Sabtu, 28 Februari 2015

[E798.Ebook] Fee Download When Is the Next War, by Rudolph R. Windsor

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When Is the Next War, by Rudolph R. Windsor

  • Sales Rank: #1116153 in Books
  • Color: Other
  • Brand: Brand: Windsor Golden Series
  • Published on: 1997-03
  • Ingredients: Example Ingredients
  • Original language: English
  • Number of items: 1
  • Dimensions: 8.25" h x 5.75" w x .25" l, .45 pounds
  • Binding: Paperback
  • 137 pages
Features
  • Used Book in Good Condition

About the Author
Windsor has lectured at churches, organizations, universities, and has appeared on radio and television throughout the United States.

Gary Harrison (Ph.D., Stanford University), Professor and Director of Undergraduate Studies at the University of New Mexico, has won numerous fellowships and awards for scholarship and teaching. He has been teaching courses in world literature, British Romanticism, and literary theory at the University of New Mexico since 1987. His publications include a critical study on William Wordsworth, Wordsworth's Vagrant Muse: Poetry, Poverty and Power (1994) and many articles on the literature and culture of the early 19th century.

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Kamis, 19 Februari 2015

[O404.Ebook] Ebook Download Flourishing: Why We Need Religion in a Globalized World, by Miroslav Volf

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Flourishing: Why We Need Religion in a Globalized World, by Miroslav Volf

A celebrated theologian explores how the greatest dangers to humanity, as well as the greatest promises for human flourishing, are at the intersection of religion and globalization

More than almost anything else, globalization and the great world religions are shaping our lives, affecting everything from the public policies of political leaders and the economic decisions of industry bosses and employees, to university curricula, all the way to the inner longings of our hearts. Integral to both globalization and religions are compelling, overlapping, and sometimes competing visions of what it means to live well.
 
In this perceptive, deeply personal, and beautifully written book, a leading theologian sheds light on how religions and globalization have historically interacted and argues for what their relationship ought to be. Recounting how these twinned forces have intersected in his own life, he shows how world religions, despite their malfunctions, remain one of our most potent sources of moral motivation and contain within them profoundly evocative accounts of human flourishing. Globalization should be judged by how well it serves us for living out our authentic humanity as envisioned within these traditions. Through renewal and reform, religions might, in turn, shape globalization so that can be about more than bread alone.

  • Sales Rank: #274656 in Books
  • Published on: 2016-01-12
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.25" h x 1.06" w x 6.13" l, .0 pounds
  • Binding: Hardcover
  • 304 pages

Review
“Volf brilliantly weaves several strands of argument into an ambitious brief for the positive functions of religion in today’s global village, where the negative consequences of religion are too often written in the blood of innocents.”—Publishers Weekly, starred review (Publishers Weekly)

"Volf convincingly tackles one of the most important issues of the twenty-first century: how we can have a peaceful religious pluralism together with healthy globalisation. He not only gives the facts and analyses the situation perceptively, he also has the depth of understanding of a range of religions to produce a practical way forward that is both realistic and attractive."—David F. Ford, University of Cambridge
(David F. Ford)

"Miroslav Volf's prophetic voice brings a new perspective to the question of what it means to live the good life in a world shaped by globalization."— John J. DeGioia, Georgetown University (John J. DeGioia)

“In Flourishing, Miroslav Volf offers us an enthralling analysis of the mutual interplay between globalization and the world’s great religions, along with an inspiring vision of how great faiths can be enlarged rather than threatened by diversity. An outstanding and timely work by one of the great theologians of our time.”—Rabbi Lord Jonathan Sacks (Rabbi Lord Jonathan Sacks)

“The contemporary globalized world offers a bewildering scene: horrifying acts of religious hatred and cruelty exist alongside zones where people of different religions live in unprecedented mutual respect, even friendly exchange. Digging deep into the sources of his own, Christian faith, Volf offers an insightful and penetrating answer to both these questions.”—Charles Taylor, McGill University (Charles Taylor)

