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ISBN 9780132339421 Published Sept. 2008
Wharton School Publishing
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Posted Dec. 10, 2008 3:00 a.m. by 800-ceo-read
In Book Awards - 800 CEO Read Blog
The books on our 2008 shortlist for the Globalization Category are:
A Splendid Exchange: How Trade Shaped the World
by William J. Bernstein (Atlantic Monthly Press, April 2008)
In this astonishingly erudite book, William J. Bernstein chronicles the history of world trade, clearly expelling any myths one might have that globalization is a recent phenomenon. Starting in Sumer around 3000 BC with an account of a tribe of herders attacking a community of farmers at harvest time, and ending in the streets at the Battle of Seattle (the 1999 WTO protests), this book entertainingly covers centuries of human economic activity and progress.
Africa Rising: How 900 Million African Consumers Offer More Than You Think
by Vijay Mahajan with Robert E. Gunther (Wharton School Publishing, September 2008)
Vijay Mahajan went on a "consumer safari" to explore the market potentials of Africa and lays them out in great detail in this book. While not ignoring the many obstacles and challenges the continent faces, he paints a vivid picture of a continent that he believes is, economically, where China and India were 20 years ago--on the brink of a great transformation.
The Ascent of Money: A Financial History of the World
by Niall Ferguson (Penguin Press, November 2008)
With his latest book, historian Niall Ferguson adeptly charts the role of money throughout the history of an as well as the role of man in the history of money. From the rise of money and credit to the bond and stock markets, and the rise of insurance and real estate markets to, more recently, international finance, Ferguson demonstrates that financial knowledge is, in many ways, historical knowledge.
Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism
by Kevin Phillips (Viking Books, April 2008)
Kevin Phillips paints a dire picture in his latest book. A sharp observer of large trends for several decades, Philips authored the classic The Emerging Republican Majority in 1969, one of the most prescient and influential books in political science. In this book, he looks at America's economic future and foresees further crisis as the results of bad policy and loss of international prestige.
The Post-American World
by Fareed Zakaria (W. W. Norton, May 2008)
Despite its provocative title, this book is not about a world without America, or even a decline of America. Rather, it is about the rise of the rest of the world. With the rise of international finance, free trade agreements, and organizations like the WTO and European Union, companies and capital are free to move from place to place in search of the location most friendly and best suited to its needs, spreading economic power to sometimes unexpected locations around the world.
And Africa Rises.
Posted Sept. 18, 2008 4:15 a.m. by kate
In Global Business - 800 CEO Read Blog
The GDP for the entire continent of Africa is greater than India's. And their populations are comparable -- Africa weighing in at 900 million people and India at one billion people.
The clout of the African economy has plenty of room to grow. For that very reason, Vijay Mahajan set out to research and tell the world about Africa with his book Africa Rising. He found like that, like many growing regions in the world, there's a growing middle class in Africa. It includes secretaries, computer gurus, merchants and others who by virtue of education, geography or luck have benefited from economic growth of around 6 percent annually in such countries as Uganda, Ghana and Kenya, and around 8 percent in Rwanda.
That group of people is numbered at 300 million. Vijay dubbed this group (Africa 2s) to describe people who are neither desperately poor (Africa 3s) nor obnoxiously rich (Africa 1s), and says the middle group is one of the most important drivers of economic growth in Africa.
Earlier this month, Jack wrote a review on Africa Rising. The book has since had plenty of media coverage. Perhaps it's because it's one of the first times we Americans are hearing about the upside of Africa. It's rare that the Africa portrait is painted with optimism rather than bleakness. Thanks to Vijay for giving us an opportunity to see the big continent through different eyes.
If you're looking for more on the book, start with Vijay's video.
Jack Covert Selects - Africa Rising
Posted Sept. 12, 2008 5:20 a.m. by 800-ceo-read
Africa Rising: How 900 Million African Consumers Offer More Than You Think by Vijay Mahajan, Wharton School Publishing, 288 pages, $29.99, Hardcover, September 2008, ISBN 9780132339421
We tend to get an overly negative picture of Africa from its coverage in the press and on the silver screen, with stories focused on war, poverty, disease and corruption. This book awakens its reader to the great potential hidden by--and sometimes resulting from--the many challenges Africa faces, challenges innovative entrepreneurs are quietly addressing.
Author Vijay Mahajan took a "consumer safari" to explore what opportunities exist in Africa and lays them out in great detail in this book. He doesn't shy away from the continent's many obstacles, and recognizes time and again the need for better governance and charitable work on the continent. But, in detailing the promises and successes business has had in positive transformation, he shows that entrepreneurs aren't waiting for their governments to get on board. As Mahajan states:While politicians look to change regulations and charitable organizations look to make up deficiencies, entrepreneurs create wealth. They ask: What are the opportunities?
Africa Rising is a hopeful book. Instead of the bleak picture we so often see on the news, the reader is immersed in stories of African business success and given a detailed picture of its markets. After recognizing that:Just as it does not make sense to talk about an Asian market, or even an Indian, Chinese, or U.S. market, we need to be aware that discussing the African market covers up a multitude of complexities.
The author begins peeling away those layers, splitting the population into three consumer groups, looking at the continent's regional markets, and discussing opportunities in specific markets and industries.
Many in China have already seen the light, and Chinese businesses have been flocking to Africa--not only for the continent's resources, but also to meet its consumer's needs. This book will hopefully awaken more in the West to the promise and importance of Africa.
Majahan stresses again and again that as Africans begin to tell their story, our understanding of Africa will begin to change. He paints a vivid picture of a continent that he believes is, economically, where China and India were 20 years ago--on the brink of a great transformation.