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Review
While the two of us do not always agree, I think Rudi Dornbusch is about the most lively and stimulating economics professor writing for the intelligent general audience. Keys to Prosperity makes economics not dismal but engaging.―Robert L. Bartley, Editor and Vice President, The Wall Street JournalFor those who know and care about recent economic and financial history, the Dornbusch collection is a fascinating and important blend of insight and perspective laced with both wit and controversy.―E. Gerald Corrigan, Managing Director, Goldman, Sachs & Co.Rudi Dornbusch's Keys to Prosperity is vintage Rudi: interesting, insightful, incisive, and nearly always persuasive―and even when it isn't, he gives the reader a great run for the money.―Stanley Fischer, First Deputy Managing Director, International Monetary FundAlways knowledgeable, analytical, and thought-provoking, Dornbusch achieves his ambition of being a refreshing, vital economist.―Jeffrey R. Shafer, Vice Chairman, Salomon Smith Barney InternationalThe apple carts will find Dornbusch upsetting. The rest of us will be entertained and edified.―Jeffrey Frankel, Harpel Chair, Harvard University, and former Member, President Clinton's Council of Economic AdvisersWhen it comes to writing with substance, wit, and brevity on the hot policy issues in international economics, nobody does it better than Rudi Dornbusch. In this latest collection of essays―running the gamut from the determinants of long-run economic growth, to the Asian financial crisis, to the case for dollarization in Latin America―Dornbusch demonstrates his mastery yet again. Read, learn, and enjoy.―Morris Goldstein, Dennis Weatherstone Senior Fellow, Institute for International Economics, Washington, DCRead this book. It will inoculate you against the quackery that passes for serious economic thinking these days. It will also make you laugh.―Moisés NaÃm, Editor, Foreign Policy MagazineThis book is vintage Dornbusch: insightful, wise, and irreverent. Rarely is the discussion of economic policy both so perceptive and so much fun.―Andrei Shleifer, Professor of Economics, Harvard UniversityKeys to Prosperity is entertaining, outrageous, and very thought-provoking. Dornbusch makes a compelling case for betting a country's future on markets and solid monetary policy, rather than fine-tuning bureaucrats and politicians.―Anil Kashyap, Graduate School of Business, University of ChicagoRudi Dornbusch is without any doubt one of the most influential economists of his generation. He is deep, witty, and entertaining. In presenting his views he is incredibly courageous. More important, he is almost always right! The essays collected in this volume are must-reading for anyone interested in understanding the way in which countries move from backwardness to prosperity. The essays are insightful and clearly written. They will be interesting to specialists and the general public alike. Once I started reading this book, I couldn't put it down!―Sebastian Edwards, Henry Ford II Professor, University of California, Los AngelesRudi Dornbusch's Keys to Prosperity: Free Markets, Sound Money, and a Bit of Luck is a superb commentary about the most important issues in global economic policy. Characteristically, Rudi Dornbusch is a man with strong and clear views that come together with broad perspective. Always lucid, perceptive, engaging, and provocative. The book is a fascinating example for good economics in action. An excellent application of the market mechanism to the solution of tough economic problems. Highly recommended.―Jacob A. Frankel, Chairman, Sovereign Advisory Group & Global Financial Institutions Group, Merrill Lynch, and former Governor, Bank of Israel
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About the Author
The late Rudiger Dornbusch was Professor of Economics at the Massachusetts Institute of Technology.
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Product details
Series: The MIT Press
Paperback: 367 pages
Publisher: The MIT Press (March 7, 2002)
Language: English
ISBN-10: 026254136X
ISBN-13: 978-0262541367
Product Dimensions:
6 x 1 x 9 inches
Shipping Weight: 1.3 pounds (View shipping rates and policies)
Average Customer Review:
3.9 out of 5 stars
3 customer reviews
Amazon Best Sellers Rank:
#1,303,897 in Books (See Top 100 in Books)
Here in Brazil, I read this reasonable book. It was writen by Rüdiger "Rudi" Dornbusch (1942 - 2002), a German economist who worked the majority of his career in the United States.Some great things about this book:1- This book has the mainly correct ideas about monetary policy, macroeconomic development, growth and international trade.2- The author hasn't anything to support Socialism, Populism and other so many (terrible) Leftists' economic ideas.3- This book is mainly a collection of newspaper's articles and is very easy to understand. This book is for the general public.4- When the author talks about honest, educated and stable countries, such as USA, Japan, etc. he is mainly correct.5- This book is against big government.There's some problems with this book:1- The author just didn't knew nothing about Latin American culture and reality. The chapter 35 is about Argentina's economy in 1997. Just five years later, time showed that it was 100% wrong about the Argentine economic then future. This chapter hasn't only false prophecies about Argentina, but also terrible advices to Argentina. The author also made some terrible advices to Brazil and Mexico. As a comparision, Paul H. Lewis a Professor of Political Science at Tulane University, wrote books about Argentina's economy that are of first class; even better than any book writen by any Argentine, about this same subject.2- The author just didn't knew or at least didn't wrote about the source of Islamic economic crisis.3- In fact, about all of the Third World(Islam, Africa, etc.), the author is regular, weak or even terrible.Reading the wikipedia, I read that the author of this regular book, Rüdiger "Rudi" Dornbusch (1942 - 2002) was among the 100 best economists in the world and teached at MIT for many years. Even so, when I saw a Brazilian telling in TV, some months ago, that astrologers are mainly less wrong about economic future, than economists, I have to see that even astrology being just a fake, economy remains a product of human mind, not physical laws.
This entertaining and sharply written collection of essays surveys the essential elements needed to assure prosperity in the 21st-century global economy. Some of the essays are dated (the only major flaw here), and some of author Rudi Dornbusch's predictions have already been proven wrong, but enough of his predictions are dead-on accurate that his views command attention. His policy prescriptions are rooted in the real world and grounded in practical experience. The region-by-region, nation-by-nation analysis is particularly intriguing and accentuates the clarity and accessibility of Dornbusch's sophisticated - if sometimes controversial - economic arguments. We [...] recommend this book as excellent reading for policymakers, investors and anyone interested in international markets and globalization.
This is a book that was probably ahead of it's time. There has been an abundance of new economic prognasticating books published the last few years and this book, like those, has been right and wrong. This book has certainly been more right about many of the big, macro economic problems. He mention globalization, free trade, the euro and Japan's collapse. He was very pessimistic on Japan and it's has proven correct. I found his tepid comments about China interesting as they have clearly been the major economic force to emerge since the book was written 13 years ago. In summary, it's a pretty good book for those of us that are interested in globalization.
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