Tug of War: Why You Should Care About the Global Currency Crisis

Book Description

In recent years, the value of the U.S. dollar has fluctuated wildly. Japanese investors have lost billions in U.S. markets, causing an almost unprecedented run on the dollar. The leaders of the world currency markets were forced to band together to push up the value of the U.S. dollar. Tug of War: Why You Should Care About the Global Currency Crisis is the riveting story of this flow of money around the globe and what it means for us today. In 1991, the Mexican government tied the value of the peso to the dollar. As the peso slid and almost vanished, the fortunes of the dollar waned. Investors around the world, especially the Japanese, lost confidence in the dollar, creating a soaring yen and dragging down the value of the dollar even more. Subsequent events in the world currency markets pulled the dollar in even more directions: rogue traders lost billions on bad deals; the European Union began determining the value of its own currency; Japanese banks admitted enormous, previously concealed, losses. The tug of war continued. Paul Erdman, as well-known for his ability to predict financial markets as for his ability to write a suspenseful story, clearly explains the tangled basis and continuing strength of the currency crisis, gives his predictions about the future, and offers advice to market masters on the direction they should pursue. Significantly updated for this paperback edition, Tug of War, as compelling as any novel, is certain to be one of the most important financial books of this or any other year. Readers will not want to be left out when Erdman predicts the winner in this economic battle.

Customer Reviews:

The "Asian Contagion" Reviewed........2004-08-21

A simple yet far reaching book about the "Asian Contagion" and currency crisis of the late '90's. You should first read "The Vandals Crown", then this book, followed by "The Chastening". You'll then have a complete and chronological history of numerous currency crises involving the IMF, World Bank, and the major geopolitical figures. Fascinating foundation of fundamentals in action for anyone interested in trading the FOREX markets.

Book Description

Ambitious legal thinkers have become mesmerized by moral philosophy, believing that great figures in the philosophical tradition hold the keys to understanding and improving law and justice and even to resolving the most contentious issues of constitutional law. They are wrong, contends Richard Posner in this book. Posner characterizes the current preoccupation with moral and constitutional theory as the latest form of legal mystification--an evasion of the real need of American law, which is for a greater understanding of the social, economic, and political facts out of which great legal controversies arise. In pursuit of that understanding, Posner advocates a rebuilding of the law on the pragmatic basis of open-minded and systematic empirical inquiry and the rejection of cant and nostalgia--the true professionalism foreseen by Holmes a century ago.

A bracing book that pulls no punches and leaves no pieties unpunctured or sacred cows unkicked, The Problematics of Moral and Legal Theory offers a sweeping tour of the current scene in legal studies--and a hopeful prospect for its future.

Customer Reviews:

Holmes Reincarnate!.......2004-05-11

Supreme Court Justice and legal pragmatist Oliver Wendell Holmes wrote: "I always say the chief end of man is to form general propositions - adding that no general proposition is worth a damn." He also wrote: "Do not be bullied out of your common sense by the specialist; two to one, he is a pedant." Put these two quotes together and they describe Richard Posner's "Problematics of Moral and Legal Theory" perfectly!

Simply put, Federal Judge Richard Posner has a HUGE bone to pick with moral philosophy's belief that they can effect law (or much else for that matter) for the two reasons stated above: (a) morality, says Posner (rightly, i think) is relative - "no general proposition is worth a damn." (b) Moral philosophers are, by in large, pedants who take themselves much more seriously than anyone not a moral philosopher does.

Posner backs up and documents the futility of moral philosophy for law quite well. In fact, I came across this book while writing something to do with the abortion wars, which is used as an example of Posner's dilemma. The abortion contreversey has not been close to solved, despite moral philosophy's best efforts, because the matter is simply not one amenable to reason in the first place. One side sees a child; the other, a fetus. One side sees the mother's 'right; the other, the babie's 'right'. The fact is that for all of moral philosophy's talk that there is a 'right' answer in all of this (each side convinced that they posess it) the 'right' answer merely depends on which premises you accept (and will be unlikely talked out of as the conviction is emotional, not 'rational').

Posner goes on to outlay a theory of pragmatism that, as Holmes briefly touched on in "The Path of the Law" that first, acknowledges that "no general proposition is worth a damn," and that while theory has its place, so does practice and that the law needs to be much more cognizant of the latter than it has been.

