Product Description

The Pulitzer Prize-wimming author of The Prize joins a leading expert on the global economy to present an incisive narrative of the risks and opportunities that are emerging as the balance of power shifts around the world between governments and markets -- and the battle over globalization comes front and center. The Commanding Heights is essential for understanding the struggle over the "new rules of the game" for the twenty-first century.

Product Details

• Amazon Sales Rank: #159738 in Books
• Published on: 2002-04-02
• Original language: English
• Number of items: 1
• Binding: Paperback
• 512 pages

Features

• ISBN13: 9780684835693
• Condition: NEW
• Notes: Brand New from Publisher. No Remainder Mark.
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Amazon.com Review
The "commanding heights," according to Pulitzer Prize-winner Daniel Yergin and international business advisor Joseph Stanislaw, are those dominant enterprises and industries that form the high economic ground in nations around the globe. In their analysis of the new world economy, The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World, they examine "the individuals, the ideas, the conflicts, and the turning points" that are responsible. And by considering events such as the ongoing Asian monetary crisis, they suggest what the ultimate interconnection of financial markets might mean in the future.

From Booklist
Yergin and Stanislaw's global tour d'horizon doesn't extrapolate from the discrediting of various shades of socialism that free markets are here to stay. The situation varies from country to country. The authors report on the post^-World War II performance of significant national economies and, moreover, on the politicians who, starting with Margaret Thatcher, advocated the disengagement of the state from the economy. This work complements Robert Skidelsky's Road from Serfdom (1996), a readable analysis of how the predictions of free-market economist F. A. Hayek came true. The authors supplement their research with interviews of influential economists and politicians over the past two decades, such as those who implemented "shock therapies" in ex-communist countries. The authors' judgments are reasoned and seasoned, far from podium-pounding homilies on the free market; rather, they explain why the welfare state was so appealing after the war, then how it gradually sputtered into 1970s stagflation. Renders wide-ranging acquaintance with the basic ideas of contemporary economics. Gilbert Taylor

Review
...a book that must be read by anyone who responds to its powerful subtitle.... It has been a long time since I have read a book in which intelligence and readability were so felicitously mixed. -- Los Angeles Times Sunday Book Review, Robert Heilbroner

Daniel Yergin and Joseph Stanislaw write clearly and have the journalist's talent for fixing personalities in our minds with biographical detail. No one could ask for a better account of the world's political and economic destiny since World War II. -- The Wall Street Journal, Kenneth Minogue

Gary Becker Winner of the Nobel Prize for Economics, 1992 An absorbing, well-written narrative of the victory of market forces over communism and socialism. The authors effectively and dramatically show how ideas and events combined to produce the most important economic revolution of the second half of this century. -- Review

It is an extraordinarily ambitious undertaking, combining the history of milestone events in countries as diverse as France and India, the biography of leaders as different as Margaret Thatcher and Deng Xiaoping and the evolution of ideas ranging from Keynesian economics ... to the Chicago school of free markets. But it is also a brilliantly successful project, a colorful and even suspenseful story of how the world has been transformed over the last half-century. -- The New York Times Book Review, Jeffrey E. Garten

Yergin and Stanislaw trace the course of our century's enchantment with central planning from its first hopeful postwar expressions to its dissolution in recent decades under the relentless pressure of the marketplace and its partisans. It is a grand tale, and they relate it with admirable ambition and energy, even if in the end they fail to do it full justice.

They rightly consider Hayek the leading thinker in the revolt against statism. The problem with Yergin and Stanislaw's presentation of his views is that it scants their essential aspect, which is political and legal. As they would have it, the confrontation between market and state basically concerns information, that is, which side knows more. For Hayek himself, however, the overriding reason state control of economies is "the road to serfdom" is that it vastly expands the opportunities for the governing class to serve its own narrow interests.

