5 comments about Africa Rising: How 900 Million African Consumers Offer More Than You Think.

1. So as the accolades and awards rolled in for "The 86% Solution," his 2005 book about how companies reach the billions of consumers in emerging markets, Mahajan was busy filling in the gap.
   
   "I was feeling very uncomfortable because I was not finding much on Africa, and my consulting and teaching rarely took me there," the University of Texas marketing professor said in an interview. "Toward the end of the book, around 2003 and 2004, I could feel something was going on in Africa. I said, 'My God, I have to really dive into this.' "
   
   After four years of research, dozens of 4 a.m. phone calls and thousands of frequent-flier miles, Mahajan put his misgivings to rest with "Africa Rising: How 900 Million African Consumers Offer More Than You Think." The book builds on many of the conclusions Mahajan reached in "The 86% Solution": Emerging markets, even in the nascent stages, can deliver healthy returns for a company that takes time to understand local customers, the products they want and need and how and where they purchase them.
   
   The message was easy enough to digest when examples came from India and China, each a booming economy with plenty of positive press and hundreds of multinational companies paving the way. With Africa, Mahajan has a harder sell, especially given the endless stories of war, malnutrition, corrupt regimes and poor health care. One executive quoted in the book derisively called the West's constant, negative media coverage "CNN Africa."
   
   Yet "Africa Rising" comes at what could be a threshold point in the continent's economic history. Per-capita income in many countries is higher than in China and India, Mahajan writes, and the steady development of African markets could help foster an atmosphere that encourages political stability and entrepreneurial frenzy.
   
   In many respects, Mahajan argues, Africa currently resembles India and China before their emergence. "Whatever is happening in India and China, those stories are the best things to happen to Africa," Mahajan said. "Even Africa feels if these two countries can do, we can do."
   
   Of course, no single book can dispel the deep-seated picture of the continent, but Mahajan does offer a credible counterpoint with numerous anecdotes about successful multinational companies and local entrepreneurs. For all the barriers to running a business -- and this book doesn't sugarcoat the fact that many exist -- a growing pool of middle-class consumers in Africa offers a lucrative opportunity.
   
   Those challenges and opportunities can be one and the same. A company ultimately must address the wants and needs of its customers, Mahajan writes. Coca-Cola, for example, built an extensive distribution network to reach some of the smallest towns throughout much of the continent. It uses the same network to deliver condoms in an effort to help limit the spread of AIDS. It also built a factory in Nigeria that can supply ice to its local vendors during power outages.
   
   Moncef Belkhayat took a different approach in Morocco. A former executive at Procter & Gamble, Belkhayat bought up a bunch of independent shops and pieced them into a chain of small, neighborhood retail shops called hanout, which offer a sort of informal credit. (Such shops exist virtually worldwide. In an interview, Mahajan remembered a small store near his childhood home in India. He would pick up a few things his parents needed, and his father would square the bill at the end of the week.) Belkhayat organized the chain's operations, including its distribution system, and then "formalized the informal" by entering into a partnership with BCME Bank. He still offers credit to his customers, but he also offers a range of basic banking services to boot.
   
   Reading such anecdotes, one gets the sense that any company with sufficient imagination and flexibility can build a successful business there. In that sense, Mahajan runs the risk of putting too rosy a picture on these emerging markets.
   
   But he's careful to include constant reminders that successful ventures in Africa require sharply different thinking. The opportunity is there for entrepreneurs and investors who address the problems of "CNN Africa" but see the continent through another channel, too. As one of Africa's most successful entrepreneurs says in the book: "(W)hen there is a gap between reality and perception, there is good business to be made."



2. Africa Rising is an exceptional book. It is certainly geared toward a marketing professional but the general public will have a lot of stereotypes of Africa shattered. Like most Americans, I thought of Africa as a place on only widespread hunger and violence; no "normal" life. This book really opened my eyes. Although there is rampant poverty in many places, and some areas are still unstable, there are many more success stories than what we hear about.
   
   Since this book is aimed at business executives, sometimes the readability suffers. The first chapter seems to be a mishmash of a lot of information all lumped together. The rest have a somewhat better flow. For the casual reader without a strong business background, the author makes some reasonable assumptions that may make the text occasionally harder to understand. For example he assumes that the reader knows that Saatchi & Saatchi is a world-leading advertising agency.
   
   Each chapter is packed with illuminating information. There are endnotes with plenty of references to the source material, and the index is very thorough. Each chapter ends with a handful of "thought" questions to help get the creative thought processes kick-started. Real companies and individual entrepreneurs are spotlighted to bring the topics alive.
   
   Some interesting tidbits of information from this book: There are only 100 ATMs in Uganda, a country of 27 million people. Phone minutes have become a medium of exchange, much more useful than hard currency.
   
   An example of a myth shattered, at least for me. In Egypt, I expected a country of a few rich oil sheiks contributing to the bulk of the economy, where in fact, over 30% of the GNP is in the "informal" economy, or unreported income. So there is a large amount of income at all levels in that economy.



3. An interesting book - the back cover gives you a pretty good overview of what he offers here, and the first several chapters are somewhat redundant.
   
   If you buy his premise, that Africa is a largely untapped market with more money than we think, then there is no reason for him to beat a dead horse by giving us additional reasons to sell to Africa.
   
   That being said, he goes on to give us some really good ideas of the types of things Africans buy, the regional differences, the kinds of businesses that are booming right now, and the kinds of things they're looking to import. A very interesting read.
   
