Book Review of “Boomerang: Travels in the New Third World”
By Michael Lewis
Review by Jordan Hedberg
- Summery of the Book’s Main Points
Causation is a tricky subject for humans. Vast amounts of energy and resources are poured into trying to understand the cause of every societal problem. What causes Cancer? Or the success of Apple Inc? People have an insatiable need to establish a narrative regarding cause and effect. When causation meets complex systems such as the global economy, the causes of an event is often hard to separate from the effects. Michael Lewis attempts to ascertain why the global economy is drowning itself in debt and discovers that individual people and societies are the root cause.
The book takes the reader through many of the key nations that are currently the focus of the European credit crisis and establishes events from a personal perspective. Starting with existing stereotypes, Lewis explores why many generalizations regarding different nationalities exist. Continuing with his journey he explores why certain cultures react differently when faced with insurmountable financial problems. The answers and contradictions that Lewis encounters surprise and baffle him. Striving to understand the issue of debt, banks, and markets, Lewis travels back to the United States to search for the beginnings of traditional “European” issues in America. In the end, he discovers certain truths that most American citizens refuse to accept or simply ignore.
-Thoughts & Rating
During the first few chapters of the book I was concerned that Mr. Lewis was going to only discuss the stereotypical traits of European populations. However, Mr. Lewis begins to reveal his thought process and dives into economic problems from a societal viewpoint. It was interesting to see how he moved about in the different European nations and interactions he was able to schedule. Once again, Lewis shows the reader a point of view not captured by main-stream media.
It is hard for me to voice any criticisms because Mr. Lewis’s message is so powerful. The only part of the book that I wanted more information on was his brief discussion on neurobiology and human interactions regarding society. However, there are plenty of good books regarding behavioral science and neurobiology in relation to society. This book is a must read for everyone because it breaks through the political garbage that fills the media and bookshelves.
5 out of 5
Dear Mr. Hedberg:
ReplyDeleteI am also a fan of Michael Lewis, and am interested in banking and politics. I have just (literally yesterday!) published a novel, called Confessions of a Predatory Lender. After spending some years at Seattle banks, and watching one of our very respected banks (WaMu) go bankrupt, I wanted to tell the story of subprime lending as an entertaining piece of fiction. My thought was that in bringing it down to a very personal level, it would be more meaningful to the average reader with no banking expertise. Therefore, I chose as my protaqonists 2 female college grads with big hearts and dollar signs in their eyes. The year is 2006 and everyone knows you can make a killing in mortgage lending.
If this interests you, I would invite your review. Currently my book is available as an Amazon ebook with a paperback planned. May I send you a review copy?
Irma Fritz, irma.fritz@gmail.com