose to show off the startlingly low American unemployment statistics. As for web sites, go to the ultraconservative [...], which has a single one writer against free trade, Pat Buchanan.
   
   Gabor Steingart is one of the few writers who goes deeper that and exposes what holds the terrific unemployment statistics: part-time jobs (no matter how few hours a week), minimum wages and plain unemployed simply masked. We can even say it is as hard to get in those statistics as getting into an ivy-league college. According to the US Labor statistics, the minimum wage jobs are meant to be the main jobs sources by far and large in the next years. There will be like 600,000 opening for college professors and many others for college graduates, which all in all won't take the whole youth needing jobs. Yet, most of the media (both "liberal" and conservative) remain simplifying the issue and keeping repeating the great unemployment statistics and Wal-Mart prices (which are not so great either), just like a nazi general used to say to keep lying until people believe them.
   
   The news channels don't promote globalization as much, instead they distract us and focus on the oversimplification of the "culture wars" (both excessive liberals or conservatives, who are minorities in USA) , missing people (like 1 in 100,000) and most recently have only paid attention to the political campaigns and the financial crisis. These issues are surely important and still second in importance to the basic need of making a living, which globalization won't let us do. No matter how cheap a product can be as the propaganda always says, if you don't have a job you can't buy much, which is happening to more and more millions of people all over the 1st world, as Gabor well exposes.

5 comments about Power and Plenty: Trade, War, and the World Economy in the Second Millennium (Princeton Economic History of the Western World).

1. Ronald Findlay and Kevin O'Rourke demonstrate with much detail how trade, war, and peace have closely interacted with each other in the last millennium. Findlay and O'Rourke clearly show how three apparently unrelated events, i.e., the Black Death of the 14th century C.E. and its different impact on several regions of the world, the integration of the New World into that of the Old at the turn of the 16th century C.E., and the Industrial Revolution at the turn of the 19th century C.E., have shaped the world as we know it today. Thankfully, Findlay and O'Rourke have compiled the existing research to allow their audience to better understand the close interaction that exists between Power and Plenty. To summarize, Findlay and O'Rourke's demanding volume clearly does not target readers who have a short attention span, do not acknowledge the importance of the past to peruse the future, lack persistence, or are interested in simplistic answers to complex issues.



2. This well written book is a successful effort to summarize and synthesize a large secondary literature on the history of international trade over the last millenium. The authors adopt a chronological approach starting at 1000 CE and conclude with the recent re-emergence of the high degree of global trade in the last half century. The first chapter offers an overview and methodological discussion. Chapter 2, which stresses the economic importance and sophistication of the Islamic world and China, reconstructs the state of the Eurasian international economy. Chapter 3 describes the positive effects of the emergence of the Mongol Empire with its great facilitation of trans-Eurasian trade, followed by wholesale transformation of the Eurasian world by the consequent Black Death and its various sequealae. Chapter 4 describes the European voyages around Africa and the beginning of the integration of the Western Hemisphere into the Eurasian, now world economy. This is all very well done and the authors do a good job of summarizing the significant secondary literature on these topics with a nicely critical approach to the often fragmentary data. The emphasis, throughout, is on the interaction of economics and political history. Much of this, however, will be familiar to those with a good knowledge of history.
   
   The authors really hit their stride and introduce a significant level of analysis with Chapter 5, which discusses European Mercantilism, and the succeeding chapters. The higher level of description and analysis is probably due to the availability of more complete data, particularly for European trade and economic performance. Chapter 6, on the Industrial Revolution, is a very thoughtful discussion of the literature on the origins of the Industrial Revolution in Britain, concluding with a sophisticated multifactorial description of the emergence of the first Industrial economy. The authors do a very nice job of stressing contingent features and the role of political and social history. The subsequent chapters, on the 19th century economy, the disatrous effects of the World Wars and the re-emergence of a high degree of global trade in the last half century, are excellent.
   
   The quality of writing is quite good, the authors are careful to avoid using a lot of economics technical language, though a basic knowledge of economics is very helpful in reading this book, and the bibliography is comprehensive. Unlike many historians, and like many economists, the authors make good use of charts and graphs. It would have been helpful to have a few overview figures summarizing trade flows during the different periods discussed by the authors.



3. This book is like a six layer cake with as layers the periods 1000-1500, 1500 to 1650, 1650 to 1780, 1780 to 1814, 1914 to 1939, 1939 to 2007, and speculations about the future. Within each layer you find descriptions of what happened in seven regions that is Western Europe, Eastern Europe, North Africa with Southwest Asia, Central or Inner Asia, South Asia, and South East Asia. For each region you find wars, rulers, economic development including trade. And, especially important, the interaction and interdependence between regions
   
   This is about as holistic, systematic and complex presentation you can ever hope to find. By the way the development of North and South America is included in Western Europe and Africa as it relates to other regions. The book is an outstanding example of a multidisciplinary approach combining the science of history with the science of economics. The book is written by an Irish and American professor. You can see from the choice of regions that it is not a European centric presentation. Asia dominated with many regions in year 1000 at the start and is moving to domination in 2007.
   