   As a small business owner, however, I'm struggling to see the application. Unless one intends to spend a lot of time traveling Africa and building businesses & relationships, most of this seems useful only to mid-to-large corporations (i.e., utility companies, credit card companies, pharmaceuticals, cell phone services, etc).
   
   Additionally, the overall tone of the book is a little disturbing. I find it sad that we can think of a nation in terms of what they consume, or what we can sell them.
   
   Still, though, I did find it interesting. The author provides a brief updated view of the politics, geography, and economics of a continent that Americans usually tend to think is poor and deprived.



4. Vijay Mahajan, author of The 86 Percent Solution: How to Succeed in the Biggest Market Opportunity of the 21st Century, and eight other titles brings us a wonderfully balanced view of Africa. Mahajan, a marketing professor from India predicted his home country's success decades ago. Now, he is doing the same with Africa Rising.
   
   The author discusses how much of the world views Africa as a charity case, rather than a market opportunity with more than 900 million consumers. Various market segments from: food, clothing, medicine, shelter, cell phones, bicycles, automobiles, education, water, and more are referenced. Colorful photos are also included.
   
   Such areas like the media, advertising, and entertainment, or Nigeria's booming film industry, "Nollywood" were also outlined with detailed examples of growth sectors.
   
   This book is highly recommended for Africanists, Marketers, Entrepreneurs, and more. Some large firms, such as Coca-Cola, Pepsi, and Guinness, have already taken full advantage of the African arena, with not only their products, but with clever advertising systems.
   
   As a Master of Business, I found this text to be truly enlightening, and hope that others will take part in the growth and sustainability of African's economy.



5. Before I went to Nigeria in 1996, I had no realistic concept of Africa and Africans. I met a people faced with impossible corruption and crumbling infrastructure...yet also filled with courage, hope, a drive to succeed, and incredible entrepreneurial spirit. I was ashamed at the fact the U.S. ignores so much of the real situation and potential in Africa, painting an incredibly diverse continent with one brush. The real wealth in Africa is not minerals, gold, or oil: the real wealth is its people.
   
   This timely book is a good overview of the potential for business development in Africa, including many of the challenges and opportunities for foreign investors, from the small import-export business to the largest corporations. The real key is the "Trade not Aid" focus. While aid is important, the real road to helping Africa is developing its people and their local businesses, who in turn can develop Africa appropriately in partnership with external entities. The concept of Ubuntu and social entrepreneurship is the real key.
   
   There are some weaknesses, such as the reality that government stability and integrity (corruption etc.) is a real problem, and that there are great differences not only among countries, but also among the ethnicities within each country, and especially the urban-rural divide in every country.
   
   But overall, this is a positive book that has been a long time in coming. I hope that business schools consider adopting this text in their international business classes.

5 comments about The Coming Economic Earthquake: Revised and Expanded for the Clinton Agenda.

1. The revised edition of The Coming Economic Earthquake has some interesting information. For a somewhat different view you should check out "The Christian Financial Crisis" by James L. Paris.



2. Those some of his predictions (such as 2000) about an economic earthquake hasn't happened yet nor are we that close even with the largest deficit in history. Although it's hard to predict such things...But Larry Burkett makes valid warnings about huge goverment and public deficits and it's impact on the economic that normally leads to hyper-inflation. My impression from the data contained in the book and history thereafter, the government deficit will not have a negative impact such as hyper-inflation till most of the baby boomers are retired. I wish Larry would have updated this topic! The book is still worth buying as it has valuable information, it's super cheap...



3. In the old testament when a prophet made a prediction that didn't come true they were exposed as a false prophet, taken out and stoned to death. I'm certainly not recommending it- just putting some perspective on our extreme tolerance for people that are consistently WRONG in their predictions. Only God knows what's going to happen, and it's GOD not government, or even we ourselves that provides for us. Burkett and a whole host of "Christian financial advisors" put WAAAAYYYYY too much stock in "planning and preparation". I don't discount it, but they do it and recommend it to the point of pride and idolitary. Do what YOU are supposed to do, and let God do the rest. Quit WORRYING (as worry is a sin) and trying to predict the future and get on with your life!!!



4. This book clearly outlines why the recession is here and it was written in 1991 predicting it. Although the writer is Christian, he does not explain the recession as an end of times brought on by God. Previous reviews written by Christian haters should be ignored. Larry Burkett explains clearly what the government has been doing wrong with regards to our economy and why it is doomed. I highly recommend this book.



5. Written in 1991, and just analyzing the US economy based on its accumulation of debt, Burkett makes some startling predictions, including a fictional chapter of what might happen that reads like the headlines of October 2008. With government spending out of control, even more promised spending on the way, and a people that now expects entitlements - the collapse has to be near. There simply isn't enough money in the WORLD to keep propping up the US debt.
   
   The parallels with 1930s Germany and 1970s Argentina should wake up folks to the disastrous effects of runaway debt, both personal and national.
   
   As a Christian, though, Burkett makes sure to point out that all these difficulties are really just symptoms of the greater root problem: the nation has turned from God.

5 comments about Open Veins of Latin America: Five Centuries of the Pillage of a Continent.

1. Keep the good work upp!



2. This history is told from the point of view of the oppressed people detailing the horrible conditions in Chile during the Industrial Revolution.



