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Customer Reviews (2)

A bit too much nonsense
Unfortunately the author has gotten some of the science wrong, stating for example that carbon is radioactive and mislabeling important graphs.Since this is the 3rd edition one would have hoped the editors would have glanced at the book since it was written in 2001.The author (an immigrant from India) has a very strong anti developed-world bias.He argues vehemently against carbon trading and offsets, not acknowledging that these mechanisms reduce CO2 buildup.He wants instead, I think, punishment to be meted out to the developed countries for their success and rewards to be given to developing countries for their lack of success.He does not appear to want emission controls on developing countries, but prefers that the developed world gift the developing world with free solar power plants. For a no-nonsense guide, there is too much of this nonsense.
I do like the chart on top of page 138 on tips to personally cut emissions (like becoming a vegetarian).

Not "Bad Science" Anymore!
Even conservatives now admit that global warming is a reality and that it's primarily the result of fossil fuel use (see the EPA document on global warming published earlier this year).But the extent of the problem is only beginning to sink in.The twentieth century was the hottest century, the 1990s the hottest decade of the millennium, and 1998 the hottest year of the 1990s (we know this from analyzing atmospheric gases trapped in Arctic ice).And we're only feeling the effects of CO2 emissions from 35 years ago!The nasty effects of all the emissions since then haven't even kicked in yet.Moreover, global warming will also lead to "feedback"--the official term for extreme weather.Tornadoes out of season, violent thunderstorms and hail, droughts, floodings, blizzards:all of these are already occuring as wind currents and meterological conditions feel the effects of overall global warming.

Dinyar Godrej's *Climate Change,* a volume in the excellent "No-Nonsense" series, outlines the basic (and frightening!) facts about global warming, backing his claims up with a wealth of data and references.This makes his book a convenient (and affordable) resource for anyone who wants to get a handle on what's happening to the planet.But Godrej also offers some social, political, and personal suggestions for slowing down and hopefully reducing the human activity that creates global warming.Highly recommended.Read it, get scared, get angry, get working!And while you're at it, get rid of your SUV. ... Read more

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History is full of attempts at global domination. From Alexander the Great to Adolf Hitler, there have been those who aspire to control the entire planet.

This book looks at past attempts for global domination and new tools of science and sociology that would make any new attempts feasible. This book also considers a biblical perspective on current events.

... Read more

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Three prominent and highly visible writers confront the threats posed by current challenges to the American Constitution. In the aftermath of the Constitutional Convention of 1787, three of its most gifted participants--Alexander Hamilton, James Madison, and John Jay--wrote a series of eighty-five essays, published in newspapers throughout the nation, defending the proposed new government against its opponents. Those essays, known today as the Federalist Papers, explain the philosophical basis of the Constitution and defend the idea of republican government against charges that it would lead to tyranny. Today's political controversies call into question some of the principles that have shaped government through most of this century. New Federalist Papers, written by three constitutional experts, defends the representative democracy put in place by the framers of the Constitution. Like Hamilton, Madison, and Jay, the authors of New Federalist Papers see danger in the effort to diminish and relocate federal power. They recognize that it is the task of public discourse to bring about reasoned consideration of such issues as gun control, term limits, flag burning, the balanced budget amendment, and campaign finance reform.Amazon.com Review
To hear many modern politicians tell it, the federalgovernment is the worst thing that ever happened to the Americanpeople. Federal laws and mandates are portrayed as tyrannical, newamendments to the Constitution are proposed with frighteningregularity, and "states' rights" has become the latest rallying cry for"patriots" everywhere. In response to this discontent, the20th Century Fund commissioned New Federalist Papers, acollection of essays in defense of the Constitution. The threeauthors, Alan Brinkley, Kathleen M. Sullivan, and Nelson W.Polsby,are all academics--Brinkley teaches history at Columbia, Sullivan is alaw professor at Stanford, and Polsby teaches political science atBerkeley--and each approaches the Consititution from his or herparticular field of study. Brinkley examines the history of thefederal government, which was formed precisely to guard againstthe tyranny smaller entities such as the states could impose, thenpoints out how far the American people have strayed from theassumptions underlying the Constitution: a well-informed, civic-mindedpublic that takes seriously its responsibility to vote. Polsby pointsout how well they've managed to govern such a large and disparateterritory, while Sullivan explores current attempts to impose newpolicies through Constitutional amendment, using the miserable failureof the Prohibition amendment as a cautionary tale.

In an era whenthe majority of Americans receive their news in sound bites and thesolution to every problem is a facile cry to dismantle the government,New Federalist Papers is a refreshing return to the principleson which the country was founded, most of which have beenmisinterpreted, misconstrued, or just plain misunderstood somewherealong the way; after all, citizens should understand what they've gotbefore they decide to throw it away. ... Read more

Customer Reviews (6)

If You Believe our Founding Fathers are Rolling in their Graves...
....then I think you'll like this book.Specifically, there are numerous changes going on in America today-nothing new of course-but the difference today is how many people think current issues can be easily "solved" by new Admendments to our Constitution.Brinkley and the other authors take you through several hot buttons faced in our country in over the years, and what dangerous results can and have occured when we let our Constitution be altered.A good read for any American, this book actually enlightened me futher in the basis of my own idealogical views.I think this book would do the same for you, regardless of what your views are.