   You will learn about many examples of interconnectedness you did not know about. For example the industrial revolution in the UK would never have happened as a consequence of only steam power and mechanisation in cotton spinning and weaving. It was dependent on a rapid increasing supply of low cost cotton that was produced to almost 100% by slave labour in the Americas, continuous land grabbing in the Americas, military control of the seas by the UK Navy to transport the cotton to the UK and transporting cotton cloth for export and an industrial policy of protection of the UK cotton industry from foreign competition in the UK. You will also find many examples of causes of unforeseeable change. Just as an example consider the rapid expansion of population and wealth during the Song dynasty in China. That was made possible by the introduction of a different type of rice from what is now Vietnam that allowed three harvests per year.
   
   The book demonstrates conclusively that major changes in the fortunes of countries' history cannot be understood without economics and wars and the other way around. It is disappointing even frightening to see how personal greed and greed by nations has been the driving factor of most of the major changes Concern for the well-being of others as a driving force is almost totally absent.
   
   That should be a lesson for the future. When the increasing interdependence between nations is combined with greed as the driving force, disaster is likely to occur. A disaster that can as yet can not be identified. Governments were never were able to predict disasters in time in the past. That means that it is imperative that country leaders have to change their mind - sets and consider the well-being of other countries next to their own. Anybody reading this book will become convinced of this is an absolute necessity.



4. I should note that although I do not have a background in economics, I might be the perfect layperson for this book as I do have a degree in history. I understand probably about as much economic theory as most semi-educated people, and hopefully a little more history. For the most part, I could follow along the economic arguments, although a few theoretical points required some review. However, there were quite a few parts where I was glad that I already knew which historic events they referred to, because sometimes they made a mention of it and then simply moved on. The most obvious was the second world war and the Holocaust, although it could be reasonably argued that most (semi-educated) people are pretty well-versed in the most basic facts of that conflict.
   
   That would be my only complaint about this book, and as I said, one that didn't negatively affect my enjoyment of it. The book opens with a survey of where the major and minor geo-political players were at the beginning of the Second Millenium. Yes, we all know that the area roughly referred to as the Middle East made the rest of the world look like barbarians at the time (and yes, pun intended), but the authors still do a good job of impressing the reader with the vast scope of their economic activities. However, they also show that other areas, particularly East Asia but even Western Europe, were more sophisticated than they are usually given credit for. What is most valuable though is the explanation of the interactions all of the regions had with each other. Although the Middle East had the most far-reaching and complex and Europe the fewest, the total picture makes it clear that on balance the world at the beginning of the Second Millenium was much more connected than most people realize. One of the major themes of the story is not just the effect of political jockeying on trade but also the ebb and flow of the interconnections between the regions of the world.
   
   The discussion on the effects of the Black Plague/Black Death was the one that felt the most appropriate for an economics textbook. This section was very dependent upon a number of graphs and seemed to use the most economic theory. I expected subsequent sections to be in the same vein, but the scope seemed to get bigger afterwards, for lack of a better word.
   
   The importance of taxes and free trade- as well as the economic advantage that slavery provided to slave holders (a practice they repeatedly condemn)- were important themes in the book. However, the climax of the story as the authors see it is the Industrial Revolution, and this subject got the most ink out of any in the book. A "conspiracy" of politics, history, the clear need for certain innovations and, most importantly, the special relationship between England and the sparsely populated United States puts the center of the Industrial Revolution in Britain, but its presence and influence soon spread well beyond. The most important aspect of this economic phenomenon, and what makes it revolutionary, is that it enables its participants to break away from the Malthusian model that ties standard of living to population density. The subsequent, dramatic rise in the standard of living- and the expectation of such high standards- is probably what is most responsible for continued economic and political innovations.
   
   As much as the Industrial Revolution raised the bar and showed what was possible, the First World War and the Interwar period show, perhaps, how fragile our systems were and how interconnected they were to politics and the peculiar balance of power that existed worldwide between 1815 and 1914. Although the United States and parts of Western Europe found ways to take advantage of the new political opportunities, the authors convincingly argue that the rest of the world did not truly recover until the end of the 20th century.
   
   At the end of the book, the authors draw parallels to both the Germany before the First World War and Japan before the Second. The authors imply that at least some of their belligerence may have been justified by the repeated attempts by established players (Great Britain and the United States) to block their access to favorable trading conditions. The authors see an analogous potential in both China and India, who are seemingly suddenly viable participants on the verge not only matching the US' capacity but exceeding it, and countries with newer nuclear capability. We are left to ponder if we can learn from the lessons of history- and what that lesson might be.