3. A friend recommended this book and I thank him for making me aware of this. Africa and its problems I am very informed about, but what is going on in Latin American no. To become aware of the products we enjoy such as coffee and sugar, cotton and not knowing of the pain and agony involved in other lives is inexusable in to-days world, hopefully through this book people will become informed.



4. "Open Veins Of Latin America" has not lost its importance in almost 40 years of circulation, today more than ever, Eduardo Galeano's poetic journey through the history and suffering of Latin America is a vital work of scholarship and observation, it is a record of how the Americas were born and grew. From the Spanish Conquest to the Cuban Revolution and beyond, Galeano touches on nearly every key moment of Latin American history and brilliantly shows the reader how the events of the past helped shape the status of the present.
   
   Part of the genius of this book is how Galeano manages to chronicle in fine detail the history of Latin America but also clearly shows how certain economic orders were established, any reader who wonders who countries like Bolivia and Peru have such wide gaps between rich and poor, white and indigenous communities, needs to read this book. In breathless detail Galeano takes us through the Spanish conquest, using historical documents and eyewitness accounts to record the suffering and terror indigenous communities endured for the sake of imperial expansion. Galeano brilliantly connects the dots between the economic and social models established at the time and the current conditions of these countries today, consider Bolivia, where racial tensions are indeed flaring up again due to the election of an indigenous leader, Evo Morales.
   
   The worlds Galeano paints are rich in detail and fascination, heartbreak and hope. We visit forgotten cities in Peru, once paved in silver, now condemned to misery, we explore the mines of Bolivia where indians lose their lungs to fumes and tunnels and we step into isolated villages in Brazil, where the ghosts of dead miners are said to still hold Mass on rainy evenings. Key historical events are described with visceral energy such as the outbreak of civil war in Guatemala after a U.S.-backed coup, the eruption of "La Violencia" in Colombia where thousands perished in a bloody rampage following the assassination of a progressive candidate for President. Galeano cheerfully bashes fascists including right-wing groups trying to stop Salvador Allende's nationalization of copper in Chile by warning parents with false propaganda that their children will be flown to the USSR or Cuba for indoctrination. Galeano also tells the cold hard truth about the military junta that ruled Brazil (with U.S. help), including their pass time of burning books.
   
   "Open Veins Of Latin America," like all great books, enthralls, educates and makes the reader aware. Historical figures we don't hear much about in normal textbooks come alive in Galeano's writing, fascinating figures like Nicaragua's Sandino, Mexico's Hidalgo and Zapata and Peru's Tupac Amaru reveal a heroic tradition of resistance against imperialism and repression. Some complain about Galeano's Leftist leanings, but much of what he records is simply based on fact, on documented history. Events like the Cuban Revolution, the Mexican Revolution and Haiti's slave uprising are thrillingly chronicled and their outcomes explored with keen insight.
   
   Latin America remains a place that fascinates many, it is a complex region that is politically, ethnically and religiously diverse, Galeano manages like few writers have, to capture it all in this beautiful volume. "Open Veins Of Latin America" has so much information, so many stories, characters and histories that a full review does not suffice to explore it all, for those who wish to really KNOW about Latin America, this book is a must. It is a history of economies, countries, bloodshed and tears, and most importantly, of people.



5. ...that only goes to the old, tired and overused idea to blame the U.S. for every problem affecting Latin America. From the difference in the way our different colonial economic paths began, to portraying the Castro regime as the "true" liberators of the hemisphere.
   
   The mere "omission" of Latin America's cultural political traits, and their endless propensity towards all too central governments and all to corrupt leadership through the ages becomes conveniently omitted. Al to show (regardles of the facts) that the social class contradictions are located at the international level between the have and have not states.
   
   Just another attempt to create another American guilt trip. And a laughable one at best......

5 comments about Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism.

1. Critics of free trade tend to fall into two camps, irrational and rational. The irrational camp includes hard core socialists and developed world nationalists such as Lou Dobbs, who have an almost religious belief in certain statist policies as some sort of recipe for broad based prosperity absent much evidence and they simply ignore any evidence that policies such as protectionism may do more harm than good. Ha-Joon Chang falls into the second group. His book is generally quite well written and he regularly acknowledges the trade offs involved in his discussions.
   
   Anyone looking for evidence to raise trade barriers or further regulate markets in the developed world won't find it in this book. Chang is quite critical of "neoliberalism" but he generally seems to suggest low trade barriers on trade and foreign investment are wise in the developed world, or at least he doesn't think they are wrong. His argument is whether such policies are wise in the developing world and he goes on to argue for state-driven development strategies for developing nations.
   
   Some of his arguments are interesting and even persuasive. Chapter 9 ("Lazy Japanese and thieving Germans") provides one of the best rebuttals I have seen of the argument that suggests some cultures are destined to fail. He doesn't say culture doesn't matter; merely that it isn't fixed over time.
   
   Chapter 8 ("Zaire vs. Indonesia") has an interesting discussion of corruption. He suggests corruption is not necessarily incompatible with economic growth and modern China is certainly an example of the argument's validity. Nevertheless, he concludes corruption is worth fighting because it erodes confidence in governing institutions.
   
   Other parts of the book are less compelling. One of his central messages is that proponents of free trade are ignorant of (or at least unwilling to acknowledge) the history of protectionism among now developed world economies. That may be true of the free traders he encounters casually but anyone who is even remotely familiar with the economic and political history of the US and UK would know they employed protectionism in the past.
   