Drivel
This is revisionist history at it's worst/finest.Drivel that wastes the paper it's written on.Sad fact is that some will read it without knowing a single darned fact about the real history of the creation of our republic or having read the "Real" Federalist Papers and believe this propaganda. Sad, Sad, Sad.

It's the Federalist Papers!
OF COURSE the essayist sides with the federal government!That 's why it's called the New Federalist Papers!

"Don't worry (cough), I'm (cough) fine" -United States
While in todays political climate of extremes -wherein books celebrating America can actually cause contreversy- it is refreshing to read a collection of essays defending the constitution. Yes, I was excited when I read this collection, but the further I went, the more something just didn't feel right.

I came away convinced that the authors should have subtitled their collection "apologia for the constitution" as every essay (save for one on campaign finance), no matter if it was on the two party system, amending the constitution or state vs. federal pwer, always reached the same conclusion - "It's perfect the way it is. Don't change a thing, really!" Not only that, but it felt to me like the reasoning used was simply an instrument for arrival at this desired conclusion. In other words, the essays crossed the line from polemic to propoganda. A few examples:

In an essay written to convince us that a two-party system is the most democratic of all, the author gives one sole reason. Only in a two party system can a candidate be elected by over 50% - hence, a majority. The more parties, the more you divide the vote. Why does this seem like a strange argument? Because most people don't vote anyhow and there's much reason to believe that it is BECAUSE of the lack of choice casued by that system. (When we do the math, G.W. Bush garnered maybe 30% of all possible votes as many people didn't cast any vote) It seems plausable to me that by representing more viewponts by increasing third party viablility, we would increase voter turnout and we'd wind up with higher overall percentages in any given camp. Sound far-fetched? Too many political scientists have entertained this notion for the essayist to blindly ignore it.

Second example: In an article on state v. federal power, the essayist unqestionably (and I mean this literally, not figuratively) sides with federal power. She blithely tells us that the founders wanted the federal government to be larger than state governments but doesn't explain why, if that was the case, the ninth or tenth amendments needed to be written or why we settled on the name "the UNITED STATES" instead of just America. She didn't even ask why, if the federalists were really as federalistic as she draws them, acts on a national scale like voting was constitutionally assigned to be conducted by the seperate states.

I can't say unilaterally that these essays are wrong simply becasue I disagree with the conclusions (despite the fact that, for the most part, I do). I simply wish that the authors had went about proving their cases by arguing for the conclusions. Instead, each essay simply picks a conclusion and skates smoothly towards it. Not much substance.

Pales in comparison to original
This book does not approach the brilliance and eloquence of the original work by Hamilton, Madison, and Ray.While this book's essays are somewhat interesting in their own right, the authors overstep the bounds of literarylicense by using the title of "New Federalist Papers."

Somehowthe authors have transformed the original debate between federalists andanti-federalists into a liberal-conservative one.This large leap of logicsoils the otherwise informative essays.Alan Brinkley displays himself asthe leader of a lynch mob against conservatives.Because of this book'sobvious political bias, it does not deserve a setting at the academictable.It only belongs on the coffee table, or more accurately, beneathone. ... Read more

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Surveys reveal that a majority of Americans believe government is run for special interests, not public interest. The increased presence and power of lobbyists in Washington and the excesses of PAC and campaign contributions, in-kind benefits, and other favors would seem to indicate a government of weak public servants corrupted by big private-interest groups.

But as Fred McChesney shows, this perspective affords only a partial understanding of why private interests are paying, and what they are paying for. Consider, for example, Citicorp, the nation's largest banking company, whose registered lobbyists spend most of their time blocking legislation that could hurt any one of the company's credit-card, loan, or financial-service operations. What this scenario suggests, the author argues, is that payments to politicians are often made not for political favors, but to avoid political disfavor, that is, as part of a system of political extortion or "rent extraction."

The basic notion of rent extraction is simple: because the state can legally take wealth from its citizens, politicians can extort from private parties payments not to expropriate private wealth. In that sense, rent (that is, wealth) extraction is "money for nothing"--money paid in exchange for politicians' inaction. After constructing this model of wealth extraction, McChesney tests it with many examples, including several involving routine proposals of tax legislation, followed by withdrawal for a price. He also shows how the model applies more generally to regulation. Finally, he examines how binding contracts are written between private interests and politicians not to extract wealth.

This book, standing squarely at the intersection of law, political science, and economics, vividly illustrates the patterns of legal extortion underlying the current fabric of interest-group politics.

Customer Reviews (3)

Excellent Addition To Tullock's Work On Rent Seeking
Fred McChesney's book "Money For Nothing" builds upon public choice economist Gordon Tullock's work on how lobbyists obtain economic benefits from politicians. While Tullock's theory - known as "rent-seeking" - is gaining mainstream appeal, many economists now offer similar explanations for other aspects of legislative behavior that aids some interest groups while harming others. McChesney's theory of "rent-extraction" breaks new ground not yet covered by these economists.

McChesney defines rent extraction as "the political practice of extorting payments from private parties by making threats to expropriate wealth."In other words, he claims that politicians can take money from citizens by threatening to harm them and accepting bribes in the form of campaign contributions to leave them alone.He points out that if individuals have accumulated wealth and wish to keep it away from the government, they will be willing to pay politicians to leave them alone until the costs of doing so exceed the benefits of doing so.