“Make no mistake: everyone who cares about either the church or the world should read this book.”—Greg Forster, Gospel Coalition (Greg Forster Gospel Coalition)

“This is a powerful book. It offers a strong critique of attempts to merge religion and politics, even as it affirms the need for public engagement in pursuit of flourishing of the entire creation. Take and read. It’s that important! In this book a path toward peace is revealed.”—Robert D. Cornwall, Englewood Review of Books (Robert D. Cornwall Englewood Review of Books)

“Insightful, far-ranging, and timely . . . deserves to be widely read.”—Don Schweitzer, The Ecumenist (Don Schweitzer The Ecumenist 2016-08-04)

From the Author
From Miroslav Volf's Flourishing:
 
Despite his fierce anger against God for letting him suffer in a communist labor camp as an innocent man and a socialist, my father, at the time a teenager on the brink of death, embraced faith in God—as he tells the story, it was God who embraced him!—and ended up a Pentecostal believer. The family into which I was born was a faith-island, an austere but beautiful and nurturing social microenvironment. With my first cry as a newborn, I learned that not all forms of religiosity are “religions” in the pejorative sense—mind-shutting and freedom-trampling cultural edifices used as instruments of social control.
 
The Pentecostal movement started some forty years before my father’s conversion, in Los Angeles, 6,318 miles as the crow flies from the camp where he, a 45-kilogram man, was condemned to carry 80-kilogram sacks on his back. Pentecostalism’s founder was William Seymour (1870–1922), a black man and the son of former slaves; he was in charge of the multiracial and multiethnic mother congregation from which Pentecostalism spread worldwide. Seymour’s faith became my father’s faith because a Slovenian migrant worker had converted in the United States and returned back home to spread the good news. Within a single century, the faith of a downtrodden black man from the New World had engulfed the entire globe, shaped the lives of more than half a billion human beings, and garnered the sympathies of prominent religious leaders like Pope Francis. Earlier and closer to home, it delivered my father from death and made him into a new man.

About the Author
Miroslav Volf is the Henry B. Wright Professor of Theology at Yale University and the author of several books, including Exclusion and Embrace, winner of the Louisville Grawemeyer Award in Religion.

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14 of 14 people found the following review helpful.
Incredible Take On the Need For Religion Today
By Vincent
The recent publication of this book came from years of research and an initiative of the Tony Blair (former UK Prime Minister) Foundation on faith and globalization. Miroslav Volf, one of the foremost theologians alive today, attempts to tackle the defining phenomena of the world today: globalization. I cannot say there has been a book that I’ve been more excited to read recently than this one. Volf is surely evidence for the possibility of academic theologians making a real difference in the world and not getting overly bogged down in academic debates only a few will benefit from. I applaud Volf for all the hard work and research that went into this book, and due to its breadth, my review will be quite basic as I am unable to give an account here of all the steps within Volf’s argument.

We are all aware that the world is becoming increasingly more connected – with international trade, transportation, and modern telecommunications – and that this occurrence has had both positive effects (e.g. increasing cooperation among nations) and negative (e.g. exploitation of the “third world,” or environmental degradation). As human civilization continues to become more and more “globalized,” what role might religion play? This is the question that Volf seeks to answer, positing that religions are necessary in the face of the many problems created by globalization (though he is far from thinking of religion merely instrumentally).

Volf begins by describing many of the key features of globalization: high levels of interconnectivity, interdependence, “shrinking” of the world, accelerating technological advancements, etc (p. 35). He points out that many world religions are connected with globalization processes; think Christianity’s spread in the Roman world. In fact, world religions are arguably, due to the content of their faith and the desire to evangelize, the original “globalizers” (p. 39). Yet today, it is the market, or the economy, that is the central factor of globalization. Volf argues that the market is NOT value neutral (whether its proponents realize this). In face of the reality of the effects of the global market, how might religions provide critiques or offer up an alternative? For Volf, religion’s primary usefulness (in this case) is an advocacy for social justice and a vision of flourishing human life. Religions have always been the main proponents of a wholesome vision of human life (p. 45). The goal of this interaction between religions and globalization is not, however, one merely of conflict; rather, religions can work for transformation wherever globalization falls short.