5. This book is to be bought for the first 7 and a half chapters. It's a solid 4 star rating then. The topic is simply too broad for any single volume book to get 5 stars. In other words, this is a readable bibliography. It doesn't always handle the sources well, so truly, use it as a bibliography!
   
   The reduction to three stars is entirely based on that the authors completely dropped the ball on colonialization. How it was formed, what role it played in the local economy, how force was used, and how it buttressed the world economy, these were all missing, or had one line apologetic acknowledgements. It led to charts that show how the Belgian Congo and French West Africa were some of the fastest expanding economies in the world, when most people reading this are going to be familiar with Joseph Conrad's opus. There were other highly autistic use of data when it refers to the colonial states. The relunctance to frankly deal with colonialism impacted the book from the latter half of the seventh chapter on. Lastly, perhaps related, or unrelated, some of the fairly critical events of the latter half of the 20th century but in the Third World, like the debt crisis of the 1970s, the iranian revolution and war with Iraq, the Mexican Peso Crisis, and the 1997 asian finacial crisis all apparently merited little or no mention. Anyone reading this book by itself is going to be somewhat misinformed without something on third world (and Marxist--it was pretty thin there as well) economic history.
   
   It is a good book, just understand that the typical Western Triumphalist outlook starts peaking out towards the end.

5 comments about From Third World to First : The Singapore Story: 1965-2000.

1. I thoroughly enjoyed this book by Lee Kuan Yew. Besides being a genious at governing the man is a gifted writer. The book is full of information for those, like me, that were curious about how this gentleman, along with his associates, pulled out the feat of transforming an underdeveloped society into a model society. He, almost singlehandedly, achieved what other countries and societies with far more resources only dream of. Pick this book if you wish to learn and, at the same time, be entertained.



2. I loved this book. Lee is insightful and a great writer.
   
   His chapter on Taiwan, however, was mad hypocrisy. He critices Taiwan for "pulling away" by teaching in schools primarily the history/geography of the island instead of China, as before. Funny this is coming from a guy known for getting rid of all Chinese-language universities in Singapore. He spoke about ensuring he brought Malays along in his trip to China, and conducting meetings in English, to ensure China recognizes Singapore's unique identity.
   
   Also funny was Lee KY's attributing Lee Teng-hui's provocative behavior to Lee TH's Japanophilia and being "powered" by the spirit of the Bushido warrior." Yet throughout the book Lee KY talks about how British he is, e.g., his habit of drinking tea in the morning! Furthermore, he spoke of the great sentiments associated with attaining British knighthood, which according to him, was the greatest honor he had ever received. I couldn't help laugh when reading the British knight accuse the Bushido warrior of Japanophilia, when he himself is brimming with Anglophilia.



3. great book. lee is the most impressive character i've ever read in history book.



4. This book is a detailed account of Singapore's history beginning from its independence and its development to a first world country under Lee Kuan Yew's leadership, and the second part is Lee's diplomatic relationships with different nations and his dealings and views on their leaders.
   
   It is a very entertaining and insightful read, Lee goes deep into details in problems looming over Singapore in its infancy and in developing the nation to feed its population. How he tried to persuade the British to maintain its military base there to protect Singapore from its two dangerous neighbours and communism from China and in within, and when failed how he placed utmost importance in building a working army to defend itself.
   
   Lee realizes the importance of a clean and competent government, whereby he believes a good paycheck would help curb corruption and an anti-corruption agency with a high degree of power was formed to further prevent it. He was able to gather a group of honest and able people to form an efficient government, which was vital in building any nation.
   
   He created a safe and secure environment through the rule of law and honest public administration to attract foreign direct investment to build up factories in Singapore, this was essentially the main driver behind Singapore's phenomenal growth. Through this he created thousands of jobs and gave the Singaporeans adequate livings.
   
   He knows the importance of human resources given that's the only resource Singapore has, he stresses on education and the English language to effectively connect Singapore to the world. He had to close down the Chinese-speaking Nanyang University because most graduates had a hard time finding job.
   
   He also gave explanations on some of his rather controversial actions in suing newspapers and political opponents, which seem reasonable.
   
   Overall, he has done a remarkable job in creating an honest and efficient government, a sound legal system with the rule of law, excellent infrastructure and he was able to provide jobs and a good living to his people. All these are the factors to Singapore's miraculous transformation. And on top of that, he retired from his prime ministerial post and passed on the baton, albeit still holding a senior minister post.
   
   All in all, Lee has done a spectacular job in transforming Singapore to the only other first world country in Asia aside from Japan, heads off to him.



5. The book is very good in its sincere attempt to delivery the story on how Singapore was built. Perhaps with an intention, on the side, to 1) lay down guidelines that other asian countries could follow, and 2) further promote Singapore to foreign investors. His emphasis on discipline and strict public policies--that may be deemed oppressive in other countries--to jumpstart progress could be well-intentioned points as well. The reader cannot miss the pride on every passage that highlights the successes of Singapore as a small state-country.
   
