Reviews for American Finance for the 21st Century

The average rating for American Finance for the 21st Century based on 2 reviews is 3 stars.

Review # 1 was written on 2010-01-24 00:00:00 John Wappler Argentina is a mystery of a nation, almost as much as Russia. This applies especially to the strange trajectory its economy has taken. So a thorough review of Agentina's economic development might offer suggestions as to why, as the author concludes, Argentina is doomed to perpetual failure. Given the history of the development of Argentina's society and economy, what happened on its path to development baffles observers. Argentina's development, to be sure, is unique among nations. But after reading the facts the way Lewis lays them out I think the author seems to miss several insights that suggest themselves. Confining this study in large part to Argentina's economy makes it difficult to read the political factors interacting with the economic ones. For example, from the author's in-depth writing on the subject an important point emerges: The corporatist model of development started by Peron became an implicit repudiation of the concept of the public good. Could this explain why organized labor, as well as organized capital, became pernicious to the nation's welfare? Lewis appears too committed to the conclusion he presses at the end of the book to develop this idea. The book covers the Argentine economy up until about 1991, but subsequent developments there have cast doubt on the author's prognosis (as an example, he argues that Argentina will always alternate between civilian and military governments). Anyone interested in this book should do so for the in-depth story of Argentina's economic development, which the author lays out in four parts, and set aside his thoughts in the final chapter. UPDATE 2012: A year and a half after reading this book, I've decided it deserves another star. The worst that can be said of the book is that it's dated and the author eventually recommends a decidedly neoliberal economic policy as the antidote to Argentina's economic woes. Neither point, I now think, should dissuade potential readers. The book is a unique look at an unusual economic system that defies efforts to categorize it, and Lewis's account is reasonably free of bias. Readers today have an additional 20 years of developments to decide for themselves whether Lewis's prescription could have or can fix Argentina, and the extent to which Argentina's economy needs fixing anyway. Almost all the factors Lewis takes up in the book are still at play in Argentina today, so the book remains much more relevant to modern economic policies than one might expect. Although it's a long book, the subject is surprisingly interesting and absorbing, and the historical developments the author outlines are more thought-provoking than the title might suggest. And despite what I said, this purely economic discourse cannot help but pull all kinds of sociopolitical puzzles along in its wake.

Review # 2 was written on 2014-06-09 00:00:00 Claire Juranic The organization leaves much to be desired and the writing style is exceedingly dry. Despite the importance of the subject, it rests on broad conclusions and assumptions about societal perceptions rather than citing evidence from the era's policymakers and their aims, which would be exceedingly useful to policymakers today. The narrative is ungrounded, jumping from decade to decade and back again, with no recall to previous passages to drive any central thesis home. Perhaps my biggest gripe is the blatant disregard for social liberal/ democratic socialist constructs, with a rigid adherence to the "sanctity" of free markets, as if the West v East German perspective put an end to the debate between the only two available options. If you're one of the unfortunate students forced to read this book, I highly recommend reading only the beginning sections of each chapter and part. It will be the best way to lift any kind of consistent narrative from these pages.