   I can't completely reject the argument that developing nations should engage in some protection of domestic producers, but his discussion of the topic tends to omit two problems. He rarely discusses the downsides of protectionism, such as the fact that if tariffs are used, it raises the prices of consumer goods to citizens, rich and poor alike, of those countries. Second, he admits that industries should not be protected in perpetuity but seems to assume such protections will be phased out at an "appropriate" time. Protected industries and their advocates generally don't want to give up the special privileges they enjoy and are often quite successful at delaying or even preventing the day of reckoning. Developed world agricultural subsidies are a perfect example. It is much easier to prevent a special privilege from being enacted in the first place then to end it once it is in place and has developed a constituency to defend it. At some point the costs of a protection that has outlived its usefulness outweighs whatever initial benefits it might have brought.
   
   His discussion of state-owned industry in Chapter 5 also omits certain complications. He ignores the political difficulty in rationalizing a money-losing state owned enterprise. Unions can make demands of a private firm but ultimately they don't have an interest in seeing it go bankrupt. However, there is less of a restraint on union demands in the public sector because the treasury can be seen as a bottomless till. On page 113 he also makes an argument for state ownership of natural monopolies, such as electricity or land line telephones, ignoring the poor performance of many instances when these industries are in state hands.
   
   Chang likes to cite countries that rejected the free market approach, but he is often selective in his examples. Some Asian countries, such as South Korea, China and Japan do appear to have successfully managed state-driven development. However, there are still plenty of others that are less appealing. Many of the far left love to cite Venezuela but much of Venezuela's success is from the oil bonanza, not necessarily wise economic policy. After a decade of increasing state control, nearly half the Venezuelan work force remains employed in the informal economy, devoid of labor protections enjoyed by those in less statist economies; even though Venezuela is flush with oil revenues.
   
   Chang makes some mistakes or dubious statements in a few cases. He associates the Chrysler bailout with the Reagan Administration, when it was actually enacted under President Jimmy Carter. He also makes a reference to the "September 11 bombing of the Word Trade Center" which makes him sound like some nut job conspiracy theorist, although I did a Google search and didn't find any references that associate him the 9/11 conspiracy theories, it was a curious statement just the same.
   
   I gave the book three stars because it is generally well written and acknowledges real world trade offs. I don't find all or even most of his policy prescriptions persuasive but he does make some of the better arguments for state driven development in the underdeveloped nations. Anyone interested is some credible counter arguments should check out Freedom From Want: American Liberalism and the Global Economy or In Defense of Globalization: With a New Afterword



2. this book along with naomi klein's the shock doctrine, michael albert's parecon and robin hahnel's economic justice and democracy are the best modern criticisms of free market capitalism. though chang seems to favor some form of market socialism blended with regulated capitalism, and i dont fully agree, the argument against free market capitalism is compelling and sound.



3. The author rightfully points out that (firms in) underdeveloped countries can not compete successfully with the big international companies. Dropping their defenses (allowing free trade) usually ruins them. All this is proved very well in the book and is also competently discussed in most other reviews. But this is not the end of the story.
   What happens to the population in the developed countries under such free trade? The big companies have the incentive (better profits!) to move factories abroad or just to sell them. Well-paid jobs are lost. Entire industries are moving away. Therefore, the workers in the developed countries also suffer and as a result, the majority of the population suffers too. The only winners for the moment are the big internationals. In the long run they are doomed too.
   Take America and China. The big American multinationals (think Wal-Mart) made a deal with China and gradually most American manufacturing moved to Asia. The big multinationals profited, China profited too (it got the plants and the know-how). Who lost? American industry workers lost their jobs. The talking heads explained that everyone benefited. Not true! Cheep goods? What about quality goods and good salaries? When you loose your job and go to work for Wal-Mart, a cheep shirt is no relief. The special skills of the workers are lost and these skills represent valuable investments. You can not benefit without a manufacturing industry. When you have no industry you have no engineering, later - no science. The bad Samaritans are bad also for their own countries



4. Naomi Klein's masterful work Shock Doctrine documents in exhaustive detail what is wrong with the free trade theory and practice that is being enforced around the globe. This work, though much smaller and simpler in scale, essentially confirms what Klein says, that the IMF and WTO and World Bank are not the helpers of the developing world, but their enslavers. Klein, however, personalizes her accusations, blaming the Chicago Boys (ie disciples of Milton Friedman's Chicago School of economics) and presents it as almost a grand conspiracy. Chang sees less bad intent and more misunderstanding behind the disastrously wrong prescription being given to the world for how to prosper.
   
   The writing style is clear and simple, and no one should have much trouble following Chang's line of reasoning. He makes good use of a few simple metaphors to prove his point. His image of his son, and his need for sheltering and support until he can get an education and grow up to be a productive member of society is memorable--the point being that urging under-developed countries to compete on a level playing field with mature manufacturing countries is just as silly as sending his 8 year old off to work would be. The comparison is telling because just as the non-productive years of a child's life is what enables him to become well-educated, so too there are children whose future is foreclosed by their need to work from childhood. Developing countries are in just that position.
   
