Travels in the New Third World
As Pogo once said,
"We have met the enemy
and he is us."
The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.
Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.
Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.
- October 2011
- 5.9 × 8.6 in
/ 224 pages
- Sales Territory: Worldwide including Canada, Singapore and Malaysia, but excluding the British Commonwealth.
Endorsements & Reviews
Also by Michael Lewis
Two acclaimed political economists explore the origins and long-term effects
of the financial crisis in historical and comparative perspective.More
Our newest Nobel Prize-winning economist shows how today’s crisis parallels the events that caused the Great Depression—and explains what it will take to avoid catastrophe.More