   But not everyone can agree with Lee Kwan Yew's setting-aside, for example, of a free press. Freedom of expression is a right; the fruits of progress is not complete without it.
   
   An authoritarian government cannot hide, as well, the hypocrisy that is probably vital to compromise certain liberties, in exchange for a 'highway' towards progress. Sometimes one can also see how money is used in Singapore to discipline, and as a only parameter in decision. One case in point: a young professional Singaporean shared a story that Lee Kwan Yew once pompously said that as long as he is alive, there will be no casino in Singapore. Well, yes, he is still right, there are two casinoes now being built simultaneously in the Marina area! And what with the Geylang red-light district that the government has to acknowledge quasi-legally? Is the rationale for both of these is that they are still business ventures that Singapore will still profit from in the end?
   
   Lee's omission of his own compromises/hypocrisy in fact weakens the book's commentary and criticism of other countries' priorities. (He has tons of advise and lay downs on neigbors in southeast asia--taiwan, philippines, malaysia). Singapore is known as a good place to work at, but not to live in.
   
   The book is very thick. Ive concentrated most of the history on early Singapore (good read!) and some opinions on the state of asian countries today. There are some repetitions and convolutions as well. I think this book could have used a good editor before publishing.
   
   Still a good buy, but 3 stars only for not being as in-your face that I would have personally wanted. Hypocrisies that he should still acknowledge (and explain).

4 comments about The Choice: A Fable of Free Trade and Protection (3rd Edition).

1. This is the third edition of Roberts' novel about the benefits of free trade, using "It's a Wonderful Life" as his template. David Ricardo "touches down" from heaven to earth (like Clarence), to help convince Ed (George Bailey) that he should not support protectionism. The previous versions focused more on threats that were perceived from Japan and Nafta. Here, Roberts uses India and China as his examples.
   
   To me, one of the most appealing things about Roberts' work is his honesty. He doesn't pretend that economic change doesn't hurt, but he also focuses on the benefits in the longer term. He writes in such a pleasant style that economics becomes accessible to people who are "math phobic."
   
   His other book, The Invisible Heart, is at least as good as this one.



2. I don't really consider this a work of fiction, and neither does the author. It is in a fiction format, but its primary purpose is to make the case against protectionism, and for free markets. Roberts does this beautifully, raising and dismissing almost every argument for protectionism, and doing this with charm, wit, and almost a complete lack of venom.
   
   The story follows the time-traveling journey and conversation of Ed Johnson (a businessman looking for protection form Japanese competition) and his guardian angle David Ricardo (modeled after the little-known economist.) Together they travel to the future, back to the past, and through alternate timelines to demonstrate Robert's point.
   
   Through this journey, Ricardo corrects some critical mistakes in economic theory; such as the `zero-sum theory', misconceptions on the nature of supply and demand, the role and meaning of wages and `real' wages, the mythical "dangers" of a trade deficit, what imports and exports really are, and most of all, dismisses the myth that trade with other countries hurts the American worker overall (which he admits, in a smaller sense, it sometimes does.)
   
   The book takes some leaps of logic, which the author fully admits in the back of the book; such as the town of Star (Ed's hometown) being unchanged in the `protectionist' universe. These little plot devices are not meant to represent reality, but demonstrate more abstract points, in that sense, it is more like a metaphor.
   
   Overall, the book makes one of the strongest cases ageists the practicality of protectionism that I have ever heard. He also fits some talk as to the moral case against it, that it is really an issue of freedom, and no one person has the right to force another in to a certain kind of behavior (A.K.A., buying American products) and that "America" is all about dreams and growth, something not very possible in the protectionist world
   
   My only complaint would be that I wanted more elaboration on some sections of the `conversation'; such as the `dumping' segment. Robert's makes a good case that dumping is not really practical for anybody, that the `dumper' would have to make up for lost profits from lowering their prices. What I don't understand is....what if a company could cover their lost profits in profits from another product, or section of their company (Such as a department store lowering prices on televisions and allowing the produce-department to cover the loss.) I wish Robert's would have gone in to slightly more detail.
   
   There are several section of the book like this; but I want to make clear is that Robert's never claims that this is the ultimate source for `anti-protectionist' arguments, he even suggests further reading in the back of the book, something all reasonable people should do if they are truly interested in understanding the complexities of economics.
   
   I love Robert's style of writing, his books are not just informative, but entertaining, something very hard to achieve for this subject matter. The book was good enough that I ordered His other book, The Invisible Heart, form Amazon. After seeing what he did to It's a Wonderful life, I can't wait to see what he does for a romance novel.



3. Russell Roberts has taken the concept of free trade and made it understandable. I originally purchased this book for my college International Economics class, but it would work for high school economics classes as well. It is easy to read and has well rounded characters. As a future educator I would certainly recommend this book.