Likewise, Volf thinks that religions’ insistence on the transcendent realm of life is one of the major things globalization lacks. Without a true humanity, what good are material gains anyways? For religion, the material world is subordinate to transcendent values or aims (even though both are necessary and good). All religions teach that one cannot be satisfied only with material goods. Moving forward, Volf identifies the challenge as “Religions can shape globalization only if they resist being made its mere instruments, remain true to their universal visions of flourishing, and learn how to promote their competing visions in a constructive way” (p. 58).

Contrary to the secularization thesis (i.e. the world is becoming less religious), religions are thriving in the twenty-first century. Religious people are increasing in both absolute and relative terms across the globe (p. 62). Further, religions are becoming more publicly active rather than merely reduced to individuals’ private lives. Also contrary to a popular stereotype of religion, they are not escapist, that is, they do not only try to get their adherents to disregard the world and hope for a spiritual “heaven.” The normative claims each religion make call for a transformation of society and the shape of an individual’s life. Religions offer a way of living ordinary life in the light of the transcendent (p. 72). Religions need not compete with material accounts of the world (to think so would be to misunderstand the role of religion). To summarize, Volf writes, “Accounts of the good life are the most important gifts world religions can give to the world” (p. 75).

However, Volf does recognize the malfunctions, both historical and presently, of religions when their followers use them to oppress others or legitimize violence. This primarily happens when a religion is identified with a particular state/politics (this also harms religion by making it merely a tool of the state). Identifying a political goal with a religion is grounds for disaster, and political pluralism actually (perhaps surprisingly) allows religions to be themselves much more faithfully than when they were put in service of the state (p. 86). In judging religion, we cannot do so by determining the amount of material prosperity they provide, but rather through a more wholesome lens to the degree they allow human lives to flourish.

After deploying the concepts that provide Volf’s theoretical framework, he goes onto to discuss how religions can foster a world of respect for others. Though religious (and political) intolerance are on the rise, religions actually have internal reasons for pushing against intolerance. Religions do make universal claims (and therefore seem to be a good candidate for intolerance), yet the centrality of love makes this quite undesirable on the part of religions. All the major religions decry against coercion and instead value inner persuasion to its various truth claims. For Volf, however, this tolerance does not only imply religious freedom (or freedom of conscience more broadly) but also that adherents of one religion should respect adherents of another.

Volf argues that religions are in tension with themselves when they deny others the freedom to practice their own religion. He thinks this because, like John Locke, he believes the transcendent call to faith is personal and calls individuals to be capable of answering it without coercion. Likewise, the practices associated with each religion should be free (and not merely the beliefs). A failure to make this the case is a wrong conflation of religion and politics (p. 113). More broadly in terms of respect, Volf argues that the rule to love others should determine our attitudes towards them (and their religion, if not shared by ourselves). Because all religions have an enormous interest in the truth, they should at least be interested in the universal truth claims of religions other than themselves. Volf lays out a guideline for interaction in which other religions are granted an assumed value or worth. The other major world religions likely have some important things to say about life! Yet, one way to respect another religion is to critically engage its truth claims (and thereby show that it is worthy of critical engagement and not immediate dismissal). Overall, it is possible to respect other religions’ potential to help people become better human beings.

From the political side of things, Volf thinks it is impossible to either exclude religion (at least in a globalized world) or to make a single religion the state religion (this is inconsistent with religion). The former because religions are not private and one cannot convince the religious to exclude themselves (or their ideas) from the public sphere; the latter because it goes against the charge to love one another.

Miroslav Volf then dedicates a chapter to the topic of religious exclusivism (my religion is the true religion) and political pluralism (characterized by an exchange of ideas, democracy, and debate). The question is whether exclusivistic faiths (that is, all major world religions) can support the project of political pluralism that is necessary for a globalized world. (The opposite of these categories are religious pluralism – all roads lead equally to God, and political exclusivism – totalitarian regimes and one-sided government.) Though critics may argue that the universal nature of religions (or their appeal to a single revelatory authority, e.g., the Quran or the Bible) force them to support political exclusivism, the opposite is actually the case.

