Colibris

Recent commentators on Russia’s economic reforms have almost uniformly declared them a disappointing and avoidable failure. In this book, two American scholars take a new and more balanced look at the country’s attempts to build capitalism on the ruins of Soviet central planning. They show how and why the Russian reforms achieved remarkable breakthroughs in some areas but came undone in others. Unlike Eastern European countries such as Poland or the Czech Republic, to which it is often compared, Russia is a federal, ethnically diverse, industrial giant with an economy heavily oriented toward raw materials extraction. The political obstacles it faced in designing reforms were incomparably greater.

Shleifer and Treisman tell how Russia’s leaders, navigating in uncharted economic terrain, managed to find a path around some of these obstacles. In successful episodes, central reformers devised a strategy to win over some key opponents, while dividing and marginalizing others. Such political tactics made possible the rapid privatization of 14,000 state enterprises in 1992-1994 and the defeat of inflation in 1995. But failure to outmaneuver the new oligarchs and regional governors after 1996 undermined reformers’ attempts to collect taxes and clean up the bureaucracy that has stifled business growth.

Renewing a strain of analysis that runs from Machiavelli to Hirschman, the authors reach conclusions about political strategies that have important implications for other reformers. They draw on their extensive knowledge of the country and recent experience as advisors to Russian policymakers. Written in an accessible style, the book should appeal to economists, political scientists, policymakers, businesspeople, and all those interested in Russian politics or economics.

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When Lehman Brothers bank went under, the world gasped. One of the world’s biggest and most successful banks, its downfall was the event that sparked the slide of the world economy toward a Great Depression II. This is the gripping inside story of the dark characters who ruled Lehman, who refused to heed warnings that the company was headed for an iceberg; the world-class, mid-level people who valiantly fought to get Lehman off its disastrous course; and, the crash that didn’t have to happen. This is a news-breaking explanation that answers the question everyone still asks: ‘why did it happen’? Larry McDonald, a former vice-president at Lehman Brothers in charge of distressed debt trading and convertible securities, was right at the centre of the meltdown of the company and gives an intimate look at the madhouse that Lehman became. This book shows beyond a doubt that Richard Fuld, the long-time CEO of Lehman, and his top executives, were totally out to lunch, allowing Lehman’s risk profile to reach gargantuan proportions. While the traders, like Larry McDonald, clearly predicted more than two years in advance that the market for packaged subprime mortgages and credit default swaps would evaporate, the high-flying Lehman bosses pushed hard on the gas pedal until the very end.

Pret: 45 Lei
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You think it’s only some politicians and journalists who lie for a living? Read Brian King’s fine, witty book and learn the truth.’ John Humphrys ‘An enjoyable account of the varieties of lying, with amusing examples drawn from every field - from advertising and politics to the little white and grey (and sometimes black) lies we tell ourselves and our loved ones’ Metro ‘King concentrates on human lies in modern life, and they turn out to be everywhere.

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The United States is the only superpower in the world today. Although the media are filled with prescriptions for how Washington might best wield its power, rarely are other countries asked what role they would like the United States to play.

In What Does the World Want from America?, writers from twelve countries or regions (Brazil, China, the European Union, France, Germany, India, Iran, Israel, Japan, Russia, Singapore, and South Africa) answer the question, “In an ideal world, what role would you want the United States to perform with your country and region?” Four analysts from the United States then respond, addressing the extent to which overseas opinion should be incorporated into the formulation and conduct of United States foreign policy and recommending what the United States should attempt to do in the world, particularly after the horrific attacks of September 11. What Does the World Want from America? serves as a starting point for analysis of the US role in the world and the ends to which US power might be used.

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