Such messily political matters are not fundamental to Yergin and Stanislaw's account. This no doubt explains their strange insistence that the state may soon come roaring back to reclaim its place atop the commanding heights. Whatever misfortunes may befall the newly liberalized economies of the world, however, far too many people have learned that political power, even when exercised in the name of public-spirited economic ends, corrupts in direct proportion to the ambition of its reach. -- Commentary, Gary Rosen

Customer Reviews

Highly Recommended!
The second half of the 20th century was marked by the ebb and flow of government influence over national and international economies. Daniel Yergin and Joseph Stanislaw characterize the balance between government and private marketplace clout as a battle for the commanding heights of the economy. They trace this fight back to the years after World War II, where they discover that capitalism had been widely discredited and governments were basking in the glow of wartime victory. With descriptions of the catalytic people and events that moved markets and policy, Yergin and Stanislaw have turned an essentially academic topic into a readable book, which is as much about economics as it is about history. As engaging as the stories are, don't assume you're in for a light read. Many business books today have plenty of sizzle, but not much steak. We at getAbstract recommend that you sink your teeth into this big, juicy T-bone of a book, a rare treat for intellectual readers searching for economic adventure and substantive history.

A Very Interesting and Unfinished Story
"The Commanding Heights" is well written and offers a very good historical overview of the economics of the middle and late 20th Century. There are wonderful historcal explanations of the rise of socialism in the west and communism in the east as well as the two grand economic schools in the west which were the products of John Maynard Keynes and Frederich Von Hayek. From this point the authors go on to give some form and explanation of globalization and the benefits and negative fallouts that are associated with it.

As a whole the book is absolutely worth reading, however keep in mind that the writers develope a certain point of view. The reader is left with the impression that after the free market revolutions of the 1980s Keynes was put to flight and it is obvious that what we need are even more open markets and that this is the solution to all the world's problems. Keep in mind that there are some goods and services that the market simply cannot deliver and like most cycles in history this debate is probably not settled.

As for their explanations on globalization they are pretty much on the mark. Obviously free markets are what is needed in most parts of the world and the move towards them will absolutely make the world a better place in the LONG run, but maybe a much less agreeable place in the short.

There are numerous supplements that I would recommend with this book, but I won't list them here. Make this a part of your journey to understand the wider world, but do not make the mistake of thinking this is the final answer. There is much more to learn and understand than this book offers. Great place to start however.

Did You Say "A Lively Economics Book"?
Don't be scared, Commanding Heights, in every sense, is a lively yet informative economics book. A text for everyone, from the main street person to Milton Friedman

The writers, Daniel Yergin and Joseph Stanislaw, are both players of the business world, and Ph.D. holders (Yergin's from Cambridge University, where he was Marshall Scholar, and Stanislaw holds a Ph.D. from Edinburgh University). Furthermore, Yergin's book "The Prize" was awarded the Pulitzer Prize. One could only expect a dry, scholarly frightening work from the two, but, surprisingly, Commanding Heights is anything but intimidating.

This is a very good introduction to 20th century's economic plans and philosophies- from Gandhi's "swadeshi" to Thatcherism of the late 1970s and 80s to the 'global economy' of the 90s and present.

The book's treatment of Thatcher and Thatcherism is very good and readable, and almost enlightening. The portrayal of Margaret Thatcher is illuminating, if not flattering for the subject. The Thatcher of the book is not the evil witch of left-wing politics, but that of a hard-working, decent and uncompromising woman from a lower middle class background. Her (political) partnership with Joseph Keith and her devotion to Keith's plan is intriguing, and her David-and-Goliath battles with the 'establishment' is inspirational. ("I am the rebel head of an establishment government" she once boasted). Keynesians beware- this book might turn you into a Thatcherite!

Another highlight is the book's treatment of Latin America's economic dogmas and policies. Here, Chapter Nine of the book, it reads like a dark, compelling, political thriller authored by Vargas Llosa (Not surprisingly, Llosa's name appears in this book). Like the rest of the book, this chapter is highly fascinating and lively.

With great clarity and intelligence, this is a highly recommended 'big' book. A great companion as we face a new century. READ IT!