By critiquing Jean Jacques Rousseau and looking at the historical case of Roger Williams (Puritan founder of Rhode Island), Volf defends the idea that religious exclusivists can easily support political pluralism. Williams, as a Puritan was perhaps the most extreme example of a religious exclusivist, yet he was one of the pioneers of political pluralism. He was banished from the Massachusetts Bay Colony for not supporting the local government’s enforcement of religious teaching. Williams even went on to say that it was God’s will that all people should be allowed the freedom of conscience and that they should never be forced to accept or act in accordance with a particular religion. As one example among many, political pluralism was actually born out of religious exclusivism. “The reasoning was not ‘because faith is supremely important, we must impose it’ but ‘because faith is supremely important, all human beings must be allowed to live by the faith that they hold true.'” In fact, many religious virtues – love, respect, civility, reasonableness – are also conditions for healthy political pluralism.

In the final chapter, Volf tackles the issues of conflict and violence as they pertain to religion and globalization. Globalization has created many of the conditions for peace and has contributed to the decline of relative violence throughout history. Yet, this “peace” has often been created through violence. There is now extreme wealth inequality, and many countries are being exploited. These negatives are often created by an over reliance on seeking material prosperity. This, for Volf, is an area religion can help. The major world religions all teach contentment with material goods and this will remove a lot of the conditions for future conflicts if people were more religious and content.

Even in the absence of physical violence, there remains a global need for reconciliation. Globalization forces a choice to reconcile or not because people are forced to live much closer to others they may hate or disagree with. Long gone are the days when we can completely just ignore our “enemies.” Religions help us to reconcile because they value the truth, helping us to remember wrongs suffered rightly. They also teach to forgive and that revenge is self-defeating and only contributes to further violence. Though religions are bound to come into conflict (at least ideologically) this need not require violence if all sides use the visions of their respective religions faithfully to articulate to the world their own visions of flourishing.

In summary of the main arguments, Volf writes, “The argumentative thread of this book has been that globalization stands in need of the visions of flourishing that world religions offer, and that globalization and religions, as well as religions among themselves, need not clash violently but have internal resources to interact constructively and contribute to each other’s betterment (p. 206).

Volf writes as a Christian theologian. Nonetheless, he is surprisingly knowledgeable (due to his social connections) of the facets of the other world religions, and therefore this book is broad enough to apply globally and not just in a Christian area. The few critiques I had of this book were mostly in the realm of how Volf thinks his argument will actually affect the world. It is difficult to imagine heads of state and ordinary citizens across the world widely deploying his guidelines and theories regarding religions’ role in the world. Volf is very influential, but not quite that much. However, this book, in my mind, functions primarily as a conversation starter in the field and not necessarily the final end-of-story solution to all the world’s problems (does such a thing even exist?).

I would recommend this book to literally anyone. One does not need to be versed in religious studies or theology to comprehend or benefit from the arguments of this book as Volf writes here in an essay format for all. True to his word in this book, I hope that Volf soon publishes his own account of Christianity’s vision for the good life. Now that will be a volume I’d be even more eager to read than this one.

4 of 4 people found the following review helpful.
Globalization requires attention to religion.
By Adam Shields
I have appreciated Volf especially with his work around grace and reconciliation. His book Free of Charge: Giving and Forgiving in a Culture Stripped of Grace is excellent. And while it is still on my to read list, his 1996 book Exclusion and Embrace: A Theological Exploration of Identity, Otherness and Reconciliation is considered a modern theology classic by many (and named as one of the 100 most important books of the 20th century by Christianity Today.)

Volf was originally a Trinitarian specialist. But his biography has impacted much of his work over the past 10 years. Volf grew up in the former communist Yugoslavia. Communism, then the fall of communism and then the breaking apart of the country amid war and ethic tensions moved his focus to reconciliation, politics and interfaith religious issues.

