A heartbreaking yet authoritative, necessary look at a ruined nation.
Tracking the tragic demise of the once-thriving, oil-rich nation.
As the Caracas-based Andes bureau chief for the New York Times from 2012 to 2016, Neuman is well qualified to recount the South American nation’s precipitous decline. He records Venezuela’s dramatic political and economic changes through interviews and deft firsthand observations, exploring the collapse of social institutions, entrenched poverty, staggering inflation, chronic blackouts, famine, and pervasive despair. Neuman points to two specific elements that help explain the tumult: the “Resource Curse” caused by its massive oil wealth, to which the entire economy was chained; and the violent rift between those who supported Hugo Chávez, the publicity-hungry president who nationalized the oil industry and centralized the government, and those who did not. Chávez “mined [the rift] and encouraged it until it became part of the landscape, something that people took as a given.” When he died in 2013, after 14 years as president, he was succeeded by his crony Nicolás Maduro, “a less talented politician who styled himself as the ideological heir of the man he called the eternal comandante.” In 2014, the massive drop in oil prices collapsed the economy, as the country depended almost entirely on its oil exports, at the expense of all others. In 2018, the disputed reelection of Maduro, tainted by heavy-handed oppression of his opponents, led to the attempted coup by the head of the National Assembly, Juan Guaidó, who declared himself interim president in 2019. Despite support by the U.S. and others in a concerted effort to depose Maduro—accompanied by crippling sanctions by the Trump administration—there was no citizens uprising, as hoped, just more misery. The author delivers the best kind of journalism, combining powerful facts and pointed observation, as he moves from one alarming event to the next, bringing into the spotlight countless Venezuelans who have little hope for the future.
A heartbreaking yet authoritative, necessary look at a ruined nation.Pub Date: March 15, 2022
ISBN: 978-1-250-26616-3
Page Count: 352
Publisher: St. Martin's
Review Posted Online: Dec. 23, 2021
Kirkus Reviews Issue: Jan. 15, 2022
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
SEEN & HEARD
Alternately admiring and critical, unvarnished, and a closely detailed account of a troubled innovator.
A warts-and-all portrait of the famed techno-entrepreneur—and the warts are nearly beyond counting.
To call Elon Musk (b. 1971) “mercurial” is to undervalue the term; to call him a genius is incorrect. Instead, Musk has a gift for leveraging the genius of others in order to make things work. When they don’t, writes eminent biographer Isaacson, it’s because the notoriously headstrong Musk is so sure of himself that he charges ahead against the advice of others: “He does not like to share power.” In this sharp-edged biography, the author likens Musk to an earlier biographical subject, Steve Jobs. Given Musk’s recent political turn, born of the me-first libertarianism of the very rich, however, Henry Ford also comes to mind. What emerges clearly is that Musk, who may or may not have Asperger’s syndrome (“Empathy did not come naturally”), has nurtured several obsessions for years, apart from a passion for the letter X as both a brand and personal name. He firmly believes that “all requirements should be treated as recommendations”; that it is his destiny to make humankind a multi-planetary civilization through innovations in space travel; that government is generally an impediment and that “the thought police are gaining power”; and that “a maniacal sense of urgency” should guide his businesses. That need for speed has led to undeniable successes in beating schedules and competitors, but it has also wrought disaster: One of the most telling anecdotes in the book concerns Musk’s “demon mode” order to relocate thousands of Twitter servers from Sacramento to Portland at breakneck speed, which trashed big parts of the system for months. To judge by Isaacson’s account, that may have been by design, for Musk’s idea of creative destruction seems to mean mostly chaos.
Alternately admiring and critical, unvarnished, and a closely detailed account of a troubled innovator.Pub Date: Sept. 12, 2023
ISBN: 9781982181284
Page Count: 688
Publisher: Simon & Schuster
Review Posted Online: Sept. 12, 2023
Kirkus Reviews Issue: Oct. 15, 2023
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