If all this makes Posner seem like a post-modernist, that is because the difference (and there is a difference) is hard to decipher. Those post-modernists like Stanley Fish want to get rid of principle - "general propositons" - alltogether and see law as nothing but a game of political rhetoric. While Posner shares Fish's pessimism on general principles, he doesn't think they should be abandoned, but used pragmatically - not the caricature of using principles to justify ends wanted in advance, but to use them like we use rules of baseball; they are conventions and need to be seen as such (there is no 'natural law') but they exist and must exist to allow the game to be played. Posner explains much of this in the book (though it might take some read throughs to get it clear).

To close, I gave the book 4 stars becasue while Posner seemed to enjoy himself in trashing philosophy and law, one gets the feeling (as one so often does with Posner) that he has very little to put in its place. This may perfectly be his intent - that nothing can be put in its place. If so, he should point that out and explain why rather than just leaving us hanging. Oh well!

Simply put, this is the book (if "Sex and Reason" wasn't) that will ensure that should Posner get a Supreme Court nod, he will NEVER make it past the senate!

An intelligent and illuminating book, if too long.......2002-11-20

In The Problematics of Moral and Legal Theory, Judge Richard Posner asks a critical question: can moral philosophy ever help the practice of law? Posner answers this question with a resounding no.

Take a simple example. Suppose that a robber is shot dead at the scene of the crime and, the shooter is charged with murder. Should he be convicted? A pacifist might say yes, since killing is always wrong. Others would say no, since he acted in self defense (killing is not always wrong). Others would say that it depends on whether he was threatened.

If you were the judge or the jury, who should you believe? Posner argues that you will believe the person who most closely approximates your preconceived beliefs. In other words, a pacifist prosecutor will have a hard time convincing anyone who believes in self-defense, since each and every moral philosophy can be countered by another moral philosophy.

Posner goes on to argue that moral philosophy can help us with things that we all agree on, like "democracy is good" and "freedom should be protected." The problem is that no case before a court ever deals with such broad disputes. Instead, each side lines up its moral arguments, and the judge basically ignores them all. Posner also shows that moral philosophy is of some use in changing what people agree is right, as with Martin Luther King, Jr.

In the down and dirty disputes before a judge, though, Posner says that we have to rely more on our gut reaction, economics, and sociology than moral theory. The judge must ask, "If I did X, would society be better off?" Posner calls this legal pragmatism, the hope that the law can be rationalized along empirical grounds. He is careful to distinguish this stance from philosophical pragmatism and moral relativism. The former worries only about ends, while Posner explicitly worries about means, and the latter would not allow anyone to ever say that "murder is wrong." Posner has no problem with moral precepts that everyone agrees with.

The downside of this book is that it is way too long. The first few chapters outline most of his argument, and the rest of the book deals with legal history and particular examples from supreme court cases. Law students might find these parts worthwhile. Those who are interested in philosophy and law should read this book, as should those who want a look at how judges think and work. Whether you agree with him or not, his exploration of the topic is cool and complete.

Enjoyable but Unconvincing.......2001-12-31

Posner is always enjoyable to read and this book is no exception. Readers who are not current on discussions about moral philosophy and law will find Posner a lucid and accessible point of entry. However, my first reaction is Posner assumes
pragmatis is morally neutral and an adequate framework for the law.
First, values already underscores "pragmatism;" thus, any attempt to apply pragmatics to the law has already been contaminated by values that can probably only be properly analyzed and understood through moral philosophy. Hence, moral philosophy is an indispensible tool for critical analysis of the law.
Second, "pragmatism" is inadequate in forming an analytical framework for the law, particularly with the most difficult questions of the law. Questions about euthanasia, abortion, equal rights, etc. are densely moral and political which pragmatism will contribute little.
Overall an enjoyable book but a flawed idea. It will influence many readers but "The Problematics of Moral and Legal Philosphy" should be read with skepticism. Everyone reading this book should also read "Modern and the Holocaust" by Zymunt Bauman for a counter point to why moral philsophy, which probably raises more questions than it answers, should always be central to any discussion about the law.

A Call for Judicial Neutrality.......2001-09-08

Don't believe any criticisms of this book that it advocates moral relativism or insensitive pragmatism. What Posner is driving at is the removal of moral theory from the practice of law. Translated: the removal of the politicization of law whether of the left variety [egalitarianism, redistributionism] or the right variety [natural law]. This sounds like anti-moralism, but it is not. Posner wants law to return to its role as the blind judge balancing the scales of justice rather than the judicial usurper of democracy. Posner wants a rational approach to law as opposed to the current masking of its role as a dispenser of goods for the "interest group state." Highly recommended. Wayne Lusvardi, Pasadena, California