Volf has a strange religious background. He grew up in officially godless communism, but his parents were Pentecostals. His country of origin was dominated by a mix of Roman Catholic, Eastern Orthodox Christians and Muslims. He earned two PhDs under the German Lutheran theologian Jurgen Moltmann. He came to the US and taught at the evangelical Fuller Seminary before moving to Yale, and now identifies as Anglican. But Flourishing largely comes out of several years of jointly teaching a class on globalization and faith with Tony Blair (who converted to Roman Catholicism after leaving office as the Prime Minister of the UK).

Flourishing is both fascinating and feels like I have read the book before. Several other books have made cases for paying more attention to religious issues in international affairs or politics. And there is a long history of books that point out the limitations of our current democracy and economic systems in achieving morality and justice. And the concepts around the need for pluralism in a globalized world felt very well trod.

Despite previously covered ground, I do think Flourishing is a book worth reading. Miroslov Volf is calling on religious groups to step up and act right in a pluralistic world because the world needs the input of religious voices. Right now democracy and capitalism have won the day, but neither, without the influence of religious voices, can inherently move us to a more moral world. Democracy is limited to the morality of the voters and elected officials. Immoral officials and/or ignorant, cynical or prejudiced voters will trample the rights of the minority. As Volf rightly notes, the problem in the middle east is not just violent dictatorships, but constitutional democracies that are making choices that are not pluralistic.

Volf is particularly talking to other Christians in this book. He is trying to make the case that we as Christians should embrace political pluralism. But he distinguishes political pluralism from religious pluralism. This is one of the areas where I think Flourishing is unique. He has a grid of religious pluralism and exclusivism and political pluralism and exclusivism. Volf thinks the healthiest place is where political pluralism and religious exclusivism intersect. The political pluralist embraces the rights of everyone, is outward looking to the rest of the world, but also is held up by moral stamina that comes from religious exclusivism.

Interestingly, he specifically cites the right of the religious right in the United States as an example. Citing training from religious right groups like Focus on the Family, he shows that the moral underpinning of their religious exclusivism undergirds their political action, which is inherently pluralistic. In a diverse world, no one group can make a case for particular actions relying solely on their religious language, but they must also work on adapting their argument to a secular public or a public that has different religious values than their own.

Reconciliation, because it has such a big role in Volf’s work is also brought up in Flourishing (quite rightly.) Volf makes the case that while many wars and other conflicts are rooted in religious difference, religion as a whole has championed peace. And while it may not feel like it, we are living in one of the most peaceful periods of history, in large part because of the role of religions. Volf really does speak about the important role of reconciliation better than almost anyone I have read.

On the whole, part one felt mostly like old material. Part two mostly felt like it was fresh because even when using material from others it was in unique ways. The epilogue felt like a missed opportunity because it was at the end. I think introducing some of those concepts earlier would have been helpful (especially the personal stories). But also the epilogue introduced several areas that Volf will work on in the future.

One significant area that I wish has been addressed directly, is what to do with the religious anti-pluralists. Volf is not a fan of the fundamentalist elements in many religious groups that are anti-pluralist. But they are not insignificant groups and this is an area that I think that many pluralist advocates have not addressed. I asked the same question in grad school when theologian and political theorist Jean Bethke Elshain was a guest lecturer in one of my classes back in 1995 or so. Her answer was that we should just ignore those religious minorities that refuse to engage with the broader society. But I think that is partially how we create angry backlashes. There is a limit to how far people will be willing to feel alienated. At some point those religious minorities will either grow large enough or angry enough that the backlash is felt. Volf and other theorists need to also need to think about how to engage the reluctant to avoid that backlash that potentially will destroy the pluralist democracies that Volf and Elshain and others are encouraging.

I listened to this on audiobook. The audiobook was well narrated but I would like to re-read it in print.

2 of 2 people found the following review helpful.
mandatory
By William S Jamison
Very timely and beautifully argued this book approaches the issue of how religion is necessary but how the pitfalls of competition might be avoided by setting some rules for respect and mutual recognition. Wonderfully thought out and clearly described analyses of what religion is, the kinds and conflicts between them, how important they are to the social structure, what might be done in order to more peacefully form a United Nations like relationship between the world religions and solve some of the serious crises we face. This book should be mandatory for all thinking human beings and even some non thinking ones.