4. Distraction 2/5,education 2/5,inspiration 2/5: The story of small town America,with and without free trade is moderately compelling. It is 120 pages long and gives less perspective than the Wikipedia entry on free trade. There is minimal discussion of the newer ideas of energy flow in economics. There is no concern for resource depletion and no mention of population problems. Lower environmental standards are alright for overseas infant industries(It's alright for a two year old to jab a sharp stick in my eye until she becomes more mature).
   It is good to specialize,good to consider opportunity costs,good to consider time as a resource. Was it good to export our oil at extremely low costs? Is it good to export our topsoil and the Ogallala aquifer in the form of grain? Wikipedia gives a briefer more balanced answer.

5 comments about Kaizen: The Key To Japan's Competitive Success.

1. Most American businesses no longer worry so much about the Japanese miracle. International focus has moved from Japan to China and back to Europe. Many Japanese companies are now looking to the US for recapitalization and management assistance.

   So why is a book on Japanese management techniques still so relevant?

   First of all, continuous improvement and lean manufacturing have become universal management tools, not strictly limited to one country. This book presents as good an introduction to the subject as any. With today's focus on execution, this topic are becoming even more current. (Dare I say topical?)

   Additionally, understanding continuous improvement is still important in the context of broader corporate change. What are the strength and limitations of incremental changes versus more radical corporate moves? Read the book and learn more.

   This book certainly won't turn a mediocre manager into a great leader, but Kaizen is a useful addition to the toolbox of any manager.




2. Kaizen, a Japanese word means improvement. How can Japanese enterprise success is the main topic in this book. Actually, Japan has been under economic recession for nearly 10 years. But the Japanese enterprise can still survive, and some enterprises are under the list of Fortune 500. There must be some secret behind.

   This first version of this book is written in 1986, Japan at that moment still maintain a high growth, and Japanese enterprise takes a major role in the global business environment. The author found that the major reasons are due to their modification rather than innovation. And these management concepts were learned by foreign companies and used as a framework to develop their management structure. From this book, you will learn lots of the Japanese culture and Japanese management style.

   Moreover, you also understand the history of management development. Most of the management concepts used in foreign countries are based on Japanese firm. Like the TQM, process oriented management, and strategies in R&D. So, after reading the book, you will learn the difference between western working culture and Japanese one.

   Before writing this book, the author has done lots of primary research, and he try to summary all the findings and success factor of major Japanese enterprise, like Toyota, NTT. And all these companies now become the Global 100 companies. After reading this book, you will learn more about the success story of these enterprises, and you will also know that their history and culture as well.

   But, there is some limitation, because the book has been written nearly twenty years before, the business environment is totally changed, the competition and the consumer behaviour have been changed, therefore some of the strategies are not applicable. Also, the failures of some Japanese enterprises during the economic recession also prove that some strategies mentioned here are not worked.

   Kaizen is a good book for you to understand more about the Asia culture especially the Japanese firm culture. If you want to do business with Japanese partner, this book is a must to read.




3. This book is a must-read for process improvement and Quality Assurance professionals. Senior corporate management would also benefit from selections, especially the first chapter and the chapter on problem solving. The book outlines the key fundamentals, principles, requirements, and expectations related to Kaizen (continuous improvement), with a focus on the highest-level cross-functional goals of Quality, Cost, and Schedule (in that order) that ultimately drive profitability. Appendices, including summaries of 5S, old and new seven statistical tools, Deming Prize criteria, and Cannon company case study are as informative as the body of the book. On the down side, there is some significant repitition. Although the book is nearly 20 years old, it is timeless and as relevant as ever.



4. This is an excellent book on how production is organised in Japan. It explains the Kaizen concept of continuous improvement and its implementation, highlighting the essential differences between the production and operations management philosophies of the West with those of Japan. The foundation of the Kaizen method consists of five fundamental elements namely teamwork, personal discipline, improved morale, quality circles and suggestions for improvement.
   
   This is a very enlightening book for those who want to understand the basic concepts of continuous improvement (as opposed to innovation or business process reengineering) in the production process and how this has been successfully applied in Japan. Some very successful companies like Toyota owe their success largely to the employment of this concept.
   
   This is essential reading for those who wish to introduce Kaizen in their organisation. The book is written in a simple and easy to follow and understand style. However, the book is becoming a bit dated having been written two decades ago, and in any case, the spotlight nowadays has shifted to China, but nevertheless, this is excellent reading about a concept that is still delivering good value to those companies that are correctly employing it.



5. For 25 years I have been teaching high level engineers and directors at Honda, Mitsubishi Fuso, Mazda and a host of auto part manufacturers.
   
