European-Union
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Eurasia Unplugged
A 'Must Buy' for Understanding Asia and Europe

interesting historical & political overview
Brent Nelsen is a Norse God!
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A Cold November
Reads like a novel!

Monopolists Hate Competition especially in MoneyThe Annual Hayek Lecture Series is one of the major events of the year for the Institute of Economic Affairs, the London based free market think-tank. In 1999 the Institute invited Herr Otmar Issing, previously member of the board at the Bundesbank and currently an Executive member of the European Central Bank, to deliver the lecture. Professor Her Issing chose as his subject, Hayek, Currency Competition and European Monetary Union.
It is instructive some thirteen weeks after the introduction of the Euro to revisit this text and see how his argument holds up.
The lecturer begins with an acknowledgement of Hayek's contributions in several areas of politics and economics before consideration of his seminal paper for the IEA, "Choice in Currency: A Way to Stop Infation", and the later paper, "Denationalisation of Money".
In what follows Issing lays out as he sees it the essential concepts of Hayek's proposal before proceeding to establish through carefully argued analysis, a connection with the single European currency.
In his conclusions to the paper Issing suggests that having a single European Central Bank and a single European currency are the true heirs to hayek's legacy given that they will accomplish what Hayek himself had set out as his ultimate objectives.
Issing's case here is a travesty of the Hayek proposal, based as it is on the selective interpretation and misuse of the texts to substantiate his argument. In fact, if anything the single currency will do more harm than good as it is now in use in a European Union which does not have a single market, and where there are many barriers to internal trade and factor mobility. The so-called independence of the central bank is a falsehood. Consider the similar independence of the Bundesbank when Chancellor Kohl established the exchange rate between East and West German currencies. The continued high level of unemployment in the East of that country is a lingering testament to that political interference.
Similarly, the independence of the Central Bank cannot be guaranteed as the current jockying for positions by the French President, among others shows.
Having said that, this book provides a stimulating look inside the mind of a central banker, whose mindset now reflects that of the institution that employs him. Despite the attempted hijacking of the ideas of a great economist, this book deserves to be read by anyone with an interest in monetary economics.
Superb
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example of Russian trivial life in Homeric form
Apartment wars
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Turgenev's greatest play
Russian+19th century=good
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The definitive work on this topic.
Top notch work by a highly-qualified professional
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How the soviet economy was forged for warIn "Plans for Stalin's War Machine", the Norwegian Lennart Samualson makes an effort to put the economic planning of the three pre-war Five-Year Plans in perspective with the military planning and military doctrine. He argues, not quite surprisingly, that the armed forces have always dominated economic planning. Central figure in the book is Tukhachevsky, successively chief of staff, commander of the Leningrad military district and deputy people commissar (minister) for defence, only to fall victim to Stalin's Great Terror in 1937. Tukhachevsky was the main architect of the Soviet military doctrine of 'deep battle'. Deep battle was the Red Armies way to overcome a trench warfare. Huge forces of modern equipment (tanks, aeroplanes and artillery) would crush the enemy's lines. Meanwhile, great forces of airborne troops would make sure the enemy would get surrounded and would siege main communication and transport point in the hinterland. After this policy got adopted in the early 1930's, it was up to the soviet industry to supply the army with the requested amounts of tanks, aeroplanes and artillery.
As Samuelson points out, things went dearly wrong. The reason for this failure lies in the fact that the Soviet Union couldn't afford to invest heavily in the defence industry. It therefore chose a to set up a dual industry: in case of war, civil industry would transform itself to war industry. Tanks could easily be build on the framework of a tractor of car, Tukhachevsky argued. After 1937 the Soviet Union abandoned this tactic because the civil industry didn't seem able to deliver the goods the Red Army ordered. Just as things get tense - there's a war closing in - the author speeds up his book.
It takes half the book to cover the six years from 1925 to 1931, in which the Red Army basically was wondering how it would survive any war, given the deplorable state of the soviet economy. It than decided that there was no real war threat at all, since none of the likely enemies were able to form any real danger. But as things get really interesting - after all the war forms a real test for the soviet idea's on tactics, the quality of it's weapons, troops and newly build industry - the book gets less and less detailed.
The final chapter on "Economic Planning in Terror and War, 1937-41" shows us a huge amount of tables. The tables show the planed production for the third Five Year Plan (1937-1942). But as Samualson had so well explained previously, actual spending hardly ever followed the plans made in advance by Gosplan, the central planning agency. Apparently, Samualson couldn't find enough archival evidence on the state of the Soviet economy in the thrird Five-Year Plan.
Meanwhile the reader has gotten spoiled by quality material. And most of all, the weak evidence presented by the author doesn't seem to prove his conclusion that in the final pre-war years, the soviet economy succeeded quite well in supplying the Red Army with vast amounts of tanks, aeroplanes, artillery and ammunition. In fact, the first period of war for the Red Army knew larges shortages of supplies, partly because warehouse had been build close to the border and were destroyed by the Germans, partly because of a very weak transport system. Any good mobilisation plan would have dealt with the transport problem. Since he couldn't provide sufficient information on the final period covered by his book, Samuelson should have limited it to the period of 1925-1937. That way, he certainly would have gotten five stars.