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Selasa, 17 Februari 2015

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Machine Learning Refined: Foundations, Algorithms, and Applications, by Jeremy Watt, Reza Borhani, Aggelos Katsaggelos

Providing a unique approach to machine learning, this text contains fresh and intuitive, yet rigorous, descriptions of all fundamental concepts necessary to conduct research, build products, tinker, and play. By prioritizing geometric intuition, algorithmic thinking, and practical real world applications in disciplines including computer vision, natural language processing, economics, neuroscience, recommender systems, physics, and biology, this text provides readers with both a lucid understanding of foundational material as well as the practical tools needed to solve real-world problems. With in-depth Python and MATLAB/OCTAVE-based computational exercises and a complete treatment of cutting edge numerical optimization techniques, this is an essential resource for students and an ideal reference for researchers and practitioners working in machine learning, computer science, electrical engineering, signal processing, and numerical optimization.

  • Sales Rank: #141473 in eBooks
  • Published on: 2016-09-08
  • Released on: 2016-10-07
  • Format: Kindle eBook

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Rabu, 11 Februari 2015

[Y973.Ebook] PDF Ebook Hello, is This Planet Earth?: My View from the International Space StationFrom Century

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Hello, is This Planet Earth?: My View from the International Space StationFrom Century

  • Sales Rank: #46963 in Books
  • Original language: English
  • Dimensions: 9.25" h x 1.65" w x 9.21" l,
  • Binding: Hardcover

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1 of 1 people found the following review helpful.
Breathtaking photographs - lots of interesting facts
By Zen_Sunrise
I bought this book for my son, who is an Aerospace Engineering graduate and a big Tim Peake fan. I have the hard cover copy of the book and the printing on the cover is excellent and vibrant. The book measures 23,5cm x 23.5cm x 2cm.

This is astronaut Tim Peake's first book. The book is full of beautiful photographs in full colour and the introduction 4 pages long. From the ISS he can see over 1000 km in any direction and his explanation of passing over the French Alps he could see a view stretching from Greece to the UK with just a turn of the head makes you realise just how amazing his journey must have been. He references the camera (Nikon D4) that he used and goes into detail about that.

The back of the book has an entire page with reference to each location of the photograph. This book is ideal for anyone who loves space and especially great to show children and use this book in schools.

The ISS is packed with cutting edge technology including wi-fi and the internet connection to Earth via a satellite (it was very slow).

The book outlines his mission with a sketch covering two pages in the book, from 15 December 2015 (launch day) right through to the 18th June 2016 when he eventually gets back home.

The photographs are breathtaking and the text for each page is roughly 4 lines with many pages referencing many interesting facts about the locations. For example, Emi Koussi volcano which is at the top of one of the pictures, the highest mountain in the Sahara, and the 345 million year old Aorounga impact crater in Chad (bottom of the picture). There is a short description of the picture/photograph and then a small picture showing the location on a map.

I am so happy I bought it and hope my son is going to love it too.

I have added photographs.

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Senin, 09 Februari 2015

[C286.Ebook] Fee Download Postmodern Narrative Theory (Transitions), by Mark Currie

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Postmodern Narrative Theory (Transitions), by Mark Currie

This is an accessible and stimulating summary of the often over-complex theories that have transformed the study of narrative in recent decades. Mark Currie establishes direct links between the workings of fictional narratives and those of the non-fiction

  • Sales Rank: #2542650 in Books
  • Published on: 1998-07-15
  • Original language: English
  • Number of items: 1
  • Dimensions: 8.98" h x .40" w x 5.06" l, .51 pounds
  • Binding: Paperback
  • 184 pages

Review
"A highly intelligent study, covering all the relevant theoretical issues skillfully and clearly." --Professor Frank Kermode, Cambridge University

About the Author
Mark Currie is Lecturer in English at the University of Dundee.