   The main weakness that I see in this book is a certain thinness in the factual support. Very large conclusions are often apparently supported by a handful of examples. His native Korea was as poor as Mozambique just a generation ago, and look what it's done. Therefore, don't rule out Mozambique as a future world power. But are there other similar examples? European travelers thought Japanese were lazy 100 years ago. Ok, but the evidence is one or two small anecdotes. Was that really the general view? Was it really a widespread belief that Germans were inefficient and corrupt?
   
   Also, most who oppose things like NAFTA in this country do so because it is hurting our own economy. Is there really much concern in the US for the consequences for the poor countries? One can only assume that free trade must be beneficial for *someone* and if it isn't the poor countries, it would probably be...us. So the idea that we're doing this for our own benefit may not sit well with American protectionists.
   
   But an enlightening read, and very accessible.



5. This piece is arguably the most thorough examination of corporate driven globalization to date. In this highly critical work every aspect of free trade and neo-liberal policy is examined. Mr. Chang is sure to give you the neo-lib reasoning to their policies and breaks them down with the facts.
   
   He starts and ends the book with hypothetical situations. In both instances he presents an purposely exaggerated, but still quite plausible, depiction of what free trade could look like in the future. IMO the best chapter is number two. In this chapter he examines the United State's and British rise to prominence. You quickly realize it was not through a "level playing field" or a "Golden Straight Jacket " as advocated by Thomas Friedman, but through 40% tariffs and mass state intervention.
   
   Specializing in development econ. Chang spends most of the book looking at how the IMF, WTO, and WB have implemented neo-lib policies and consequentially devastated economies in the global south. His argument and evidence are damning! The statistics provide alone are enough to make the book worth reading. The issues of inflation, corruption, child labor, Intellectual property rights and, democracy are all analyzed at length.
   
   The most important thing to take from this work is that free trade is partially acceptable when nations have fully developed and their "infant industries" are ready to step onto the global scene. However, this can take many years where protectionism and other statist policies are required. There is no alternative for developing nations. Nations that stick with their low productivity "natural advantages" stay on the same economic level. Only when countries defy the market and seek new tech. do they climb the latter to prosperity that the Western World is maliciously kicking down.
   
   I'm studying to be a professor in International Relations and I assure my future students this will be a required text!

2 comments about The New Elite: Inside the Minds of the Truly Wealthy.

1. I've spent the last 18 months researching academic journals, scientific and popular literature about how those who achieve the top 5% of wealth end up where they are. I've gone through three dozen books, of which four were quite good and the others were brutally poor.
   
   The New Elite by Taylor, Harrison and Kraus stands head and shoulders above the rest.
   
   The book serves two broad purposes.
   
   1) You learn how wealthy people think and who they really are.
   2) You learn the fundamentals of how they will perceive your marketing to them. (Are they interested in what you have to sell?)
   
   Either of the two is a good enough resaon to pick up and devour this book.
   
   THK have undertaken their own research which asks all the right questions. Their analysis is spot on and what readers of every income bracket can gain from what is here could be life changing.
   
   This is not a self help/how to be successful book. It does not set out to accomplish that, but if you simply read between the lines...
   
   Five stars.
   
   Kevin Hogan
   Author of The Science of Influence



2. It has been said that the wealthy are different. Well, not so much. In fact, according the in-depth study done by the authors of this book, the wealthy came not from wealth but from middle class backgrounds. They therefore have all of the middle class ethics and needs, wants and desires.
   
   Yet within the wealthy, there are differences. From first becoming wealthy to having had wealth over a decade or more, money brings different meaning to the groups within the wealthy.
   
   If you're a marketer, you should read this book. I came to it as someone who makes a living understanding different groups and how to sell to them. To that end, I got a good deal of useful information from the book.
   
   You'll learn what they read, what they buy, how they feel about their wealth and money in general. You'll learn far more about them by reading this book than anything you might see on television.
   
   It is full of research. It has lots of facts and figures and very little editorializing, which I like. This is by far the most interesting and best written book on this subject that I've read and I highly recommend it to you.
   
   - Susanna K. Hutcheson

5 comments about Ugly Americans: The True Story of the Ivy League Cowboys Who Raided the Asian Markets for Millions.

1. Get's a little lost at times but a very fast read. Would make an interesting movie.



2. i heard from industry people that actually knew the person mentioned here, so the person does indeed exist, but the story isnt true. Lots of BS and conspirary that the author just puts in to entertain the reader...



3. This book is like Ben's others, a good read that keeps you wanting more. It is clear that the author enjoys digging deep into what these intelligent, elite Ivy Leaguers do with their connections and smarts. The book follows a Princeton grad on his deep dive into the Asian world and shows how the natives view the over-bearing visitors and how the visitors could care less about how they are perceived.
   
   Expensive motorcycles, ubiquitous sex, high dollar deals and a daily dose of living on the brink of the next big deal, keep you interested and amazed at what these young hot shots are exposed to and how they handle it.



4. Just finished this book and found it very entertaining. It is definitely not a book on how to trade. It is a very interesting story that I suspect is somewhat dramatized. Reads like a novel.
   
   I wouldn't worry about suspected minor innaccuracies. Maybe most people can't rent a car in Bermuda, but if you have $50 million I'll bet there is a way around it. As far as Ivy league schools not giving athletic scholarships that is not exactly true. It is a matter of semantics. Most people familiar with education in the Northeast understand that prep schools and Ivy league universities don't give "athletic" scholarships, but they do give "financial aid" that just happens to fall substantially upon good athletes even if their families are well off.



