Boomerang: Travels in the New Third World

Boomerang

Travels in the New Third World

By Michael Lewis
(W. W. Norton & Company, Hardcover, 9780393081817, 224pp.)

Publication Date: October 2011

Other Editions of This Title: Paperback

Categories: Economics - Comparative, International - Economics, Economic Conditions

Description

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 pi ata 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.

How The Financial Crisis Created A 'New Third World'

Tuesday, Oct 4, 2011

In Boomerang, writer Michael Lewis tells the stories of the countries hit hardest by the 2008 financial crisis. He also profiles some people who bet against European governments and are likely to make millions if and when they default. More at NPR.org

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In 'Boomerang,' Cheap Credit Exposes Nations' Flaws

Monday, Oct 3, 2011

No two countries are experiencing the global financial crisis in the same way. And author Michael Lewis says you can tell a lot about each country by looking at its problems. To research for his new book, Boomerang, Lewis visited some of the most financially challenged countries in the world. More at NPR.org

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