Sign in with Facebook
Loading...
How the West Was Lost: Fifty Years of Economic Folly--and the Stark Choices Ahead
by
Dambisa Moyo
In How the West Was Lost, the New York Times bestselling author Dambisa Moyo offers a bold account of the decline of the West’s economic supremacy. She examines how the West’s flawed financial decisions have resulted in an economic and geopolitical seesaw that is now poised to tip in favor of the emerging world, especially China.
Amid the hype of China’s rise, however, the...more
Amid the hype of China’s rise, however, the...more
Hardcover, 240 pages
Published
February 15th 2011
by Farrar, Straus and Giroux
(first published August 17th 2010)
Friend Reviews
To see what your friends thought of this book,
please sign up.
This book is not yet featured on Listopia.
Add this book to your favorite list »
Community Reviews
(showing
1-30
of
459)
Reading this book was a little like having a dinner party and listening to a know-it-all who can tell you a million reasons why the world is going to shit in a hand basket and, worse, a million different remedies. Many of those remedies are so drastic that a few of the guests choke on their steak when they are mentioned. Others sound so outlandish (America defaulting on its debt to "press reset") that a hitherto quiet and unnoticed English gentleman in the corner says, "this has all gotten a bit...more
A must read for any socially aware citizen...
Moyo presents a clear picture of how the west, USA specifically, lost their economic superiority to the emerging "rest" through systematically implementing myopic economic policies over the last three decades.
From the tech boom in Asia of the early 80's to the 21st century housing bubble bursting in the 2008 economic crash, Moyo gives a succinct, if bleak, account of American missteps that virtually handed the reigns freely to the developing world.
Alt...more
Moyo presents a clear picture of how the west, USA specifically, lost their economic superiority to the emerging "rest" through systematically implementing myopic economic policies over the last three decades.
From the tech boom in Asia of the early 80's to the 21st century housing bubble bursting in the 2008 economic crash, Moyo gives a succinct, if bleak, account of American missteps that virtually handed the reigns freely to the developing world.
Alt...more
Li a versão portuguesa deste livro - A decadência do Ocidente, pela Bertrand
O livro é um excelente relato, simples e muito bom para introduzir a não economistas e não financeiros, os riscos e efeitos do recurso ao crédito.
A primeira parte do livro relata os últimos 50 anos do Ocidente e as suas opções económicas e geopolíticas que, na perspectiva da autora, contribuíram para a situação de decadência económica a médio prazo e para a transferência dos centros de poder para outras paragens (os BRIC...more
O livro é um excelente relato, simples e muito bom para introduzir a não economistas e não financeiros, os riscos e efeitos do recurso ao crédito.
A primeira parte do livro relata os últimos 50 anos do Ocidente e as suas opções económicas e geopolíticas que, na perspectiva da autora, contribuíram para a situação de decadência económica a médio prazo e para a transferência dos centros de poder para outras paragens (os BRIC...more
I'm not quite sure what to make of this. While she's clearly well-informed on the issues, she spends way too much time discussing the Housing Bubble in the US and not nearly enough on the WTO which basically handed the keys of the World Economy to China.
She seems to believe in Free Trade which is basically what has caused the coming Chinese hegemony that in turn alarms her so much.
She doesn't emphasise enough how America's decline has been caused by excessive military spending and apportions to...more
She seems to believe in Free Trade which is basically what has caused the coming Chinese hegemony that in turn alarms her so much.
She doesn't emphasise enough how America's decline has been caused by excessive military spending and apportions to...more
This is a very scary book about the future that faces the West if we don't get our act together. Is it alarmist or accurate? It does seem to be backed up by a lot of data. One of the scenarios that it points towards is the USA defaulting on its national debt and truning to protectionism to protect and rebuild its economy, with the flow on effects of the collapse of the US dollar and decimation of China's ecomonic growth (given it is the largest holder of US debt and also dependant on debt-financ...more
The Table of Contents and the bold headings tell the main information. China reflects the U.S.A. a decade ago. China needs to learn from our mistakes--debt vs. equity/savings, over consumption vs. conservation, quantity vs. quality. U.S. GAVE economic, military, political supremacy away. Economy = capital, labor and technology/knowledge. Cash is king, labor cheap, knowledge stolen, high salaries for the lucky few (sports/entertainment/CEO's--with little return on investment. Need to invest in ed...more
Very enlightening book.
Having had more experience with emerging market and developing economies; I sought to understand what ailed developed economies despite their previous dominance.Dambiso discusses various economic themes and provides insighful examples which make it less of a text book experience.
It was easy to relate the challenges adressed in the book to the current state of the global economy and it gave that "it makes sense" feeling to the reader.