Therefore, while Tullock's theory involves politicians accepting payments to create political favors in the form of rents, McChesney's involves politicians accepting payments to avoid destroying existing private rents.He explains the differences between the two by stating: "With the former (rent-creation/bribery), the beneficiaries of political action compensate the politician for increasing their welfare.With the latter (rent extraction/extortion), persons whose welfare would otherwise be diminished by political action compensate the politician for not effectuating that diminution."

He does point out that constitutional protection of private property and freedom of contract can prevent politicians from acting upon their threats.However, he claims the erosion of these protections has made the problem much more severe during the late nineteenth and twentieth centuries.

To support his view that rent extraction imposes enormous costs on the economy, McChesney provides a wealth of evidence from recent policy debates.For example, he cites the United States Federal Trade Commission's efforts - at the request of Congress - to impose warranty and defect disclosure requirements on used car dealers as an attempt by individual members of Congress to obtain campaign contributions in exchange for voiding the rules.In this instance, he provides statistics on contributions made by the National Auto Dealers' Association to members of Congress who voted to repeal the regulations.In discussing the Supreme Court's response to the wheeling and dealing, he points out that the dealers were essentially tricked into paying to repeal legislation that Congress never intended to enact anyway.

On the Clinton health care plan, he states that stock prices of pharmaceutical firms began to fall before the policy was formally proposed.He emphasizes that investors knew that once price controls became an issue, the firms involved would have to spend money fighting the legislation by making campaign contributions.Thus, the firms were expected to lose enormous sums of money whether or not the bill was actually passed.Most importantly, he points out that the firms were never able to recover any of the money they lost in the process.

In addition to legislative threats to impose price caps, he cites situations in which politicians threaten to repeal existing price caps to obtain contributions.For example, he states that proposals to raise admission fees at Yellowstone National Park have met with resistance from local merchants and users who benefit from lower prices.In other words, politicians can even threaten regulatory systems that they inherited from previous regimes in order to extract contributions from the firms that benefit from those systems.

McChesney relates his theory to law and economics by applying the Coase Theorem to his logic.He claims that, in a world without transaction costs, there would be no regulation because markets would allocate goods to their highest bidders.Therefore, in his model, the existence of regulation is treated as a political market failure in which private individuals fail to accurately appraise the credibility of threats made by politicians.

McChesney offers a simple, straightforward way to make sense of much of the regulatory excess observed throughout the economy.Although his treatment of tax code reform may require some clarification, his model will eventually enjoy the same mainstream appeal that has been afforded to Tullock's over time.

Keen and Original Analysis
Fred McChesney here develops his original idea of rent extraction -- and it's an idea that renders understandable much of what the government does.(Want to know why the NRA and politicians perform a perpetual, public dancewith each other?Read this book. McChesney's explanation will surpriseyou.)This book is a marvelous example of the best in public-choicescholarship: clearly written and cogent.

A must read for those interested in the way politicians work
What motivates politicians?How do they act?If you are interested in those questions your should read this.The author starts from earlier work in the area by Stigler and Posner - but then extends their models in a number of areas. McChesney has a remarkable ability to take a complex area of economics (public choice) and write in an interesting and understandable fashion.This book is probably going to be read mostly by academics but deserves a wider audience. ... Read more

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Today the organization of science is undergoing a fundamental transformation. In The New Invisible College, Caroline Wagner combines quantitative data and extensive interviews to map the emergence of global science networks and trace the dynamics driving their growth. She argues that the shift from big science to global networks creates unprecedented opportunities for developing countries to tap science s potential. Rather than squander resources in vain efforts to mimic the scientific establishments of the twentieth century, developing country governments can leverage networks by creating incentives for top-notch scientists to focus on research that addresses their concerns and by finding ways to tie knowledge to local problem solving. The New Invisible College offers both a guidebook and a playbook for policymakers confronting these tasks. ... Read more

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This report assesses Cuba's current crisis and a range of possible outcomes. It identifies the implications of the deteriorating Cuban situation for Cuba as well as for the United States, reviews U.S. policy options, and recommends some policy modifications to better prepare the United States for dealing with alternative possible outcomes in the short- (1 year) to medium-term (1-3 years) future. The information in this report was revised and updated as of April 1994, with a postscript that covers developments to the beginning of June 1994. ... Read more

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This book inquires into the relations between society and its natural environment by examining the historical discourse around several cases of state building in the American West-the construction of three high dams from 1928 to 1963. ... Read more

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Climate change threatens not only the environment but global peace and security as well. Climatic Cataclysm brings together experts on climate science, foreign policy, political science, oceanography, history, and national security to take measure of these risks.

The contributors examine three scenarios as a basis for future planning. The first scenario projects the likely effects of the expected level of climate change over the next thirty years, based on current scientific models. The severe scenario, based on a much stronger response to current levels of carbon loading, foresees profound and potentially destabilizing global effects over the next generation or more. Finally, the catastrophic scenario is characterized by a devastating "tipping point" in the climate system, perhaps fifty or one hundred years hence. In this future world, the land-based polar ice sheets have disappeared, global sea levels have risen dramatically, and the existing natural order has been destroyed beyond repair.

