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Money, Markets, and Sovereignty (Council on Foreign Relations Books) Hardcover – April 1, 2009
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Top Customer Reviews
The book is mostly descriptive rather than prescriptive, hence the 4 stars (rather than 5). But know that going in and you won't be disappointed.
Our national, economic and business leaders should all read this book because current trends with the dollar cannot be sustained. The only thing saving the dollar's status as the world's reserve currency today is the lack of an alternative. However statist politicians and economists have an amazing ability to not let reality interfere with their theories. If medical research was run on the same 'scientific' principles as economics, eye of newt and salamander tail would still be major drugs, bleeding would be the major surgical procedure, and medical students would be studying the four humors, much as all economics PhD candidates and MBA's today learn about perfectly efficient markets and completely rational investors (which means, as noted by Jeremy Grantham at GMO, the Federal Reserve and most economists could not see the housing bubble as bubbles are by definition impossible).Read more ›
I was hoping that the book would give more space to issues beyond currencies that reflect the tension between state sovereignty and international commerce such as sovereign debt issuance, "hot money" flows, and the growth of sovereign wealth funds. And even though the book focuses almost exclusively on currencies, little mention is made of IMF Special Drawing Rights which the Chinese government has publicly supported as a potential alternative to the U.S. dollar. These minor complaints notwithstanding, "Money, Markets & Sovereignty" is one of the most informative and compelling books I have read in a while. The book is not too highly technical and I would highly recommend it to anyone interested in international economics.
Most Recent Customer Reviews
Do you want to know how the New World Order is going to be implemented in the future? Are you concerned that national sovereignty is being ceded to the Globalist leaders of... Read morePublished 16 months ago by Serge Heidegger
"I had no interest in economics in college, either. I belonged to that great tradition of academic bohemia which stretches from the fifteenth century riots of François Villon's to... Read morePublished on November 13, 2013 by Seth Oldmixon
I had hoped the book would be useful in making investment decisions, but found it to be too complex, theoretical and of no particular practical value.Published on June 29, 2013 by C. Wilsey
In today's world of fiat currencies being manipulated to support exponential indebtedness, this book has an interesting perspective. Read morePublished on May 11, 2013 by CuriousOne