Brilliant account of Soviet defence plans for WW2With the first five-year plan, the Soviet Union developed an advanced industrialised civilian economy. The vital machine building, automobile, tractor, chemical and aircraft industries could be swiftly mobilised in case of war. Samuelson argues that this did not lead to what could be called a 'militarised economy', because the USA, France, Italy and Germany made similar preparations for the demands of total war.
He also discusses Soviet strategic thinking. In the 1918-21 War of Intervention, the armies of fourteen capitalist states invaded Russia, trying to overthrow the revolutionary Government. This naturally confirmed the Soviet leadership's belief that these states would inevitably attack the new socialist state again. The debate raged - could the Soviet Union defeat such an attack? In 1927, Marshall Tukhachevskii, then Chief of Staff, said that the Soviet Union would be defeated, "unless the European revolution will come to our rescue." In 1936, when he was Deputy Defence Commissar, he agreed with Trotsky that Nazi Germany would definitely defeat the Soviet Union. This consistent defeatism was hardly appropriate to a leading figure. Further, Tukhachevskii wanted the military, not civilians, to run military-industrial planning, a clear threat to the Party's leadership of the country.
Samuelson concludes, "With regard to industrial mobilisation, it [the Soviet Union] was certainly ahead of Germany - having adopted the best methods and techniques for preparing the economy in general, and industry in particular, for the test of wartime production conditions." He sums up, "The presently available data give on the whole a more balanced and well-equipped Red Army on the eve of Operation Barbarossa than in the historiography of past decades."


Thought Provoking.Ulam's excellent biography puts into perspective how a seemingly under-educated person such as Stalin could fill the void left by a giant of a person like Lenin. The part of the book that is most insightful is the chapters describing the power stuggle that took place "after" V.I. Lenin's death. You really start to understand how a gifted author and orator such as Leon Trotsky lost the battle for Lenin's mantle to Stalin. A person can even begin to sypathize for Stalin, but then the author describes what happened after Stalin became the maximum leader of the USSR in 1929. Of course everyone knows what happened after 1929, collectivization, purges, show trials of Bukharin, Kamenev, and Zinoviev, and the assasination of Leon Trotsky. Ulam's book is quite lengthy, but it is well worth the read, I would recommend this book to anyone.
Beautifully written
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Informative and surprisingly easy to readHaving read this book, the reader is certain to have a solid understanding of the political climate and current problems of the countries mentioned above. Very good.
I like two particular details: a. In each chapter, politically important people in the respective countries are described and introduced with a small CV (less than half a page each).
b. Furthermore, Derleth has added to each country's chapter a very helpful overview of related and relevant internet adresses where one can obtain additional information on a variety of political issues. Thanks for this detail.
However: My reason for giving this book only four stars instead of five are: 1. A slightly clearer point of view would be helpful in some of the chapters. For example, in the Bulgaria section, crime is described a couple of times as being on the rise, but in the very end is is said that under the current government, crime is down. I fully understand what the author means, namely that the crime wave seems to get under control by the ODF government, but on a couple of occasions there are some unclarities. Another way of putting it would probably solve these things.
2. Some more maps... Although each country's section is introduced with a good map, this good book could benefit from just a few more illustrations. Why not some photos/pictures of the most important figures? OK, most of us now very well how e.g. Yeltsin looks like, but why not in each country's section bring four or five photos/pictures of the most important persons in both historical and political sense?
That's it. Summa Summarum: If you want fresh and up-to-date info on politics in Russia, Bulgaria, Poland and Hungary, buy this book. Other readers may find the number of maps fully satisfactory, it's a matter of taste. The most important thing is that everything is explained in a way so that even a person knowing absolutely nothing about these four countries will obtain a solid and useful knowledge, on history as well as politics.
The "Why" Behind Successful Transitions from CommunismHe gives a thorough overview of the political systems, party systems, and electoral systems in each country, then demonstrates how the design of those systems directly affects outcomes in the transition process. Taking Russia for example, he demostrates how the checks and balances between the President and the parliament are strongly tilted towards the president. This system that gives the president so much power has caused instability when the president has tried to impose policies that lacked legislative support.
In taking this comparative approach, Derleth looks at historical similarities and differences, but he also examines the reforms that have been implemented and how they differ from one country to the next. If one wants to clearly understand the politics of countries in this region, this book offers a clear and concise way to do so.
I particularly enjoyed the overviews of the history of each country, but also found them quite telling about the contemporary situation in each countries today. For example, Derleth writes of Bulgaria, "As a result of Bulgaria's almost slavish alliance with the former Soviet Union, it has most of the latter's economic, politicial and social problems . . . this political and economic legacy has made it difficult to create a civil society, democratic institutions, and a market economy based on the rule of law."
What makes this book so useful is how it shows the inseperable relationship between politics and economics. Without the right kind of political reform, economic reform is doomed to fail. For example he shows how political battles in Bulgaria have prevented crucial economic reforms, such as privatization.