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Kamis, 05 Februari 2015

[N905.Ebook] Ebook Download Lords of Finance: The Bankers Who Broke the World, by Liaquat Ahamed

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Lords of Finance: The Bankers Who Broke the World, by Liaquat Ahamed

It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person's or government's control. In fact, as Liaquat Ahamed reveals, it was the decisions made by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear-that the greatest threat to capitalism was inflation-and by a common vision that the solution was to turn back the clock and return the world to the gold standard. For a brief period in the mid-1920s, they appeared to have succeeded. The world's currencies were stabilized, and capital began flowing freely across the globe. But beneath the veneer of boomtown prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression. As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

  • Sales Rank: #5274181 in Books
  • Published on: 2009-04-27
  • Formats: Audiobook, CD, Unabridged
  • Original language: English
  • Number of items: 15
  • Dimensions: 6.90" h x 1.80" w x 6.90" l, 1.01 pounds
  • Running time: 18 Hours
  • Binding: Audio CD

Amazon.com Review


Amazon Exclusive: Liaquat Ahamed on the Economic Climate

In December 1930, the great economist Maynard Keynes published an article in which he described the world as living in “the shadows of one of the greatest economic catastrophes in modern history.” The world was then 18 months into what would become the Great Depression. The stock market was down about 60%, profits had fallen in half and unemployed had climbed from 4% to about 10%.

If you take our present situation, 16 months into the current recession, we're about at the same place. The stock market is down 50 to 60 percent, profits are down 50 percent, unemployment is up from 4.5% to over 8%.

Over the next 18 months between January 1930 and July 1932 the bottom fell out of the world economy. It did so because the authorities applied the wrong medicine to what was a very sick economy. They let the banking system go under, they tried to cut the budget deficit by curbing government expenditure and raising taxes, they refused to assist the European banking system, and they even raised interest rates. It was no wonder the global economy crumbled.

Luckily with the benefit of those lessons, we now know what not to do. This time the authorities are applying the right medicine: they have cut interest rates to zero and are keeping them there, they have saved the banking system from collapse and they have introduced the largest stimulus package in history.

And yet I cannot help worrying that the world economy may yet spiral downwards. There are two areas in particular that keep me up at night.

The first is the U.S. banking system. Back in the fall, the authorities managed to prevent a financial meltdown. People are not pulling money out of banks anymore—in fact, they are putting money in. The problem is that as a consequence of past bad loans, the banking system has lost a good part of its capital. There is no way that the economy can recover unless the banking system is recapitalized. While there are many technical issues about the best way to do this, most experts agree that it will not be done without a massive injection of public money, possibly as much as $1 trillion from you and me, the taxpayer.

At the moment tax payers are so furious at the irresponsibility of the bankers who got us into this mess that they are in no mood to support yet more money to bail out banks. It is going to take an extraordinary act of political leadership to persuade the American public that unfortunately more money is necessary to solve this crisis.

The second area that keeps me up at night is Europe. During the real estate bubble years, the 13 countries of Eastern Europe that were once part of the Soviet empire had their own bubble. They now owe a gigantic $1.3 trillion dollars, much of which they won’t be able to pay. The burden will have to fall on the tax payers of Western Europe, especially Germany and France.

In the U.S. we at least have the national cohesion and the political machinery to get New Yorkers and Midwesterners to pay for the mistakes of Californian and Floridian homeowners or to bail out a bank based in North Carolina. There is no such mechanism in Europe. It is going to require political leadership of the highest order from the leaders of Germany and France to persuade their thrifty and prudent taxpayers to bail out foolhardy Austrian banks or Hungarian homeowners.

The Great Depression was largely caused by a failure of intellectual will—the men in charge simply did not understand how the economy worked. The risk this time round is that a failure of political will leads us into an economic cataclysm.