5. This was a quick read that gave an inside look into the industry in Asia. I found the book well-written and informative, as well as entertaining. I highly recommend.

4 comments about Africa Doesn't Matter: How the West Has Failed the Poorest Continent and What We Can Do About It.

1. Terrific analysis of Africa's ongoing troubles in the 21st century and the failure of modern concepts of "aid" (however well-intentioned).
   
   The book is not really an easy read; it's more of a textbook, even with the anecdotal touches. Very dense at times.
   
   However, if you want a great overview of the history of modern Africa, the history of modern aid, and how various approaches have broken down in the past, this is a great primer.
   
   Most interestingly, Bolton points the way to the "holy grail" of aid: real solutions that can work to change the face of Africa forever.



2. This book is not a self righteous tirade against developed countries not doing enough. Rather, it's a clear expose of what are the real problems facing poor African nations, why billions of dollars in public and private aid over many decades has done so little to raise standards of living in Africa, and, importantly, what you and I as citizens of the developed west can do to make a real difference.
   
   Surprisingly, his answer is not "The West must give more money."
   
   He develops his case from both personal experience and careful research. Drawing on economic data from World Bank and other sources, Bolton lays out the relief industry in easy to follow charts - where the money comes from, where it goes, how effective is it.
   
   He sketches out the African historical context, from pre-colonial times, to the century-long period of western colonization, the wars of independence, and the current political and economic struggle to ascend from poverty.
   
   View the full review at http://insidework.net/resources/readinglist/does-africa-matter



3. A great book on the subject. As I read the book (almost finished) I'm amazed at how clearly he exposes the issues surrounding Africa, development (or lack of), trade, corruption, aid, etc.
   
   I've always wondered why was Africa so poor and with such an apparent lack of prospects. I remember way back many, many years ago, a school trip to an exhibit on africa and poverty. There was great emphasis (almost exclusive) on corruption and western aid. As the book explains, yes: corruption is a big problem and yes: western nations do provide some aid. But both aid and corruption have a story to tell of their own. As well as many other factors.
   
   The reality is that Africa's story has a lot to do with the Western world. And to the Western world "Africa doesn't matter" even though our actions have a big effect on African people.
   
   Again: it's a great book, very well written, very clear insights into the issues surrounding Africa.



4. Don't waste your time on this whining, disjointed diatribe. Get a real book with real solutions in it, "Banker to the Poor" for example, which shows how the west can apply intelligent market solutions on a micro level to improve lives on a global scale.Banker To The Poor: Micro-Lending and the Battle Against World Poverty
   
   Gilels Bolton in this Africa book does have some salient points, such as the sledge hammer approach used by NGO and Banker-types who want to write reports, generate budgets, and get reimbursed for so called "high risk" assignments to pad their paychecks. I've seen those men and women, sitting in nice hotels in Gulu and Kampala, Uganda, writing reports on shiny laptops before they speed away in Landrovers. I never saw any of them in the IDP camps or villages actually learning or doing anything. But the money rolled in and rolled right back out to their payrolls.
   
   In fairness, this is a book about the failures of the west, and it is true that the west did not create the Grameen bank, or the Village Phone project, etc. So it's true that the west is floundering, working against itself and failing to really help at the level it could, based on resources available to wealthy countries. And he does have some general ideas on how to improve our efforts, mostly centered around restructuring trade rules and getting large USA interests to stop hogging all the donor dollars so they can be spent inside the developing countries.
   
   On the other hand, why aren't failures of African leaders, like corruption figures detailed as carefully as USAID budget numbers, or WTO failures? Corruption in African leadership is now considered just the cost of doing business, siphoning off so much money that the poor see almost nothing. The problem is mentioned repeatedly but then quickly brushed away to the margins, to keep the finger pointed directly at the west for all the blame.
   
   Yes it's sad to see such things so indemic to Africa, but there are some real solutions happening that raise living standards, health and lives of families often with help from western finance and workers. The Grameen bank has been emulated in many ways in Africa, applying the laws of self-interest and economics of personal wealth to dramatically change lives. The Nobel committee recognized it, and rewarded microenterprise innovator Muhammad Yunus for his profound contributions over 30 years, in 2006.
   
   So, much as I admire Mr. Bolton's heart, I can't say his book will help at all. I'm sorry but as someone who has been to Uganda and worked in the camps, I hoped for a better book, at least one that reflects more careful thought and more up-to-date research into the stunning improvements microfinance (for example) bring when the creative and enterprising people of Africa are empowered to work on their own problems.

4 comments about Beat the Forex Dealer: An insider's look into trading today's foreign exchange market (Wiley Trading).

1. bought the ebook version of this sometime back for a couple of bucks and thoroughly enjoyed it..short and to the point just like i like my books to be :) and actually has some good ideas.
   
   some of his trades are a bit hard to follow, but at least it's great not to be treated like an idiot for once in a trading book..



2. as someone that has read a lot of fx books out there, i thought it was an honest and straight-forward look at the way fx markets work and thoughts on why most traders fail. if you're looking for a basic how-to guide this is not it, but a refreshing take on trading from someone with an actual track record it seems.
   
   trying to add some of the hedge fund techniques he preaches to my own trading, we'll see how it goes..



3. I dont agree with the other reviewer, I thought the ideas in the book were very clear and actually very simple, so much so that after I read it I decided to switch brokers.



