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Summary: IT'S GLOBALICIOUS! (Harper's, Oct. 1999)
Review: Not an extended analysis of the costs/benefits of the "new" world economy but an adrenaline-fueled, wide-eyed, superficial "everythings for the best" in this the most perfect of all possible worlds. I almost can see Friedman at the wheel of his virtual Lexus, talking on his cell phone, selling France, holding Korea,ignoring the speed limits and running me over.
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Summary: repetitive
Review: Repetitive, very little substance. Good book to give to someone older who you know feels out of touch with the "fast" world.....this book isn't so fast.
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Summary: Would like to have seen how his insights applied to the US.
Review: 1. Friedman asserts the Asian economic crisis was sparked by lack of accurate information. Now, we have _more_ information that is equally inaccurate. A. Look at the apparent growth in Chinese production, yet their declining oil consumption. How is this possible? B. Korean export revenues are falling faster than their import prices. How can they repay their debts? C. Japan's debt as a percentage of GDP is greater than 130%; if you include the pension liabilities it exceeds 200%. How can they repay their debts? 2. Having more information doesn't matter. What matters is when the herd decided to pay attention to reality. 3. Friedman asserts that the herd moves money in response to information; where there is corruption, the markets run away. A. Untrue. B. Markets love risk and corruption. If there's a buck to be made, there's no requirement that people are ethical before they get money. Just as long as another fool will buy later. 4. The author fails to apply his insights about corruption, fraud, and lack of transparency to the US markets. A. Applying his theory that "money leaves the corrupt society", we should have seen money leave the US markets in response to earnings management, washes, and cooking the books. B. This hasn't happened. 5. The author does not explain why the similarly corrupt and misleading accounting practices in US markets have yielded superior returns. A. Par for the course in Wall Street, where the SEC is undermanned and earnings don't matter. B. GAAP says one thing, but the auditors "wink wink" the hidden reserves because they have shares in the companies they audit. 6. It would have been more useful to read what the US companies need to do to apply the lessons learned from Asia. 7. Readers are encouraged to read between the lines. A. The problems that existed in Asia are just as prevalent in the US. B. We believe this is a new paradigm--profitless growth, rising debt, falling margins, and the same accounting gimmicks that still exist in Asia. C. Investing is easy; the hard part is getting back your uninsured 401K when the herd wakes up.
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Summary: His interesting points have already been made by his betters
Review: In The Lexus and the Olive Tree, Friedman, longtime foreign affairs columnist at the New York Times, tackles the rather popular subject of globalization-the sudden fall of barriers between nation states caused by the rise of international corporations, worldwide media and computer technology. Friedman is an unabashed enthusiast of the interconnected global economy; he more or less accepts that unfettered worldwide capitalism is a fait accompli, and suggests that those who resist it are fools or cowards. Unfortunately, Friedman offers little new insight into this, his favorite territory, and his writing is often noticeably unperceptive. Two other, far more insightful books written for popular (but intellectual) audiences have already tackled this subject, reached more cogent conclusions, and with far less tortured writing. I recommend Benjamin Barber's Jihad Versus McWorld for a brilliant take on the conflict between globalization and its antithesis, fundamentalism. And for a clear-eyed look at where the global economy is headed, read One World, Ready or Not by William Greider. The former Washington Post editor (who now writes for Rolling Stone) is a better economics correspondent than Friedman, and his writing is far superior.
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Summary: Look elsewhere for interesting reading
Review: Obvious, folksy, self-involved, trite rehash of the current received wisdom of the 'global village' and the 'new economy'. A cynical attempt to (a) exploit this current "globalisation" bandwagon and (b) promote himself as a cool and well travelled guy Friedman. And regularly factually and/or conceptually incorrect. Real chicken-soup analysis. I'm upset with myself for having wasted money on this book. The pity is, when he sticks to journalism (e.g. Beirut-half of "From Beirut To Jerusalem") Friedman is a fine writer; it is when he tries his hand at commentary and analysis that it all comes horribly unglued.
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Summary: An insightful and big picture-like book on current events
Review: The book provides a comprehensive framework to understanding how to interpret the many economic, social and political changes that the world has seen in the 1990's and will continue to see in the next decade and most probably beyond that. I will never look at a regional conflict, an economic crisis or a political upheaval the same way again. Mr. Friedman's book allows the reader to develop a thorough understanding and appreciation of the big picture as we all struggle to comprehend the ramifications of the fast changes spreading throughout the world, brought on by globlization.
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Summary: A great book: I wish every member of Congress would read it!
Review: Tom Friedman's great talent is in making complex concepts understandable. He's really covered the waterfront in this book--not only the key aspects of what globalization is, but also what we need to do to be able to live with it. I think he's the best non-fiction author I've ever read (I loved from Beirut to Jerusalem too).
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Summary: One Side of The Coin !!
Review: The book is very entertaining , it could even be a nice action movie , or a modern version of an exciting cow-boy film . Though, Ideas are contradictory sometimes .For example ,on page 237 Friedman is quoting his rabbi teacher for what he personally believes is ideal for " Glo c alism " stating : " The sign of a healthy absorption is when a society can take something from the outside ,................. ....... and forget that it ever came from the outside." . Then, only one page latter , he declares his disappointment that a young japanese girl thought that Mcdonalds was a japanese chain !! Isn't this a clear example showing that this girl or her sub-culture imported Mcdonalds ,then forgot that it came from outside ?? Second,the author started his book with pinpointing the equal importance of both the Lexus and the Olive Tree ,then he goes on throughout the book , in a very clever style , promoting the lexus and suppressing the olive tree , another contradiction . My final major observation is the fact that Tom neglected completely the other views, sometimes opposing views , of globalization. He even neglected the solid European side of the coin. I cannot imagine that he did not read " The Global Trap " of Martin & Schumman. But, no doubt, I enjoyed , most, his light funny anecdotes.
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Summary: Good preliminary analysis. Conclusion not supported.
Review: The first 90% of the book consists of a good description of the increasing integration of the world, constraints on governments spending and ways of doing business and increased overall competition. He describes why and how the US is the leader and will likely remain so. Then, with no explanation and no supporting data, he launches into an attack on the Republicans "mean spirited" attempts to do exactly what he previously called inevitable. This unbelievable conclusion called into question his thought processes for the entire book. I would recommend this book except for the wacky ending.
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Summary: Perspective on past, present & future of globalization
Review: This is the best book I have read so far on the convergence of financial deregulation, silicon technology and telecommunications, and their overwhelming impact in making the globe a single vast market moving at unprecedented speed. Unlike many authors, Friedman has a solid grounding in recent international history, politics and business from his career as the NY Times Foreign Affairs correspondent. He also sees clearly the implications of new technology and financial systems. Very lucidly written with a fast-paced, comprehensible style.
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