From Bookmarks Magazine
Almost all critics praised Lords of Finance for its command of economic history and engaging, lucid prose. Ahamed, noted the New York Times, illuminates wise parallels between the misplaced confidence that spawned the global depression in the 1930s and the illusory calculations of risk that led to the current financial crisis. His compelling biographies also personalize economic history. While critics disagreed about whether lay readers will, in a century's time, care about Norman, Moreau, and Schact, the only negative words came from the Wall Street Journal, which criticized Lords of Finance for an imprecise understanding of the gold standard: "Harrumphing about the ‘gold standard,' Mr. Ahamed reminds me of the fellow who condemned ‘painting' because he had no use for Andy Warhol."
Copyright 2009 Bookmarks Publishing LLC

Review
"Ahamed...easily connects the dots between the economic crises that rocked the world during the years his book covers and the fiscal emergencies that beset us today." ---The New York Times

Most helpful customer reviews

12 of 12 people found the following review helpful.
Worth the read!
By Jackie McCauley

8 of 8 people found the following review helpful.
Full of Useful Information But Conclusions are Arguable
By Erez Davidi
Lords of Finance is a financial history of the western world from after War World I through the roaring twenties and, later on, the Great Depression. It does so in a unique way by following the lives of the four most important central bankers (Germany, France, US, and Britain) at the time.

As the title suggests, the author puts most of the blame on the central bankers. He cites two main reasons that led to the Great Depression. The first is the reparations that Germany was forced to pay to the Allies after WWI that put an unbearable burden on Germany's economy. The second is the gold standard that prevented the central bank from increasing the money supply, which, according to the author, could have prevented the Great Depression.

I won't dive into the exact details, but I would like to point out that the author's conclusions are not very conclusive. He completely ignores economic policies implemented by Hoover in reaction to the unfolding crisis, which some economists argue prolonged the Depression. Monetary policy plays a vital role, but it's not the whole story. He puts most of the blame on the central banks, which failed to inflate the money supply enough. However, he also fails to mention that in 1920 the US economy suffered from double digit unemployment, and that the Dow had crashed by 47%. The Fed and Washington's response to that severe slowdown was to do nothing; surprisingly the economy recovered a year later.

Lords of Finance is a good book for its data and great writing, however, it's less valuable for its conclusions and analysis.

3 of 3 people found the following review helpful.
Not the caliber of a Pulitzer
By MDCRABGUY
Personally I believe this book won a Pulitzer due to it's timing rather than literary merit. It provides a survey of economic conditions following WWII through WWII reviewing economic conditions that led to the Great Depression. One of my issues is David Hoffman goes into great detail about personalities, way beyond what is needed. The first x chapters are dedicated to the four principle bankers/financiers providing their personal backgrounds and very minimal historical background. In addition, throughout the book he provides personalities for every indivdual that is introduced with way too comments about frivilous details. I found it distracting and took away from the flow. For example, he comments on dinner menus, at the Bretton Woods Conference he discusses how some guests excerised above Keynes room most likely disrupting his rest.

If I scored the epilogue I would Give Lords of Finance a one. David Hoffman injects values based on ecomics first presented by Keynes and applied post-WWII. The author invokes his 21st century value and knowledge of the world leaders, and injects the idea that Benjamin Stong of England would have taken a different course of action 1931 to possibly avoid the depression or at least lessen its impact. This is complete conjecture, particularly when when Hoffman finds these economic leaders, including Stong making mistakes at every step following. His analysis for the economic collapse is correct, but please do not inject current understands of ecomic forces as being available and understood by these individuals or their contemporaries. Keynes was the lone voice, but at the time his theories were new, untested, and considered radical.

On the positive side Lords of Finance provides a very good survey of the activities that led to the Great Depression following WWI. The book is written is not technical and are easy to follow. Keynes insight to present alternative economic approaches and counter balance the decisions and actions of the four world economic leaders. The storyline picks up with each chapter particularly after 1921. Several simple graphs are used to demonstrate the imbalances and economic weaknesses.

When reading a historical account I want to be brought into the period and have a sense of what individs were thinking and feeling. Lords of Finance did not capture the emotions of the period. Of course it discusses the hardships, but does not bring it to the personal level. Nor does he provide the emotional responses these four leaders were feeling. What the book presents is an accounting of the numerous missteps leading to the Great Depression following WWI. Hhhhh

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