However, I think the recommendations ma...more
Having had more experience with emerging market and developing economies; I sought to understand what ailed developed economies despite their previous dominance.Dambiso discusses various economic themes and provides insighful examples which make it less of a text book experience.
It was easy to relate the challenges adressed in the book to the current state of the global economy and it gave that "it makes sense" feeling to the reader.
However, I think the recommendations ma...more
My old economics professor's favorite phrase: "There is no free lunch." It has been quite a while since I have read a book on economics, so I was particularly drawn to this one. It would be interesting to see an update as it has been a few years since its research and publication. I probably liked the book, because the author shares my own view, that one of the reasons BRIC(Brazil, Russia, India and China) is able to accomplish many economic feats is because their capitalistic activities are oft...more
I really enjoyed this book but mainly because it backed up my own opinions of the disastrous economic direction we have going in the West for much of my life. I enjoyed the economic statistics that were supplied and was most impressed by her conclusions as to the choices left to us to avoid bankruptcy (or embrace it as the case may be). On the con side I thought she got onto very shaky ground when she ventured outside of the economic narrative. Citing Wikipedia as one of her historical sources w...more
I appreciated the main point of Moyo's argument, but as the book went on it felt that she repeated her arguments quite a bit. HTWWL was an easy read, yet provided enough detailed statistical data to explain some complex economic theories.
What confused me was that Moyo railed against the way the US (and to some extent the UK) government had so misused its labor, capital, etc. and then turned around and suggested that more government control was necessary to fix what was broken.
All in all, I tho...more
What confused me was that Moyo railed against the way the US (and to some extent the UK) government had so misused its labor, capital, etc. and then turned around and suggested that more government control was necessary to fix what was broken.
All in all, I tho...more
How the West Was Lost, Fifty Years of Economic Folly – And the Stark Choices Ahead; Dambisa Moyo
“once an idea is out it can be used and improved upon by anyone, anywhere, an idea has a marginal cost of zero”
This quote is referring to the spinoffs from the magnificent technology that enabled the Apollo moon landing in July 1969. I was a vagabond watching it on a storefront TV in Athens, Greece, along with a small crowd who didn’t own their own sets, or had to be in downtown Athens on that day, aw...more
“once an idea is out it can be used and improved upon by anyone, anywhere, an idea has a marginal cost of zero”
This quote is referring to the spinoffs from the magnificent technology that enabled the Apollo moon landing in July 1969. I was a vagabond watching it on a storefront TV in Athens, Greece, along with a small crowd who didn’t own their own sets, or had to be in downtown Athens on that day, aw...more
I am not a tough grader of books because producing a sensible piece of work is very very difficult but found that the author here could have done better with her categories. The title of the book is so far removed from its content because it concentrates on some of the real economic policies blunders of successive US administrations but to add examples from Uk once in a while does not constitute what is known as "The West". I have no doubt about the author's credentials at all but would be cauti...more
I'm rather conflicted on this book. I want to like it but I just don't.
I have a couple of problems with the book generally. First, although her discussion of how and why over-investment in real estate (specifically homes) has created a treadmill of ever-rising prices that regularly creates disastrous bubbles in the economy is very clear and persuasive, it still bothers me to hear her speak of homes, pensions, and healthcare as terrible ideas. She does acknowledge that a welfare state can be well...more
I have a couple of problems with the book generally. First, although her discussion of how and why over-investment in real estate (specifically homes) has created a treadmill of ever-rising prices that regularly creates disastrous bubbles in the economy is very clear and persuasive, it still bothers me to hear her speak of homes, pensions, and healthcare as terrible ideas. She does acknowledge that a welfare state can be well...more
This is an important book, but not a good book. Dr. Moyo answers the questions that is on everyone's lips in America these days, is something wrong with our economy? If so what?
Dr. Moyo states that the United States has misallocated: capital, labor and intellectual property over the past 50 years. The country and it's people have made poor choices with regard to these area.
Capital - Dr. Moyo lays blame on the equity culture in America, specifically the high amounts of leverage used by equity hol...more
Dr. Moyo states that the United States has misallocated: capital, labor and intellectual property over the past 50 years. The country and it's people have made poor choices with regard to these area.
Capital - Dr. Moyo lays blame on the equity culture in America, specifically the high amounts of leverage used by equity hol...more
May 10, 2011
Alex
rated it
2 of 5 stars
·
review of another edition
Shelves:
2011-read,
az-book-club
This book started strong. Moyo's description of the West's mis-allocation of labor and capital were awesome and eye-opening.
