Am höchsten bewertete kritische Rezension
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somewhat overrated, but very enjoyable
am 26. April 2000
This book should have gotten five stars without a doubt. It's very readable; the author doesn't fall into the temptation of inventing new "-isms" as so many academics do. The content is extremely accurate and very well documented, with viewpoints from major historical players. Why not five stars? First, it did get a little repetitive and by the time I got to South America, the chapter seemed very predictable (let me guess, they cut spending and taxes and privatised, restricted monetary supply and killed off the evil hyperinflation dragon and everybody lived employed ever after). Second, instead of constantly giving concrete examples, the author could have examined the theoretical debates that pit free-marketeers and Keynesians against one another. The downside of free markets, both globally and domestically is not examined, despite the fact that the argumentative ammunition to bring down anti-market theories is abundant. Finally, I thought Daniel Yergin generalised a little too often when examining economic remedies. The dismal science is known as such because general assumptions in the real economic world are virtually impossible.