Posner at his best.......2000-12-02

In almost 20 years as America's most influential non-Supreme Court judge since Learned Hand, Richard Posner has made great use of his astounding intellectual repertoire to bring insights from other disciplines (most notably, economics) to bear on the law. In this work, Posner takes aim at the "academic moralists" whose theoretical works have, in his opinion, not only contributed little of use to the legal profession, but also stunted its growth. The root of Posner's disdain for such moral theorizing is his belief that universal standards of right and wrong do not exist and thus that all morality is local. It is therefore pointless to talk of whether this or that moral theory is the "right" one- the very aim of the scholars whose work Posner so gleefully dismisses. Unfortunately, the disproportionate attention paid to academic moralism has weakened the legal profession by decreasing the amount of time devoted to more "pragmatic" (Posner's favorite word) issues that actually can be of use in resolving legal issues. In Posner's view, today and tomorrow's scholars must be trained to think pragmaticallly if law is to make any significant advances. While this book is stinging in its rebukes, it must be said that there is a lot in it that may not be appealing even to those who are generally sympathetic to Posner's concerns. Most obvious is his moral relativism (what he deems "pragmatic moral skepticism"), especially since Posner is most often identified as a conservative (though he is really on the libertarian side). In addition, the good judge is never really able to quell criticisms that his pragmatic view of judging is so squishy as to be able to justify almost any result. These drawbacks, however, should not detract from the more general thrust of the book, which is that ambitious philosophy adds nothing to the law.

The Problematics of Moral and Legal Theory. (Book reviews: summaries and comments).(Brief Article) (book review): An article from: The Review of Metaphysics

Average customer rating:

The Problematics of Moral and Legal Theory. (Book reviews: summaries and comments).(Brief Article) (book review): An article from: The Review of Metaphysics
Gerard Casey
Manufacturer: Philosophy Education Society, Inc.
ProductGroup: Book
Binding: Digital

General | Philosophy | Nonfiction | Subjects | Books

Book Description

This digital document is an article from The Review of Metaphysics, published by Philosophy Education Society, Inc. on March 1, 2001. The length of the article is 735 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: The Problematics of Moral and Legal Theory. (Book reviews: summaries and comments).(Brief Article) (book review)
Author: Gerard Casey
Publication: The Review of Metaphysics (Refereed)
Date: March 1, 2001
Publisher: Philosophy Education Society, Inc.
Volume: 54 Issue: 3 Page: 676(3)

Article Type: Brief Article, Book Review

Distributed by Thomson Gale

The Problematics of Moral and Legal Theory.(Review) (book review) (book review) : An article from: Constitutional Commentary

Average customer rating:

The Problematics of Moral and Legal Theory.(Review) (book review) (book review) : An article from: Constitutional Commentary
Daniel A. Farber
Manufacturer: Constitutional Commentary, Inc.
ProductGroup: Book
Binding: Digital

Book Description

This digital document is an article from Constitutional Commentary, published by Constitutional Commentary, Inc. on December 22, 1999. The length of the article is 6894 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: The Problematics of Moral and Legal Theory.(Review) (book review) (book review)
Author: Daniel A. Farber
Publication: Constitutional Commentary (Refereed)
Date: December 22, 1999
Publisher: Constitutional Commentary, Inc.
Volume: 16 Issue: 3 Page: 675-690

Article Type: Book Review

Distributed by Thomson Gale

THE PROBLEMATICS OF MORAL AND LEGAL THEORY.(Review): An article from: First Things: A Monthly Journal of Religion and Public Life

Average customer rating:

THE PROBLEMATICS OF MORAL AND LEGAL THEORY.(Review): An article from: First Things: A Monthly Journal of Religion and Public Life
David M. Smolin
Manufacturer: Institute on Religion and Public Life
ProductGroup: Book
Binding: Digital

General | Philosophy | Nonfiction | Subjects | Books

Book Description

This digital document is an article from First Things: A Monthly Journal of Religion and Public Life, published by Institute on Religion and Public Life on August 1, 1999. The length of the article is 1400 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: THE PROBLEMATICS OF MORAL AND LEGAL THEORY.(Review)
Author: David M. Smolin
Publication: First Things: A Monthly Journal of Religion and Public Life (Refereed)
Date: August 1, 1999
Publisher: Institute on Religion and Public Life
Page: 56

Article Type: Book Review

Distributed by Thomson Gale

THE PROBLEMATICS OF MORAL AND LEGAL THEORY.(Review): An article from: Theological Studies

Average customer rating:

THE PROBLEMATICS OF MORAL AND LEGAL THEORY.(Review): An article from: Theological Studies
Robert John Araujo
Manufacturer: Theological Studies, Inc.
ProductGroup: Book
Binding: Digital

General | Philosophy | Nonfiction | Subjects | Books

Book Description

This digital document is an article from Theological Studies, published by Theological Studies, Inc. on March 1, 2000. The length of the article is 762 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: THE PROBLEMATICS OF MORAL AND LEGAL THEORY.(Review)
Author: Robert John Araujo
Publication: Theological Studies (Refereed)
Date: March 1, 2000
Publisher: Theological Studies, Inc.
Volume: 61 Issue: 1 Page: 181

Article Type: Book Review

Distributed by Thomson Gale

Book Description

The culmination of work begun in 1985 by the authors under the joint sponsorship of the Ekonomski Institut Zagreb and Florida State University, this book posits the most comprehensive and relevant model yet developed to explain the workings of Yugoslavia's economy. The authors have developed a model that is both theoretically oriented and empirically relevant--ensuring its appropriateness for recommending and evaluating alternative policy remedies for the acute problems of inflation, unemployment, and foreign trade now facing Yugoslavia, a country until recently noted for its economic successes. Already chosen to represent Yugoslavia in the ongoing international Project LINK, a global system for tracking and forecasting the economic conditions of some eighty countries and regions, the model is distinguished by its policy emphasis and by its ability to capture the fundamental divisions of the Yugoslav economy. Students and scholars of socialism, Marxism, and comparative economics will find this a major contribution to the literature of economic modeling. The book begins by providing essential background information about Yugoslavia including highlights of the country's economic experience, special features of its economic structure, the composition of its political system, the operation of its financial system, and the behavior of firms. Part two includes four chapters which examine the different components of the Yugoslav economy and review the theoretical basis and empirical performance of the equations which describe those components. A separate chapter presents the complete model, called the EIZFSU Mark 1.0 in recognition of its major sponsoring institutions. In the final part, the model is used to study policies for improving the performance of the economy and obstacles to their implementation. An appendix describes and quantifies the variables used in the model while a list of references provides additional information for the researcher who wishes to pursue further study in this area.

Book Description

Despite the recent economic crisis, Japan still accounts for two-thirds of the entire Asian economy. However, in 1998, unemployment reached an historic high, the stock market plummeted, financial institutions were failing, and bankruptcies were a daily occurrence. William Farrell analyzes the discord in the political, bureaucratic, and business arenas and offers a candid look at opportunities and strategies now open to U.S. business. This timely book allows the reader to comprehend and act upon these public and private sector changes taking place in one of the world's largest economies. Former Vice President of the United States and Ambassador to Japan, Walter F. Mondale, provides a foreword. The book also includes a comprehensive chronology of key events from 1994 through to the present. The connections between Japanese business and government are shown in graphic form. The recent history of the Japanese economy is revealed with a fascinating look at the inner working of the nation's most influential organizations. Additionally, U.S. and Japanese leadership and decision-making styles are compared, and the myth of a never-changing Japan is challenged. After reviewing and analyzing these key issues, the concluding chapter discusses how one becomes a participant in the process and identifies emerging opportunities. As a practical resource of useful and current information, this book cuts through false predictions of doom and demystifies the complexity of the Japanese bureaucracy.

Crisis and Opportunity in a Changing Japan

Average customer rating:

Crisis and Opportunity in a Changing Japan
William R. Farrell
Manufacturer: Greenwood Pub Group 01/1//1999
ProductGroup: Book
Binding: Paperback
ASIN: B000N5MW9E

How to advertise on the Internet: An introduction to Internet-facilitated marketing and advertising
Average customer rating:
How to advertise on the Internet: An introduction to Internet-facilitated marketing and advertising
Michael Strangelove
Manufacturer: Strangelove Internet Enterprises
ProductGroup: Book
Binding: Unknown Binding

General | Business & Investing | Subjects | Books
Web Marketing | Business & Culture | Computers & Internet | Subjects | Books
ASIN: B0006F65ZI

The Dissatisfied Customer: How to Achieve the Compensation You Deserve
Average customer rating:

A Critical Review

The Dissatisfied Customer: How to Achieve the Compensation You Deserve
Gerald Mark Breen , and Jonathan Matusitz
Manufacturer: AuthorHouse
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books
Customer Service | Industries & Professions | Business & Investing | Subjects | Books
ASIN: 141848802X

Book Description

The Dissatisfied Customer: How to Achieve the Compensation You Deserve is designed to offer strategies and guidance to dissatisfied customers who wish to seek compensation for their poor customer experiences. Included in this book are various tactics and approaches that are aimed at tackling any given complaint a consumer may have about a company or service. By utilizing these strategic approaches, the dissatisfied consumer can contact a company and successfully receive compensation for the poor service experience. The content and wisdom displayed in this book are drawn from the extensive expertise of the authors, as they have spent ample years working in the realm of customer service. This book will provide the reader with an effective, yet simple manual for seeking compensation for inferior customer experiences.