He also does not ignore cultural factors. He notes that one cultural factor that has led to Hungary's success is its previous economic and cultural links to the West. However, while Derleth considers the importance of culture, his book offer hope beyond the all-too-common refrain that countries are victims of their history. This book shows that there are right ways to establish political and econmomic systems, and that doing it the right way can direcctly lead a country towards freedom and prosperity -- regardless of their history.
One can take this lesson and apply it to any underdeveloped country. Derleth's approach is to look at the country's economy and ask such questions as, "To what extent have enterprises and property been privatized? How open and competitive are markets? What is the legal enivronment in the area of invesments?
Look at a country's political system, and ask such questions as "Is there a democratic, multiparty systems with free and fair elections? Do citizens have civil rights such as free speech and freedom of assembly?
Derleth leaves readers with hope for this region, noting that legal rights are being strenghtened, economic reforms are being implemented, and even former communists are learning to play politics in a democratic setting.
The economic relationship between the European Union (EU) and East Asia is becoming an important structural feature of the world economy, and Christopher M. Dent, Senior Lecturer in Economics and European Studies at the University of Lincolnshire and Humberside makes a commendable effort at drawing together the threads of the emerging EU - East Asian inter-regional tapestry.
Dent's latest book offers a thorough analysis of the present state of Eurasian economic relations, and their historical development, primarily in a post-war context. He examines bilateral, inter-regional and multilateral dimensions of EU - East Asia 'economic diplomacy' with frequent reference to the wider triadic framework. Developments at the sub-national, state and regional level that influence the EU - East Asia economic relationship are identified.
In the concluding sections to most chapters, different theoretical perspectives from the field of international political economy are applied to enhance the reader's understanding of the substantive issues covered. The theoretical perspectives chosen from the field of international political economy - neorealism, neoliberalism, and Marxism - serve to highlight the strengths and weaknesses inherent in each approach.
The first chapter sets out the theoretical perspectives and introduces some of the economic themes echoed throughout the text. Following an overview of recent events up to 1998 in EU-East Asia economic relations, Dent details the development of 'economic diplomacy' between the EU and the Association of Southeast Asian Nations (ASEAN), Japan, China, Taiwan and Hong Kong, and South Korea. These relationships are all subjected to a rigourous treatment, backed up with a good many statistical and economic data presentations.
The economic development prospects and future challenges facing the East Asian states are reviewed, with consideration to the impact and implications of the 1997-1998 financial crises that enveloped Asia. The role of regionalism in both East Asia and Europe, and the evolution of inter-regional co-operation mechanisms also are covered. The inter-regional dimension provided by the Asia-Europe Meetings (ASEM), is discussed, as are challenges related to its future development. The concluding chapter considers the future prospects of the EU-East Asia economic relationship.
Dent's principal argument is that the EU must give greater priority to the promotion of its economic relationship with East Asia, a relationship that could have a significant impact on the international economic system in the twenty-first century. As the weakest component of the triadic link, the EU risks future 'geoeconomic marginalisation' as the transpacific axis endures into the twenty-first century. Dent argues that the EU and major East Asian powers therefore must assume greater responsibilities for managing the international economic order, in part to counter the continuing influence of the United States in the global economy.
The text demands a careful reading, as Dent has peppered important insights throughout the narrative. A short review cannot do the study justice, but his treatment of EU - China relations is noteworthy. Dent makes a convincing case that China's accession to the WTO will have an unprecedented impact on international economic relations.
Of relevance to the current effort to launch a new round of trade negotiations, Dent considers the EU-US initiative to include new issues (environment, investment, labour, etc.) traditionally regarded as matters of domestic economic policy as unwelcome by China. Given its sensitivity to managing its own internal affairs, and the existing suspicions among developing countries about the inclusion of new issues, China becomes a formidable force against the further extension of the multilateral trading system. Mr. Pascal Lamy, EC Trade Commissioner, has acknowledged this recently, and urged that a new round be launched if possible before the formal WTO accession of China is completed.
Dent also points out that it is likely China will request WTO dispute panels targeting the EU anti-dumping regime, and deploy other multilateral instruments to further open the EU market for its products. In this regard, China will be joining with other states in the region, such as Indonesia, which are becoming more determined to overturn the European and American anti-dumping regimes. It is clear that access to the EU textile and clothing market, among others, will be a flash point in the future.
He also takes note of the key role in Chinese domestic and foreign economic policymaking played by the provincial authorities. The internal dynamics of Chinese political economy are rarely highlighted in western policymaking circles, where it is still assumed that Beijing really does hold all the power cards. Dent, however, realises this is a flawed perspective and proposes an eyes-open approach to engaging in economic diplomacy with China. Brussels would do well to heed him on this point, and take his counsel on developing a more robust engagement strategy for reinforcing the EU in East Asia as a whole.
Students of International Economic Relations, and Asian and European Studies will find the volume offers insights to the challenges facing East Asia, and the potential role the EU can play in the region.