But at times the book seemed to descend into doomsday predictions (hence, the title), calls for a stronger centralized state, and lists upon lists of stats that I could pull off the Internet myself. That said, her concerns about America's economic position were intimidating and not without basis.
My largest concern with the book's thesis is that it seems to assume a world...more
But at times the book seemed to descend into doomsday predictions (hence, the title), calls for a stronger centralized state, and lists upon lists of stats that I could pull off the Internet myself. That said, her concerns about America's economic position were intimidating and not without basis.
My largest concern with the book's thesis is that it seems to assume a world...more
1 like · like · see review
Moyo is a controversial economist who offers a different view of how the Western economy works and its problems. She questions some sacred cows of our thinking regarding home ownership, pension funds and the use of resources of all kinds. It's a "make you think" kind of book. Definitely worth a read even if it makes you mad or makes you question what the future holds if the status quo is maintained.
Excellent explanation of the current US economic quagmire, helped along by a very helpful book layout. However, author is deeply committed to American neo-conservatism; opinions are to be taken with a pinch of salt.
Also, surprising is the fact that, for someone who believes so resolutely in the virtues of the open market, the author (inadvertently) vindicates Keynesian policies.
But enjoyable and informative read overall.
Also, surprising is the fact that, for someone who believes so resolutely in the virtues of the open market, the author (inadvertently) vindicates Keynesian policies.
But enjoyable and informative read overall.
Dambisa Moyo es muy elocuente en su relato de la continua decadencia económica de occidente, principalmente por la perdida de sus capacidades industriales y deuda.
Moyo particularmente se centra entre la relación de Estados Unidos y de China y los desequilibrios estructurales entre ambas economías.
Moyo particularmente se centra entre la relación de Estados Unidos y de China y los desequilibrios estructurales entre ambas economías.
An intelligent and insightful explanation of the West's decline and the East's increase. A book that will help us understand the current and future economic panorama. A good policy outline, for both the 'West" and "Rest"
This book is a fascinating read that realistically portrays how the world's most advanced countries have thrown away their powerful positions through poor economic policies that have created boom and bust cycles.
Best macroeconomics book I have read. Not a text book but an understandable explanation of the current economic situation. I wish a book about solutions for my personal finances was as clear as this book.
This is a straightforward book which examines how America’s flawed decisions and blinkered policies choices around Capital, Labour and Technology – key ingredients for economic growth and success - have resulted in an economic and geo-political seesaw that is now poised to tip in favour of the emerging world. It's a must reading....
A dense read that draws on the history of American economics to explain and predict the future of the global economy.
I thought it was a very good read, highlighting the causes of the financial crisis in the US and why if it continues with it's current policies, it is in line to loose it's crown as the global economic power.
However, professional economists are not that good at predicting future outcomes. Alot of the predictions are based on alot of "ifs", if the US continues its trend on becoming a welfare state, if the US continues with its current foreign policies, if China and the rest continue on allowing t...more
However, professional economists are not that good at predicting future outcomes. Alot of the predictions are based on alot of "ifs", if the US continues its trend on becoming a welfare state, if the US continues with its current foreign policies, if China and the rest continue on allowing t...more
A book with a very interesting premise, but which never really goes into enough depth.
Excellent insight into the current state of world economic affairs and political systems.
Aug 02, 2011
Mumbi Musonda
is currently reading it
hard exam ination on western policies
The book was a great disappointment after the excellent Dead Aid by Moyo. Moyo spends practically the whole first half of the book explaining elementary mathematics again and again in a very tedious manner. The latter half is more interesting, but it still provides fairly little new insight. It's basically just yet another book on the housing crisis.
This book has a lot of problems, especially in the second half. I don't recommend it.
Jul 20, 2011
Mark
added it
In person, Dambisa Moyo says she is a "free marketeer." It doesn't show at all in this book.
There are no discussion topics on this book yet.
Be the first to start one »
Dr. Dambisa Moyo is an international economist who writes on the macroeconomy and global affairs.
She is the author of the New York Times Bestsellers "Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa", "How The West Was Lost: Fifty Years of Economic Folly And the Stark Choices Ahead" and "Winner Take All: China s Race for Resources and What It Means for the World".
Ms. Moyo
...more
Share This Book
No trivia or quizzes yet. Add some now »
“Ask most people who live in a home and have a mortgage on it whether they own their own home and the answer is almost guaranteed to be a resounding 'yes'. Yet it's the wrong answer. Technically speaking, until they have paid the mortgage off, they don't own it. Herein lies the difference between reality and illusion, between ownership and control. This confusion lies not only at the individual level, but also at the heart of government thinking.”
—
1 person liked it
More quotes…
updated Jun 21, 2011 01:52pm