   Kaizen is a mythical term in modern day business practices. Japan's ability to produce high quality products across the board stems foremost from the from the cultural value of obedience to authority. From a young age people are taught to follow an authority figure. Combine this allegiance with a deftness to be meticulous - also instilled through the education system - and you have a workforce which can attain high product quality. Kaizen only works because of the docile obedience of the workforce, not because the theory is a magic bullet.

5 comments about A Year Without "Made in China": One Family's True Life Adventure in the Global Economy.

1. I really enjoyed reading abut this family's attempt to avoid buying from China. The way in which they approach the challenge was very realistic...the reluctant husband, the concerned, but not too "militant" wife, and the friends and relatives who were a mix of supportive and ridiculing. It was very eye-opening to see the different items they struggled with. I would recommend it to anyone who is trying to be a more conscious consumer.



2. This book is a lot of fun to read and really gets you to think about where things come from. My wife and I both read it. We agreed that she was pretty hard-core. We would not have lasted the whole year. If you've ever looked at the label to see where things come from, or if you have some concerns about our trade deficit with China, this book is one you would enjoy.



3. Boring after the first chapter.
   
   Assigned as a text for my International Business class, the students thought this was a light weight text with the main point established in the first 2 chapters. The rest of the book delves more into family details with more examples of the same.
   
   Save your money, look into your closet and document all the things you have purchased that are made in China. In so doing, you will understand the concept of this book. There are no prescriptions or solutions, just railing about the problem.
   
   Instead, the author should discuss the impact of Made in China:
   * Trade imbalances
   * Currency devaluation
   * Declining educational system
   * Bigger government
   
   Do not buy this book. It states the obvious without any solutions.



4. This book is light reading; with 227 pages it's a quick read and at times funny and insightful. However, I didn't get the point.
   
   The "rules" of living a year without felt flimsy; granted, it was a work in progress, but what's the point if you're going to keep breaking the rules? Example: the "gift" exception. You can always ask a relative to buy something you need that's made in China.
   
   If you're going to go a year without, * really * go a year without! Perhaps a better approach would have been to write a book titled "A Year of Made in the USA"... now that would have been tough! Here the writer goes to great lengths to buy items made from other countries.
   
   Personally I think the entire book could have / would have done well as a lengthy article, and I would have gained just as much insight. What the book lacks, and what others have mentioned, is a pairing of this family's decision with a discussion about China. The reader could have benefited from a historical explanation as to why China has infiltrated our economy, and why it's difficult to go without purchasing items made there. I actually consider this a disservice to the reader.
   
   Oh well... not a complete disappointment but it wasn't what I expected.



5. I would have appreciated more depth about the actual experience of seeking out products not made in China and fewer irrelevant tangents about the author and her family and friends. The tangents do make the book "read like a novel" but if you aren't after a novel then you may find it annoying to have to wade through the fluff in search of the interesting parts.

5 comments about The Travels of a T-Shirt in the Global Economy: An Economist Examines the Markets, Power, and Politics of World Trade.

1. 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.



2. Worst of both worlds - claims to be anecdotal to get around having to have too much actual information (other than the more boring parts of the history of the American textile industry, but trades in interesting anecdotes for general suppositions and a couple sucess stories.
   The last section is very cool and interesting and saves this book from the bin. If you get it, skip to the end.



3. Allow me to provide a more descriptive title for this volume: What I did last summer + a history of cotton growing in America + a history of cotton mills around the world + a brief history of Shanghai + a brief history of child labor + a brief history of labor activism + a brief history of workplace safety regulations + a not-at-all-brief history of US textile protectionism + a characterization of the international market for used clothes. Interesting? Often.
   
   In the course of all these histories - occasionally interspersed with a reminder that we are following Rivoli's t-shirt around the world - we jump from England to Japan to Texas to West Africa; we leap back and forth (and back and forth) from century to century. By the middle of the book, I had gotten dizzy and wished it had been a long magazine article.
   
   But in fact, the second half is the most interesting. Rivoli gives a detailed history of textile protectionism in the United States, giving a peek into the dizzying, constantly morphing tariff and quota systems as well as the huge bureaucracy the system supports. And finally, she gives an illuminating description of what happens to the t-shirts after they get donated to the Salvation Army and how they make it to market stalls in East Africa.
   
   Rivoli is an economist and so recognizes that her inherent leaning is toward free trade, but she argues for the value of both sides of the textile battle, both the free traders and the student demonstrators.
   
   The first half of the book feels too long (even though it isn't that long), and Rivoli's strength is in illuminating description rather than careful analysis. But if you get bored, just skip ahead to the next chapter: There's plenty to choose from!
   
   [I listened to the unabridged audiobook narrated by Eliza Foss, published by Recorded Books. The reading is fine, but Foss's voice is too syrupy sweet and storybookish for 8 CDs (think the voice-over narration from Desperate Housewives).]



4. This is easy to read and understand, written in an engaging and conversational style, with some important insights into the mysteries of crop subsidies, textile quotas and the fate of donated clothing. It's a great illustration and analysis of globalization in action.