Climatic Cataclysm analyzes the security implications of these scenarios, ranging from disease proliferation, large-scale migration, and increased low-intensity conflict to the risk of nuclear war. It also considers the lessons that can be learned from previous civilizations confronted with natural disaster and asks what the three largest emitters of greenhouse gases—the United States, the European Union, and China—can do to reduce and manage future risks.

Climate change may prove to be the single greatest challenge confronting the United States and indeed, human civilization. Climatic Cataclysm helps explain why.

Contributors: Sharon Burke (Center for a New American Security), Leon Fuerth (George Washington University), Jay Gulledge (Pew Center on Global Climate Change), Alexander T. J. Lennon (Center for Strategic and International Studies), J.R. McNeill (Georgetown University), Peter Ogden (Center for American Progress), John Podesta (Center for American Progress), Julianne Smith (Center for Strategic and International Studies), Richard Weitz (Hudson Institute), and R. James Woolsey (Vantage Point Venture Partners).

Customer Reviews (3)

Well-crafted, timely, authoritative
Although published by the Brookings Institution, this book is derived from a November 2007 study conducted through a partnership between the Center for Strategic & International Studies and the Center for a New American Security. Titled "The Age of Consequences: The Foreign Policy and National Security Implications of Global Climate Change," that study was authored by a team of experts in climate science, defense, intelligence, and foreign policy who expanded their report into this excellent book. Even if you've read the original report, get this book because it substantially adds to the information and analysis.
There have been many reports in recent years on the national security implications of climate change. This is among the best. Some recognizable names among the 12 authors are James Woolsey, former director of the CIA; Leon Fuerth, former national security advisor to Vice President Al Gore; and John Podesta, former chief of staff for President Bill Clinton. The other authors are also heavy hitters in their fields.
The authors created three increasingly grave scenarios: "expected" and "serious" over the next 30 years, and "catastrophic" over the next 100 years. These are quite frightening, particularly the latter two, and should not be read to small children. But this grave tone is appropriate for a report designed to warn of the urgency of the situation and present some serious thinking about its implications. The major implications are laid out in the final chapter for policy-makers, business leaders, and the rest of us to consider. A must-read for anyone who cares about what could happen in the rest of this century.

Could Global Climate do more than create environmental chaos?
Could Global Climate do more than create environmental chaos? "Climatic Cataclysm: The Foreign Policy and National Security Implications of Climate Change" looks at the other implications that a shifting climate could visit upon a world. Pondering scenarios ranging from likely to full on possible doomsday-level scenarios, they are all explained on what they mean for the world, how they can be averted, and how they can be dealt with if it's too late to avert it. "Climatic Cataclysm" is an enlightening look at how nature can wreak havoc on politics.

The Ensuing Chaos From Climatic Tipping Points
Given Brookings support for Bush's Middle East 'campaign' I typically would not turn to this centrist think-tank for policy direction on climate change, but I can bend with the warming winds on this issue, especially since these analysts got it right. I agree with the political implications discussed in this book: the political fighting in the U.S. has to cease so that alternative energy options are implemented ASAP. That is, as soon as (our next) President Obama takes office. Why ASAP?

Three future climate scenarios are laid out, each with successive implications for the very functioning of American society. The third scenario, or catastrophic tipping point, is predicated on man-made atmospheric carbon essentially creating a new and vastly foreign climate regime. This is consistent with the latest scientitific research on anthropogenic global warming.

Brookings analysts argue that this third scenario holds the greatest danger in around 50-100 years for both the natural world and human civilization as humanity faces forced migration, diseases, and the increased possibilities of nuclear war as a variety of national security threats dramatically heighten.

Skip the summer sci-fi reading and take this one on...since it reads like a dystopia anyway. ... Read more

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The tsunami disaster in the Indian Ocean region in December 2004 resulted in some 300,000 deaths across the region, many more injured and 1.6 million people displaced, with Indonesia and Sri Lanka the worst affected countries. The disaster has also had longer-term economic effects in terms of the damage to roads and other infrastructure, as well as to people's livelihoods dependent on tourism, farming and fishing. This NAO report assesses the Government's response to the disaster, focusing on the extent to which the Department for International Development (DFID) met its commitment to provide humanitarian assistance to the victims of the tsunami in the six months immediately following the event. It finds that the DFID's initial response was both rapid and impressive, with the first cargo of relief supplies airlifted to the affected area within 24 hours. However, the DFID needs to strengthen its financial monitoring to establish how much of the GBP 50 million paid in grants to multilateral agencies and non-governmental organisations actually reached the victims of the disaster, and how much remains in bank accounts waiting to be spent. ... Read more

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(Earthscan) Presents the main debates of bilateral or multilateral investments in greenhouse gas emission reduction or sequestration. Examines key economic, ethical, environmental and social impacts of the Kyoto Protocol and the issues involved in constructing an appropriate framework. Softcover, hardcover also available. DLC: Climatic change--Government policy. ... Read more

