The Commanding Heights

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 FriedmanThe 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!

...Of course the "battle of ideas" is far from over. With a globalization that has been hijacked by mega-corporate interests and plenty of issues surrounding the social services like healthcare and such, the next 20 years in global politics will almost certainly continue to be interesting and ground-breaking. Socialism, seemingly 'dead' from the viewpoint of this book, is making a comeback in the first few years of the new century. Learning how to manage the global economy to prevent exploitation and protect human civil liberties will be the next big goal.If you want to know the history of American antitrust legislation, it's in this book. Curious about the social market economy? You'll find out very soon after opening the cover. Why is it that Margaret Thatcher managed to get all her reforms through despite initially negative feedback from the first wave of pro-market policies? Well, you'll just have to read to find out. Detailed accounts of various countries' economic history are found here unlike the video which can only include a few more prominent examples. There is very good coverage of the East Asian "tigers" and an in-depth account of American deregulation, as well as the European Union, topics not covered significantly in the video.

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.

I'm a few pages from the end and I've loved every page of this book. A wealth of historical and economic data is lightened with personal anecdotes about or from key players on the world stage in this century. The reader from Hong Kong, presumably more familiar with Chinese history than some of us, understandably may find the China section lacking but I found the insights into the struggles for power within the CCP enlightening. This book put together information I was mostly familiar with from other sources, but weaving it all together in a balanced way, adding anecdotes and colorful details, is tremendous added value. I'm familiar with at least the titles of many works of economics mentioned and was pleased to find little-known (in the U.S.) but key works mentioned such as Hernando de Soto's El Otro Sendero. Should be required reading.

Daniel Yergin provides the reader extraordinary insight into contemporary globalization. In a masterful, sweeping work that encompasses economic and social history of the post-war era, Yergin (who won the Pulitzer Prize for "The Prize," his study of the oil industry) and his co-author Joseph Stanislaw help us understand how economies around the world, but especially in the third world, are abandoning the old faith in big government and are embracing the marketplace. But Yergin and Stanislaw also warn that the marketplace -- laissez-faire -- is fraught with perils for countries that don't have sound governance and indigenous institutions and entrepreneurs who are able to function responsibly in an increasingly interdependent world. I found the book's analysis particularly lucid; the chronology at the end, which details the evolution of economic theory as well as cites political trends, should be especially useful to students. This is a book I'd recommend highly for laymen and scholars alike.