5. Upon first glance, it might appear that this book details economic aspects of a
   single industry, namely that of T-shirts. You'd be mistaken. It instead offers
   an insightful look into several different aspects of T-shirt production,
   including agriculture, factory working conditions, free trade (and
   lack thereof), and concluding with the world-wide used T-shirt market. Each of
   these sections could merit a book topic in its own right, but Ms. Rivoli has
   wonderfully combined them into a single book ripe for reading.
   
   Learn about the history of cotton production, including the rise of American
   production and why it's still on top. (Hint: the American government has more
   than a small role, but farm subsidies aren't the major reason.) Learn about the
   back-room political dealings that ensure that some of your clothes come from
   Bangladesh and Mexico instead of China, even though China could provide them for
   less (and why it might be a good idea to keep things that way). Learn about what
   happens to a used T-shirt once it's donated to the Salvation Army, and how it
   might end up being sold in a Kenyan's clothing stall instead of your local
   thrift store.
   
   There is not a dull moment to be found in the book, and in fact seems to get
   more interesting as the book wears on. If there is any fault with the book, it
   is that the book was published in 2005 which means that the revised textile
   trade agreements from 2006 have been left out. A revised edition would be
   appreciated. Luckily, that's the only fault I have with the book. Highly
   recommended.

2 comments about Import/Export For Dummies (For Dummies (Business & Personal Finance)).

1. This book is a treasure trove of information, advice and resource contact data for anyone thinking of going into, or already in, the import-export field. In a conversational style, the author walks the newcomer to international business through the myriad of challenges, regulations, and opportunities inherent in doing business with overseas interests. This book should be required reading for anyone thinking of importing or exporting!



2. Import/Export for Dummies is a useful tool for anyone interested in seeking opportunities in importing or exporting. After reading the book I learned more than I anticipated, and my mind is enlightened to many details that I was not aware of prior to reading it. For example I am currently seeking opportunities to import goods to the United States from the Czech Republic, such as pudding-yogurts. The book informed me of all that I need to consider to make any potential deal or order go through smoothly without any penalties or errors that could result in a financial loss. It provided me the guidelines I will need in negotiating with prospective suppliers in the Czech Republic, and how to go about identifying customers in the U.S.
   
   The book is written in a simple and clear approach.
   
   The book is easy to understand and its simplicity is amazing. It is segmented into five parts which focus on setting up the business, learning how to identify applicable rules and regulations, identifying suppliers, find customers and develop an understanding about certain procedures that are unique in importing and exporting (such as: terms of sale, methods of payment, customs clearance procedures, etc.)
   
   As in most Dummies books, examples are abundant, and the author has provided great insight with examples from his professional life and students who attended his seminars.
   
   The book is also full of excellent resources, including a detailed list international trade commission offices for all countries located throughout the United States. These offices can provide assistance in identifying suppliers and also provide valuable insight in the how to do business in specific countries. Additionally, the book also provides information as to various free resources available on the internet.
   
   I would rate this book as an absolute necessity for someone interested in starting their own import or export business. It is the "bible" of importing and exporting that can help inform, warn, and assist you in what you need to know, and do, to make sure the goods you are importing or exporting will move without problems.

5 comments about Mastering the Trade (McGraw-Hill Trader's Edge).

1. This book is a must for day traders. Carter's set-ups for buys and sells are amazing. Since reading and studing his methods I have almost doubled my daily revenue and looking at 6 figures this year.
   
   If you only read one book (and I have read many) this simple to understand and well documented text will serve you for the rest of your career in the market.



2. I was excited to receive this book because it is written by a seasoned professional and as such carries a lot more credibility than one from someone who never actually managed money. I am a money manager and systems developer myself and have managed huge positions and had many hundreds of clients. The first few chapters of the book cover some basics particularly those relating to psychology and setting up to trade. All of it is good. The section on computers is as would be expected for a book published in 2006. Then the book gets into some areas of trading. Chapter 5 is excellent and covers various breadth and/or market internal measurements. I found this chapter to be worth the price of the book as I have always traded with breadth and it was very nice to catch some differt viewpoints and ideas. John Carter is not a systems trader and I am. I code everything and test it extensively. Mr. Carter is a discretionary trader and as I started to code his methods (Part two) I found them to not hold up very well to the scrutiny of computer analysis. The concepts are still of value though, so I still recommend it as excellent reading and a wide array of excellent trading ideas that could be built on. Many times it is the process in the thinking that is of more value that the content itself. So, if you are inclined to purchase the book to find instantly useable trading ideas, you might come up short. But, if you want something that might inspire some of your own brilliance, of course, you may just find a jewel or two. Section three of the book covers more on planning, psychology and the game of trading. This is an excellent book for any level of trader.