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Britain has a very large winter excess of mortality, which is greater than in most other countries in continental Europe. The UK government has recently introduced a new home energy efficiency scheme (known as Warm Front) to improve the energy efficiency of dwellings of those on low income . The aim of this scheme is partly to tackle the adverse h ealth consequences (including winter death) of inadequate home heating. This study makes a direct connection between the risk of winter mortality and housing quality in England. It demonstrates that people living in homes that are difficult or costly to heat are at increased risk of winter/cold-related death. The study is based on new epidemiological analyses, which link mortality data with data on housing quality from a large national survey. Its innovative analyses provide new insights into the cause of the large winter excess of deaths in Britain.This report should be of interest to every one concerned with public health and housing policy, including central government policy makers; local authority housing, environment and public health professionals; NGOs with an interest in housing, older people and disadvantaged people; teachers and students of epidemiology, public health, nursing, housing and architecture. ... Read more

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September 11, 2001 was a catastrophic day in American history. Four Boeing jets were hijacked and brought down, precipating the collapse of the World Trade Center and part of the Pentagon, and leaving America in an unprecedented state of shock. Twilight Sky focuses on the cause of these tragic events: the takeover of two Boeing 767 and two Boeing 757 jets from American Airlines and United Airlines. Each chapter of Twilight Sky is devoted to each aircraft that was destroyed, describing the known events on board, how the hijackers might have taken control, the technical challenge they faced, and the flight profiles based on all available data. The text is lavishly supplemented by aeronautical charts and diagrams, as well as photos of the exact planes involved thanks to the contributions of some of aviation's most talented photographers.

The book closes with an overview of the state of the airline and aerospace industry in the wake of the disaster, summarizing national defense security measures and the resulting economic impact. Finally, procedural security lapses are discussed, some not yet touched by the news media, which if addressed and resolved will strengthen and solidify the safety of American skies. Every idea, from steel cockpit doors to "knockout gas", is reviewed and analyzed in detail to consider its weaknesses and viability. With prudent measures in place, tempered by the very liberty that American freedom preserves, the twilight sky will give way to a new dawn.Contains 63 pages, 25 photographs, and 21 maps and diagrams; color cover with b&w content. ... Read more

Customer Reviews (4)

Detailed, very detailed
Most of the titles I've seen fall into the category of tributes, remembrances, and anecdotes.I liked this title as it bypasses regurgitated news fodder and lays out the groundwork for what happened on this significant day.The one thing I didn't like about Twilight Sky is that it's a little on the short side, but the incident remains a criminal investigation and very little detail has been officially released.This book fortunately avoids treading into the realm of speculation.Other titles fill that void nicely.Overall, a great purchase given the reasonable price, and a great place to start in trying to understand the aviation threads of what occurred.I have to add the flight maps were quite interesting.

Twilight Sky
the book is pamphlet sized, and, even at 60 pages, is filled with standard photographs of airplanes, charts and such...it is an hour's read, and is quite outdated, since it was apparently written only days after the September 11 attacks, when little was known about the hijackers...it would be of little interest to the person seeking an in depth account of the events of September 11...

Great information for aviation buffs
There's plenty of information about September 11th out there, but this book is the single best source of reliable and unbiased information I've found on the aviation aspects of the attacks.It's well worth the investment for anyone interested in flying or commercial aviation.I especially liked how it wasn't sensationalized.Great book!

Surprisingly good read
This is an impressive collection of facts and data regarding the four plane crashes of 9/11 into the WTC, Pentagon, and a field in Pennsylvania. The author avoids emotional pandering and instead takes the reader on a technical overview of the airplanes that the terrorists had at their disposal, pointing out some of the things that (unfortunately) made their work easier. There's many photographs of the exact planes involved while they were in airline service as well as cockpit photos.Disaster images are presented in the form of excellent maps, navigation charts, and line drawings rather than sensational photos. The content is noticeably objective with opinions surfacing only in the final chapter where the author weighs in with a constructive look at the current risks to the flying public and how agencies can do better. This book is barely 70 pages but packs quite a punch of info and exposes some facts poorly researched by the press. Having read it on October 18 I'm amazed by how quickly it was written, too. For anyone who learned a lot from the Air Disaster series by Macarthur Job, this title belongs alongside them. ... Read more

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In eight Tuesdays each year, Federal Reserve chairman Alan Greenspan convenes a small committee to set the short-term interest rate that can move through the American and world economies like an electric jolt. As much as any, the committee's actions determine the economic well-being of every American. The availability of money for business or consumer loans, mortgages, job creation and overall national economic growth flows from those decisions. Perhaps the last Washington secret is how the Federal Reserve and its enigmatic chairman, Alan Greenspan, operate. In Maestro, Bob Woodward takes you inside the Fed and Greenspan's thinking. We listen to the Fed's internal debates as the American economy is pushed into a historic 10-year expansion while the world economy lurches from financial crisis to financial crisis. Greenspan plays a sometimes subtle, sometimes blunt behind-the-scenes role. He appears in Maestro up close as never before -- alternately nervous and calm, plunging into mathematics one moment and politics the next, skeptical, dispassionate, always struggling -- often alone.