4. Unlike most Forex books, this does not reiterate basic strategy and definitions. Rather, it assumes that the reader knows the basics, and concisely reveals how the Forex dealers can use those strategies against the reader. The author's material corresponds well to common complaints from traders worldwide (check out Forex trader blogs at any website). The graphs are well-laid out, and helpful for elaborating on the counter-strategies described by the author. A quick read, but surely complex enough for re-reads. I cannot comment on whether the author's strategies will indeed ensuring "beating the dealer" (have not tested them yet), but I think that revealing how the Forex establishment can take advantage of traders will make readers more cautious, and less trusting. Should be part of any advanced beginner's library.

5 comments about Getting Started in Currency Trading: Winning in Today's Hottest Marketplace (Getting Started In.....).

1. This book is very true to its name, definitely for those of us who aren't experts at trading yet. The book is filled with a general overview of the forex world and I would say that this book should be the first one any novice picks up (even before babypips).



2. I have been trading currencies for about a year and a half now, and this was a great start to get a broad picture of the FX market.
   
   This isn't a "dummies" step by step but it is a clear overview of trading in the currency market.
   
   It could be written with a little more... excitement or novelty. It is a fairly clinical read. It isn't a good comparison but triple w dot babypips dot com is a fun version of the material in this book. They are not associated but the web site is a good primer for this read (or vise versa).
   
   The basics are all covered and that makes it worth the price.



3. I originally bought this book in February 2007 after watching an infomercial on currency trading. This book is good for anybody who wants to start currency trading but dont know where to begin. After reading it, I was hooked.Now one year leter I am trading the currency market and now I am successful at it.
   
   This book will give you the basic knowledge and foundation of the currency market.If you are someone who is already trading and have experience then this book is not for you.
   
   Also once you read this book read it at least two more times.



4. I found many errors in this book, especially in chapter 8, "The Calculating Trader", as well as some in other chapters. Unfortunately, if you don't catch these errors, this book will only confuse you more. If you do catch them, it will just annoy you. Granted, I have the first edition of this book (2005); hopefully these errors have been corrected in the new June 2008 second edition. I gave the book 2 stars because it does have some decent overview information in it.



5. This one's got info re gotchas that I haven't seen anywhere else. Read it before you risk actual money.

5 comments about High Wire: The Precarious Financial Lives of American Families.

1. This is a GREAT book and I would encourage every citizen of America to read it, young or old. It's actually a hair-raising book. Well researched and each chapter has a personal, true life story of a family or individual that has been challenged with the topic being discussed.
   
   Since the other reviews to date go over the book, I want to share what I took from it. First, I got out all my insurance policies after reading the chapters on how the insurance industry has slowly & slyly sandbagged us consumers. I read them with a fine tooth comb and voila! wouldn't you know it - just like the author said they were doing, well that is what they are doing. Sneaky company (and this is one of the Big Three property/casualty companies in California and the rest of the country) well guess what, they did exactly what the author said they were doing - changing the terms of the policy in such a way that the ordinary consumer, you & me, who (unfortunately) trust our agents so well ... are/were clueless that this got by us. Yep they changed me from the Guaranteed Replacement coverage on my home to the Limited Replacement + some percentage of cost overrun. And it got by me and I'm pretty smart (at least I thought I was). Just as it has probably gotten by most of you too. I called my agent last month and he told me it was the best policy money could by, Limited but with a 150% total replacement ratio, and furthermore the company I was considering replacing them with, well they had a reputation of quoting low and then next year WHAM they would sock it to me. I don't think so because that company is the one used exclusively by AARP and I just don't think AARP would stand for that kind of treatment. But back to my agent .. funny, but my policy said ... 125%. My agent disagreed with me and spoke to me in such a way that I would never want to go look further. But I did look further and HE WAS WRONG. I called the Home Office and got clarification and it is 125%. MY AGENT DIDN'T KNOW WHAT HE SOLD ME and my agent has been my agent since 1988 - or my agent wants that commission. He's a nice guy, I really don't know. But I'm not asking him. I got very angry when I realized that I had been sandbagged and g-d forbid if my house did burn to the ground, I would end up paying out of pocket over $200,000 to rebuild it just as it is.
   
   Just as many of the Oakland/San Diego and other parts of California that have faced total losses have had to do.
   
   The case studies in the book are all the same - about how the families of Oakland and San Diego fires really took it on the chin. The losses above the policy limits were/are staggering. Guess what, with rare exception, I'll bet you a zillion bucks that if you are reading this review or the book, chances are you are grossly underinsured.
   
   I changed that. I changed companies and policies in the last 2 weeks. And surprisingly, between my car, home and umbrella policy, I went DOWN $600/year in premium along with going up from $1M to $2M in my umbrella. That was worth the book right there.
   
   Then on to the ERISA chapters. What a shocker. I really was stunned at what I read. Imagine this law, passed to protect US the workers, in reality does not protect anyone except the insurance companies. Coincidentally there was a story in the LA Times last week about a woman whose 30-yr old husband died and was covered with $400,000 in his group life policy through his job. Guess what, the company and the insurance company refused to pay the death benefit even though the deceased employee paid the premiums for over the 3 years he worked there. The widow sued in state court, the insurance company knows its rights and got it into federal court (because this is ERISA) and the grieving widow was ordered by court to get the premiums paid returned to her and no payment for the policy. And it is not appealable. Who in the world ever knew that? Did you? I didn't. Does this mean that all life insurance policies through your job won't get paid? I guess I was lucky when my dad died 21 years ago because his group life policy did pay me. But then again my dad owned the company so suspect they didn't want to futz with that claim. However the gall of the company to deny the claim and then the courts, under ERISA precedent rulings, denying the payment. I almost fell off my chair. This is just as the author described is happening in the book.
   