3. New to day trading? Read this first and read it often. Plain english with plenty of examples to make clear sense of the trading methods described. I have purchased no less than six books on the subjects of trading, options, investing etc. in the past year, all of them left me with a feeling of not getting what I paid for. Some were just a long winded infomercials for some product or service. Not this book. Worth every penny.



4. This is a MUST read. I have read a lot of books on trading and this book is really the only one that had helped me. That is an understatement. This book had changed my trading life forever!! Read all the other reviews and let me add this. Read the book cover to cover twice. Go to his website and sign up for his newsletter. Get the 4 day seminar on dvd. Buy the 5 indicator package. And finally start making some money. Yes all of this is expensive. It is worth every cent.. I paid for all of this in one day of trading using the indicators and his techniques!! Trading for me now is no stress, no yelling at the screen. And finally I have stopped buying the guy on the other side of the trade dinner or worse. No, I am not affiliated with TTM, this stuff just works and I wanted to share the news.



5. Always looking for more information, I got this book since it is so popular. I already use the "Applied Reality Trading" software, so wasn't really needing Carter's set-ups, but found them informative. And, the rest of the book has much valuable information also, but is lacking in a key area of educating the reader about the importance of risk control and money management.
   
   The areas that were my favorite were:
   
   1) Ways that Carter takes the pulse of market emotions - a) Dive, Captain, Dive - he writes about how when "newbie" traders on a free trial in his trading room press the "submarine dive" noise - the more experienced traders know that it is time to cover their shorts and go long. b) What does your mother think? Another way he uses sentiment from "non-traders" to gauge when the market is topping or bottoming -- is by listening them interpret news headlines.
   
   2) His drawdown rules and profit rules are useful for formulating your own personal rules. For example if Carter is down by 20% for the month he will stop trading for the rest of the month, and, if he hits a 30% total drawdown on his account, he takes a six week break from trading.
   
   3) The profit rules are equally useful. Love his "euphoria" rule where if he has a day in which he makes $5,000 per $100,000 (or 5% return on his money in one day), he will "...take the next day off to escape those feelings of euphoria that cause traders to do stupid things...". And then, he says he will withdraw 50% of his trading profits at the end of each quarter.
   
   The areas of the book that were weak were the following:
   
   1) Risk control is weak, although he briefly mentions at the end of the book to not risk more than 2% of your account equity on any one trade, which is helpful. What has been profitable for me, is using the risk of ruin tables and the optimal f formula to be more precise with exactly how much to risk. You can get some easy formulas on this approach from McDowell's book "A Trader's Money Management System" A Trader's Money Management System: How to Ensure Profit and Avoid the Risk of Ruin (Wiley Trading) and you may find at times it is better to risk 1% or 2.5% or maybe even higher. The percent risked is based on what your pay off ratio and win ratio -- so it is not a shot in the dark with a flat 2% risk.
   
   2) Paper trading has helped me refine my skills and, in my opinion, one weakness in Carter's book and philosophy is that he says "...paper trading it's more worthless than an iraqui dinar...". It will be hard for readers to dive right into the markets trying his set ups and be profitable if they don't test them in a safe environment (like paper trading), to at least see if they hold merit for their personal trading style and psychology. Maybe I'm more cautious than Carter, but I'd rather test the waters before jumping in.
   
   Overall, this book will get you started, but you'll need a few other tools and books to round out your tool kit before entering the markets.

5 comments about A Beginner's Guide to Day Trading Online (2nd edition).

1. I don't have time to write a long review about a book, and I assume neither do you to read it. So I keep it simple and to the point:
   
   I have read several books about day trading and this is one of the best by far. It explains in detail what to do and not to do when you attempt to trade stocks as a beginner. It will stop you from losing money and save you a lot of headaches. Make sure to read it twice!!
   This book is an excellent guide to anyone new to this field, even if you don't know the technical terms. It is not boring either... I wish it had been longer..
   
   Read it!!



2. I've read Toni Turner's other books and she does a great job of taking you from the start of how to do it all.



3. 4 bang 4 the buck buy this book first. 4 beginners or wanting 2 improve your profits trading this book will give u a complete picture of how successful traders think and the tools they use. Like watching over the shoulder of someone in action that is making money and how to set up your trading room. Wish I had read this book when it came out. Buy this book u won't regret it.



4. This is a great book.!!! It tells you all the things you need to know.
   I almost did'nt buy it becouse of the two or three bad reviews but Im glade I did. One of the bad reviews siad this book just says the same things that you can find in other books, well If you had three books on rebuilding a small block Chevy motor...They would say pretty much the same thing. and the title does say A "Beginners" Guid to day trading not an experianced trders giude. If you have traded before or never traded before but are looking to day trade this is a good book. It's alot of BANG for your Buck.!!!



5. Based on all the reviews on this book, and being a fervent student for continuous learning. I'm making it my duty to further study the markets.