Maestro traces a fascinating intellectual journey as Greenspan, an old-school anti-inflation hawk of the traditional economy, is among the first to realize the potential in the modern, high-productivity new economy -- the foundation of the current American boom. Woodward's account of the Greenspan years is a remarkable portrait of a man who has become the symbol of American economic preeminence.Amazon.com Review
Bob Woodward called his biography of Federal Reserve chairman AlanGreenspan Maestro for two reasons. First, Greenspan is a musician.He started out as a Julliard-trained jazz sax man. "He wasn't a goodimproviser," Woodward reports. And while the other guys got stoned allnight, Greenspan "read economics and business books and eventually becamethe band's bookkeeper." He also cultivated powerful pals, like Ayn Rand,whose coterie dubbed the dour young man "The Undertaker."

More profoundly, Greenspan is a maestro, a conductor, exquisitely attunedto every instrument in the political and economic orchestra. He rules byconsensus, but with a firm hand and notoriously inscrutable words.Marvelously, Woodward relates that Greenspan had to propose twice to hiswife, the violinist-turned-TV news star Andrea Mitchell, before sheunderstood: "His verbal obscurity and caution were so ingrained thatMitchell didn't even know that he had asked her to marry him." Woodwardgives us the inside story of what Greenspan really thinks and how heoutmaneuvered the most ruthless politicians on earth in some of thehairiest times imaginable, from the 1987 stock market crash to the 1994-95Mexican crisis to the stomach-churning turn of the century. It turns outthat for all his awesome knowledge of monetary minutiae, the Fed chiefliterally relies on "a pain in the pit of my stomach" to make decisions."At times, he found his body sensed danger before his head," writesWoodward. The Fed chief also adapts Einstein's technique to economics,hunting for discrepancies as keys to deeper theories. Einstein madebreakthroughs out of bent light; Greenspan deduced productivity gainsthat government statisticians had overlooked for years. (The gains appeared when Greenspan made the statisticians calculate productivity by business sector, the way it's done in the real world.)

Woodward's prose is cool and rational, not exuberant. But if you're intoeconomics and politics, you'll find a rich gossip trove here. Who knewReagan had a draft of a presidential order to shut down Wall Street tradingat hand in 1987? Scary! Reading Maestro is better than sitting withGreenspan in his famous tub as he charts your future--it's like being rightthere inside his head. --Tim Appelo ... Read more

Customer Reviews (93)

2 out of every 5 points he makes are right
This book makes a macroeconomic text book look exciting! It might be a fun read if you'd like to go through all his assumptions and see how many he got wrong or completely missed.

I wasappreciative of the fact that it explained economics in a way that I could understand too.
I heard MAESTRO by Bob Woodward . . . it's the account of Alan
Greenspan's role as chairman of the Federal Reserve from 1987
2000.

Though the book was not about a subject that I ordinarily would
seek out, I found it quite interesting . . . in addition, I was
appreciative of the fact that it explained economics in a way
that I could understand too.

What I liked best about it, however, was the fact that I got
to understand Greenspan's role as a maestro . .. though he ruled
by consensus, he did so with a firm hand that was able
to get support from both political parities in what were
some very turbulent times.

I also got a kick out the story behind his proposal to his wife . . . it
turns out the he had to propose twice to her, the violinist-turned-TV
news star Andrea Mitchell, before she understood that:

* His verbal obscurity and caution were so ingrained that Mitchell didn't
even know that he had asked her to marry him.

And this account of how Greenspan made decisions was most insightful:

* It turns out that for all his awesome knowledge of monetary minutiae, the
Fed chief literally relies on "a pain in the pit of my stomach" to make decisions.
"At times, he found his body sensed danger before his head," writes Woodward.
The Fed chief also adapts Einstein's technique to economics, hunting for
discrepancies as keys to deeper theories.

Actor James Naughton handled the narration duties . . . his familiar
voice added to my enjoyment of the book,

A very mediocre book...
This book covers, primarily, Alan Greenspan and his reign while head of the Federal Reserve. The two questions that hence have to be asked are does the book provide an valuable insights into Greenspan or his role at the Fed?

With respect to the first question, the book does not provide any more insight into who Greenspan "the man" and "the economist" were over and above what has been available to anyone reading a moderate amount of the popular press (i.e., Wall Street Journal, New York Times, Financial Times, etc.), nevermind what was contained in his memoirs "The Age of Turbulance". If one wants true insights into Greenspan "the man" and "the economist" his memoirs are a must read and far superior to Maestro. This understandingis invaluable to Greenspan's decisions and policies at the Fed. Hence Woodward's book does not provide the reader with this important background.

Secondly, the book, despite all Woodward's "insider" knowledge there are, again and very importantly, no real insights or news into both Greenspan's role and Fed policy in general, there were not available by reading the popular financial press. Anyone who has reads this press on a common basis (even if not on a day-to-day basis) will find nothing more informative in this book. Nothing.

Hence this book is real disapointment to those who keep up with financial news and a very poor alternative to Greenspan's memoirs.

The Federal Reserve 101
"Whoever controls the volume of money in any country is absolute master of all industry and commerce." ~James Garfield

I remember one day in the late 1990's, my professor in a macro-economics class said that Alan Greenspan was the most powerful person in the world. This intrigued me. At the time I knew very little about the Federal Reserve and nothing about Alan Greenspan. This particular book was published in 2000, which happened to be when I created my original to-read list. I decided I needed to know more about the man. Since that time, I have read nearly every book on that list with a few exceptions. This book was one of those exceptions. Books on economics aren't exactly page turners and frankly I dreaded it. It is now 2008 and unfortunately we are currently in the midst of one of the biggest economic crisises in our nation's history. Greenspan is no longer the Fed Chair; however, I felt like it was a perfect time to finally bite the bullet and read the book.

