Kelly Langton Langton itibaren Gemeinde Reith im Alpbachtal
In The Commanding Heights, Yergin chronicles the flirtation / infatuation with socialism that swept across the world in the twentieth century and the subsequent reaction toward a market economy that followed. From the New Deal policies in the United States to European nationalism to the Soviet centrally planned economy to the Asian tigers, each system is presented at a level that is informative without being tedious. Then, case by case, Yergin examines (some of) the shortcomings and transition to a system where price rather than government is used to influence decision making. This book is a great broad introduction to world economic history in the twentieth century, but being an overwhelming topic and analyzing it through a single lens obviously leads to some simplifications and generalizations. The conclusion – free markets create more wealth, freedom and innovation than socialist ones – is one that is hard to argue with although particular cases continue to be more complex than presented. Specifically, the reality of some of the “miracles” in the Far East (might Singapore be more centrally planned than market driven?) and the minor re-nationalization trend currently making its way through commodity rich South America are counter to specific points but not general trends. Additionally, situations in China, India and (especially) Russia could all use an update since this 2000 edition was printed. Overall, I would highly recommend this book to those that are interested in the high level push toward a free market that has engulfed the world over the last fifty years and the benefits it has delivered. Many times it is helpful to step back and look at the big story rather than small events and Yergin’s book does this wonderfully.