Customer Reviews:

A Critical Review.......2004-09-23

American consumers in general suffer all sorts of inconveniences and disservices from companies that failed to deliver satisfactory products and services. In the book entitled "The Dissatisfied Customer: How to Achieve the Compensation You Deserve," business communicators Gerald Mark Breen and Jonathan Matusitz go to great lengths to discuss the types of negatives experiences that consumers witness from companies, and how these dissatisfied customers can effectively complain to company employees in order to achieve compensation for their service ordeals. Particularly, sectors or types of businesses where consumer issues arise are addressed. Actual case scenarios, experienced by Breen and Matusitz themselves, are also included to delineate how complaining works and how it, if strategically executed, can yield sizable compensation for the dissatisfied consumer. Since Breen and Matusitz are not legal attorneys, what they offer are strictly tips and strategies based on their own personal experiences in the customer service world. Overall, this book is a powerful tool that can assist and direct dissatisfied consumers with contacting, demanding, and successfully receiving compensation from companies that dealt poor products or services.

The core of the book commences with a list of key factors that contribute to customer dissatisfaction. Some of these factors mentioned in the beginning chapters include faulty products, delays in delivery, ineffective and rude communication by employees, and poor service in general. From this point, the two authors identify where these types of incidents happen; they can occur in airline companies, cellular phone providers, Internet service providers, restaurants, hotels, and various rental companies (i.e., car rental companies). These factors and sectors are discussed in detail and later serve as a prelude to ten case scenarios, experienced by Breen and Matusitz themselves, that meticulously describe the communication that should take place, from beginning to end, between the customer and the company employee receiving the complaint. Breen and Matusitz also identify and emphasize the various methods by which complaints to companies can be lodged. As such, one can contact the manager directly or write a carefully crafted letter to the executives or supervisors of the company. The authors extensively itemize how proper communication should be executed, including preparation, word usage, psychological tactics, and focusing on the key points of the disservice that occurred.

In short, this book contains insightful commentaries and strategies aimed at explaining how effective communication via complaints can yield maximum compensation to those consumers who suffered a poor service experience with any given company.

Financial Markets and European Monetary Cooperation: The Lessons of the 1992-93 Exchange Rate Mechanism Crisis.(Review): An article from: Southern Economic Journal
Average customer rating:
Financial Markets and European Monetary Cooperation: The Lessons of the 1992-93 Exchange Rate Mechanism Crisis.(Review): An article from: Southern Economic Journal
Anup Wadhawan
Manufacturer: Southern Economic Association
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books
General | Business & Investing | Subjects | e-Docs | Formats | Books
ASIN: B00098LK8O
Release Date: 2005-07-28

Book Description

This digital document is an article from Southern Economic Journal, published by Southern Economic Association on January 1, 1999. The length of the article is 1468 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Financial Markets and European Monetary Cooperation: The Lessons of the 1992-93 Exchange Rate Mechanism Crisis.(Review)
Author: Anup Wadhawan
Publication: Southern Economic Journal (Refereed)
Date: January 1, 1999
Publisher: Southern Economic Association
Volume: 65 Issue: 3 Page: 650(4)

Article Type: Book Review

Distributed by Thomson Gale

Sweden Business & Investment Opportunities Yearbook (World Investment & Business Opportunities Library)
Average customer rating:
Sweden Business & Investment Opportunities Yearbook (World Investment & Business Opportunities Library)
USA International Business Publications
Manufacturer: International Business Publications, USA
ProductGroup: Book
Binding: Paperback
ASIN: 0739713612

Book Description

This yearbook contains information on investment business opportunities, international economic projects, tenders, government projects, marketing and export-import opportunities information.

Sweden Business And Investment Opportunities Yearbook

Average customer rating:

Sweden Business And Investment Opportunities Yearbook

Manufacturer: International Business Publications, USA
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

General | International | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

Introduction | Investing | Business & Investing | Subjects | Books

Management | Management & Leadership | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

General | Reference | Business & Investing | Subjects | Books

Books:

Books Index

Books Home

Recommended Books