I have a fairly limited understanding of economics; however, I found this book very easy to read and understand. It was a really good economics refresher. The book explained the following concepts/subjects in more detail:

- How the Fed Chairman is appointed
- The role of the Fed Chairman
- Low interest rates vs. inflation
- Treasury bonds
- The FOMC
- The Fed fund rate vs. the discount rate
- The stock market
- Law of supply and demand
- Disfiguration of capitalism by government
- Black Tuesday of 1929 that led to the Great Depression
- Stock market crash of 1987 and Greenspan's role in overcoming it
- The Russian and Mexican financial turmoils
- LTCM (Long Term Capital Managment)

I did enjoy the detailed insight into why the Fed cuts or raises interest rates; however, the book was tedious at times discussing what seemed to be every interest rate move that occured between 1987 and 2000.

The parts I enjoyed the most were the anecdotes regarding the powerful and influential people he worked with such as Reagan, Bush Sr., Clinton, Bush Jr., McCain, Cheney, and even Ayn Rand. Greenspan, a Republican, was originally appointed by Reagan; however, he seemed to have the most influence on Bill Clinton who reappointed him twice. He was able to convince Clinton before he became president of the importance of keeping the long-term rates down and keeping them down with a strong deficit reduction program that could sustain and increase economic growth. Near the end of Clinton's administration there was steady economic growth, low inflation, unemployment at an unheard of 4% and the Dow was above 11,000. The US was truly in an "economic boom". Greenspan had direct and indirect influence on this.

The reason I give the book three stars (I wish I could give it 3 and a half) was primarily due to undue repetion throughout the book and because I wanted it to be more of a biography. It goes into his life a little but not enough to satisfy. I realize that's not what the premise of the book was but I wanted to know more about him as a person.

The author Bob Woodward, yes that Bob Woodward (the reporter who helped uncover the Watergate scandal), praises Greenspan throughout the book and deservedly so. He was considered the authority on American monetary and economic policy. The market would ebb and flow on his every word. At the end of the nineties, Greenspan was all over in the press and nearly always shown in a positive light. He seemed to always have his finger on the pulse of what was going on.

There is an ominous paragraph on the last page of the book. It says the following:

"When would the boom end? When would he goof? What was the hidden factor or brewing crisis that no one was anticipating? Stock market, banks, oil prices, Asia, Russia, hedge funds, an environmental crisis, a health catastrophe, drought, famine, scandal, war?"

Unfortunately, we know what happens next. Bob Woodward proved to be prophetic. Coincidentally, while I was reading this book, I saw Greenspan on the news in front of Congress explaining that he was partially at fault for the economic woes we now see. He admitted he was at fault for opposing regulation of financial institutions.

It will be sad if this current crisis tarnishes his legacy and years of service. Rep. John Yarmuth of Kentucky compared Greenspan to Bill Buckner whose fielding error caused Boston to lose the 1986 World Series. As a sports fan, I know just how harsh this comparison is, but we will eventually pull out of this crisis and all will be forgiven. The Red Sox fans have forgiven Buckner, after finally winning the Series. If this is possible than anything is possible.

good for a look back at an insane time
From the prespective of 2008, this book is almost laughable. Its a fawning tribute to a man and an era that proved to be about constructing an illusion rather than building an economy.

In the overheated smokey world of the book, Alan Greenspan is "Maestro". The great humanitarian economist who can create music with an instrument or with an economy. In 2008, Alan Greenspan is a man who created two enormous asset bubbles in the world economy and led the entire world financial system to the edge of collapse.

The book is in most aspects a perfect reflection of the faults of the man and the era. Its a book more of the imagination than reality. Its a book that doesn't want to look to deeply or ask difficult questions. Its a book about wanting to believe rather than looking behind the curtain.

Rather than the truth that Greenspan is a Ayn Rand trained objectivist devoted to the idea that human events and behavior can be taimed by mathematics, the book wants to paint a picture of greenspan the jazz sax man who makes decisions based on hunches. Rather than question Greenspan's reinterpretation of economic data to make "bad" trends "good", the genius of greenspan in finding the hidden meaning in productivity figures is explained.

The greatest fault of Bob Woodward the writer is that he allows himself to be used by his subjects. Rather than reporting or analysis, Woodward is about backslapping, favors and access. It was as true at the time of this silly book promoting Greenspan as genius as it later was when Woodward started selling the Iraq War for the white house.

The book is useful for amusement purposes only. It should not be taken seriously. ... Read more

Customer Reviews (5)

El Niño in History. Storming through the ages.
This book, written by Dr. Cesar Caviedes about the historical implications of El Niño, is an excellent source of information and also a valuable teaching tool for undergraduate teaching. I have used the first chapter to explain to the students of an introductory Environmental Science course at Georgetown University the basic oceanic and meteorological processes that are involved and explain El Niño events with great success. The book does not only offer clear explanations, but it also is rich in appropriate illustrations that further clarify the intricate concepts. The book is written in a very engaging and creative manner reflecting in my opinion Dr. Caviedes' expertise in this subject and also his qualities as a teacher.
A work like this entices the reader to look at history with a new and different perspective, a history which is much more intertwined with climatic events than we may have assumed. The discovery of Rapa Nui (Easter Island), the failure of the Napoleon campaign in Russia and the defeat of the German Army at Stalingrad during the Second World War, are telling examples that attest to the importance of environmental circumstances in the outcome of some human affairs.
I enjoyed this book the first time I read it and I still savor it when I return to its most thrilling passages. Highly recommended!

