Cowboy Capitalism: European Myths, American Reality
I was just at a going-away party/wake for Olaf Gersemann, author of the outstanding book Cowboy Capitalism. He’s leaving Washington, where he has worked for five years as American correspondent for Wirtschaftswoche (“Business Week”), to become deputy bureau chief in Berlin.
Anyone who wants to understand what’s been happening in the American and European economies for the last few decades, and which model is really more attractive, should buy and read Cowboy Capitalism.
The reviews from people who should know have been great. Here’s Leszek Balcerowicz, Former Finance Minister of Poland:
“This book offers an excellent comparison of U.S. capitalism with the ‘social’ model of Germany, France, and Italy. It is also a penetrating study of anti-market propaganda. Olaf Gersemann shows that the features of the American model that are attacked most by European critics from both left and right are those which continental Europe actually needs in order to overcome the social problem of high unemployment and to make the European economy more dynamic and competitive. The book displays a rare combination of clarity, passion, and moderation. I highly recommend that this book be widely read on both sides of the Atlantic.”
The book intellectually stimulating, fascinating, sophisticated, authoritative when appropriate and cautious when appropriate, and frankly a terrific read. (I’m hoping that there will be editions in other languages soon, as well.)