   So if ERISA is undermining employee's benefits (and this includes health coverage too, not just pensions, IRA's & other employer provided plans, employer offered disability and the rest of the benefits of the job) and if ERISA is stripping all our rights of we workers, what is left?
   
   The chapters and stories on employeer provided disability coverage almost left me in tears. I usually shed tears only when reading fiction. This was just a scandalous nightmare to read. But I believe it. And the reason I believe it is that my former husband went blind in his last job due to a detached retina-like condition and his privately held disability company policy (coincidentally the same one talked about in the book) denied him his benefits for close to 4 years. Good thing my ex is an attorney and could take them on. 4 YEARS. While my ex is an attorney what he wasn't able to do was to pull money for living expenses out of a hat along with a few rabbits. He ended up on the brink of bankruptcy with this stunt the company pulled. How an attorney that goes blind can continue to be a litigator and read his briefs is beyond me - and the disability company plays the 'let's see who can hold out the longest' game.
   
   This really is sick stuff.
   
   I realize this is a long review. But I decided to list real life stories to support exactly what this book is all about. I have to say, anybody reading this review that is thinking about buying the book, STOP NOW and buy this book. I came upon it at Borders by accident, it was shelved under Economics and not my favorite category which is Investments - and I don't really like economics, but this is an easy & engrossing book to read. And the time has now come at this passage of time in our history that the public, ALL OF US, need to get our heads out of the sand and meet these challenges head on, informed, and not stupidly ignorant. Ignorance costs and at this point of our historical times, NOBODY can afford to be ignorant anymore.
   
   Please read the book. And thank you for reading this review.



2. I read this at work. Mr. Gosselin's descriptions of the displaced "c class" executives shows an expanded view of how so many of us may be going to the dogs. I am just wealthy enough to be able to cruise through the rest of my life, if nothing bad happens. By the way, the book arrived quickly and in excellent condition.
   jb



3. Wow, what a fantastic book! In my quest to understand the financial workings of American society, I came across this book. What an education. As a British expat now living in the US, I have been shocked by just how insecure I feel in my financial life here. Attempting to build an element of security into my family's new life, I am faced with insurance companies that no longer keep their promises, pensions that no longer exist and a host of eager sharks fighting to get me to invest my meagre savings with them. College costs are exorbitant and the economy so fragile that even a masters degree is now more of an albatross around the neck (debt) than a guarantee of a stable income.
   Peter Gosselins book confirmed what I was beginning to realise myself. I'm caught in a game that I have no chance of winning. It is a call to arms; a warning shot across the bow of the presidential campaigns to ensure that the real issues facing this country are included in the ballot. These are the issues that affect Americans every day, so 'Excuse me, Mr. President. In your run for the White House, could you please remember the electorate.'



4. I don't think this book will get much notice or have much impact. Sure, it will encourage those who agree with its points, but I can't imagine that it will reach the general population in a big way. The idea of the book is that Americans, all but the very richest, are being sacrificed on the alter of private ownership that only benefits that thin upper crust of wealthy people. The rest are losing their ability to retire, to have health care, to securely own their homes, provide college educations for their children (or get them for themselves), or even have a job with a good company.
   
   The author does point out the very interesting idea of the "unjob" where many of us work because the traditional career is closed to us for a variety of reasons, yet we can't start our own profitable company (or are working towards that goal), and we scrape by making a living and providing our own benefits with consulting, contracting, or other short term work. Usually we have multiple gigs running at the same time.
   
   My own view is that our system does put too much of the burden of dislocation and disruption on the workers and too little on the companies and executives who either create or decide to use these dislocations as part of their business strategy (even if that is bankruptcy). However, many of the examples Gosselin cites in his book, while unfortunate, are also fairly well to do people who chose to live a life of consumption rather than with prudence and thrift and now want someone to bail them out of their difficulties. Sure, some of them got some very bad breaks in health or dishonest companies. And others did not read their insurance policies closely enough. Still, there is no doubt that some insurance companies push those with expensive claims into court hoping that either the claimant will die before they can collect or that the legal approach will simply be more costly than they can bear.
   
   I thoroughly disagree with Gosselin's notion that somehow we need to turn back the clock and go back a few decades to large corporations that employed people for life and provided pensions. We can't go back because the world has changed, people live too long after 65 to have that be the retirement age. Do you realize that when Social Security was first created only about 3% of the population lived to collect it? We would have to push the retirement age up past 72 or more to achieve similarly "secure" retirements that would not bankrupt companies or society.
   
   While I appreciate Gosselin's good heart and like some of his observations, his prescriptions are faulty and too nostalgic to be taken as a serious prescription for what ails us.
   
   Reviewed by Craig Matteson, Ann Arbor, MI



5. Book arrived just days after I ordered it. Great service from seller. Everyone should read this book to understand exactly what has happened in the past 30+ years that has weakened the economic security of middle income and low income American families. It is frightening and it is happening because so many of us are too busy to keep up with what is going on politically at the national level. No wonder we are in the economic crisis we are because the big corporations have been allowed to run amuck (and over us) for so long.