Craig Werner's Reviews > Boomerang: Travels in the New Third World

Boomerang by Michael   Lewis
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's review
Mar 05, 2012

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bookshelves: political-economy
Read on March 05, 2012

A follow-up to Lewis' excellent book on the American financial meltdown, The Big Short. Boomerang expands the scope to include the melting or melted economies of Greece, Ireland and Iceland, with side trips into the worlds of Germany banking and California municipal finance. The take-home message is pretty simple: a whole lot of theoretically intelligent people made a whole lot of incredibly idiotic decisions (or perhaps non-decisions, merrily rolling down the hill inside an immense snowball heading for the cliff). Lewis writes well and the book resonates with the recent headlines from Greece. There's not a whole lot here that hasn't been available to anyone paying close attention to the business section of The Economist, but Lewis has a nice eye for detail and it's a quick, smooth read. I would have liked a bit more on what might be done to put Humpty Dumpty back together again, but that's not really a part of Lewis's job description.
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