Historically correct
Press attribution of the unsusual weather of 1998-99 to El Nino gave hitherto unprecedented notoriety to this profound weather phenomenon, thus leading much of the public to believe that this was something new. It is very ancient.
Because of an interest in the history of sailing ships, this reviewer thought he was knowledgeable about El Nino, which controls the Humboldt Current flowing up the west coast of South America, significantly affecting sailing ships and vital for Peru's fisheries.

Nevertheless, this scholarly and thoroughly documented account was a revelation in its details of El Nino's long history and vast worldwide climatic effects, both beneficial and disastrous. This book can be strongly reommended, not only for meteorologists and climatologists, but also for archaeologists, historians and anyone concerned with agricultural policies anywhere.
Most particularly, this is recommended reading for anyone producing computer models purporting to forecast global warming trends.

El Niño in History
Dr. César Caviedes' recent book entitled El Niño in Historyis based on numerous historical references that the author has collected over more than 30 years. In the early chapters of the book oceanic and meteorological mechanisms of El Niño and its counterpart, La Niña, are described. The author then identifies and examines numerous events in political, military, social, economic and cultural history that were influenced by El Niño and La Niña. Events include storms and floods, droughts,military campaigns, hurricanes and shipwrecks covering a wide time frame extending from the present to more than 10,000 years ago.

The author describes an example ofhow El Niño altered civilizations.He uses the Chicago Field Museum study in northern Peru (Nials et al. 1979) to illustrate a multi-disciplinary approach to identifying historic El Niño episodes in periods when climatologic data are not available. In the Nials study archaeologists, geologists and other specialists compared large river deposits left by contemporary El Niños with fossil deposits found in the area.As a result of these comparisons Nials and other investigatorswere able to date and size historic El Niño events in pre-Columbian Peru.Investigators were then able to conclude that the coastal Moche and Chimu civilizations were decimated by El Niño associated floods and droughts which ultimately led to the ascendance of the mountain dwelling Incas.

The author issues a direct challenge to readers of his book who are fond of environmental history. He suggests that they searchwritten sources for references to extreme climatic events that serve as a back drop for notable historical circumstances to see if they can be related to a specific El Niño occurrence.

Dr. Caviedes is to be complimented on his excellent presentation of a complex and intriguing subject. I highly recommend this book to anyone who has a multi-disciplinary interestin history.Accept his challenge andidentify a previously unknown civilization altering El Niño!

Excellent book to learn about the impacts of El Nino!
The author explains in very clear language the complicated El Nino phenomenon and its far-reaching ecological, social, economic and political impacts during the last few centuries. The book is an excellent example of how an interdisciplinary approach can shed light on a complex oceanic-meteorological event and its ramifications throughout the world and human history.The author weaves meteorology, oceanography, history, economics, ecology, and political and social sciences in to a rich account of the history of El Nino. The book is founded on thorough scientific research, yet completely comprehensible for a lay person like me. The clear style of writing kept my attention to the last page. The numerous illustrations and graphs are very effective and helpful. Anybody who is interested in El Nino and its impact on human events will find this a very insightful book.

Great book about historical facts of "el Nino"
Dear Sir or Madam, While visiting the city of Toronto in Canada recently I came across a new book about the climate phenomenon "El Nino". After having read this book all I can say that this title is excellent, and probably one of the best documented books published lately on this subject. The historical perspective projected by Dr. Caviedes is of great value to people that dedicates time to think about, or, to study all the latest changes in the weather patterns that we all see nowadays, and some of us experience first hand. Like this current summer drought across Canada, whereas in some other areas of this great country were suffering heavy rains and potential floodings three weeks ago in the midwest of our province of Alberta. In a few words I recommend this book to anyone interested in understanding these modern type of climate changes, Excellent and the most complete and documented of the works that I have seen published lately. Sincerely, Gui Lagos Calgary, AB. Canada. ... Read more

Product Description
The Kyoto Protocol is expected to give lead to the creation ofan international market for greenhouse gas emission credits having anestimated volume of several tens of billions of dollars. The extent towhich forestry projects will be accepted in this market is a matter ofcurrent discussion and controversy. In its evaluation of the contribution of forestry projects to climatechange mitigation, this book draws together a number of relevantaspects, including the stability of international agreements, causesand consequences of deforestation, and the CO2 effect offorestry projects. This wide perspective gives an appreciation ofoften unappreciated problems and opportunities associated withforestry projects in the context of climate change. The book includes case studies of two forestry projects which providean introduction to such concepts as baseline, additionality, andleakage -- concepts that are commonly used to assess greenhousegas mitigation projects. Readership: The environmental policy community, environmentalNGOs, scientists and business seeking to benefit from the CO2market, as well as the general public. ... Read more